Merida are on course to see their e-bike revenue rise to 30 per cent of total trade for 2018, Taipei Times reports.
The company’s e-bike shipments reached 90,000 units in the first seven months of the year, with forecasts reaching 150,000-160,000 units for the whole year.
They shipped 93,300 e-bikes last year, up from 57,000 in 2016.
Merida shares have advanced 18 per cent this year, compared with the broader market rise of 3.96 per cent, while rival company Giant’s shares declined 18.96 per cent.
The Taiwan-based company’s share price has been stronger due to their strong e-bike sales, lower capacity in China and overall less negative impact from the US-China trade war, analysts said.
As none of the firm’s e-bikes or high-end bikes are made in China, they are not directly affected by the European anti-dumping duties.
In the first seven months of the year, Merida posted cumulative sales of NT$15.33 billion (US$498.84 million), up 26.36 per cent from the same period of last year.
Net income for the first half of the year was NT$550.13 million, up 22.98 per cent from NT$447.32 million a year earlier.
Earnings per share rose from NT$1.5 to NT$1.84 over the same period.
Merida shares on Friday closed at NT$147.5 and Giant ended at NT$132.5 in Taipei trading.