China's largest ride-hailing company, Didi Global swung to a net profit of 1.4 billion yuan ($196.24 million) for the second quarter from a 300 million yuan loss a year earlier. Didi has begun recovering after drawing the attention of China's cyberspace regulator in 2021 over its pursuit of a U.S. initial public offering without approval, prompting an inquiry that prohibited it from adding users and saw many of its apps removed from major app stores.
China's largest ride-hailing company, Didi Global swung to a net profit of 1.4 billion yuan ($196.24 million) for the second quarter from a 300 million yuan loss a year earlier. Didi has begun recovering after drawing the attention of China's cyberspace regulator in 2021 over its pursuit of a U.S. initial public offering without approval, prompting an inquiry that prohibited it from adding users and saw many of its apps removed from major app stores.