Fifteen shareholders of bicycle-rental startup Hello TransTech have withdrawn from the company, according to Chinese business research platform Tianyancha.com.

The Ant Finance-backed company’s registered capital was reduced by nearly RMB 992 million (around $147.6 million) to RMB 43 million, according to the platform. The changes were disclosed on Wednesday.

Hello TransTech did not respond to TechNode’s request for comment.

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Wei Sheng

Wei Sheng is a Beijing-based reporter covering hardware, smartphone, and telecommunications, along with regulations and policies related to the China tech scene. Before joining TechNode, he wrote about...