According to the Cyberspace Administration of China (CAC), the corporation is the target of “conclusive evidence.” Just days after Didi introduced its shares in the US last year, the regulator stated that it had opened a probe into the company. Since then, trading in Didi’s shares has ceased on the New York Stock Exchange.
The CAC also said it had imposed fines of one million yuan each on Didi Global’s chairman and chief executive Cheng Wei and president Liu Qing.
In response, Didi said it accepted the ruling and would “conduct comprehensive and in-depth self-examination”.
“We will take this as a warning and pay equal attention to both security and development,” the company said in a post on Chinese social media platform Weibo.
Didi came under intense pressure following its US stock market debut in June last year.
Within days of the initial public offering Beijing announced a crackdown on technology companies listing overseas.
In December, Didi announced plans to exit the US stock market and relist its shares in Hong Kong.
The company has become one of the most high profile targets of the Chinese government’s tough approach to the country’s technology industry.
Authorities have been pursuing a wide-ranging crackdown on companies, from slapping e-commerce firm Alibaba with a record fine to ordering technology giant Tencent to suspend the roll out of new apps.
It ordered Didi to be removed from app stores last year and launched an investigation, citing data collection concerns, days after the firm moved forward with its New York listing, reportedly against authorities’ wishes.
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