DiDi Shareholders Overwhelmingly Back Hong Kong Relisting; Want Independent Director, Open Earnings Calls, and First Shareholder Meeting in Four Years, Survey Finds

Rhea-AI Summary

Key Figures

Support for Hong Kong relisting: 144 respondents; 99.3% Support for shareholders' meeting: 147 respondents; 100% Support for disclosing relisting plan: 145 respondents; 100% +2 more

Support for Hong Kong relisting

144 respondents; 99.3%

Survey respondents favored listing shares on the Hong Kong Stock Exchange

Support for shareholders' meeting

147 respondents; 100%

Survey respondents wanted a meeting to discuss the relisting plan

Support for disclosing relisting plan

145 respondents; 100%

Survey respondents wanted DiDi to disclose its Hong Kong relisting plan

Support for open earnings calls

146 respondents; 99.3%

Survey respondents wanted quarterly earnings calls open to all shareholders

Support for independent director election

146 respondents; 99.3%

Survey respondents wanted to nominate and choose an independent director

Key Terms

over-the-counter, american depositary share

2 terms

over-the-counter financial

"moved to trade only OTC (over-the-counter) in the U.S."

Over-the-counter describes securities or trades that occur directly between buyers and sellers rather than on a formal stock exchange. Think of it like buying at a flea market instead of a big supermarket: prices, rules and transparency can vary, which can mean lower liquidity, wider price swings and less regulatory oversight—factors investors watch because they affect ease of trading and risk level.

american depositary share financial

"2021 IPO price of $14.00 per American Depositary Share (ADS)."

An American Depositary Share (ADS) is a U.S.-listed certificate that represents a specified number of shares in a foreign company, held by a custodian bank; it works like a receipt that allows U.S. investors to buy and trade foreign equity on American exchanges without dealing with another country’s markets. Investors care because ADSs make foreign stocks easier to access, improve liquidity and settlement in dollars, and can affect dividend payments, voting rights and regulatory oversight compared with buying the underlying foreign shares directly.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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A Heng Ren Partners survey this month finds at least 99.3% support on five key shareholder issues to boost shareholder value; shareholders want DiDi's board and management to respond with concrete action

BOSTON, Oct. 26, 2026 /PRNewswire/ -- Heng Ren Partners LLC, an active asset manager whose fund owns shares of "the Uber of China," DiDi Global Inc. (OTC Pink: DIDIY), today released the results of a survey of DiDi shareholders showing near-unanimous support for relisting the company's depressed shares on the Hong Kong Stock Exchange.

In 2022 DiDi's shares were delisted from the New York Stock Exchange (NYSE) and moved to trade only OTC (over-the-counter) in the U.S. Despite delivering the most rides in the world, DiDi shares languish because its OTC status disqualifies it from indexes, and most institutional investors avoid buying OTC stocks, which are mostly penny stocks or shell companies. Heng Ren believes a relisting in Hong Kong is the best opportunity for realizing shareholder value and is campaigning for the change in trading venue.

DiDi shares are trading at close to $3.00 down 79% versus the 2021 IPO price of $14.00 per American Depositary Share (ADS). DiDi shares are down approximately 52% in the past year. Aside from the OTC discount, DiDi's lack of communication with shareholders – no shareholder meetings, no public earnings calls – and lack of full board representation, all heighten the perceived risk of investment in DiDi.

Shareholders answered each of the survey's five questions, and at least 99.3% of respondents answered that they want change:

Key findings:

• Hong Kong relisting: 144 respondents to this question (99.3%) want DiDi's shares listed on the Hong Kong Stock Exchange instead of trading OTC in the U.S.
• Shareholders' meeting: All 147 respondents (100%) want DiDi's board to call a shareholders' meeting to discuss the relisting plan.
• Relisting plan: All 145 respondents (100%) want DiDi to disclose its plan for relisting the shares in Hong Kong.
• Earnings calls: 146 respondents (99.3%) want DiDi to open its quarterly earnings calls to all shareholders.
• Independent director: 146 respondents (99.3%) want an election in which shareholders can nominate and choose an independent director to fill a vacant board seat and represent them.

DiDi's shares have traded over-the-counter in the U.S. since the company's June 2022 delisting from the New York Stock Exchange. In December 2021, DiDi announced that it would start preparations for a listing in Hong Kong. To Heng Ren's knowledge, DiDi has not publicly announced a plan or timetable since, and it has not held a shareholders' meeting since 2022.

"DiDi's shareholders have spoken in their answers to this survey, and their message is clear and consistent," said Peter Halesworth, founder, Managing Partner and Chief Investment Officer of Heng Ren Partners in Boston. "Relist, re-engage, and understand we want representation. These are modest requests that any global public company should be able to meet: tell us the plan to relist in Hong Kong, meet with us, open your earnings calls to everyone, and let us elect an independent director.

"We believe relisting in Hong Kong is the most rational outcome for all shareholders, and we think it is consistent with the direction Beijing has encouraged. We call on DiDi's board and management to respond positively with concrete action," Halesworth said.

Taken together, shareholders are making four requests of DiDi's board and management: tell shareholders the plan and timetable for relisting in Hong Kong; hold a shareholders' meeting to discuss shareholder issues; open quarterly earnings calls to all shareholders and interested investors; and let shareholders nominate and elect an independent director.

Heng Ren and shareholders have written letters to DiDi's board and management, and also contacted DiDi's largest shareholders asking them to support relisting in Hong Kong, including SoftBank Group Corp. (TSE: 9984) which owns approximately 21.5% of DiDi's shares, Uber Technologies, Inc. (NYSE: UBER), a 12.8% shareholder, and Tencent Holdings Ltd. (HKEx: 0700), a 7.1% shareholder of DiDi.

"None of this will happen unless all shareholders ask for it," Halesworth said.

Heng Ren Partners LLC invites DiDi shareholders to stay up-to-date and engage in its initiative to see DiDi's shares listed on the Hong Kong Stock Exchange. Visit https://www.hengreninvestment.com/ and click "Bring DiDi Home" for details about the campaign.

About the survey: The survey asked five Yes-or-No questions and was conducted from October 16 to 21, 2026. Participation was voluntary, and the results reflect the views of the hundreds of shareholders surveyed. It is not a scientific sample of all DiDi shareholders.

About Heng Ren Partners

Heng Ren Partners LLC is an SEC-registered investment adviser based in Boston. It manages Heng Ren Investments LP, established in 2013, and Heng Ren Silk Road Investments LLC, a fund launched in 2018. For more information, visit www.hengreninvestment.com.

Media Contact:

Peter Halesworth
Founder & CIO
Heng Ren Partners LLC
info@hengreninvestment.com

Related Links
https://www.hengreninvestment.com

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SOURCE Heng Ren Partners