Figures published by the beleaguered online cycling retailer's administrator suggest £1 million was owed to two major cycling distributors, although some debts listed have now been paid
TAIPEI, Taiwan - Taiwan s top three bicycle and e-bike producers Giant Manufacturing Company Limited (Giant Group), Merida Industry Co., Ltd. and Ideal Bike Corporation have presented their Q3 financial results. All three are mainly affected by the sales and profit slumps in the valuable western market.
TAICHUNG, Taiwan – In its first sales quarter of 2023 Taiwan’s third-largest bicycle producer Ideal Bike Corporation brought in total sales of TWD 1.11 billion (€33.46 million). This is a slight decrease of 1.8%, compared to the first three months of last year. However, losses were also incurred on these sales.
TAIPEI (BRAIN) Taiwanese bike makers Giant Group, Ideal Bike Corporation and Merida Industry Co., LTD each released their first-quarter earnings reports this month. Merida was the only one of the three to record a sales increase in the quarter, although its profits in the quarter were down significantly from the same period in 2022.
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