The Didi-funded bike-sharing platform Ofo is suffering from the same scenario, as applications for deposit refunds amounted to over 13 billion by December last year.

The struggling company was sued by a number of partners, including advertisers, purchasers, transporters and house renters.

Ofo's case is not unique, as its counterparts such as Wukong Bike, 3Vbike, Kala Bike, Xiaoming Bike and Kuqi Bike have all confronted operational and capital problems as early as 2017.

The pioneers of the shared economy have advanced technology and a large user base, but the major task confronting them now is how to solve problems such as company management and capital flow.