"Untact Effect"... Samchuly Bicycle's Operating Profit Soars 507% Year-on-Year in First Half

First Half Sales Up 35%, Operating Profit Soars 507%
Spotlight on Untact Exercise... Electric Bicycles and Children's Products Drive Sales Growth

Samchully Bicycle announced on the 14th that its sales revenue for the first half of this year reached 77 billion KRW, with an operating profit of 10.627 billion KRW. The photo shows the electric bicycle Phantom Q. Photo by Samchully Bicycle

[Asia Economy Reporter Kim Heeyoon] Samchuly Bicycle announced on the 14th that its sales in the first half of this year reached 77 billion KRW, and operating profit was 10.627 billion KRW. These figures represent increases of 35% and 507%, respectively, compared to the same period last year.

Samchuly Bicycle explained that due to COVID-19 in the first half of this year, sales across the entire lineup, including electric bicycles, surged significantly, leading to a sharp rise in operating profit.

Additionally, the company analyzed that the increase in electric bicycle sales driven by the popularization of personal mobility, along with a rise in children's bicycle sales, was effective. In particular, despite the demand surge caused by the COVID-19 outbreak during the main bicycle season, the company responded quickly with an agile distribution process, turning the crisis into an opportunity for sales growth.

A Samchuly Bicycle official said, “As personal mobility and untact exercise have gained attention, sales increased across the entire lineup, including electric bicycles and children's products,” adding, “In the second half of the year, with the government's Green New Deal policy, demand for electric bicycles as an eco-friendly transportation means is expected to grow further, leading to continuous sales growth.”

This content was produced with the assistance of AI translation services.