Bicycle makers’ revenue surges amid global trend
ORDERS DOUBLED: Delivery times for bicycle parts have increased, but large Taiwanese firms are in an advantageous position, an analyst said
By Chen Cheng-hui / Staff reporter
Taiwanese bicycle manufacturers reported robust revenue growth of 40 to 80 percent in the first two months of this year, with some hitting record highs for January and February, the companies’ data showed last week.
Solid growth momentum and strong orders amid the COVID-19 pandemic-driven bicycle boom would boost the industry’s revenue this quarter, analysts said.
Giant Manufacturing Co (巨大機械), Taiwan’s largest bicycle manufacturer, posted combined revenue of NT$12.19 billion (US$432.5 million) for January and last month, up 40.08 percent from the same period last year, which the company attributed to strong global demand for bicycles amid the pandemic.
Cycling, sporting goods fairs go online
Staff writer, with CNA
The Taipei Cycle Show and the Taipei International Sporting Goods Show (TaiSPO) are to be held digitally next month rather than on-site, the organizer said in a statement yesterday.
The Taiwan Trade External Trade Development Council (TAITRA, 外貿協會) said the exhibition from March 3 to March 31 would allow international buyers to participate remotely using the new digital platform.
The on-site fairs, which were originally scheduled to be held together at the Taipei Nangang Exhibition Center from March 3 to March 6, have been scrapped due to concerns over the spread of COVID-19, TAITRA said.
Taiwan cycling and sporting goods fairs go online
02/08/2021 05:45 PM
Image courtesy of TAITRA
Taipei, Feb. 8 (CNA) Taipei Cycle and the Taipei International Sporting Goods Show (TaiSPO), which showcase Taiwan s bicycle products and sporting goods, will be held digitally in March rather than on-site, the organizer said Monday.
In a statement, the Taiwan Trade External Trade Development Council (TAITRA) said Taipei Cycle Online & TaiSPO Online will be held March 3-31, allowing international buyers to participate remotely using the new digital platform.
The on-site fairs, which were originally slated to be held together at the Taipei Nangang Exhibition Center from March 3-6, have been scrapped due to concerns over the spread of COVID-19, TAITRA said.
Bicycle sector growth to last: Yuanta
By Chen Cheng-hui / Staff reporter
Companies in the bicycle industry are expected to benefit from record-low inventory at distributors, new lifestyle trends and continued growth momentum in the electric bicycle sector during the post-COVID-19 pandemic period, analysts said.
Taiwan’s leading bicycle maker Giant Manufacturing Co Ltd (巨大機械) and bicycle chain maker KMC Kuei Meng International Inc (桂盟國際) would gain most from the rising demand for mid to low-end bicycles and strong sales growth of high-margin electric bicycles, Yuanta analysts led by Peggy Shih (施姵帆) said in a research note on Tuesday.
“Bicycles satisfy social distancing requirements and provide a safe way to commute and exercise amid the pandemic. This has helped the growth in overall bike demand,” they said.