bodyType

customContents

entityId

printArticlePageQuery

filter

article

body

urlAlias

articleSectionsContent

articleSeoArticle

articleSourceHeaderArticle

contentSchemaRenderContent

contentSubHeadlineContent

contentHeadlineContent

mainImagePrintArticleArticle

authorBlockPrintArticleArticle

contentSponsorTagContent

articlePianoPaywallContent

scmpYoutubeContent

hooksTrackPageViewArticle

query printArticlePageQuery(
  $entityId: String!
  $customContents: [CustomContentInput]
  $bodyType: BodyFormatTypeEnum
) {
  article(filter: {entityId: $entityId}) {
    entityId
    body(customContents: $customContents, type: $bodyType) {
      json
    }
    urlAlias
    ...articleSectionsContent
    ...articleSeoArticle_3o8td4
    ...articleSourceHeaderArticle
    ...contentSchemaRenderContent
    ...contentSubHeadlineContent
    ...contentHeadlineContent
    ...mainImagePrintArticleArticle
    ...authorBlockPrintArticleArticle
    ...contentSponsorTagContent
    ...articlePianoPaywallContent
    ...scmpYoutubeContent
    ...hooksTrackPageViewArticle
    id
  }
}

fragment articlePianoPaywallContent on Content {
  __isContent: __typename
  ...hooksPaywallPromiseContent
}

fragment articleSectionsContent on Content {
  __isContent: __typename
  sections {
    value {
      ...helpersCheckIfNewsSectionInFirstIndexSection
      ...entityLink
      name
      id
    }
  }
}

fragment articleSeoArticle_3o8td4 on Article {
  ...hooksArticleSeoArticle
  ...helpersCheckIsPostiesArticle
  ...helpersGetArticleTypeArticle
  entityId
  publishedDate
  updatedDate
  summary {
    text
  }
  subHeadline {
    text
  }
  body(customContents: $customContents, type: $bodyType) {
    text
  }
  keywords
  sections {
    value {
      name
      id
    }
  }
  topics {
    name
    entityId
    id
  }
  urlAlias
  authors {
    name
    id
  }
  images {
    style(filter: {style: "768x768"}) {
      url
    }
  }
  readingTime
}

fragment articleSourceHeaderArticle on Article {
  urlAlias
  ...entityLink
}

fragment authorBlockPrintArticleArticle on Article {
  ...defaultArticleDateContent
  ...authorNamesArticle
}

fragment authorNameAuthor on Author {
  ...entityLink
  name
  entityUuid
}

fragment authorNamesArticle on Article {
  authorLocations
  authors {
    entityId
    location
    ...authorNameAuthor
    id
  }
}

fragment blockquoteQuoteContent on Content {
  __isContent: __typename
  ...contentShareWidgetContent
}

fragment checkersCheckContentContainsStarlingImageContent on Content {
  __isContent: __typename
  topics {
    entityId
    id
  }
}

fragment contentHeadlineContent on Content {
  __isContent: __typename
  headline
  socialHeadline
  ...contentHeadlineTagContent
  ...helpersUseContentSponsorContent
}

fragment contentHeadlineTagContent on Content {
  __isContent: __typename
  ...hooksContentHeadlineTagContent
}

fragment contentNewsletterWidgetContent on Content {
  __isContent: __typename
  topics {
    relatedNewsletters {
      ...helpersMassageToNewsletterItemNewsletter
      id
    }
    id
  }
  sections {
    value {
      relatedNewsletters {
        ...helpersMassageToNewsletterItemNewsletter
        id
      }
      id
    }
  }
  ... on Article {
    relatedNewsletters {
      ...helpersMassageToNewsletterItemNewsletter
      id
    }
  }
}

fragment contentSchemaRenderContent on Content {
  __isContent: __typename
  ...blockquoteQuoteContent
  ...imageContent
  ...inlineWidgetContent
  ...photoGalleryWidgetContent
  ...scmpYoutubeContent
}

fragment contentShareWidgetContent on Content {
  __isContent: __typename
  entityId
  urlAlias
  shortUrl
  socialHeadline
  headline
}

fragment contentSponsorTagContent on Content {
  __isContent: __typename
  ...helpersUseContentSponsorContent
}

fragment contentSubHeadlineContent on Content {
  __isContent: __typename
  subHeadline {
    json
  }
  summary {
    json
  }
  ...contentSchemaRenderContent
}

fragment defaultArticleDateContent on Content {
  __isContent: __typename
  ...hooksArticleDateUtilsContent
}

fragment entityLink on BaseWithApplicationAndUrlAlias {
  __isBaseWithApplicationAndUrlAlias: __typename
  __typename
  entityId
  entityUuid
  urlAlias
  urlRedirect {
    toUrl
    id
  }
  application {
    entityId
    id
  }
  ... on Section {
    fullSectionPath {
      entityId
      id
    }
    parentSection
  }
  ...helpersAppBarVariantBase
  ...helpersApplicationBase
  ...helpersCheckIsPlusArticle
  ...helpersStyleSectionContent
}

fragment helpersAppBarVariantBase on BaseWithApplicationAndUrlAlias {
  __isBaseWithApplicationAndUrlAlias: __typename
  ...helpersCheckIsLiveArticle
  ...helpersCheckIsPlusPage
  ...helpersCheckIsPostiesArticle
  ...helpersCheckIsPostiesPage
  ...helpersCheckIsPostMagazineArticle
  ...helpersCheckIsStyleArticle
  ...helpersSectionContent
  ...helpersStyleSectionContent
}

fragment helpersApplicationBase on BaseWithApplicationAndUrlAlias {
  __isBaseWithApplicationAndUrlAlias: __typename
  ...helpersCheckIsPostiesArticle
  ...helpersCheckIsPostiesPage
  ...helpersCheckIsPlusPage
}

fragment helpersCheckIfNewsSectionInFirstIndexSection on Section {
  name
}

fragment helpersCheckIsAmpEnabledArticle on Article {
  entityId
  types {
    value {
      entityId
      id
    }
  }
  sections {
    value {
      entityId
      id
    }
  }
  disableOffPlatformContent
  sponsorType
  published
  ...helpersCheckIsPlusArticle
  ...helpersCheckIsPostiesArticle
}

fragment helpersCheckIsLiveArticle on Article {
  flattenTypeIds
  liveArticle {
    status
    id
  }
}

fragment helpersCheckIsMainTopicContent on Content {
  __isContent: __typename
  topics {
    entityId
    id
  }
}

fragment helpersCheckIsPlusArticle on Content {
  __isContent: __typename
  ... on Article {
    paywallTypes {
      entityUuid
      id
    }
  }
}

fragment helpersCheckIsPlusPage on Page {
  urlAlias
}

fragment helpersCheckIsPostMagazineArticle on Article {
  sections {
    value {
      entityId
      id
    }
  }
}

fragment helpersCheckIsPostiesArticle on Article {
  sections {
    value {
      entityId
      id
    }
  }
}

fragment helpersCheckIsPostiesPage on Page {
  urlAlias
}

fragment helpersCheckIsStyleArticle on Content {
  __isContent: __typename
  sections {
    value {
      entityId
      id
    }
  }
}

fragment helpersGetArticleTypeArticle on Content {
  __isContent: __typename
  ... on Article {
    types {
      value {
        entityId
        id
      }
    }
  }
}

fragment helpersMassageToNewsletterItemNewsletter on Newsletter {
  entityId
  name
  alternativeName
  description {
    text
  }
  summary {
    text
  }
  homepageDescription {
    text
  }
}

fragment helpersSanitizeArticleTypeEntityIdsArticle on Article {
  types {
    value {
      entityId
      id
    }
  }
}

fragment helpersSanitizeAuthorTypesArticle on Article {
  authors {
    types
    id
  }
}

fragment helpersSanitizedAuthorEntityIdsArticle on Article {
  authors {
    entityId
    id
  }
}

fragment helpersSectionContent on Section {
  fullSectionPath {
    entityId
    id
  }
}

fragment helpersStyleSectionContent on Section {
  fullSectionPath {
    entityId
    id
  }
}

fragment helpersUseContentSponsorContent on Content {
  __isContent: __typename
  topics {
    entityId
    sponsor {
      ...sponsorTagSponsor
      name
      type
      id
    }
    id
  }
  ... on Article {
    sponsorType
  }
  ...helpersCheckIsMainTopicContent
}

fragment hooksArticleDateUtilsContent on Content {
  __isContent: __typename
  createdDate
  publishedDate
  updatedDate
}

fragment hooksArticleSeoArticle on Article {
  ...helpersCheckIsPostiesArticle
  ...helpersCheckIsPostMagazineArticle
  ...helpersCheckIsStyleArticle
  ...hooksContentHeadlineTagContent
  ...helpersCheckIsAmpEnabledArticle
  entityId
  headline
  socialHeadline
  types {
    value {
      entityId
      id
    }
  }
  authors {
    entityId
    id
  }
  images {
    generic_og: style(filter: {style: "og_image_scmp_generic"}) {
      url
    }
    styles(filter: {styles: ["og_image_posties_article", "og_postmag", "og_image_style", "og_image_scmp_analysis", "og_image_scmp_explainer", "og_image_scmp_editorial", "og_image_scmp_fact_check", "og_image_scmp_debate", "og_image_scmp_live", "og_image_scmp_obituary", "og_image_scmp_opinion", "og_image_scmp_review", "og_image_scmp_series", "og_image_scmp_generic"]}) {
      url
      style
    }
    type
  }
  urlAlias
}

fragment hooksContentHeadlineTagContent on Content {
  __isContent: __typename
  __typename
  ... on Article {
    types {
      value {
        name
        entityId
        description {
          text
        }
        id
      }
    }
    ...helpersCheckIsStyleArticle
  }
  flag
  sections {
    value {
      name
      id
    }
  }
  ...hooksContentHelperContent
}

fragment hooksContentHelperContent on Content {
  __isContent: __typename
  ...helpersSanitizeArticleTypeEntityIdsArticle
  ...helpersSanitizeAuthorTypesArticle
  ...helpersSanitizedAuthorEntityIdsArticle
  flag
}

fragment hooksPaywallPromiseContent on Content {
  __isContent: __typename
  entityId
  ...helpersCheckIsPostiesArticle
}

fragment hooksTrackPageViewArticle on Article {
  entityId
  publishedDate
  headline
  sections {
    value {
      name
      id
    }
  }
  urlAlias
  authors {
    name
    id
  }
  entityUuid
}

fragment imageContent on Content {
  __isContent: __typename
  headline
  ...checkersCheckContentContainsStarlingImageContent
}

fragment inlineWidgetContent on Content {
  __isContent: __typename
  ...contentNewsletterWidgetContent
}

fragment mainImagePrintArticleArticle on Article {
  images {
    title
    url
    isSlideshow
    size_652x446: style(filter: {style: "652x446"}) {
      url
    }
  }
}

fragment photoGalleryDialogContent on Content {
  __isContent: __typename
  __typename
  ...contentShareWidgetContent
}

fragment photoGalleryWidgetContent on Content {
  __isContent: __typename
  ...photoGalleryDialogContent
}

fragment scmpYoutubeContent on Content {
  __isContent: __typename
  entityId
  urlAlias
  publishedDate
}

fragment sponsorTagSponsor on Sponsor {
  name
  type
  images {
    url
  }
}


sections

types

disableOffPlatformContent

sponsorType

published

headline

socialHeadline

authors

images

publishedDate

updatedDate

summary

subHeadline

keywords

topics

readingTime

authorLocations

entityUuid

Yingzhi Yang

It was the only moment of relief in two years of anxiety. In November last year, Yang Lei got confirmation that Alibaba Group Holding’s financial arm, Ant Financial Services, would back his bike sharing start-up Hellobike. It meant nothing less than the continued survival of the company which Yang, a serial entrepreneur, had co-founded two years earlier when he was only 28.
A year on and the anxiety is still there, but Shanghai-based Hellobike has survived a brutal shake out in China’s bike sharing industry, emerging in third spot behind two Beijing-based companies, Ofo and Mobike.
“You need to deal with pressure and anxiety everyday when you are an entrepreneur,” Yang told the South China Morning Post over coffee at the Kempinski Hotel’s cafe in Beijing. “I’m already very satisfied to have experienced that brief moment of exhilaration,” he said, referring to Ant Financial’s investment.
Earlier this year, Hellobike announced that it secured 2 billion yuan (US$288 million) in funding from Ant Financial, a case of a little-known start-up being backed by one of China’s most valuable internet companies. That is when Hellobike got the attention of local and international media.
Yet Yang comes across as media-shy and even modest, declining to answer when asked if he is good at dealing with technical problems. The computer science graduate, who earned the nickname “Da Niu” (expert) at college because he always won playing video games, said he does not like to be portrayed as a tech genius. For this interview with the Post, Yang wore a black down-filled coat and dark blue jeans that day, looking more like a college student than the chief executive of a company employing 3,000 people.
Chinese bike sharer Ofo proposes merger with rival Hellobike
Yang said he does not engage in small talk in the office, preferring to get on with the job while listening to light music with his AirPods. In Hellobike’s open space office in Shanghai, the boss sits next to one of the company’s engineers.
However, as the chief executive of the company, he still has to deliver public speech and give media interviews. Two days before speaking with the Post, Yang gave a public speech at GGV Capital’s annual party in Beijing, telling hundreds of investors and the press that Hellobike has already been profitable in 100 cities in China. GGV was one of Hellobike’s earliest backers.
Hellobike currently operates in 300 cities across the country and processes more than 20 million rides booked every day, according to Yang.
When asked if being profitable in 100 cities means losing money in the other 200, Yang replied: “ You can see it that way,” adding that turning a profit is not a pressing goal for him or his investors.
“I believe a business that can serve a mass of users is able to make a profit sooner or later,” Yang said. The only time a business won’t be profitable is if there is no real demand for its products or services, and it relied solely on huge subsidies to stay in business, he said.
He thinks the brutal competitions in the bike sharing business is because the industry is still at an early stage. “We are prepared to subsidise the bike sharing service in the long run,” he said.
As well as gaining ground in first tier cities like Shanghai, Hellobike is integrating itself more into the transport business by integrating Dida, the ride hailing service, into its app, according to Sun Naiyue, an analyst with market researcher Analysys. “It’s a challenge for the company to improve operating efficiency and maintain the ability to raise capital,” Sun said.
Hellobike is a comparative late comer in China’s bike sharing frenzy, starting out in 2016 when pioneers Ofo and Mobike had already raised billions of dollars in capital, going on to dominate the market in the No 1 and 2 position respectively, with Hellobike climbing its way up the ranks to No 3 earlier this year. However, none of the top three have been able to turn a profit.

From the end of 2016 and through the first half of 2017, most of Yang’s time was spent on accounting, specifically calculating how long Hellobike could last with the money it had. At the end of 2016 the bike sharer had 30 million yuan (US$4.3 million) in cash, and that was spent within a month by ordering the manufacture of tens of thousands of bikes, according to Yang. “It is indeed a heavy-asset business,” Yang said.
Yang became determined to get into the bike sharing industry after he used Mobike for the first time in Shanghai, intrigued by the prospect of a business that could serve tens of millions of people. That was enough to motivate him to devote all his time from early 2017 to late that year to meeting potential investors – a total of 200 in all – or an average of one a day.
“I knew I had to impress the investor in our first meeting. If I didn’t, I would totally miss the chance to raise money from that investor,” Yang said. “During that time, we were close to missing the payroll several times ,” Yang said. 
But even during the most difficult times, Yang said he rejected offers from a few investors because “their terms were not acceptable,” declining to elaborate on what those terms were or the names of the investors.
Yang’s passion for technology and the internet originated from a Subor video game console that he begged his father to buy him when he was eight. It cost more than 1,000 yuan, considered a luxury purchase in China in the 1990s.
He played video games throughout his teens and up to college where he was given the nickname “Da Niu” (expert) because he always won. Even today, employees and investors at Hellobike still call him Da Niu.
Yang started his first business when he was still at college. It was tech-related but not considered glamorous – selling electronic components to computer repair shops – but was lucrative and enabled Yang to build up a war chest for future ventures.
It's not easy being No. 3 in China’s ruthless bike sharing market
His next few ventures were related to the internet, helping people find designated drivers and parking spaces online. “Being an entrepreneur is the best way to spend my life,” he said.
Several Hellobike employees the Post spoke to said Yang is quite frugal. He does not have a personal assistant, does not fly business class, and thought the cost of the celebration on Shanghai’s Bund in September to mark the company’s two-year anniversary was not necessary.  
However, Yang said he may make an exception and hire an assistant to help him practice English. “I don’t have a plan to expand overseas yet but if that day comes, I hope I’m able to communicate with foreign investors and users in fluent English,” he said.
Although he does not like talking about himself, Yang likes chatting with job applicants, having personally interviewed around 1,000 of them during his time at Hellobike. Just before this interview, he had been in a meeting with a job recruit for a programming position. “I love to spend time interviewing people,” Yang said. “I hope a lot of talent can be nurtured in the company in the coming years.” With that, it was goodbye as Da Niu rushed off to another meeting.
 Alibaba is the parent company of the Post.


The shy geek behind Hellobike – the latecomer that battled for survival in China’s bike sharing industry

FILE PHOTO: A man looks for a shared bike to ride outside an office building, in Beijing, China April 12, 2017. REUTERS/Jason Lee/File Photo

Hellobike co-founder and CEO Yang Lei – a shy geek who battled it out for No 3 spot in the bike sharing industry. Photo: Handout

Tech

Tech leaders and founders

Hellobike has survived a brutal shake out, emerging in third spot behind Ofo and Mobike
Yang does not engage in small talk in the office, preferring to get on with the job while listening to light music with his Airpods


Hellobike has survived a brutal shake out, emerging in third spot behind Ofo and Mobike.


Bike-sharing services

China technology

Sharing economy

Start-ups

Exclusive | The shy geek behind Hellobike – the latecomer that battled for survival in China’s bike sharing industry

Hellobike has survived a brutal shake out, emerging in third spot behind Ofo and Mobike Yang does not engage in small talk in the office, preferring to get on with the job while listening to light music with his Airpods

Hellobike has survived a brutal shake out, emerging in third spot behind Ofo and Mobike

Yang does not engage in small talk in the office, preferring to get on with the job while listening to light music with his Airpods