BEIJING — China’s cybersecurity authority fined ride-hailing giant Didi Global on Thursday in apparent closure of a yearlong probe that prevented the company from adding new users.
The Cyberspace Administration of China said it fined Didi 8.026 billion yuan ($1.19 billion) after deciding the company violated China’s network security law, data security law and personal information protection law.
The administration also fined two Didi executives 1 million yuan each.
Didi said in an online statement it accepted the cybersecurity regulators decision.
Didi did not immediately respond to a CNBC request for comment.
The cybersecurity authority’s announcement did not say whether the fine meant that Didi would soon be able to add new users or restore its presence on app stores in China.
The investigation was first announced last year, just days after Didi’s initial public offering on the New York Stock Exchange. Didi had come under fire after it reportedly pushed ahead with its IPO despite outstanding regulatory concerns about data security.
Less than six months later, the company said it would delist from the NYSE and make plans to list in Hong Kong.
— CNBC’s Christine Wang contributed to this report.
