SEE ALSO: Faced with Possible Effects of Didi App Removal, Chinese Companies Keep, Ximalaya and LinkDoc Cancel IPO Plans in USĪccording to its official website, Shanghai Ximalaya Technology Co., Ltd., established in 2012, is a leading online audio sharing platform in China. In terms of user data, as of the first quarter of 2021, there were 250 million monthly active users of Ximalaya products, including 104 million monthly active users of the Ximalaya app and 146 million monthly active users of IoT products and other third-party open platforms. In the first quarter of 2021, the company’s operating income was 1.16 billion yuan, a year-on-year increase of over 65%. The prospectus shows that in 2020, Ximalaya’s operating income was 4.05 billion yuan ($628 million), a year-on-year increase of more than 50%. On May 1 this year, Ximalaya publicly submitted an IPO application to the SEC. Meanwhile, Chinese media outlet Sina Tech has reported that Ximalaya previously registered Xima Holdings Limited in Hong Kong on August 23. on Friday, after applying for a listing in the country in April earlier this year. It will make a final decision about the listing venue within the next two weeks, they added.According to documents produced by the United States Securities and Exchange Commission (SEC), Chinese streaming platform Ximalaya requested to withdraw its initial public offering (IPO) plan in the U.S. The CAC and Ximalaya did not respond to requests for comment. HONG KONG China’s largest online audio platform Ximalaya will file for its Hong Kong initial public offering (IPO) next week after dropping its plans to list in the United States, according. ![]() The Cyberspace Administration of China on Sunday banned Didi from app stores after saying it posed a cybersecurity risk for customers. Shanghai-based Ximalaya, which filed publicly for the U.S. ![]() From May 22, Didi’s ride-hailing drivers in Latin America will need to take a selfie with mask on to pass the AI verification, and from June they will need to report their body temperature to. 'Didi Chuxing app is found to have severely violated the laws. IPO in late April, has started pre-marketing the float since early May and looked to raise about $500 million, said two of the sources. The potential change of venue comes as China further tightens its ideological grip on private media and internet businesses amid China-U.S. The decision to pull the LinkDoc deal was due to the crackdown, the sources said. tensions.Ĭhina's ruling Communist Party (CCP) has long maintained a tight grip over ideology and propaganda, especially over state media which it can use to assert its authority. One of the sources said the regulatory uncertainty affected both the company and investors. LinkDoc filed for an initial public offering in the United States last month and was due to price its shares after the U.S. HONG KONG Chinese medical data group LinkDoc Technology has called off its U.S. ![]() Ximalaya plans to seek an initial public offering in Hong Kong, scrapping plans to go public in the US after Beijing implemented new rules for overseas listings. "Domestic regulators have become more uncomfortable with Chinese media, content firms which operate in the country and obtain voluminous user data, but are incorporated offshore and now seek overseas listings," one of the sources said.Īnother of the sources said that the Ximalaya move also comes amid Beijing's growing concerns that U.S. initial public offering at the last minute, two people familiar with the transaction said, becoming the first casualty of Beijing’s clampdown on overseas listings. China is pressing the country's largest online audio platform Ximalaya to drop plans to list in the United States and go for Hong Kong instead, three people with knowledge of the matter said, showing how the authorities are seeking to further tighten their grip over private media and internet businesses. The company planned to raise up to 210 million on the tech-heavy. Ximalaya, the country's top podcast and audio app operator which aimed to go public in New. Regulators will potentially gain greater access to audit documents of Chinese companies listed in New York, notably those that involve massive user or national data.
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