Chinese ride-sharing startup T3 Travel announced the completion of its Round A financing on Tuesday, amounting to 7.7 billion yuan ($1.2 billion).
With several top players withdrawing from the competition, the bloated market is entering a new phase of consolidation.
T3 Travel is about to complete its latest round of financing, including equity financing of more than 5 billion yuan ($755 million).
Six Tianjin Government Departments conducted a joint interview with eight car-hailing platforms on Wednesday, including Didi Chuxing, T3 Travel, Meituan and CaoCao Chuxing.
Deputy director of the National Network Information Office told attendees at a press conference that China's forthcoming rules for protecting critical information infrastructure are not aimed at firms planning overseas listings.
Didi Global affirmed in a Weibo post that the company is actively and fully cooperating with regulators' ongoing cybersecurity probe, and that rumors concerning changes to the company's management are not true.
A representative from Beijing-based internet technology firm Bytedance has denied a recent report regarding its alleged plan to launch an IPO at the Hong Kong Stock Exchange in the near future.
On the evening of July 29th, the Wall Street Journal reported that Didi, an online ride-hailing company, was considering privatization to appease the dissatisfaction of Chinese authorities. The report said that the company would also compensate investors for losses incurred by the company's listing in the United States a month earlier. Didi later denied this report on its official Weibo channel. Prior to that time, the company's pre-market share price spiked 50%.
On July 13th, EST, Jianzhi Education submitted its prospectus to the Securities and Exchange Commission (SEC), eyeing to raise $50 million. The pricing terms were not disclosed.
Meituan Taxi app, which had been taken down from online stores two years previously, has now been relaunched.
A number of Chinese companies have reportedly cancelled IPO plans in the U.S., in fear of national security review from the authority.
After being removed from app stores, Chinese ride hailing giant Didi had its mini program pulled from WeChat and Alipay's platforms.
Xpeng’s shares rose 1.8% at the opening of trading to reach 168 Hong Kong dollars a piece, as the company carried out a dual primary listing on the Hong Kong Stock Exchange.
Didi Chuxing has been accused of the serious illegal collection of personal information and has been ordered to be removed from app stores and has stopped registering new users.
Recently-listed ride-hailing app, Didi Chuxing, has now found itself the subject of a national security and public interest investigation by China's cybersecurity watchdog.
Chinese ride-hailing giant Didi Chuxing went public on the New York Stock Exchange on Wednesday night with an issue price of $14, meaning that the company’s market value is expected to reach about $67 billion.
Didi updated its prospectus on June 25th, Beijing time. The new document shows that the ride-hailing firm expects to issue 288 million shares, and plans to raise a total of about $4 billion, with a maximum of about $4.6 billion.
According to enterprise information platform Tianyancha, Dongxia Datong (Beijing) Management Consulting Co. Ltd., the operator of the now defunct bike-sharing platform Ofo, was found to possess no executable funds following a court order on June 10.
The Chinese government warned on Thursday that companies involved in the sharing economy need to comply with regulation and price their services properly.
Chinese automaker Guangzhou Automobile Group's electric vehicle branch GAC Aion announced on Monday that it will develop self-driving new energy vehicles with ride-hailing giant Didi Chuxing.