PREFERENCE FOR BIKES: The company said its bike shipments last month increased 25.31 percent, and KGI said that consumer interest in bicycles is growing
Date: Jun 29, 2020
By: Chen Cheng-hui / Staff reporter
Merida Industry Co’s (美利達) bicycle orders have increased as governments worldwide ease coronavirus lockdowns, and its order visibility is likely to extend well into next year, KGI Securities Investment Advisory Co (凱基投顧) said.
The growth momentum for electric bicycles is likely to continue this year, which would benefit Merida’s earnings and revenue growth and boost its valuation, KGI said in a note on Tuesday last week.
Merida is a leading mid to high-end bicycle manufacturer, which distributes its products under the Specialized and Merida brands.
The company’s shipments last month increased 25.31 percent year-on-year to 105,343 units and consolidated revenue rose 7.86 percent to NT$258.21 million (US$8.71 million), it said in a statement on June 10. [FULL STORY]