Halo Electric Bikes Cited in 315 Gala, Ant Group Emerges as Largest Shareholder

Deep News03-15

On the evening of March 15, CCTV's annual 315 Gala exposed electric bicycle manufacturers for illegally removing speed restrictions, with Halo Electric Bike Rental being singled out. According to the report, Halo has established a presence in more than 100 cities across China, operating over 5,000 rental stores. Staff at these locations reportedly claimed that their electric bicycles could reach speeds of up to 75 kilometers per hour.

Public records indicate that China’s latest "Electric Bicycle Safety Technical Specification," set to take effect in 2025, explicitly states that the maximum designed speed should not exceed 25 kilometers per hour, the battery voltage should not surpass 48 volts, and the motor’s output power must be 400 watts or less.

Corporate data from Tianyancha reveals that the entity behind "Halo Electric Bike Rental," Shanghai Junha Network Technology Co., Ltd., was established in August 2018. The company’s legal representative is Chi Xingde, with a registered capital of 2.05 billion yuan. Its business scope includes the rental of machinery, bicycles, electric bicycles, cars, and electric motorcycles. It is wholly owned by Shanghai Junfeng Network Technology Co., Ltd., an affiliate of Halo Travel.

Further investigation shows that Ant Group Co., Ltd. holds approximately 36% of the involved company’s shares through Shanghai Yunxin Venture Capital Co., Ltd. and Jiangsu Halo Puhui Technology Co., Ltd., making it the largest shareholder.

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