TAICHUNG, Taiwan (BRAIN) — Just prior to the opening of the Taichung Bike Week OE event here this week, three of Taiwan’s largest OE bike makers announced that operating revenues had declined in August, with two of them down for the year-to-date.
Giant Manufacturing reports that its August operating revenues were NT$5.025 billion ($166 million), down 26.7% from the same month last year. Accumulated operating revenues for the year-to-date through August was NT$42.7 billion, down 17% from the same period last year.
Merida Industries reports August operating revenues of NT$2.47 billion, down 15.5% from last August. Merida’s accumulated operating revenues for the year-to-date through August was NT$19.5 billion, down 8% from the same period last year.
Ideal Bike Corp. reports August operating revenues of NT$145 million, down 30% from last August. Ideal’s accumulated operating revenues for the year-to-date through August was NT$1.769 billion, up 0.4% from the same period last year.
None of the companies made public comments about the results, which do not include profitability details. In its most recent public remarks, following its release of first-half financials, Giant noted that its inventory ratios had returned to pre-pandemic levels, but said that the strength of Taiwan’s currency had reduced revenues and said the Chinese market for bikes has softened. As of Sept. 1, Taiwan's dollar has appreciated 7.2% against the U.S. dollar in the last 12 months, and 4.5% in the last six months.
