Didi Global  fell 4.3 % in premarket trading on Thursday, as the ride-hailing company reported a third-quarter loss due to decreased revenue and greater regulatory costs.

The company reported a loss of 30.4 billion yuan ($4.7 billion) for the quarter ended September 30, compared to a net profit of 665 million yuan ($103 million) a year before.Didi Logo - PNG and Vector - Logo Download

Revenue declined from 43.4 billion yuan ($6.7 billion) a year ago to 42.7 billion yuan ($6.7 billion).

The company suffered a nearly 21 billion yuan investment loss, owing primarily to its recent entry into the highly competitive sector of delivering hyper-local goods.

Didi's public life has been turbulent from the beginning. After discovering that Didi disobeyed their suggestion to delay its public issue awaiting an investigation into its data handling procedures, Chinese authorities imposed restrictions on onboarding new users and ordered online app retailers to remove its apps from their platforms.

The company then opted to delist from the NYSE and list in Hong Kong, owing to pressure from Chinese regulators, according to sources. The Hong Kong listing is still in the works.

Customers have been lost as a result of the regulatory instability, which has also increased compliance expenses.

Didi was compelled to comply with new rules to adequately reward its drivers and strengthen data control, which resulted in a 16 % increase in spending during the quarter. Interest income dropped by about a third.