The world’s largest bike maker reported Q1 net income of TWD 519.7 million ($16.7 mm), down 38% from TWD 835.8 million, on 20% lower revenue of TWD 16,063.2 million ($514.8 mm) against TWD 20,119.3 million. Gross margin narrowed by 170 basis points to 20.1%. Total operating expenses deleveraged 330 b.p. on the lower top line, including a 1% increase in selling expenses and 14% higher administrative expenses. The impact from impairments was halved from a year ... Log in to view full article.