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An early investor in Ofo, Allen Zhu with GSR Ventures, said Saturday at a forum continuing to burn cash to compete in the bike-sharing market is meaningless for Mobike and Ofo and only results in a huge loss, adding that mergers are a complicated process. He also said where mergers are concerned investors, entrepreneurs, shareholders and users have to balance their interests and benefits, according to Securities Daily.
Among these cities, Shanghai became the first city with its GDP breaking through 3 trillion yuan in 2017, while Beijing, Shenzhen and Guangzhou saw their GDP cross more than 2 trillion yuan.
An audit showed the company earned more than 38.4 million yuan selling cable for the project, it said.
An employee checks a Hongqi sedan at an assembly workshop of China FAW Group in Changchun, Northeast China's Jilin province, on June 19, 2019. [Photo/Xinhua]
An all-new BYD Tang attracts many visitors at an auto show in Shenzhen, Guangdong province. [Photo provided to China Daily]
