Youon Bike

Changzhou Youon Public Bicycle System Co., Ltd., established in 2010 and founded by Sun Jisheng, operates as a significant player in China's urban transportation landscape. The company achieved a major milestone by becoming the first in China's bike-sharing industry to be publicly listed, launching its IPO on the Shanghai Stock Exchange on August 17, 2017. This public offering raised approximately 644.4 million yuan (USD 96 million) and valued the company at USD 384 million.

Youon's core business initially centered on government-backed public bicycle services, providing and managing docked bike rental systems in partnership with local governments, primarily in China's third-tier cities. This B2G model, which involves selling and operating public transport systems, formed the backbone of its revenue for years. In 2016, Youon expanded into the dockless, app-based bike-sharing market to compete with other major players. Further diversifying its portfolio, the company acquired Hellobike in October 2017, strengthening its position in the competitive bike-sharing sector. More recently, in March 2025, a significant ownership shift occurred, with Yang Lei, CEO of the bike-sharing giant Hello, becoming the actual controller of Youon, a move intended to leverage industrial resources for long-term growth.

Pivoting towards advanced green technology, Youon has invested heavily in hydrogen energy since approximately 2017. The company has developed a closed-loop industrial chain for hydrogen energy, encompassing everything from micro-hydrogen generating machines to hydrogen fuel cells. In September 2022, it launched the 'Alpha series,' China's first commercially available hydrogen-powered bicycle. This smart bike features a lightweight magnesium-aluminum alloy frame, a top speed of 22-24 km/h, and a swappable hydrogen cylinder that can be refueled in about 10 seconds. The service package includes a multi-year hydrogen supply, aiming to make the total cost of ownership competitive with traditional electric bikes. Youon's strategy includes building a network of hydrogen supply chains and refueling services to support these next-generation vehicles.

Keywords: public bicycle systems, bike-sharing, urban transportation, hydrogen-powered bicycles, green mobility, docked bike rentals, dockless bikes, smart bicycles, micro-mobility, IPO, Shanghai Stock Exchange, Sun Jisheng, Hellobike, Yang Lei, hydrogen fuel cell, sustainable transport, IoT, urban mobility solutions, China, transportation technology, alternative energy