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LinkDoc's decision to suspend its 211 million IPO, first reported by Reuters, is likely to be followed by others, analysts said, although they noted that U.S.On Wednesday, LinkDoc filed an amendment where it added risks related to China's new capital markets regulation and oversight, which had been issued by the country's regulator the day before.

#Didi linkdoc us ipotimes full

Chinese regulators are concluding their probes into ride-hailing platform Didi, digital freight platform Full Truck Alliance, and online recruitment platform Kanzhun, in preparation of lifting the current ban on adding new users. But the three companies are expected to face financial penalties while offering the government a 1% stake and direct government involvement in corporate decision-making.Īll three companies were listed in the U.S.Īs a result, these companies’ apps will now be allowed to be listed on domestic app stores and allow new registrants, the Wall Street Journal reported on Monday, citing people familiar with the discussion.Īffected by the news, Didi’s stock price soared by over 60% and Full Truck Alliance’s rose by over 37%, while Kanzhun’s rose by over 20%. last June, but soon after, the Chinese government began to strengthen network censorship and conduct data security investigations into these companies. Investigators conducted a month-long on-site investigation into the companies’ internal records, emails and internal communications, but authorities did not find any substantive problems with the companies, according to people familiar with the matter.Īmong the three companies, Didi has been the hardest hit and still faces scrutiny from Chinese security departments and relevant departments in the US. Medical data group LinkDoc Technology Ltd in July became the first Chinese company to shelve plans for an IPO in the United States due to Beijing's clampdown on overseas listings by domestic firms.

A few days after Didi went public in New York, the Chinese regulator ordered the removal of 25 mobile apps operated by the company.

Beijing was pressing audio platform Ximalaya to drop U.S. Faced with Possible Effects of Didi App Removal, Chinese Companies Keep, Ximalaya and LinkDoc Cancel IPO Plans in US Jul 09, 2021, 13:07pm 9 20:11:02 Pandaily The Financial Times reported on Thursday that Keep, a Chinese sports-oriented social platform, and Ximalaya, the largest podcast platform in China, have both cancelled previous IPO plans in the United States during recent weeks. It also asked the company to stop registering new users, citing national security and public interest reasons. the LinkDoc deal was due to the crackdown, the sources said.

#Didi linkdoc us ipotimes drivers

SEE ALSO: Ride-hailing Didi to Be Delisted from NYSEįull Truck Alliance has been committed to building an efficient platform to match drivers and consignors. On June 22, 2021, the company was listed on the New York Stock Exchange. In July, 2021, the National Cyberspace Administration carried out a network security review on its apps “Yunmanman” and “Huochebang” and set limits on the registering new users. According to a report by Cailian Press, these apps have now resumed new user registrations.