Taiwan Firms Showing Increased Revenue

Publicly traded companies in the bike industry have released financial reports for the first eleven months of 2019 showing mixed overall results and a definite trend towards e-bike sales. Giant's consolidated revenue for the period from January to November increased by more than 10% compared to the same period last year, while both Merida and KMC revenue decreased by 10% during the period.

Giant Group said that with the continued sales of European bicycles, the growth of OEM business and the decline of China's domestic sales, monthly revenue increased slightly compared with the same period of last year. The revenue in November was NT$5.05 billion, up 11.47% from the same period of last year. From January to November, the cumulative revenue was NT$ 55.507 billion, an increase of 9.53% over the same period last year.

Merida announced that the Group's consolidated revenue in November was NT$1.8 billion, a decrease of 10.48% year-on-year. However, from January to November, the Group's consolidated revenue was NT$ 23.7 billion, an increase of 15.74% over the same period last year. Merida is optimistic about the European and American electric bicycle market. In response to the US-China trade war, as well as the high-end bicycles originally produced by its Taiwanese factory, production of high-end bicycles from its Chinese mainland factories have been moved back to Taiwan.

KMC's consolidated revenue in November was NT$ 428 million, down 10.28% year-on-year; however, the market share of bicycle chain repairs and electric bicycle chains in Europe and the United States continued to expand. The consolidated revenue for the first 11 months of the year was NT$ 4.6 billion, an increase of 2.18%