OFO / 小黄车

OFO is the shared-bicycle company in No.199 自行车 200年 that anchors the episode’s boom-and-bust manufacturing section. The source says OFO’s 2017 strategic agreement with Phoenix Bicycle / 凤凰自行车 promised very large bicycle purchases, but later financing stress and under-fulfilled orders transmitted pressure back to suppliers.

The page’s main concept is Shared-Bike Manufacturing Shock. Platform growth appeared as industrial demand while financing was abundant, but once cash, orders, and collection weakened, manufacturers faced Receivables Risk and custom or excess-bike exposure.

Connections

• Phoenix Bicycle / 凤凰自行车 — supplier and later dispute context.
• Shared-Bike Manufacturing Shock — platform-order boom and bust.
• Receivables Risk and Inventory Write-Down Risk — financial-statement risks made visible by the case.