Following Giant Group’s 5% growth in Q1, Taiwan’s second-largest bicycle manufacturer, Merida Industry, saw first quarter sales jump 29% to TWD 7,567.6 million ($227.3 mm) against TWD 5,845.5 million. Net income attributable to shareholders inched up 1% to TWD 418.5 million ($12.6 mm) from TWD 415.8 million. Gross margin narrowed 270 basis points to 15.6%, while total operating expenses were flat, and leveraged 230 b.p. on the higher top line. Within OpEx, selling expenses were ... Log in to view full article.