Can online car-hailing be "retreated" as "in"
Our reporter Sun Qiru
Yesterday, Didi Chuxing announced on its Weibo that it would start delisting on the New York Stock Exchange and start preparations for listing in Hong Kong with immediate effect.
It was only 156 days after Didi was officially listed.
During the adjustment and reform period of Didi Didi, the former “big brother” of online car-hailing, the Chinese online car-hailing market is undergoing dramatic changes in terms of competition and compliance.
Looking back on the listing for 156 days, the official announcement of delisting
Before the announcement of the delisting news, Didi stated in an English announcement issued on December 2 that the board of directors has authorized and supported the company to take the necessary procedures and submit relevant applications to delist the company’s ADS (depository receipt) from the New York Stock Exchange. , And at the same time, at the option of the ADS holder, it will be converted into freely tradable shares on another internationally recognized stock exchange.
On June 30, Didi Chuxing listed on the New York Stock Exchange in a low-key manner, becoming the first domestic online ride-hailing company to be listed in the United States.
The issue price of Didi Chuxing was US$14, and the total amount of funds raised reached US$4.03 billion.
On July 2, the National Cyberspace Administration of China issued an announcement on its official website to initiate a cyber security review of Didi Chuxing.
In order to cooperate with the network security review and prevent risks from expanding, "Didi Travel" stopped new user registration during the review period.
In the next few days, 25 Didi apps were removed for rectification. New users could no longer register, and old users who replaced their new devices could not download Didi apps again in the mobile app store.
According to information released by the Office of the Cyberspace Administration of China at the time, the main reason for Didi's rectification was its serious violation of laws and regulations in collecting and using personal information.
According to industry analysts, the announcement of Didi’s delisting from the US stock market and the launch of preparations for listing in Hong Kong may mean that Didi’s safety and compliance rectification work is nearing completion.
However, Didi, which is still in the rectification period, did not respond to this.
The status quo "competition of the heroes" once again staged
As Didi enters the rectification period, the online car-hailing arena is making waves again, and the "second echelon" online car-hailing platforms are dispatched one after another to seize this "window period" for regaining market share.
In mid-July, Meituan’s taxi-hailing, which was removed in 2019, made a comeback. It launched online taxi-hailing services in Beijing and other cities. Apps such as Dida Travel frequently issued coupons and red envelopes to attract users, and planned to list on the Hong Kong stock market.
Cao Cao Travel and T3 Travel have successively received several billion yuan in financing.
Competition in the online car-hailing industry has become increasingly fierce and has entered a new round of competition.
According to statistics from the national online car-hailing regulatory information exchange platform, as of mid-2021, a total of 236 online car-hailing platform companies across the country have obtained online car-hailing platform operating licenses, an increase of 22 from the end of 2020.
In addition to the original main "participants" on the online car-hailing track, the competition has been fully stimulated, and some start-up platforms in the online car-hailing industry have also gained room for growth through cooperation with aggregated taxi-hailing platforms.
According to the monthly order compliance rate data of online car-hailing platforms that have monthly orders of more than 300,000 issued by the Ministry of Transport, platforms such as timely use of cars, traveling with China, and recruiting travel for the first time appeared on platforms with more than 300,000 orders in July this year. Of the list.
In addition, the reporter's interview found that in the new round of competition, most platforms have not adopted large-scale subsidies.
Gaode Taxi, an aggregated taxi-hailing platform that has reached cooperation with Didi, Shouqi, Xiangdao, T3, Cao Cao and other start-up platforms such as Didi, Shouqi, Xiangdao, T3, and Cao Cao, and other start-up platforms, said that it will not rely on high Subsidies and low compliance" to seize market size.
Looking forward to industry compliance will improve
During Didi's rectification period, the compliance governance of the entire online car-hailing industry has also been deepened and refined.
In recent years, individual online car-hailing platforms have drawn high prices and adjusted prices at will, enticing drivers to work overtime and fatigue driving, which have become hot topics.
On November 30, the Ministry of Transport, the National Development and Reform Commission and other eight departments issued the "Opinions on Strengthening the Protection of the Rights and Interests of Employees in New Forms of Transportation", which was carried out in terms of improving the platform and the benefit distribution mechanism of employees, and supporting employees to participate in social insurance. Clear requirements and put forward safeguard measures.
The "Opinions" specifically mentioned that online car-hailing platform companies are urged to strengthen communication and consultation with trade union organizations and industry associations where they operate and service, and reasonably set the upper limit of the quota and publish it on mobile clients and the media.
Before determining and adjusting business strategies such as pricing rules and income distribution rules, online car-hailing platform companies are urged to publicly solicit opinions from practitioner representatives, trade union organizations, and industry associations, and announce them to the public one month in advance.
With regard to the eight departments requesting the online car-hailing platform to protect the rights and interests of practitioners, Pan Helin, executive dean of the Institute of Digital Economy of Zhongnan University of Economics and Law, analyzed that the online car-hailing platform is bound to greatly increase labor costs, but this is also the entry of enterprises. The only way to normalization.
Under the dual pressure of declining commissions and rising human resource costs, the current need to reduce internal platform operating costs on the one hand, and accelerate diversified deployment on the other hand, to offset operating pressures through revenue from multiple sources.
Some online car-hailing platforms have previously taken corresponding measures to respond to social concerns.
From July to August this year, Didi launched transparent driver bills in many cities across the country. Drivers can check the details of each order, and the platform will eliminate 30% of the high commission.
Autonavi taxis have repeatedly launched "commission-free" activities, exempting drivers from commissions during peak periods such as the Mid-Autumn Festival and National Day holidays, so as to increase their income.
Chen Liteng, a life service e-commerce analyst at the Net Economics E-commerce Research Center, believes that once Didi can go back online through the "hardening" of the regulatory authorities, the platform's compliance is expected to be further improved and mature, and it will be able to obtain a truly favorable valuation. .
In the increasingly tightening regulatory environment for online car-hailing, many mobile travel platforms will face greater compliance pressures.