July 5 (Reuters) – China’s biggest ride-hailing firm Didi Global Inc (DIDI.N) said on Sunday that the removal of its “DiDi Chuxing” app from smartphone app stores in China is expected to have an adverse impact on its revenue.
Earlier on Sunday, China’s cyberspace regulator ordered app stores to stop offering Didi’s app after finding that the company had illegally collected users’ personal data. read more
“The Company expects that the app takedown may have an adverse impact on its revenue in China,” the company said in a statement.
The removal of Didi’s app, which does not affect existing users, comes days after Didi made its trading debut on the New York Stock Exchange in an initial public offering that raised $4.4 billion. read more
In a June filing, Didi reported revenue of about 42.2 billion yuan ($6.5 billion) for the three months ended March 31. Of that, 39.2 billion