January 18, 2019 / 11:19 AM / a month ago

Chinese drone maker DJI expects $150 mln loss due to corruption -report

SHANGHAI, Jan 18 (Reuters) - The world’s largest maker of consumer drones, China’s SZ DJI Technology Co Ltd, expects losses of more than 1 billion yuan ($150 million) for 2018 due to internal corruption, the state-run China Securities Journal said on Friday.

The newspaper cited an internal company report on corruption, which said that more than 40 people at privately-held DJI had been investigated. DJI did not immediately respond to Reuters’ request for comment on the report.

Several Chinese technology companies have recently launched initiatives to stamp out corruption and earlier this month, Beijing-based ride-hailing giant Didi Chuxing said it had dismissed more than 80 employees in 2018 over corruption.

DJI’s human resources department was quoted by the newspaper as saying it employed 12,000 people at the end of 2018 and expects to grow to 14,000 by the end of the year. ($1 = 6.7730 Chinese yuan renminbi) (Reporting by Josh Horwitz Editing by Alexander Smith)

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