Benefiting from the continued global surge bicycle sales, Axman enjoyed revenue of close to NT$1.8 million in 2021, which represented annual growth of 32%. And due to persistently low inventories in its European and American channels, Axman also anticipates considerable growth in 2022. In the wake of such gratifying growth, Axman formally began OTC trading of its stock on the Taiwan market at the end of March 2022. This has made Axman the fourth bicycle industry company to have its stock listed or traded on the OTC market.
Axman focuses on ODM whole-bicycle production of mid-/high-end bicycles and e-bikes, and has the capability to fill its international customers' orders for small batches of varied products. Axman's customer base is chiefly located in Europe and North America, and it is currently emphasizing carbon fiber bicycles and e-bikes. Apart from continuing to develop models equipped with European and Japanese components, Axman is also developing unique e-bike electrical control systems for specific customers on an ODM basis. Furthermore, the company is cooperating with partners in the electronics industry to develop its own exclusive control systems and its electric bicycles. Relevant products are currently being tested, and patent applications have been made.