Geoffrey Smith 

Investing.com — Chinese regulators are set to end an investigation into ride-hailing giant Didi Global (NYSE:) and two other U.S.-listed companies after nearly a year, The Wall Street Journal reported on Monday.

This would confirm Beijing’s first concrete signs that it is easing the pressure on its tech giants after an unsuccessful campaign to lower their economic power.

For Didi investors, however, it comes too late to repair the damage: having listed in New York last year (against the wishes of Chinese regulators) at a price of $14, the ADRs had fallen to only $1.85 as of Friday’s close. The company decided last month to delist from the exchange, but hasn’t yet said what price it will offer existing shareholders for their stock.

Premier Li Keqiang repeatedly stated that the government will change its approach toward tech giants. This has been amplified this year by the heavy-handed treatment of COVID-19 epidemics which have had a significant impact on the economy.

According to data released Monday morning, a closely watched barometer measuring Chinese business activity was still in contractionary territory in may, despite rebounding from the April low. It was 41.4 in May, up from 36.2 during April.

The WSJ reported that regulators will also be investigating logistics platform Full Truck Alliance and Kanzhun, an online recruitment firm (NASDAQ:), in addition to Didi. When the investigation was announced in 2013, the WSJ reported that these three companies combined had an estimated market value of $115 billion. Since then, that number has fallen to $25 Billion.