The Chinese Taxi Aggregator DIDI, accused of the threat of security of Russia, fell into decay. According to Financial Times, the company suffered losses and lost revenue.
This happened after the regulators have forced it to stop recording new users and remove dozens of DIDI chuxing applications from virtual stores. The DIDI quarter revenue fell 1.7 percent. In the third quarter, the aggregator earned 42.7 billion yuan (6.71 billion dollars). At the same time, the DIDI operating loss rose to 6.3 billion dollars for the first nine months of 2021.
Against the background of the news about the loss of shares of the company on the stock exchange in New York, they fell at the moment by 8.37 percent – to 4.93 dollars per piece. As Reuters notes, net loss amounted to 25.91 yuan (4.07 dollars) per share.
Didi placed shares on the New York Stock Exchange on June 30, despite the recommendation of Chinese regulatory authorities to postpone the IPO. A few days later, China’s cyberspace administration accused an aggregator in violating the Customer Data Collection Act and deleted the company’s application virtual stores. Beijing repression collapsed DIDI shares, which were initially 14 dollars, almost twice.
Earlier in December, the aggregator announced that it was going to leave from the New York Stock Exchange. The Chinese authorities forced the company to leave the American market, fearing the leakage of personal data of users.