More merger and acquisition activity is in store for the power bank rental sector.
His comments reflect a tech and business ecosystem which is becoming increasingly rational and practical.
Hello Transtech, an Alibaba-backed mobility unicorn, is streets ahead of the bikesharing firms that have come before it.
The bike rental giant is currently in negotiations about merging with Hello TransTech, previously known as HelloBike.
The company is currently working with partners in Shanghai, Nanjing, and Chengdu.
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.
The Chinese bike-rental firm will also become a distinct business group within the lifestyle services company.