Challenges of Yiqi's IPO: Can electric-assisted bicycles compensate for the decline in shared bike business?

The trend of low-carbon living has become a social phenomenon, with the government's vigorous promotion of "low-carbon and green travel" leading to a deepening of environmental awareness among the public. Green travel has received widespread support from the masses, and shared bicycles are one of them.

However, the shared bicycle business, which was once popular, suddenly declined, causing some related industries to experience a significant drop in revenue.

In recent days, Yiqi (China) Bicycle Co., Ltd. (hereinafter referred to as "Yiqi") has disclosed its response to the first-round audit inquiry from the relevant authorities regarding its IPO, including explanations for financial issues such as income, accounting errors, gross profit margin, and liquidity, which involves the attention of regulatory agencies.

"As the shared bicycle business has declined, we have stopped our shared bicycle business." Yiqi stated in its prospectus, but after losing the revenue from shared bicycles, can new businesses quickly fill the gap?

6 billion to 600 million yuan in just two years

According to Yiqi's official website, the company is a manufacturer of high-end bicycles, electric-assisted bicycles, skateboards, and related accessories. Since its establishment, the company has been committed to becoming a global professional and well-known bicycle product manufacturing service provider, accumulating more than 20 years of research and development experience in producing high-quality bicycles.

In recent years, the global bicycle industry has developed well, especially in China, which has a deep customer base and a mature market for bicycles. The emergence of shared bicycles once created a phenomenon of supply exceeding demand.