A video of a man throwing a yellow Ofo shared-bike into the Haihe River in Tianjin sparked fury among Chinese netizens on March 6.
In the video, one man is seen throwing the Ofo bike into the river and walking back with a smile on his face.
Another man who shot the video and posted it online can be heard swearing.
It soon caught the attention of Tianjin Public Security Bureau who immediately launched an investigation.
It issued a statement on its official Weibo account on March 7, saying the two suspects, both from Huludao City, Liaoning Province, had fled to their hometown but were caught by police at the railway station about 4pm.
Media reports quoted lawyers as saying they could receive administrative detention or be fined. Investigations continue.