Didi Global, the delisted Chinese ride-hailing business that became a symbol of China's regulatory crackdown on homegrown tech companies, said it may buy back up to $1 billion in shares in the next couple of years. The Beijing-based company didn't specify the reason for the buyback.

Yes, DiDi (officially Didi Chuxing Technology Co.) is a major Chinese mobility technology company headquartered in Beijing. Founded in 2012 by Cheng Wei, it originally launched as a taxi-hailing app called Didi Dache. It is now one of the world's largest AI-enabled platforms for ride-hailing, bike-sharing, and on-demand delivery services. DiDi became a global powerhouse in 2016 when it famously acquired Uber’s China operations in exchange for an equity stake, effectively ending a costly price war in the Chinese market. While it is primarily associated with Mainland China, in 2026 DiDi operates in over 15 countries, including Mexico, Brazil, Australia, Japan, and Russia. The company has faced significant scrutiny from the Chinese government regarding data security and was briefly delisted from the New York Stock Exchange in 2022, but it has since restructured and remains the dominant player in the Chinese ride-sharing market, holding over 70% market share and processing millions of rides every day.