Bike-sharing firm to break even this year

Dai Wei, founder of Ofo Inc, expects the bike-sharing company to break even this year and make a profit in 2018.

Rolled out three years ago, Ofo now operates in 120 cities in China, the United States, Singapore, Britain and Kazakhstan, and plans to have 20 million bikes on the streets by the end of 2017.

"We are profitable in more than two cities at the moment," Dai, who is also chief executive officer of the company, said in an exclusive interview with China Daily on the sidelines of Summer Davos in Dalian.