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Shanghai Phoenix Enterprise (Group) Co., Ltd. (SHSE:600679) Investors Are Less Pessimistic Than Expected
Shanghai Phoenix Enterprise (600679.SH): In 2024, the proportion of bicycle sales to the USA market will account for less than 10% of the company's total sales.
On April 9, Gelonghui reported that Shanghai Phoenix Enterprise (600679.SH) stated on the investor interaction platform that the company is highly concerned about the new tariff matters from the USA towards China. In 2023, the company sold a total of 9.1373 million bicycles, of which 0.79 million bicycles were sold to the USA market, accounting for only 8.65%; in the fiscal year 2024, the percentage of bicycle sales to the USA market accounts for less than 10% of the company's total sales. Therefore, the recent USA tariff matters have a minimal impact on the company's daily operations.
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Shanghai Phoenix Enterprise (600679.SH): plans to invest 29 million yuan to establish a wholly-owned subsidiary in India.
Gelonghui, January 24丨Shanghai Phoenix Enterprise (600679.SH) announced that in order to further expand the international bicycle market, its wholly-owned subsidiary Shanghai Phoenix Bicycle Co., Ltd. (referred to as Phoenix Bicycle) plans to invest 29 million yuan to establish a subsidiary in Hong Kong, and the Hong Kong subsidiary will invest in establishing a wholly-owned subsidiary PT.Phoenix Bicycle Indonesia (tentative name, subject to final registration by the relevant local authorities, hereinafter referred to as Indonesia Phoenix). Indonesia Phoenix is mainly engaged in the production and sales of bicycles, children's vehicles, and electric bicycles.
Shanghai Phoenix Enterprise (Group) Co., Ltd.'s (SHSE:600679) Popularity With Investors Under Threat As Stock Sinks 25%
