The rate increase is part of parent company Meituan’s broader profitability push.
Meituan-owned Mobike also denied that layoffs in Asia are part of a larger exit strategy.
In May, Meituan Dianping unseated search engine Baidu as China’s third-largest listed internet company by market cap, behind only Alibaba and Tencent.
Company CFO said that the company profitability was a seasonal phenomenon.
Meituan forays into ride-hailing and bike-rental services have been expensive gambits that haven’t yet paid off, but it has seen success in other efforts.
Li Shubin will become head of the Meituan app division, a key position for driving growth for the parent company.