In order to compete for the market through price means, Xiaoming has never formed a profit model, relying mainly on financing and deposit pools to survive. When the deposit was executed, the company collapsed.In July, after a few heavy rains, the rust of the unmanned Xiaoming bicycle on the street was even more serious. An old-fashioned light blue bicycle parked on Cangbian Road in Yuexiu District, Guangzhou. The brand name of "Xiaoming Bicycle" is faintly visible in the car body. The "faulty car" card written by volunteers is hung on the handlebar. The owner has not remembered how long the car stopped at the door.