Didi confirms China app removals, sees revenue hit

U.S.-listed shares of Didi fell nearly 4% in premarket trading

  
The logo for Chinese ride-hailing company Didi Global Inc is pictured during the IPO on the New York Stock Exchange (NYSE) floor in New York City, U.S., June 30, 2021.

The logo for Chinese ride-hailing company Didi Global Inc is pictured during the IPO on the New York Stock Exchange (NYSE) floor in New York City, U.S., June 30, 2021.

REUTERS/Brendan McDermid

China's Didi Global Inc on Monday 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 crackdown 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 4% in premarket trading.

(Reporting by Akanksha Rana in Bengaluru and Yilei Sun; Editing by Shinjini Ganguli) ((akanksha.rana@thomsonreuters.com; ; Twitter: @AkankshaRanaa;))


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