According to the reports from Tiensha Magazine, in 1999 the Giant Manufacturing Co. was the
leader of bicycle industry in Taiwan, followed by Melita and Lichi. In recent years, the business of the
Giant dropped 30% and Shunchie was down 43%. But Phillip was up 18% in 1999. For the profits,
after Giant made progress in China and other countries, the result was remarkable. Melinda made a
profit rate of 11.64%. For details, please refer to Table 10.