Fans of shared-bike leader Mobike will soon have to bid the company farewell, or at least its catchy name that has become synonymous with its trademark orange and gray bikes.

That's the word coming from internet services giant Meituan Dianping, which bought Mobike last year for $2.7 billion but has been dragging its feet on its future plans for the company. A Meituan representative told Caixin that Mobike is "very likely" to be renamed Meituan Bike.

Mobike's Chinese name will make a similar change, dropping its familiar title to be replaced with Meituan.

Mobike's standalone app may also be headed for the shared economy scrapheap, and merged instead into Meituan's own app, according to an internal company letter cited by the company representative.

Mobile has emerged as the champion in China’s fierce shared-bike wars. No. 2 player Ofo reported that is bleeding cash and has been laying off staff.

Related: Troubled Ofo Dismisses Its International Business Department

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