Didi departure from NYSE marks end of Wall Street romance with Chinese big tech
3 years ago

Didi departure from NYSE marks end of Wall Street romance with Chinese big tech

Hindustan Times  

The Chinese ride-hailing giant Didi Chuxing's announcement that it will delist its shares from the New York Stock Exchange marks the end of a cushy relationship between Wall Street and Chinese tech giants, who are under siege from authorities in Beijing and regulators in America. An American flag is pictured in front of the logo for Chinese ride hailing company Didi Global Inc. during the IPO on the New York Stock Exchange floor in New York City, US. "If the US sets unequal conditions on national security for competition between the two countries by demanding Chinese listed companies hand over audits for inspection so as to spy on China's internal situation and store huge amounts of sensitive data acquired by Chinese companies, China won't accept that," the unsigned piece said. And for many market watchers, Didi, described as China's answer to Uber, will not be the last Chinese tech giant to delist from New York.

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History of this topic

China’s Didi bounces back from losses caused by Beijing’s crackdown on internet services as it prepares IPO in Hong Kong
4 months ago

China’s Didi bounces back from losses caused by Beijing’s crackdown on internet services as it prepares IPO in Hong Kong

Live Mint  

- Didi Global Inc. swung to a profit in the June quarter, a welcome boost for the company as it prepares for a potential re-listing in Hong Kong. China’s leading ride-hailing provider reported a net profit of 1.4 billion yuan, from a small loss a year earlier. Once hailed as a national champion that defeated Uber Technologies Inc. in China, …

Stock market today: Asian stocks mostly fall as Chinese shares skid despite moves to help markets
10 months, 2 weeks ago

Stock market today: Asian stocks mostly fall as Chinese shares skid despite moves to help markets

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. On Friday, Big Tech stocks …

Didi Global plans to list on Hong Kong stock exchange in 2024: Bloomberg
1 year, 2 months ago

Didi Global plans to list on Hong Kong stock exchange in 2024: Bloomberg

Live Mint  

Didi global news: Didi Global Inc, the largest ride-hailing business in China, plans to list on the Hong Kong stock exchange in the upcoming year. Any fresh listing would require approval from Chinese authorities, which compelled Didi to delist following its IPO on the fresh New York Stock Exchange last year, said Bloomberg in its news report. This move is …

Five major Chinese firms to delist from New York Stock Exchange amid US-China tensions over Taiwan
2 years, 4 months ago

Five major Chinese firms to delist from New York Stock Exchange amid US-China tensions over Taiwan

Firstpost  

Sinopec and PetroChina – two of the world’s biggest energy firms – are among the companies that will apply for “voluntary delisting” of their American depositary shares Beijing: Five major Chinese companies including two of the country’s largest oil producers will delist from the New York Stock Exchange, the firms said in filings on Friday. Sinopec and PetroChina – two …

China stocks: Alibaba and JD.com rally on hopes tech crackdown is ending soon
2 years, 6 months ago

China stocks: Alibaba and JD.com rally on hopes tech crackdown is ending soon

CNN  

Hong Kong CNN Business — Shares in Chinese tech companies have surged this week on hopes that Beijing is close to ending a yearlong regulatory crackdown on the industry. The gains followed a strong session for Chinese stocks on Wall Street on Monday,when the Nasdaq Golden Dragon China Index soared 5.4%. “The headline sparked speculation that Beijing was ending the …

Didi’s disastrous foray onto Wall Street is over
2 years, 7 months ago

Didi’s disastrous foray onto Wall Street is over

CNN  

Hong Kong CNN Business — Shareholders voted Monday in favor of Didi’s plan to quit the New York Stock Exchange less than a year after China’s largest ride-hailing firm launched its $4.4 billion initial public offering. Just days after Didi’s Wall Street debut last summer, Chinese authorities banned the service from app stores in the country, and initiated a cybersecurity …

Didi is facing an SEC probe into its botched IPO, company says
2 years, 7 months ago

Didi is facing an SEC probe into its botched IPO, company says

CNN  

Hong Kong CNN Business — Didi says it is facing an investigation by US regulators into its botched IPO last year. The Chinese ride-hailing giant said in a regulatory filing this week that it is cooperating with the investigation by the US Securities and Exchange Commission about its share offering, “subject to strict compliance with applicable laws and regulations.” “We …

Chinese stocks are on a roller coaster with no end in sight
2 years, 9 months ago

Chinese stocks are on a roller coaster with no end in sight

CNN  

New York CNN Business — US-listed Russian stocks have been in freefall following the invasion of Ukraine — but it’s not the only nation whose stocks are getting whipsawed. A committee chaired by Chinese Vice Premier Liu He said last week that the government should “actively roll out policies that benefit the markets.” “China’s promise to ease the regulatory crackdown …

Didi Global plans to delist from New York, seek listing in Hong Kong
3 years ago

Didi Global plans to delist from New York, seek listing in Hong Kong

The Hindu  

Ride-hailing giant Didi Global said on Friday it will delist from the New York stock exchange and pursue a listing in Hong Kong, succumbing to pressure from Chinese regulators concerned about data security. "Following careful research, the company will immediately start delisting on the New York stock exchange and start preparations for listing in Hong Kong," Didi said on its …

Premarket: Didi’s delisting could spell the end for Chinese stocks on Wall Street
3 years ago

Premarket: Didi’s delisting could spell the end for Chinese stocks on Wall Street

CNN  

A version of this story first appeared in CNN Business’ Before the Bell newsletter. “Didi’s repatriation to is a significantly worrying indicator for the larger US-Sino economic relationship,” Brock Silvers, chief investment officer at Kaiyuan Capital in Hong Kong, told me. “Beijing essentially forced Didi’s hand.” Shortly after its $4.4 billion initial public offering in the United States in late …

SEC temporarily halts approvals of new Chinese IPOs after Didi debacle
3 years, 4 months ago

SEC temporarily halts approvals of new Chinese IPOs after Didi debacle

CNN  

New York CNN Business — The Securities and Exchange Commission has told its staff to ask for more disclosures from Chinese companies seeking to go public in the United States before it will approve any plans for them to sell shares. The announcement Friday, first reported by Reuters, shows regulators are taking a much more cautious stance on Chinese companies …

China Cracks Down On Its Tech Giants. Sound Familiar?
3 years, 4 months ago

China Cracks Down On Its Tech Giants. Sound Familiar?

Wired  

China’s Ministry of Industry and Information Technology announced a six-month campaign on Monday to regulate internet companies, particularly practices that “disrupt market order, damage consumer rights, or threaten data security.” That followed repeated fines against tech giants including Alibaba, Baidu, and Tencent for violating antitrust laws, and a new plan to restrict overseas listings by Chinese companies. Citing “serious violations …

Beijing calls for calm after historic tech stock rout
3 years, 4 months ago

Beijing calls for calm after historic tech stock rout

CNN  

Hong Kong CNN Business — Chinese state media is urging investors to stay calm following a brutal stock market sell-off this week that has wiped out hundreds of billions of dollars in value. Chinese state-run newspaper Securities Times published a commentary Wednesday acknowledging the “changes in policy for certain industries” after a market rout on Monday and Tuesday that came …

Premarket stocks: China’s escalating crackdown on business is moving stocks
3 years, 4 months ago

Premarket stocks: China’s escalating crackdown on business is moving stocks

CNN  

A version of this story first appeared in CNN Business’ Before the Bell newsletter. You can sign up right here London CNN Business — The whims of regulators in Beijing have always posed a risk to investors looking to tap into growth in China, the world’s second largest economy. Shares of Meituan, China’s largest food delivery service, plummeted on Monday …

China announces on-site Didi cybersecurity investigation
3 years, 5 months ago

China announces on-site Didi cybersecurity investigation

Associated Press  

BEIJING — 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 data security. According …

Didi | A bump in the road
3 years, 5 months ago

Didi | A bump in the road

The Hindu  

What was meant to be a moment of pride for one of China’s Internet giants turned, in a matter of days, into an epic car-crash. On June 30, the ride-hailing app Didi, which dominates the China market, raised $4.4 billion in its much anticipated listing on the New York Stock Exchange, the biggest Chinese listing since Alibaba raised a record …

China crackdown on Didi breaks the global model of VC investing
3 years, 5 months ago

China crackdown on Didi breaks the global model of VC investing

Live Mint  

When you find a unicorn, you invest in it — no matter where on earth it is. Now, China’s crackdown on its ride-hailing giant Didi Global Inc. raises an uncomfortable question for the VCs: Does their globe-trotting model work? SoftBank Group Corp.’s second Vision Fund is adding on average one new startup target per day. But New York-based Tiger Global …

Didi, Alibaba, Tencent stocks roiled by worsening crackdown
3 years, 5 months ago

Didi, Alibaba, Tencent stocks roiled by worsening crackdown

CNN  

Hong Kong CNN Business — China is not slowing down with its historic tech crackdown. A bunch of antitrust fines The latest concerns unfolded Wednesday when China’s antitrust regulator fined several internet companies — including Didi, Alibaba and Tencent — over accusations that they violated thecountry’sAnti-Monopoly Law while making mergers or acquisitions over the last 10 years, according to the …

The SEC should investigate the Didi IPO fiasco, Senator Van Hollen says
3 years, 5 months ago

The SEC should investigate the Didi IPO fiasco, Senator Van Hollen says

CNN  

New York CNN Business — Democratic Senator Chris Van Hollen called on US financial regulators to probe the disastrous IPO of Chinese ride-hailing company Didi. “The SEC should thoroughly investigate this incident to see if investors were intentionally misled by Didi’s public disclosures,” Van Hollen told CNN Business in a statement. “American investors need confidence that the companies that list …

Premarket stocks: Didi’s IPO was a disaster. Here’s why Chinese companies keep listing in the US
3 years, 5 months ago

Premarket stocks: Didi’s IPO was a disaster. Here’s why Chinese companies keep listing in the US

CNN  

A version of this story first appeared in CNN Business’ Before the Bell newsletter. It’s also bad for the New York Stock Exchange, which has been caught up in a campaign by US politicians who want to prevent Chinese companies from raising money in New York. “Even if the stock rebounds, American investors still have no insight into the company’s …

China tech crackdown wipes out billions from Didi, other U.S.-listed firms
3 years, 5 months ago

China tech crackdown wipes out billions from Didi, other U.S.-listed firms

The Hindu  

Didi Global Inc shares slumped as much as 25% in U.S. pre-market trade on Tuesday, ahead of its first session since Chinese regulators ordered the company's app be taken down days after its $4.4billion listing on the New York Stock Exchange. Other U.S.-listed Chinese companies including Full Truck Alliance and Kanzhun Ltd were also set to open lower on Tuesday …

China tech crackdown wipes out billions from Didi, other US-listed firms
3 years, 5 months ago

China tech crackdown wipes out billions from Didi, other US-listed firms

Live Mint  

Didi Global Inc shares slumped as much as 25% in U.S. pre-market trade on Tuesday, ahead of its first session since Chinese regulators ordered the company's app be taken down days after its $4.4 billion listing on the New York Stock Exchange. Other U.S.-listed Chinese companies including Full Truck Alliance and Kanzhun Ltd were also set to open lower on …

EXPLAINER: Why China is investigating tech firms like Didi
3 years, 5 months ago

EXPLAINER: Why China is investigating tech firms like Didi

Associated Press  

HONG KONG — 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. The state-owned newspaper Global Times said in an editorial Monday that Didi has the “most detailed personal travel information” of users among all large technology firms. Full Truck Alliance, which operates the Huochebang and …

Didi shares crash after China bans it from app stores
3 years, 5 months ago

Didi shares crash after China bans it from app stores

CNN  

Hong Kong CNN Business — Didi shares plunged almost 20%Tuesday in New York as fallout continued over news of the company’s troubles in China. Tuesday wasthe first trading day in the United States since Chinese regulators banned Didi’s ride-hailing platform from app stores in the country over the weekend. China will begin regulating what kind of information those tech companies …

Didi says app takedown may hit revenue, other U.S.-listed Chinese firms probed
3 years, 5 months ago

Didi says app takedown may hit revenue, other U.S.-listed Chinese firms probed

The Hindu  

Ride-hailing giant Didi Global Inc said a regulatory order that its app be removed from app stores in China could hurt revenue, while other newly U.S.-listed Chinese firms also found themselves the subject of cybersecurity investigations. The CAC's move also comes amid a widespread regulatory squeeze on Chinese tech firms that began with the scuttling of a $37 billion listing …

China suspends registrations of new Didi users, citing cybersecurity review
3 years, 5 months ago

China suspends registrations of new Didi users, citing cybersecurity review

CNN  

CNN Business — Didi’s stock tumbled Friday after China’s Cyberspace Administration suspended the registration of new users from the company. China put the suspension in place “to prevent the expansion of risk” during a “cybersecurity review” into the company, according to a statement from the country’s cyberspace administration. A crackdown on Big Tech Didi’s debut on the NYSE and the …

Didi shares gain 1% after early jump in Wall Street debut
3 years, 5 months ago

Didi shares gain 1% after early jump in Wall Street debut

Associated Press  

BEIJING — 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. Didi’s U.S. market debut comes a day after the company said it lost $5.5 billion over the past three years, though the company also touted its global reach and investments in developing …

Didi stock closes 1% above IPO price in blockbuster US launch
3 years, 5 months ago

Didi stock closes 1% above IPO price in blockbuster US launch

CNN  

Hong Kong CNN Business — Didi went public Wednesday in the biggest US share offering by a Chinese company since Alibaba debuted in 2014. Didi raised $4.4 billion from the stock sale, making it the largest Chinese IPO in the United States since Alibaba’s $25 billion offering in 2014, according to Dealogic. The company was founded in Beijing in 2012 …

Didi IPO: Chinese ride-hailing giant files for US IPO
3 years, 6 months ago

Didi IPO: Chinese ride-hailing giant files for US IPO

CNN  

New York / Hong Kong / New Delhi CNN Business — Didi, China’s giant ride-hailing company, filed paperwork for an initial public offering in the United States with the Securities and Exchange Commission on Thursday. Didi acknowledged the risks in its prospectus, writing that there have been “heightened tensions in international economic relations.” It mentioned US-China disputes on trade, Covid-19 …

China's small tech firms step out of the shadows as giants reel from regulatory crackdown
3 years, 9 months ago

China's small tech firms step out of the shadows as giants reel from regulatory crackdown

The Hindu  

One firm's loss is another's gain. China's smaller technology companies and investors are eager to seize the day as a sweeping crackdown by anti-monopoly regulators on the country's internet giants creates a wealth of new opportunities. "Since December, we've seen clients whose credit lines have been reduced or restricted by lending giants transfer to our services," 360 DigiTech Chief Financial …

Chinese ride-sharing giant Didi plans entry into Europe
3 years, 9 months ago

Chinese ride-sharing giant Didi plans entry into Europe

Live Mint  

Chinese ride-hailing giant Didi Chuxing Technology Co. plans to make its debut in Western Europe, people familiar with the matter said, as the company seeks new growth markets ahead of a long-awaited initial public offering. In August, it began offering car-hailing services in Russia, marking its first direct foray into Europe, and it’s already an investor in Estonia-based Bolt Technology …

Premarket stocks: America is in turmoil. But investors are focused on what comes next
3 years, 11 months ago

Premarket stocks: America is in turmoil. But investors are focused on what comes next

CNN  

A version of this story first appeared in CNN Business’ Before the Bell newsletter. “Even as the protesters marched to the Capitol building, stock markets stoically marched higher,” Rabobank analyst Bas van Geffen said. “The rationalization of these moves is a focus on the longer term: with the Democrats now looking set for majority in both the House and the …

NYSE bans Chinese telecom stocks in second about-face of the week
3 years, 11 months ago

NYSE bans Chinese telecom stocks in second about-face of the week

CNN  

London CNN Business — The New York Stock Exchange will delist three Chinese telecommunications stocks to comply with an executive order from the Trump administration — its second about-face on the issue this week. The exchange said Wednesday that it would end trading of shares in China Mobile, China Telecom and China Unicom on Jan. 11. The exchange first announced …

Wall Street will kick out three big Chinese telecom companies
3 years, 11 months ago

Wall Street will kick out three big Chinese telecom companies

CNN  

Hong Kong CNN Business — Washington’s battle with Beijing is escalating once more on Wall Street. The New York Stock Exchange will end trading in the shares of three of China’s largest state-owned telecom companies this month. China’s Ministry of Commerce, meanwhile, said in a statement on Saturday that Beijing would take “necessary measures” to safeguard the interests of Chinese …

NYSE reverses plan to delist Chinese telecom companies
3 years, 11 months ago

NYSE reverses plan to delist Chinese telecom companies

CNN  

Hong Kong CNN Business — The New York Stock Exchange has reversed its decision to kick out three of China’s largest state-owned telecom companies. The exchange said late Monday that it no longer intends to delist the firms after “further consultation with relevant regulatory authorities,” and that they will continue to be listed and traded on the NYSE “at this …

China oil majors may face US delisting after NYSE drops telcos
3 years, 11 months ago

China oil majors may face US delisting after NYSE drops telcos

Live Mint  

Chinese oil majors may be next in line for delisting in the US after the New York Stock Exchange said last week it would remove the Asian nation’s three biggest telecom companies. China’s largest offshore oil producer CNOOC Ltd. could be most at risk as it’s on the Pentagon’s list of companies it says are owned or controlled by Chinese …

New York Stock Exchange starts process to delist 3 Chinese telecom companies
3 years, 11 months ago

New York Stock Exchange starts process to delist 3 Chinese telecom companies

Live Mint  

The New York Stock Exchange is starting the process of delisting securities of three Chinese telecom companies, China Telecom Corporation Limited, China Mobile Limited and China Unicom Limited, it said in a statement on Thursday. The move comes after President Donald Trump in November unveiled an executive order barring U.S. investments in Chinese companies that Washington says are owned or …

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