BEIJING, May 6 (TMTPOST)— Didi Chuxing began to consider spin-off for its community group buying business Chengxin Youxuan in the past few weeks and told investors of the unit that it plans a standalone listing in the year 2022 to 2023, in order to use the proceeds for national expansion and gain competitive advantage over domestic rivals backed by other tech giants such as Alibaba and Pinduoduo, though hasn’t finalized the exact timeline yet, Sina News quoted people familiar with the matter on Thursday. The Chinese ride-hailing giant is urgent to complete funding for its community business prior to its own initial public offering, and one of conditions it offered for the pre-IPO funding is to allow investors to convert Chengxin Youxuan’s shares into Didi’s if the business won’t launch IPO in the coming five years, according to the sources. It’s unclear that how many shares Chengxin Youxuan would sell in future IPO. The unit was valued at US$1.6 billion before the abovementioned funding. Bloomberg’s sources last month revealed Didi has confidentially applied for its U.S. IPO, which could give it a valuation up to $100 billion, and it was also mulling a second listing in Hong Kong after the US listing.