Core Viewpoint - The leading domestic public bicycle company, Yong'anxing, announced a significant net loss forecast for the first half of 2025, indicating a decline in performance due to insufficient growth in public bicycle business and increased credit impairment losses from delayed payments by some clients [1] Group 1: Company Performance - Yong'anxing expects a net loss of 62 million to 80 million yuan for the first half of 2025, representing a year-on-year decline of 694.63% to 925.33% [1] - The decline in performance is attributed to a lack of growth in the public bicycle business and a reduction in existing inventory [1] Group 2: Industry Trends - Several regions, including Anhui and Heilongjiang, have announced the cessation of public bicycle operations this year, with specific cities like Ma'anshan and Chuzhou halting their services in late May [1] - The usage frequency of public bicycles has been low, leading to their classification as "chicken ribs," indicating they are of little value [1] - The rise of private cars and electric bicycles, along with the expansion of public transport networks and the convenience of shared bicycles, has rendered public bicycles outdated [1] Group 3: Lessons Learned - The initial introduction of public bicycles aimed to address the "last mile" issue, but the project faced criticism regarding the convenience of borrowing and returning bikes [2] - There is a need for thorough feasibility studies and flexible exit mechanisms to adapt to market changes, as the emergence of shared bicycles has overshadowed public bicycle projects [2][3] - The overall assessment of public bicycle projects indicates a lack of effective usage and management, leading to significant financial burdens on local governments [3]