Shared bike is an innovative product that has been booming in recent years. This article investigates the dominant design and standard battles in the shared bicycle industry through the social network analysis method. Based on the patent portfolio of the two leading companies Mobike and ofo, and using the IPC classification information, this study finds that ofo's patent portfolio focused on the lock and control system of bicycles, while Mobike covers the complete technical areas of shared bikes, from smart-lock including satellite positioning and network communication, to new mechanical structure and driving design. Although ofo firstly starts the business model innovation of shared bikes, Mobike leads the dominant design with the advantage of patent portfolio, and further affects the establishment of industry technical standards. However, the smart-lock and power supply system does not form a unified standard, may become the core content of the next round technological competition. This research provides some new insights into the innovation strategy of emerging industries.