As the China bicycle market continued to be sluggish in 2018, Merida’s sales in domestic China market was down from the previous year.  However, the sales of traditional bikes and e-bikes to Europe and the US markets were up by 18% and 54% respectively.  Overall, the sales to global market was down by 7% on quantity but up by 15% on revenue.

The profit in 2018 was significantly better than the previous year due to the good sales and stable currency exchange rates.  The net profit was NT$2.62 billion, 153% higher from the prior year.  The 2018 financial statement was approved in the 2^nd Board of Directors meeting on Mar 22th.  The EPS was NT$5.72.

The Board of Directors also proposed that the General Meeting of shareholders scheduled for June 25^th approve a cash dividend of NT$3.5 per share for 2018.

The 2 major markets, USA and Europe, are both showing good growth particularly for e-bikes.  Merida Taiwan factory has grown by 22% on quantity and 21% on price for e-bike sales in Jan and Feb, which resulted in the e-bike sales grown by over 40% on revenue.  The other good news is that Merida’s sales in China market has finally shown signs of recovery with 28% increase on sales quantity.  It’s likely the 2018 result will be good again.