Chinese ride-hailing giant Didi Chuxing lost 4 billion yuan ($585 million) in the first six months of 2018, people familiar with the matter said, underscoring the depth of competition facing a company already struggling with unprecedented regulatory scrutiny.
The Beijing-based startup backed by Softbank Group Corp. and Apple Inc. doled out about $1.7 billion in subsidies and discounts to passengers and drivers in the first half to neutralize hard-charging rivals such as Meituan Dianping, the people said, requesting not to be named because the matter is private.