Didi’s revenue slumps after crackdown by Chinese government

 

Didi Global Inc. said Wednesday its third-quarter revenues dropped 11.5% from the preceding three months, after Chinese regulators launched a cybersecurity probe into the ride-hailing firm and forced many of its apps to be taken down. Beijing-headquartered Didi
DIDI,
-8.18%
also said Daniel Zhang, the chairman and chief executive of Alibaba Group Holding Ltd.
BABA,
-2.36%,
has resigned from its board. He has been succeeded by Yi Zhang, a senior legal director at the Chinese e-commerce giant who has previously worked at several international law firms.

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