The rate increase is part of parent company Meituan’s broader profitability push.
Hello Inc’s filing shows that the sector’s few remaining players now seek sustainable growth after reckless expansion in earlier years.
Mobike has started to charge Shanghai users an extra RMB 20 (around $3) if they park a bike outside the company’s ‘area of operation.’
Hellobike’s new prices are more expensive than taking the bus in Beijing, which may be a blow to its business model.
Mobike was added to WeChat Pay’s interface as a third-party service.
Rising costs for Meituan’s core food delivery business drove fourth quarter losses.
Hu’s resignation comes at a tumultuous time in China’s bike-rental industry.
Company’s best short-term strategy is to direct users to its profitable services such as travel.
A Bloomberg article found that Mobike operation details in the recent Meituan Dianpin filing were at odds with previously made public claims by the company.
Meituan’s Q1 results show that its more disciplined expansion strategy is paying off.