Chinese ride-hailing firm Didi Global has been fined 8 billion yuan (AU$1.7 billion) by the Cyberspace Administration of China (CAC), the country’s cyber security regulator after a year-long investigation.
The Wall Street Journal first reported the potential amount of the fine early last week.
According to Reuters, sources close to the matter who declined to be identified explained the fine would be more than 8 billion yuan (US$1.28 billion), accounting for about 4.7 per cent of Didi’s $27.3 billion total revenue last year.
By pushing ahead with its $4.4 billion New York listing in June 2021, DiDi has ruffled the Chinese regulator’s feathers who had asked the company to put the float on hold.
DiDi “did not immediately respond to a request for comment”, according to Reuters.