In a Financial Times report released on Wednesday, the U.S. publicized intentions of intensifying its grip on Chinese firms by expanding its blacklist to include commercial drone maker DJI as well as several biotech firms. The report caused shares of Chinese healthcare and technology firms to drop as investors shudder with worry from the news’ […]
Search results for "Didi"
China’s dominant ride-hailing service, Didi Global Inc., said Friday it will pull out of the New York Stock Exchange and shift its share trading to Hong Kong as the ruling Communist Party tightens control over tech industries. Didi gave no explanation, but China’s leaders increasingly fret about who controls information gathered about its public by […]
Famous Beijing-based giant Didi denied any allegations of plans to go private in a bid to satisfy the Chinese government amidst latest regulations concerning users’ data security. After the Wall Street Journal released a report discussing the possibility of Didi going private, the ride-hailing app’s shares increased by approximately 50 percent in Thursday’s pre-market trade. The company has been targeted by Beijing regulators ever […]
Chinese ride-hailing titan Didi plunged by more than 11 percent in New York shares on Thursday, following whispers of impending new penalties by Beijing on the company. The ride-hailing giant is once more exposed to further pressure from the Chinese government leading to harmful impact on its revenues after trustbusters ordered it to be removed […]
China’s cyber-watchdog on Friday announced an on-site cybersecurity investigation of ride-hailing service Didi, stepping up scrutiny after earlier criticism of its handling of customer information caused the company’s New York-traded shares to tumble. The on-site inspection comes two weeks after the regulator said it would probe the ride-hailing company over concerns about national security and […]
Chinese regulators have clamped down on the country’s largest ride-hailing app, Didi Global Inc., days after its shares began trading in New York. Authorities told Didi to stop new registrations and ordered its app removed from China’s app stores pending a cybersecurity review. The government said it was acting to prevent security risks and protect […]
Didi Global Inc., a Chinese ride-hailing service, gained 1% Wednesday in its highly anticipated U.S. stock market debut, giving up most of a early double-digit gain. The Beijing-headquartered company’s initial public offering of 288 million shares was priced at $14 a share and opened at $16.65, up 16%. The shares closed at $14.14. Prior to […]
Swedish automaker Volvo Cars has signed a strategic collaboration agreement with DiDi Autonomous Driving, the self-driving technology arm of popular ride hailing app DiDi Chuxing to test their self-driving cars test fleet, both companies announced on Monday. According to a joint statement, Volvo Cars will provide DiDi with XC90 cars equipped with necessary backup systems […]
Donald Trump winning the U.S. presidency next week would muddle the outlook for Chinese tech firms far more than a win for Kamala Harris.
China to increase protections against hacking in its key industrial sector as it aims to contain major risks by 2026.