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China launches cybersecurity review of Full Truck Alliance, Kanzhun

By Phate Zhang
Jul 5, 2021 at 9:38 AM UTC
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After ride-hailing giant Didi, three more platforms have been subjected to cybersecurity reviews in China.

To prevent national data security risks, safeguard national security and protect the public interest, the Office of Cybersecurity Review has launched cybersecurity reviews of "Yunmanman," "Huochebang" and "Boss Zhipin," the office said in a statement released Monday.

In order to cooperate with the cybersecurity review and prevent the expansion of risks, the three companies stopped new user registration during the review period, the statement said.

Notably, "Yunmanman" and "Huochebang" merged in 2017 to become Full Truck Alliance Co, which was listed on the New York Stock Exchange on June 22 under the ticker symbol "YMM".

In the IPO, Full Truck Alliance issued 82.5 million ADSs at a price of $19, raising $1.57 billion.

China launches cybersecurity review of Full Truck Alliance, Kanzhun-CnTechPost

Boss Zhipin was listed on the US stock exchange on June 11 under the English name Kanzhun Ltd and the ticker symbol "BZ.

China launches cybersecurity review of Full Truck Alliance, Kanzhun-CnTechPost

On Friday, China's cybersecurity review office said it was implementing a cybersecurity review of Didi Travel to prevent national data security risks, safeguard national security and protect the public interest.

In order to cooperate with the cybersecurity review and prevent the expansion of risks, Didi will stop new user registration during the review period, the announcement said.

Didi hit by cybersecurity review, shares plunge 10% pre-market

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