The Taiwan-based bike maker reported full-year revenues of TWD 71,278.8 million ($2,220.5 mm), down 7% from TWD 76,953.5 million in 2023, pressured by lower demand in the U.S. and Europe that persisted through the year. Net income attributable to shareholders tumbled 63% to TWD 1,264.0 million ($39.4 mm) from $3,401.4 million, hit by an inventory loss provision of TWD 1.9 billion. Gross margin was also impacted by the provision as well as more aggressive discounts, resulting in a 310 basis point reduction to 19.0%. Without the provision, gross margin would have ... Log in to view full article.