Caixin Global – Latest China News & Headlines

Home >

China-Built Tesla Model 3 to Go On Sale Friday
Ant May Join Race for Singapore Virtual Bank Licenses
Didi Chuxing to Test Robo-Taxi Service in Shanghai, CNBC Reports
Canaan Shares Up and Down on First Trading Day After U.S. IPO
Chinese Official Talks Up 5G Subscriber Base With Veiled Criticism of U.S. Policy on Huawei
China Revises 2018 GDP Upward, Citing Changes in Basic Data
U.S. Allows Some Firms to Restart Sales to Huawei, Including Microsoft
New Energy Vehicles Struggle to Find Mass Audience
Alibaba Shares Attract High Gray-Market Bids as Hong Kong First Trading Day Looms
Chinese Officials Reveal New Details of Country’s 6G Research
Meituan Posts Second Consecutive Quarterly Profit
Making Reference to ‘State Secrets,’ China Moves to Restrict Vulnerability Disclosures
Huawei Lawyers Present New Legal Argument to Stop Meng Wanzhou Extradition To U.S.
Third Quarter Earnings Show Parcel Delivery Price War Rages On
China Won’t Arbitrarily Adjust Historical GDP Data, Statistics Official Says
NetEase’s Youdao Posts Both Soaring Revenues and Widening Losses in Q3 Earnings Report
Beijing Police Work With Private Company Sinogene to Admit Six Cloned Dogs
Chinese Bitcoin-Mining Firm Raises $90 Million in U.S. Listing
Tencent-Backed Yeahka to Seek $300 Million in Hong Kong IPO
Pinduoduo Shares Plunge After Report of Wider 3Q Loss
Billionaire Wang Jianlin’s Son Released From Spending Ban
China-Built Tesla Model 3 to Go On Sale Friday
U.S.-Blacklisted Chinese AI Firm to Seek Hong Kong IPO Approval: Report

By Han Wei / Dec 28, 2018 02:53 AM / Business & Tech

Photo: VCG

Photo: VCG

Chinese bike-sharing startup Hellobike said Thursday that it has completed a new round of fundraising from a group of investors led by Ant Financial Services Group and Primavera Capital Group.

The funding totaled billions of yuan (1 billion yuan = $146 million), Hellobike said without providing a total.

Hellobike is the No. 3 player in China’s white-hot bike-sharing market following Mobike and Ofo, according to market reports from research firm iiMedia.

But major bike-sharing companies have been struggling to sustain growth after years of cut-throat competition and heavy spending. Ofo has been in a capital crunch this year and faces mounting pressure to refund customer deposits.

Related: Admitting Mistakes, Ofo CEO Laments ‘Immense’ Cash-Flow Problems

Share this article
Open WeChat and scan the QR code