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As a wholly owned subsidiary of AgaMatrix Holdings LLC, WaveForm discovers and develops novel and proprietary new technologies for diabetes care. WaveForm's products under development include innovative continuous glucose monitoring sensor technology, related firmware, software and data storage platforms. WaveForm is also developing a proprietary "closed loop" insulin delivery platform designed to provide a complete solution for patients living with diabetes.

As a result, the company's sales have fallen drastically. Last year, it sold just 230 ATMs, a year-on-year decline of 89 percent.

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As an inland nation, Kazakhstan could export its products through maritime routes by cooperating with Chinese seaports, he said.

As far as Mobike investors are concerned, Zhou Kui, a partner at Sequoia Capital China, was reported to say it is time to merge when each company has a stable market share and little room to expand in China. He added the resistance to a merger does not come from investors.