bicycle group faces two major risks. One is the recession in the Chinese market and the impact of the trade war. ), Merida (9914) has bottomed out, and its profit in the first three quarters of this year has tripled; Guimeng (5306)'s electric vehicle chain shipments have also grown significantly, which will become the driving force for next year's performance growth.
photo by wheelgiant
Huge, Merida's good performance has also been reflected in the stock price performance. The share price of the two heroes in Taiwan has risen by more than 30% in the past month.
Among them, Huge Group has moved its electric bicycle production line back to Taiwan in response to the Sino-US trade war. At the same time, it is preparing to build logistics warehouses and new bicycle factories in the Netherlands and Hungary to expand its global layout and flexibly adjust its production lines. Looking forward to the future, electric bicycles will remain Strong growth momentum, and make good use of the advantages of various manufacturing plants in Asia and Europe to shorten supply and strive for stability.
Huge Group benefited from the continued sales of electric vehicles in Europe, the launch of new models in the United States, and the growth of the bicycle and electric vehicle OEM business. The consolidated revenue in the first 10 months reached 50.456 billion yuan, an annual increase of 9.34%; the top 3 The quarterly EPS reached 5.48 yuan, and the operation increased quarter by quarter. According to the legal person, with the continuous hot sales of electric vehicles, Huge's profit growth in the fourth quarter and the whole year can be expected.
photo by wheelgiant
In addition, Merida benefited from the continuous growth of electric vehicle shipments. In the first three quarters, EPS was 4.07 yuan, an annual increase of more than 42%. Continue to add firewood for the fourth quarter operation. Merida's revenue from electric vehicles is expected to increase to 30% this year, and the industry's profit is expected to maintain above-level performance. According to the legal person of
, the average unit price of Merida’s electric bikes is between US$1,400 and US$1,600, and the highest is US$3,000, which is three times the price of traditional bicycles. Next year, as the sales of electric vehicles continue to flourish, it is expected to drive the overall unit price to grow by 5 to 10%. , revenue contribution is expected to increase by more than 30% year-on-year.
photo by wheelgiant
As for the global chain manufacturer - Guimeng, the profit in the first three quarters was affected by the reduction of orders for shared bicycles in China, exchange losses in emerging markets and trade wars. EPS5.63 yuan, an annual decrease of nearly 9%; looking forward to the fourth quarter, The main growth momentum of Guimeng comes from electric vehicles, and the new production capacity has been snapped up.
Guimeng said that last year, the shipment of special chains for electric vehicles was about 700,000 pieces, accounting for 3% of the revenue. This year, nearly one million pieces were shipped, and the proportion of revenue increased to 5%. The rate is about 60-70%. The legal person expects that Guimeng's profit performance next year is expected to be better than this year under the adjustment of the profit structure of the bicycle and motorcycle sector.
Data source: Shanghai Bicycle Association
http://www.shbicycle.com/detail.asp?id=15129
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