the LinkDoc deal was due to the crackdown, the sources said. SEE ALSO: Ride-hailing Didi to Be Delisted from NYSEull Truck Alliance has been committed to building an efficient platform to match drivers and consignors. ![]() Didi Global is preparing to relaunch its ride-hailing and other apps in China by the end of the year in anticipation that Beijing’s cybersecurity investigation into the company will be wrapped up by then, three people directly involved in the relaunch said. On June 22, 2021, the company was listed on the New York Stock Exchange. The people, who declined to be identified as the information was private, said they expected China’s cyberspace regulator to finalise any penalties on the company in December. The company has set aside 10 billion yuan (approximately $1.6 billion) for a potential fine, said one of the sources. In July, the powerful Cyberspace Administration of China (CAC) ordered app stores to remove 25 mobile apps operated by Didi – just days after the ride-hailing giant listed in New York. It did not elaborate further.Īirbnb to restrict bookings on its platform in the UK It also told the company to stop registering new users, citing national security and the public interest.Īsked about its preparations to relaunch the apps and the amount set aside for a potential fine, Didi said the information obtained by Reuters was “pure hearsay with no grounds in fact” and that it was cooperating actively and fully with the cybersecurity review. The CAC did not respond to a request for comment.ĭidi shares listed on the New York Stock Exchange rose as much as more 6.7% in early trading on Thursday following the report before slipping back.ĭidi, which has about 377 million annual active users in China, provides 25 million rides a day to users in the country who sign into its app with a phone number and password. ![]() Its apps also offer other products such as delivery and financial services. It ran afoul of the CAC when it pressed ahead with its New York listing on June 30, even though the regulator had urged the company to put it on hold while a cybersecurity review of its data practices was conducted, sources have told journalists. auditing rules.Keep, Ximalaya, and LinkDoc call off their US IPO plans. The company has set aside 10 billion yuan (approximately 1.6 billion) for a potential fine, said one of the sources. regulators will potentially gain more access to audit documents of New York-listed Chinese companies.nalysts also note the tougher stance coincides with new U.S. Sources didi chinabased ximalaya linkdoc It said data had been collected illegally and the apps concerned including for its camera device, as well as delivery and financial services. Meanwhile several apps don’t set a specific deduction time. Most apps, such as iQiyi, Ximalaya, Ele.me, Keep and others charged the renewal one day before expiration, and consumers can cancel it by themselves as late as one day before expiration. ![]() Soon after, the CAC launched an investigation into Didi over its collection and use of personal data. listing plans and opt for Hong Kong instead, with one source at the time citing Beijing's concerns that U.S. deducts money the earliest at three days in advance. It said data had been collected illegally and the apps concerned including for its camera device, as well as delivery and financial services.
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