Didi

Didi Global, whose New York listing triggered a Chinese cybersecurity investigation, will soon be cleared by regulators to resume normal business, ...

Chinese regulators are concluding investigations into ride-hailing giant Didi, The Wall Street Journal reported, sending shares of the company surging.

Didi has been one of the worst-hit companies as a result of Beijing's crackdown. Didi is expected to face a large fine, while the Full Truck Alliance and Kanzhun will face smaller ones, the Journal said. Since the end of 2020, China has tightened regulation on its domestic technology sector in areas from antitrust to data protection. Shares of Chinese ride-hailing giant Didi surged more than 50% in premarket trade in the U.S. on Monday after The Wall Street Journal reported regulators in China are concluding investigations into the company. - Shares of Chinese ride-hailing giant Didi surged more than 50% in premarket trade in the U.S. on Monday after The Wall Street Journal reported regulators are concluding investigations into the company. But there have been signs of regulatory easing from Beijing as China deals with the economic fallout from weeks of lockdown in Shanghai.

Two other US-listed Chinese firms — logistics provider Full Truck Alliance (YMM) and online recruitment platform Kanzhun (BZ) — are also reaching the tail end ...

That investigation turned the company into a poster child , which reported Monday, citing unidentified sources, that Beijing's cybersecurity review of the ride-hailing giant was about to wrap up. The conclusion of the cybersecurity review comes too late to save Didi from an ignominious retreat from Wall Street just a year after it listed, and will have further consequences for the company.

US-listed Chinese technology stocks rose on Monday after a report that regulators in China are concluding a probe into ride-hailing giant Didi Global raised ...

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Ride-hailing platform Didi Global, job recruiting platform Boss Zhipin, and Full Truck Alliance—dubbed “Uber for Trucks”—were barred from registering new ...

But, as of Monday evening, Full Truck Alliance’s apps Yunmanman and Huochebang were taking on new customers for the first time in 11 months. That came just a day after Chinese regulators barred 26 of Didi’s apps from taking on new customers and forced it out of local app stores as the company pushed ahead with a USD 4.4 billion initial public offering in New York. Beijing had warned that the listing could pave the way for US regulators to gain access to sensitive domestic data. Ride-hailing platform Didi Global, job recruiting platform Boss Zhipin, and Full Truck Alliance—dubbed “Uber for Trucks”—were barred from registering new customers during a yearlong investigation by China’s cyberspace watchdog.

Shares of Didi Global Inc. surged by half their value in premarket trade in New York on Monday on the latest sign that Beijing is easing up on a crackdown ...

Chinese regulators are reportedly in the final stages of their probe into Didi, with plans to lift the ride-hailing giant's year-long ban on registering.

The investigation into Didi by China’s internet watchdog over alleged cybersecurity risks of its US IPO has been ongoing since last July. The company’s shares were up 24.3% to $2.3 on Monday. [ The investigation into Didi by China’s internet watchdog over alleged cybersecurity risks of its US IPO has been ongoing since last July. The company’s shares were up 24.3% to $2.3 on Monday. [ The Wall Street Journal] Chinese regulators are reportedly in the final stages of their probe into Didi, with plans to lift the ride-hailing giant’s year-long ban on registering new users as early as this week, according to a report by the Wall Street Journal on Monday. The report, citing people familiar with the matter, shows that Beijing is easing its crackdown on the country’s tech sector to boost the economy battered by strict Covid-19 control measures.

With delisting approved and an end to regulatory probes, uncertainty around DiDi is now significantly reduced. At a P/S of 0.33, the fear seems exaggerated.

Disclosure: I/we have a beneficial long position in the shares of DIDI either through stock ownership, options, or other derivatives. Finally, DiDi could choose to repurchase all its outstanding ADRs. This would arguably be the quickest way to unlock value for shareholders. From here we can see that DiDi is trading at extremely discounted P/S of 0.33. Given that DiDi is now allowed to be downloaded again on Chinese app stores, its growth should still continue, albeit at a rate which would be debated by many analysts. In all, I believe that recent developments have added much greater stability to DiDi's business, both operationally and regulatory. Therefore, investors are now looking at a DiDi which is a market leader in the Chinese ride hailing industry and one that is allowed to continue growing its user base, consequently enhancing its already superior network effect. A popular Chinese company that trades on OTC now would be Tencent Holdings ( OTCPK:TCEHY), which has been trading quite aligned with its Hong Kong listing. This is because DiDi's troubles were the main reasons that exacerbated ADR delisting fears over the past years, and added huge worries regarding investing in Chinese ADRs. With regulatory probes coming to an end, I believe that regulators would also be releasing a practical solution to prevent anti-monopolistic behaviours of DiDi, reducing another common concern. Even a revaluation to a P/S of around 1 implies a 3x upside potential. Given that China's ride-hailing market is expected to grow at a CAGR of 16.6% through 2026, this news would be a positive tailwind to DiDi's future. Hence, this article serves more of an explanation as why I believe DiDi is a high-risk high-reward short term play which I believe should materialise out, rather than a detailed analysis into DiDi's business. With the re uploading of DiDi's apps on Chinese app stores, this will also allow DiDi to continue expanding its user base of around 500 million users.

Chinese regulators are preparing to wrap up their investigation into Didi Global Inc. and restore the ride-hailing giant's main apps to mobile stores as ...

Regulators are also finishing up their probes into data security at two other firms, Full Truck Alliance Co. and online recruitment platform Kanzhun Ltd., the Journal said, citing unidentified people familiar with the discussion. Chinese regulators are preparing to wrap up their investigation into Didi Global Inc. and restore the ride-hailing giant’s main apps to mobile stores as soon as this week, the Wall Street Journal reported.

Steps are the latest sign that Beijing wants to spur economic activity, including from the country's beleaguered tech giants.

- Opinion: The Georgetown Law School Purge The lifting of the new user ban and app restorations could both happen as early as this week, the people said. You may cancel your subscription at anytime by calling Customer Service.

China's Didi is in talks with state-backed Sinomach Automobile to buy a third of its electric-vehicle unit, two sources said, signalling the ride-hailer's ...

Didi has been quietly pushing ahead with a car-making project, code-named "Da Vinci", and, according to one of the sources, has about 2,000 people for it. The talks for a stake in Sinomach Zhijun are in an advanced stage, the sources said. The Wall Street Journal reported on Monday that regulators are set to conclude their investigations into the company.