Didi's share value has plunged by more than half since its IPO. It remains unclear what will happen to the money that thousands of private investors - many of them mom-and-pop retail investors - have already spent on Didi's shares.
Just this week, six state regulators announced new joint rules that place additional restrictions on ride-hailing platforms, including Didi, by setting caps on fees the companies can collect per ride. In July, the company was fined Rmb11 million ($1.73 million) for failing to seek state approval before completing 22 merger and acquisition deals. The new rules do not explicitly mention China, but the measures are widely seen as an effort to gain insight into the operations of Chinese firms, which the SEC says it has been unable to satisfactorily audit since 2007.įollowing the national security investigation, downloads of several Didi apps remain suspended in China, and the company cannot sign up new users or drivers. Securities and Exchange Commission said it was adopting amendments that would require foreign companies to submit to open-book audits if they list in the United States. Prior to its listing, 10 times the number of investors subscribed to buy into Didi than there were available shares.ĭidi's delisting announcement comes just hours after the U.S. In June, Didi clinched a highly anticipated $4.4 billion initial public offering on the New York Stock Exchange. to tighten control over data, which is regarded as an integral element of national security." "The rules are really tightening," said Lester Ross, a Beijing-based partner at law firm WilmerHale. The announcement reflects the rapid reversal in the transportation company's fortunes as China goes on a regulatory blitz targeting some of the country's biggest private technology firms. (or I'll come to see you in the neighborhood (i.e.The ride-hailing company Didi says it has about 600 million users, theoretically giving the company access to the addresses and travel history of many government employees who use the app.īEIJING – The Chinese ride-hailing platform Didi Chuxing says it will delist from the New York Stock Exchange and instead move to the Hong Kong Stock Exchange after coming under intense Chinese regulatory scrutiny. (I'll come to see even if you're on the top of the highest mountain) This is a sign of beauty (for him at least) (your eyes are sleepy - he's describing her eyes, he says that they're not wide open, they're opened a little bit only. (drop the fishing net in the sea and cry on the bad luck)
Didi didi song driver#
(he's talking to the taxi driver but I'm not sure what he means by "rofd ahta") (who doesn't knokw her belt? (explained above) (drop the fishing net in the sea and cry on the bad luck - this is another metaphor, he's describing his bad luck just like a fisherman who drops his fishing net in the sea and gets no fish) This last one makes more sense to me and it's probably what Khaled is trying to say) It's a metaphor that means "everybody knows her" or possibly means that she's known well by other men because she always hangs in bars, or maybe he's just saying "just like a woman that hangs in bars is known very well to other men, it's also very clear how I feel towards you (e.g. (This literally means "who doesn't know her belt?". (even if they take you to the top of the highest mountain.) because she'll always be close from him he'll know everything about her and won't need to ask people about her) (I will not make you away from me so I don't ask about you later i.e. (I will not make you away from me so I don't cry later) (take take, take take, take take take this beautiful girl away)
(take take, take take, take take, take take the beautiful girl away)ĭidi wah, didi, didi di hazzine daaayyeeeah (I will not make you away from me so I don't cry later i.e. (I'm burning in the fire of love but you're not) This link has now gone dead, it seems, so here's an alternative, from Leo's Lyrics Database: Here's a link to the lyrics of "Didi"-in Arabic, transliterated, and translated into English.
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