The Wall Street Journal

China expands probe of U.S.-listed companies after similar move against Didi

Published: July 5, 2021 at 7:10 a.m. ET

By

Chong Koh PingÂ and

Serena Ng

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Marble sculptures occupy the pediment above the New York Stock Exchange signage, Tuesday Aug. 25, 2020, in New York.

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A unit of China’s cybersecurity regulator launched data-security reviews of apps operated by two U.S.-listed Chinese companies, days after announcing a similar probe into ride-hailing giant Didi Global Inc DIDI, -5.30%.

The latest action targets two truck-hailing apps operated by Full Truck Alliance Co. YMM, +2.26% and an online recruiting app owned by Kanzhun Ltd. BZ, -2.13% Both companies went public in the U.S. in June. Like Didi, they were ordered to stop adding users while the probes are conducted.

On Monday, China’s Cybersecurity Review Office, which falls under the Cyberspace Administration of China, said it had begun a data-security investigation into the apps Yunmanman, Huochebang and Boss Zhipin. It said the review is aimed at preventing national data-security risks, maintaining national security and protecting public interests.

Shares in SoftBank Group Corp. 9984, -5.39%, whose Vision Fund owns stakes in Didi Global and Full Truck Alliance, fell 5.4% in Monday trading on the Tokyo Stock Exchange. The Hang Seng tech index HSI, -0.59%, a gauge of Hong Kong-listed technology stocks that is dominated by large Chinese companies such as Tencent Holdings Ltd. 700, -3.57%, fell 2.3%.

An expanded version of this story can be found at WSJ.com.

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