TSE-listed Bicycle-related Makers Report Lucrative 1st-Half Results
2010/07/16 | By Quincy LiangTaipei, July 16, 2010 (CENS)--Thanks to strong demand from China and Taiwan, major assembled-bicycle and parts manufacturers in Taiwan reported lucrative operation results for the first half.
Merida Industry Co., Ltd., for example, had accumulated revenue of US$157.7 million for the first six months, up 14.76% year-on-year (YoY). Major bicycle-parts makers Sunrace Co., Ltd. and Leechi Enterprise Co., Ltd. enjoyed a 35.36% and 30.87% YoY revenue growth, respectively, during the first half.
Merida said that it shipped 429,000 assembled bikes in the first half, a 17.05% YoY increase, with first-half revenue and shipments both hitting new highs.
Ideal Bike Corp., another major bicycle maker focusing more on ODM (original design manufacturing), however, was one of the few Taiwan Stock Exchange (TSE)-listed bicycle and parts makers with revenue decline, with reported revenue of US$44.09 million in the first half, down 32.3% YoY, due to decreased OEM orders.
Due to increased exports of its higher-level hydraulic brake systems, Leechi reported accumulated revenue of US$33.18 million in the first half, up 35.4% YoY. Sunrace registered revenue of US$9.3 million for the first half, up 30.9%.
Industry sources said that Giant Manufacturing Co., Ltd., the world's largest assembled-bicycle maker, is expected to see first-half revenue exceed US$312.5 million.