It wasn’t exactly what DiDi Global Inc. (DIDI.US) had in mind when its shares debuted on the New York Stock Exchange last year. But one year later, a hasty exit from New York looks almost inevitable for China’s answer to Uber. No matter what route it takes – including a possible new listing somewhere else – the road ahead for the former high-tech superstar will be pockmarked with challenges.

DiDi revealed the first part of its bumpy roadmap forward in a statement last Saturday, saying it will hold an extraordinary shareholder meeting on May 23 to vote on officially abandoning its New York listing with a privatization. It said it was taking the step to comply with China’s latest internet security rules. It added it wouldn’t seek a listing on any other exchange before the exit is concluded, shooting down talk that it might go public in Hong Kong first before withdrawing from New York.

If shareholders approve the decision, Didi would become the shortest-lived U.S.-listed Chinese stock of all time. The company rushed to complete its IPO last June 30, one day shy of the 100th birthday of China Communist Party. Its price soared from $14 to as much as $18.01 on its debut, though the euphoria was short-lived. On 4 July, China’s cyber security regulator accused the company of illegally collecting personal information, touching off a prolonged run-in with regulators that has weighed heavily on its shares ever since.