first bankruptcy of China's booming bike-sharing industry.

[RainbowUnicorn]

http://www.bbc.com/news/business-40351409

A Chinese bike-sharing company has gone out of business after 90% of its bikes went missing in the first five months.
Chongqing-based Wukong Bikes said the bulk of its 1,200 two-wheelers were lost or stolen.
Unlike rivals, the firm did not put GPS systems on its bikes and by the time it realised the technology was necessary, money had run out.