LAS VEGAS, Sept. 09, 2026 (GLOBE NEWSWIRE) -- CityWalk e-Bike Inc. (OTCID: CWLK) ("the Company" or "CityWalk"), a public company focused on sustainable urban mobility, today announced that it has received approval for a planned rollout capacity of 25,000 shared electric bicycles across Chengdu and Foshan, China. The contemplated deployment consists of 5,000 e-bikes in Chengdu and 20,000 e-bikes in Foshan.
Final governmental approvals and the issuance of operating permits remain pending and are dependent, among other things, on the Company securing sufficient funding for fleet procurement, infrastructure and launch operations. The Company is exploring debt and other strategic financing alternatives to support the proposed deployment.
CityWalk currently anticipates that the Chengdu and Foshan expansion will be implemented in three phases over approximately three years, with an estimated aggregate capital requirement of $15 million.
The allocation, timing and scope of each phase may be adjusted based on the timing and amount of available financing, permit issuance, site readiness, local regulatory requirements, fleet performance and market conditions.
Based on management's current projections, CityWalk expects revenue to increase from approximately $3.09 million in Year 1 to $6.41 million in Year 2 and $8.99 million in Year 3 as fleet deployment expands across Chengdu, with a population of approximately 12 million, and Foshan, with a population of approximately 10 million. Projected growth is expected to be driven primarily by ride revenue, supplemented by advertising and other income.
"Approval for the proposed 25,000-bike capacity represents an important step in CityWalk's strategy to expand its shared-mobility platform in high-density urban markets," said Ding Zhao, Chief Executive Officer of CityWalk. "Our immediate priority is to secure the capital required to advance final permitting, procure the fleet and infrastructure, and execute the deployment in phases."
Chengdu is expected to serve as the initial priority market, with an approved planned capacity of 5,000 vehicles. Foshan represents the larger expansion opportunity, with an approved planned capacity of 20,000 vehicles. Subject to financing and final permitting, the Company expects to undertake site planning, fleet procurement, infrastructure installation and staged market launches in both cities.
CityWalk's operating platform currently spans three cities and includes approximately 4,000 vehicles. The Company's broader growth strategy focuses on tier-two through tier-four cities, university towns, industrial parks, tourism zones and other concentrated mobility markets where reliable short-distance transportation and parking compliance are important.
The proposed platform combines shared electric-bicycle hardware with precision positioning, electronic geofencing, telemetry, battery monitoring, remote diagnostics and AI-assisted fleet management. CityWalk's revenue model includes ride fees, memberships, enterprise mobility programs, advertising, equipment-related services and potential data services.
About CityWalk e-Bike Inc.
CityWalk e-Bike Inc. (OTCID: CWLK) is a publicly traded company focused on electric and hydrogen-powered urban mobility technologies. The Company is pursuing opportunities in e-bike manufacturing, shared-rental systems, infrastructure development and sustainable transportation solutions for urban and tourism markets. For more information, visit https://citywalkebike.com/
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include, among others, statements concerning the proposed deployment of 25,000 e-bikes in Chengdu and Foshan; the anticipated three-phase, three-year rollout; the estimated $15 million capital requirement; the Company's exploration of financing alternatives; the receipt of final governmental approvals and operating permits; fleet procurement, infrastructure development and market launches; and the anticipated benefits, timing, scale, performance and revenue potential of the Company's shared-mobility platform.
Forward-looking statements are identified by words such as "may," "will," "expects," "anticipates," "plans," "intends," "believes," "seeks," "estimates," and similar expressions. These statements are based on current expectations and assumptions and are subject to risks and uncertainties, including the availability and terms of financing; the receipt, timing and conditions of required governmental approvals and operating permits; changes in PRC laws, regulations or local policies; supply-chain and infrastructure constraints; competition; market acceptance; fleet utilization; technology performance; operating costs; and execution of the Company's business plan. Actual results may differ materially from those expressed or implied. The Company undertakes no obligation to update any forward-looking statement, except as required by applicable law.
Company Contact:
Ding Zhao, Chief Executive Officer
CityWalk e-Bike Inc.
Email: ding@citywalkebike.com
