Tencent Confirms Passive Stake in DiDi Global as of Dec 31, 2023

TL;DR

**Tencent's still holding DiDi shares, but it's a passive stake, nothing new to see here.**

AI Summary

Tencent Holdings Ltd. filed an amended SC 13G/A on February 1, 2024, confirming its passive ownership in DiDi Global Inc. as of December 31, 2023. This filing, an amendment to a previous disclosure, indicates that Tencent continues to hold a significant, but non-controlling, stake in DiDi. For investors, this means a major tech player like Tencent remains invested in DiDi, potentially signaling long-term confidence, but without any new active involvement or changes in ownership percentage that would suggest a shift in strategy.

Why It Matters

This filing confirms Tencent's continued, passive investment in DiDi, reassuring investors that a major institutional holder is still on board, but without any new strategic implications.

Risk Assessment

Risk Level: low — This is a routine amendment confirming a passive stake, indicating no immediate change in control or significant new investment/divestment activity.

Analyst Insight

An investor should view this as a routine update confirming existing ownership, not a signal for immediate buying or selling. It reinforces that Tencent remains a long-term, passive holder, which can be a positive sign of stability but doesn't suggest new strategic developments.

Key Numbers

• US$0.00002 — par value per Class A Ordinary Share (the nominal value of DiDi Global Inc.'s shares.)
• 23292E108 — CUSIP Number (identifies DiDi Global Inc.'s Class A Ordinary Shares (via ADSs).)
• 4 — ADSs per Class A Ordinary Share (the conversion ratio between DiDi's American Depositary Shares and Class A Ordinary Shares.)

Key Players & Entities

• Tencent Holdings Ltd. (company) — the entity filing the SC 13G/A, reporting its ownership in DiDi Global Inc.
• DiDi Global Inc. (company) — the issuer whose Class A Ordinary Shares are being reported on.
• HUANG RIVER INVESTMENT LTD (company) — a group member associated with the filing.
• THL A11 LTD (company) — a group member associated with the filing.
• December 31, 2023 (date) — the date of the event which required the filing of this statement.

Forward-Looking Statements

• Tencent will maintain its passive investment in DiDi Global Inc. throughout 2024. (Tencent Holdings Ltd.) — high confidence, target: December 31, 2024
• DiDi Global Inc.'s stock price will not see significant movement directly attributable to this specific filing. (DiDi Global Inc.) — high confidence, target: February 29, 2024

FAQ

Key Financial Figures

• $0.00002 — Class A Ordinary Shares, par value US$0.00002 per share (Title of Class of Securiti

Filing Documents

• d754628dsc13ga.htm (SC 13G/A) — 70KB
• d754628dex99a.htm (EX-99.(A)) — 5KB
• 0001193125-24-021343.txt ( ) — 77KB

From the Filing

SC 13G/A 1 d754628dsc13ga.htm SC 13G/A SC 13G/A UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 2)* DiDi Global Inc. (Name of Issuer) Class A Ordinary Shares, par value US$0.00002 per share (Title of Class of Securities) 23292E108** (CUSIP Number) December 31, 2023 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: Rule 13d-1(b) Rule 13d-1(c) Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting persons initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. ** CUSIP number 23292E108 has been assigned to the American Depositary Shares (ADSs) of DiDi Global Inc. (the Issuer), which are traded on the OTC Markets under the symbol DIDIY. Four ADSs represent one Class A Ordinary Share. The information required in the remainder of this cover page shall not be deemed to be filed for the purpose of Section 18 of the Securities Exchange Act of 1934 (Act) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 23292E108 SCHEDULE 13G/A Page 1 of 7 1. Names of Reporting Persons Tencent Holdings Limited 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a)(b) 3. SEC Use Only 4. Citizenship or Place of Organization Cayman Islands NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. Sole Voting Power 80,525,983 6. Shared Voting Power 0 7. Sole Dispositive Power 80,525,983 8. Shared Dispositive Power 0 9. Aggregate Amount Beneficially Owned by Each Reporting Person 80,525,983 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) 11. Percent of Class Represented by Amount in Row (9) 7.3% 12. Type of Reporting Person (See Instructions) CO CUSIP No. 23292E108 SCHEDULE 13G/A Page 2 of 7 1. Names of Reporting Persons THL A11 Limited 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a)(b) 3. SEC Use Only 4. Citizenship or Place of Organization British Virgin Islands NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. Sole Voting Power 0 6. Shared Voting Power 0 7. Sole Dispositive Power 0 8. Shared Dispositive Power 0 9. Aggregate Amount Beneficially Owned by Each Reporting Person 0 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) 11. Percent of Class Represented by Amount in Row (9) 0% 12. Type of Reporting Person (See Instructions) CO CUSIP No. 23292E108 SCHEDULE 13G/A Page 3 of 7 1. Names of Reporting Persons Huang River Investment Limited 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a)(b) 3. SEC Use Only 4. Citizenship or Place of Organization British Virgin Islands NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. Sole Voting Power 77,316,905 6. Shared Voting Power 0 7. Sole Dispositive Power 77,316,905 8. Shared Dispositive Power 0 9. Aggregate Amount Beneficially Owned by Each Reporting Person 77,316,905 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) 11. Percent of Class Represented by Amount in Row (9) 7.0% 12. Type of Reporting Person (See Instructions) CO CUSIP No. 23292E108 SCHEDULE 13G/A Page 4 of 7 Item1(a). Name of Issuer: DiDi Global Inc. Item1(b). Address of Issuers Principal Executive Offices: DiDi Xinchenghai, Building 1, Yard 6, North Ring Road, Tangjialing Haidian District, Beijing, Peoples Republic of China Item2(a). Name of Person Filing: Tencent Holdings Limited THL A11 Limited Huang River Investment Limited Item2(b). Address or Principal Business Office or, if None, Residence: Principal business office for Tencent Holdings Limited and Huang River Investment Limited: Level 29, Three Pacific Place, No.1 Queens Road East, Wanchai, Hong Kong Registered office for THL A11 Limited: Vistra Corporate Services Centre, Wickhams Cay II, Road Town, Tortola, VG1110, British Virgin Islands Item2(c). Citizenship: Tencent Holdings Limited Cayman Islands THL A11 Limited British Virgin Islands Huang River Investment Limited British Virgin Islands Item2(d). Title of Class of Securities: Class A Ordinary Shares, par value US$0.00002 per share. Four ADSs represent one Class A Ordinary Share. Item2(e). CUSIP Number: CUSIP number 23292E108 has been assigned to the ADSs of the Issuer, which are traded on the OTC Markets under the symbol DIDIY. Four ADSs represent on

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