© Reuters. FILE PHOTO: The Didi emblem is seen on the facade of the corporate headquarters in Beijing, China November 9, 2021. Picture taken November 9, 2021. REUTERS/Yilei Sun
BEIJING (Reuters) – Revenues at China’s Didi Chuxing rose 52.6% for the April-June quarter from a yr earlier to 48.8 billion yuan ($6.65 billion, as the ride-hailing agency emerged from a regulatory crackdown and demand rebounded with the top of strict COVID-19 restrictions.
Didi posted a web lack of 300 million yuan, the corporate mentioned in a press release on Saturday.
The firm, launched in Beijing in 2012 and backed by outstanding traders together with Alibaba (NYSE:), Tencent and SoftBank (TYO:) Group, ran afoul of regulators on the highly effective Cyberspace Administration of China when it pressed forward in 2021 with a U.S. inventory itemizing towards the regulator’s needs, sources have advised Reuters. It was delisted from the New York Stock Exchange final yr.
Didi started to emerge from its regulatory troubles earlier this yr, after China introduced the top up of a cybersecurity investigation into the agency and allowed it to revive its apps to cell app shops.
The firm mentioned it plans “to engage with our consumers and drivers more actively for the rest of 2023 through effective promotion and more diversified and affordable product offerings.”
($1 = 7.3430 renminbi)
