Ofo, a bankrupt bike-sharing platform, has recently faced criticism on Chinese social media for its deposit refund routines. The function was later deleted by the firm.
On June 23, Tianyancha showed that Dongxia Datong Company was listed as a judgment debtor by the Haidian District People's Court of Beijing, obliging it to pay about 13.416 million yuan in fines.
According to enterprise information platform Tianyancha, Dongxia Datong (Beijing) Management Consulting Co. Ltd., the operator of the now defunct bike-sharing platform Ofo, was found to possess no executable funds following a court order on June 10.
Ofo, plagued by bankruptcy rumors, has had a tough year trying to pay back user deposits. The Chinese bike-sharing startup recently launched a new controversial refund policy.
According to insider information received by 36Kr, one of the cofounders of ofo, Zhang Siding, has established a new venture.
Ofo is back, but perhaps in a different way.