(Yicai Global) Jan. 18 -- The removal of two co-founders from the list of shareholders at Beijing Bikelock Technology, the firm behind bike-sharing platform Ofo, was just a normal business adjustment, Securities Daily cited an anonymous insider as saying.

"Bikelock Technology isn't the operator," the source said. "Nothing has changed at the operator."

Xue Ding and Zhang Siding, two of the company's six-strong founding team, were recently removed as shareholders, according to Bikelock's business registration information. Lead founder Dai Wei now holds 70 percent of the company and his co-founders Yang Pinjie and Yu Xin hold 20 percent and 10 percent. The last co-founder, Zhang Yanqi, left last year.

It is hard to tell whether the move suggests the company is considering new financing, an anonymous industry expert told Securities Daily. The new shareholders do not cause any conflicts and there are many reasons a firm makes internal changes -- nobody can make an exact judgment just yet, he added.

Both Xue and Zhang Siding are still listed as shareholders at Bikelock's parent. The subsidiary, which has CNY1 million (USD147,1000) in registered capital, is mainly used for tech development, consulting and other services, according to public information.

The two are also still legal representatives and executives of several Bikelock Technology units.

Editor: James Boynton