FILE PHOTO: A sign of Chinese ride-hailing service Didi is seen on its headquarters in Beijing, China July 5, 2021. REUTERS/Tingshu Wang
December 29, 2021
(Reuters) -China’s ride-hailing firm Didi Global on Wednesday reported a 1.7% decline in third-quarter revenue as its Chinese mobility business took a hit from regulatory crackdown.
After the company’s listing on the New York Stock Exchange in June, Chinese authorities came down hard on Didi asking it to take down its app from mobile app stores in China as the Cyberspace Administration of China (CAC) was investigating its handling of customer data.
Revenue for the third quarter ended Sept. 30 fell to 42.7 billion yuan ($6.71 billion) from 43.4 billion yuan a year earlier.
Net loss attributable to ordinary shareholders was 25.91 yuan.
($1 = 6.3680 Chinese yuan renminbi)
(Reporting by Chavi Mehta in Bengaluru; Editing by Shinjini Ganguli)
Source: One America News Network
