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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
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Merida Industry
Merida Industry (9914) investor relations material
Merida Industry Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary14 Aug, 2026
Executive summary
Revenue for 1H 2026 was NT$12,261,752 thousand, down 16% year-over-year, but profitability improved sequentially with EPS at 2.15 (Q1: 1.09, Q2: 1.06), driven by growth in Taiwan, China, and European subsidiaries.
Net profit for the six months was NT$665,325 thousand, a 26% decrease from the prior year, while total comprehensive income was NT$846,700 thousand, compared to a loss previously.
Market demand recovered in Europe and China, supporting sales growth for subsidiaries, while new product launches and expanded customization offerings aided premium market penetration.
Financial highlights
Group revenue declined 16% year-over-year, but subsidiaries in Europe and China showed notable sales growth.
Gross margin improved to 18.2% in Q2 2026 (up from 16.6% in Q1), with a six-month average of 17%.
Inventory levels have declined since 2024 but remained high at NT$8,062,518 thousand as of June 30, 2026.
Profitability improved YOY for Taiwan HQ (+48%), China (+39%), and global sales companies (+49%).
Cash and cash equivalents increased to NT$4,656,199 thousand as of June 30, 2026.
Outlook and guidance
Market inventory destocking is nearly complete, with moderate growth expected as new models stimulate demand.
Management is assessing the impact of new IFRS standards effective from 2027 and 2028, with no early adoption planned.
2026 is expected to mirror 2025 in terms of effective tax rate and regional profit distribution.
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Latest events from Merida Industry
- Revenue and profit fell sharply, but gross margin and liquidity remained stable; US market weak.9914
Q1 2026 - First-half 2025 profit dropped 24% on lower sales and significant FX losses.9914Q2 2025
- Net profit rebounded to NT$1,216 million in 2025 despite a 10% revenue decline.9914Q4 2025
- Revenue and profit fell year-over-year, with gross margin at 15% and strong liquidity maintained.9914Q3 2025
- Revenue up 29% year-over-year in Q1 2025, with net profit and EPS both increasing.9914Q1 2025
- Revenue up 6% but net profit down 14% as higher costs and associate losses weighed on results.9914Q3 2024
- First-half 2024 revenue fell 4% and net profit dropped 13%, but gross margin rose to 20%.9914Q2 2024
- Net loss of NT$699 million in 2024, mainly due to significant losses from associates.9914Q4 2024
Next Merida Industry earnings date
Q3 202620 Nov, 2026
Merida Industry
Next Merida Industry earnings date
Q3 202620 Nov, 2026
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Frequently asked questions
Merida Industry Co., Ltd. is a Taiwanese company specializing in the design, manufacture, and sale of bicycles and related components. The company produces a wide range of bicycles, including road bikes, mountain bikes, electric bikes, and recreational models. The company is headquartered in Taichung, Taiwan, and its shares are listed on the Taiwan Stock Exchange.