Vansen Tseng Promoted to Merida GM

Merida has formally announced that current Vice General Manager Vansen Tseng shall be promoted to general manager as of February 1, 2023. Michael Tseng will continue to serve as the company's president, but will no longer concurrently hold the position of general manager. Vansen Tseng's promotion signifies that a member of third generation has now assumed a leading position at Merida.

Born in 1985, Vansen Tseng is the oldest grandchild of Merida Founder Ike Tseng, and has been working in the Merida Group since 2004. Vansen has worked his way up from the bottom, and has gained extensive experience in production, purchasing, product R&D, and marketing departments. He is familiar with the bicycle industry and all of the group's operations. In recent years, Vansen successfully managed the full-scale upgrading of Merida's ERP system. This upgrade will spearhead the Merida Group's sustainability and environmental protection measures as part of its ESG campaign.

Vansen Tseng is an extremely enthusiastic cyclist, and has participated in several Ironman competitions, as well as the extremely tough 520-kilometer "Two Towers in One Day" event. Facing the challenges of the post-Covid era, Vansen has noted that he will lead the Merida Group "with sincerity, continuity, and keenness for mutual assistance, achieve boundless competitiveness, and reward the group's people" in keeping with his passion for cycling.

Founded in 1972, Merida recently celebrated its 50th anniversary. Merida's revenue of NT$36.92 billion in 2022 bettered its revenue performance in 2021 by 25.8%, and it had an EPS of NT$10.32 during the first three quarters of 2022. Merida's bicycles and e-bikes account for over 30% of Taiwan's bicycle and e-bike exports respectively, and enjoy leading status in international markets. With a brand value of US$467 million, Merida holds the lofty status of one of the Best Taiwan Global Brands Top 10.