Shanghai Phoenix announced its 2017 financial report. The financial report showed that in 2017, the company achieved operating income of RMB 1,208,810,400, an increase of 126.63% year-on-year; operating costs of RMB 1,217,937,800, an increase of 154.87% year-on-year, and a total of three expenses of RMB 12,607.23 million, an increase from the same period last year. 30.02%.
The financial report shows that Shanghai Phoenix produced 5052234 bicycles in 2017, an increase of 74.02% over the previous year; bicycle sales were 50,530,054, an increase of 73.67% over the previous year. However, the Shanghai Phoenix also explained: “The main reason for the significant increase in production and sales of bicycles in the current period compared to the same period was due to the impact of the order of bicycles from OFO.”