Didi Confirms China App Removals, Sees Revenue Hit

Reuters
By Reuters
July 12, 2021China News
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Didi Confirms China App Removals, Sees Revenue Hit
A keyframe showing the Didi Logo on a Stock Market Screen (Reuters)

China’s Didi Global Inc. on July 12 confirmed the country’s cyberspace administration had notified app stores to remove the ride-hailing company’s 25 apps and said the move could impact its revenue in the region.

Cyberspace Administration of China (CAC) said last week it will remove the mobile apps operated by Didi from app stores as the government stepped up a clampdown on the company.

“The CAC notified app stores to take down these apps and cease to provide viewing and downloading service in China, and required the Company to strictly comply with relevant laws and regulations… and rectify the problem to ensure the security of users’ personal information,” Didi said in a statement.

Earlier this month, just days after Didi’s $4.4 billion listing on the New York Stock Exchange, China’s cyberspace regulator launched a probe into the company and asked it to stop registering new users, citing national security and the public interest.

U.S.-listed shares of Didi fell nearly  percent% in premarket trading.

Reporting by Akanksha Rana in Bengaluru and Yilei Sun

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