Gravity CTO, Ir Dr Alan Lam, shared his view about shared-bike market in HK in TVB Finance magazine programme on Sunday, 15/5/2022.

To watch the programme, pls refer to TVB official link: [HERE]

Ir Dr Alan Lam, Adjunct Professor of CUHK and CityU, is the director and CTO of Gravity Capital Partners. He believes that the Hong Kong government has been promoting smart cities and green mobility, so that shared-bike has a good chance to be further developed in Hong Kong

According to some documents of the Hong Kong government, there are at least 30,000 to 40,000 people who are active on cycling in Hong Kong. If about 10 HK dollars (HKD4/30mins) per person per day, it is a market of hundreds of thousands HKD can be generated every day.

If we look at a family going on a bicycle on weekends, the potential revenue is more than five times larger than on weekdays. Overall, the monthly turnover may be a market of tens of millions HKD per month.

As for why there were seven bike-sharing operators in Hong Kong back then, but only one remains so far, he believes that these companies have not successfully used data technology for actual operations.

The reason is that their software platform at that time was not mature enough such as data security processing, system stability, and even hardware configuration. They needed to encounter different problems, including whether the mobile app could be unlocked smoothly and locked back to the shared bicycle, the bike management to be placed in suitable area, bike damaged by end user and etc. They faced a relatively large impact.

He believes that if the Hong Kong government can build more cycle tracks and connect these cycle tracks together, the shared-bike market in Hong Kong will continue to expand. As for the re-emergence of shared-bike market, it will not necessarily impact the traditional bicycle rental market. In fact, the two can be collaborated or co-existed at the same time

The development of the bicycle market in Hong Kong is very large. In addition to the traditional bicycle (leasing market), and even the shared-bike market, everyone has their own advantages. If they can cooperate with each other especially the end user already adopted this market, in addition to Hong Kong government promotes green travel in smart cities, this market is promising.

To watch the programme, pls refer to TVB official link: [HERE]

– THE END –

 

About Gravity Capital Partners Company Limited

Gravity was founded in 2020 in Hong Kong. It is a passionate initiative to drive impact through investment and management. By nurturing local impact businesses while creating synergy with different stakeholders, Gravity strives to build a better impact ecosystem in Hong Kong.

 

Enquiries

Tel: (852) 3188 9698

Website: https://gravitycp.com/

Address: Room 1802, Dominion Centre, 43-59 Queen’s Road East, Hong Kong