Mobile transportation company Didi Chuxing, which started trading on the New York Stock Exchange on July 1, faced investigation in its country after its public offering abroad.
The China Cyberspace Administration (CAC) launched a cybersecurity investigation against the company, arguing that Didi did not meet the requirement to conduct an internal cybersecurity review before going public.
CAC, which ordered the removal of 25 applications belonging to the company from its internet stores in China on July 9, also stopped the company from accepting new customers.
Didi's operating loss, whose revenues fell 5 percent in the third quarter of the year, reached $6.3 billion in the first 9 months of the year.
Due to the restrictions imposed by the Beijing administration in recent months, Didi's share prices in the USA were also adversely affected.
While all this was happening, Daniel Zhang, CEO of Chinese e-commerce company Alibaba, who has been serving as chairman of the board since 2018, also resigned from his position at Didi.
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