The Chinese bike-rental firm will also become a distinct business group within the lifestyle services company.
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.
As the bike-rental craze cools down, so do Chinese firms’ ambitious globalization plans.
Despite the positive news, the filing reveals that Hello Inc. still has a ways to go to reach maturity. The company has faced massive losses.
Company’s best short-term strategy is to direct users to its profitable services such as travel.
Berlin’s data protection commissioner is investigating car and bike-rental companies for violations of GDPR.
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.
The law comes as concern mounts about the financial stability of a number of mobility firms in the rental economy sector.
Mobike is considering 10 more Indian cities and manufacturing bikes in India.