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Can bike-sharing in China turn a profit? Survivors Meituan, Ant-backed Hello try by raising fees

Chinese bike-sharing services that survived years of cutthroat price wars and a spectacular boom-bust cycle have decided to raise prices to try and turn a profit.

After losses amounting billions of yuan and the collapse of a slew of brands, including the fall of unicorn Ofo in 2019, the three biggest remaining firms – Meituan, Hello and Didi Chuxing – have curtailed expansion plans to focus on profitability.

Meituan’s bike rental service, formerly known as Mobike, will raise the price for a seven-day membership to 15 yuan (US$2.2) from 10 yuan. Memberships for 30 days and 90 days will be priced at 35 yuan and 90 yuan, up from 25 yuan and 60 yuan, respectively.

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