DiDi Initiates Pay Transparency For Drivers Post Clampdown: Reuters

China's Uber Technologies UBER equivalent DiDi Global Inc DIDI added a new function to its drivers' app to understand how much they earn and how much passengers pay for each ride, Reuters reports.
It was available in seven of China's cities, including Shenyang and Changchun, for now. Didi will continue to adjust its pricing strategy after receiving drivers' responses.
In May, China's state news agency Xinhua slammed Didi for collecting over 30% of what customers pay for a ride.
Didi defended that drivers on average received 79.1% of passenger fees for rides last year and that 3.1% of fees went towards its profit.
Multiple Chinese regulators are probing the ride-hailing company for customer data handling. DiDi had to lower its IPO valuation amid the crackdown.
The ride-hailing business is already battling the challenges of high fares despite the drivers' return to work.
Price Action: DIDI shares traded lower by 2.70% at $8.10 in the market session on the last check Monday.

Momentum40.93

Growth9.52

Quality-

Value46.31

Short

Medium

Long