DiDi (DIDI) Plunges 8% After China Launches Cyber Security Review

July 2, 2021 7:36 AM EDT
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(Updated - July 2, 2021 7:56 AM EDT)

DiDi Global (NYSE: DIDI) traded lower Friday, just days after its U.S. IPO, after China launched a cyber security review of its app, Didi Chuxing.

Didi Chuxing was asked to halt new user registrations during the review.

Shares declined 8%.

Translated document:

"In order to prevent national data security risks, maintain national security, and protect the public interest, in accordance with the National Security Law of the People’s Republic of China and the Cybersecurity Law of the People’s Republic of "Implement a cyber security review. In order to cooperate with the network security review work and prevent risks from expanding, "Didi Travel" stopped new user registration during the review period.
Special announcement.
Cyber ​​Security Review Office"

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