Ofo only ordered over 80k bicycles from its manufacturing partner Shanghai Phoenix so far this year. This is far short of the anticipated 5 million bikes per year the two companies have planed one year earlier, local media is reporting.

The two companies reached a 5-million-bike deal in May last year, at the peak of China’s bike rental battle. The purchase order promised to bring a profit of about RMB 40 million ($5.79 million) for Phoenix, but the company’s announcement shows that only 37.23% of the order is completed.

Update: Ofo has responded to our report: “Ofo aims to promote the sustainable development of bike rental as well as the whole supply chain of this industry. Some cities have placed a ban on putting more new bikes and ofo is going to cooperate with these local governments. But as existing bikes are entering the three-year retirement period, there will more demands for bike replacement, which will form a sustainable and long-term growth for the industry.”

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Emma Lee

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.