Merida increased its revenue by 20% in the first two months of 2018 under the growth of high-priced electric bicycles. Merida’s revenue for February was 53.5 million U.S. dollars. The cumulative January-February revenue was 118 million U.S. dollars, an increase of 20.92% year-on-year.
In terms of electric bicycles, Merida pointed out that total bicycle sales decreased by 3.95% year-on-year, but sales of electric bicycles increased 48% year-on-year, which led to an increase in net sales by 25.45%. Taiwan’s total sales in January-February increased by 1.64. %, of which sales of electric bicycles have increased by 71% year-on-year, and net revenue has increased by 33.91% annually.
Giant’s revenue for February was US$135 million, a decrease of 11.51%, and total revenue for January-February was US$287 million, an increase of 1.7% year-on-year. Giant said that due to the Lunar New Year holiday and generally poor global climate in February, bicycle sales were affected, but Giant electric bicycles still performed well in the European market.