After camping and Frisbee , a "cycling fever" has quietly emerged among young people. On the social platform of
, some netizens shared photos of "cycling fever": in Beijing, Chang'an Street , the cycling team was on the lights at first sight, and there was even a grand occasion of "traffic jams" every time you get off work; in Chengdu, 100 kilometers of Tianfu Greenway , young people coming to cycling and check in, and some netizens jokingly said that "one-third of Chengdu people are riding Tianfu Greenway."
htmlOn July 4, cycling enthusiast Xu Guo told Hongxing Capital Bureau that young people’s perception of bicycles is now changing from transportation to lifestyle and gradually becoming a new “social currency.”'s "cycling hot" has also driven the growth of bicycle sales. Offline stores have experienced "hard to get a car". Some stores sell 20 vehicles in 2 hours; some car dealers have severely shortage of stock, so they can only switch to selling electric cars and repairing cars.
In addition, when the cycling wind blows, listed companies have already got a share of it.
Young people have risen to "cycling fever"
Bicycles have changed from transportation to social currency
"I feel like I'm back to the streets of the 1980s, all of them are bicycles," Chen Xing, who commuted on a bicycle in Chengdu, sighed.
Since I bought a bicycle in April, Chen Xing’s commuting journey has changed from driving to riding a bicycle. In Chen Xing's opinion, riding a bicycle is not only free of traffic jams, but also exercises, parking is not cheap, "as long as it doesn't rain, it's almost every day."
Half a month ago, Wang Ke from Beijing also bought an road bicycle . Unlike Chen Xing's commuting needs, Wang Ke likes to ride a bicycle after get off work and travel to Beijing City at night, and he will ride dozens of kilometers every night.
is not just Chen Xing and Wang Ke. The Red Star Capital Bureau found that after camping and frisbee, a "cycling fever" has quietly emerged among young people. On the social platform of
, some netizens shared photos of "cycling fever": in Beijing, Chang'an Street, where the lights are on, the cycling team is endless at a glance, and there is even a grand occasion of "traffic jams" every time you get off work; in Chengdu, the 100-kilometer Tianfu Greenway is crowded with young people coming to cycling and check in, and some netizens jokingly say that "one-third of Chengdu people are riding Tianfu Greenway."
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Image from Xiaohongshu APP
Beijing and Chengdu are just a microcosm of the "cycling fever". So far, Xiaohongshu has more than 1.24 million notes about "bicycles" on it; the number of views of bicycle-related topics on Douyin has reached 7.5 billion times. Data from Qunar.com shows that since June, the search popularity of "cycling" products has increased by nearly 50% compared with the same period in May.
Liu Chen, who runs two comprehensive bicycle shops in Beijing, told Hongxing Capital Bureau that the reason for the rise of cycling fever is related to the suspension of indoor venues such as badminton halls, swimming pools, and gyms during the epidemic and the decrease in indoor activity venues. Customers are moving to outdoor sports, and this group of people are also the main buyers of bicycles.
cycling enthusiast Xu Guo, who has a cycling mileage of more than 200,000 kilometers, also clearly felt that after the epidemic, more and more friends have joined cycling. Now, Xu Guo will organize riders to conduct "casual riding" or "night riding" activities from time to time.
Xu Guo found that young people’s perception of bicycles is now changing from means of transportation to lifestyle and gradually becoming a new social currency. “A group of people are more passionate to ride,” Xu Guo said.
is "hard to find a car", Decathlon html sold 20
32 hours a day, and some cars have switched to selling electric cars due to out of stock
"cycling hot", which has also driven the growth of bicycle sales.
The mainstream bicycle models on the market include road bikes, mountain bikes, , and commuter bikes. The Red Star Capital Bureau found that in many bicycle flagship stores and offline stores, popular models are often out of stock, and "hard to find a car" has become the current situation in the cycling circle.
Wang Ke from Beijing told the Red Star Capital Bureau that she had a fancy to a Decathlon model when she bought a car, which was priced at 1,299 yuan. When she planned to buy it, the clerk told her that there were only two cars left in Beijing and it would take a week to transfer the goods.
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picture provided by the interviewee
Wang Ke also found that the bicycle area is the place with the most customers in the entire Decathlon store. At least 20 vehicles were sold in just 2 hours.
"Bicycles are very popular now. If you are sure to, we can only keep them for 2 hours." On July 3, a clerk at Decathlon Beijing Siyuanqiao store told Hongxing Capital Bureau that the sales of bicycles in the store have been very popular recently, and models worth more than 2,000 yuan are selling best.
is not just Decathlon, but bicycle brand Giant is also facing a shortage of stock. On July 3, the owner of a Giant store in Chengdu said that since the beginning of the year, Giant's cars have been out of stock, and there are basically no existing cars to sell, which has a great impact on the business of the car dealer, so he can only switch to the business of selling electric cars and repairing and maintenance.
offline bicycle sales are booming, and online growth is also ushering in explosive growth. Taobao related data shows that during the "5.20" promotion, Taobao bicycle sales increased by more than 50% at one point. JD Sports data also shows that among the pre-sales from May 23 to May 30, bicycles, road bikes and other cycling categories are one of the best sales categories in outdoor equipment, and the pre-sale order volume of the entire cycling category increased by 240% year-on-year. Under the rising cycling boom of
, consumers' demand for mid-to-high-end bicycles is also increasing. Xu Guo said that young people who join cycling are becoming more and more accepting of mid-to-high-end bicycles, and "road vehicles of about 10,000 are very popular," he said. Liu Chen also told the Hongxing Capital Bureau that bicycles of 10,000 to 20,000 yuan are the best-selling in its stores.
Red Star Capital Bureau noticed that compared with low-end models, some high-end bicycles are more valuable. On second-hand platforms such as Xianyu, some users have used cars from the British bicycle brand Brompton. If the colors are rare, the colors are newer, the original version is discontinued, etc., the price is almost the same as the original price, or even higher than the original price, all of which are more than 10,000 yuan. Some users also posted Brompton used cars and wrote: "If this car doesn't come out, it's just awesome."
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picture from Xianyu APP
behind the cycling popularity
These listed companies have a bright growth in performance
"cycling style" is coming, and the performance of bicycle-related companies is also rising sharply.
Relevant data from the Consumer Products Industry Department of the Ministry of Industry and Information Technology shows that from January to August 2021, the operating income of bicycles (including electric bicycles) manufacturing enterprises above designated size was 145.16 billion yuan, a year-on-year increase of 30.6%, and a total profit of 7.16 billion yuan, a year-on-year increase of 46.4%.
Among them, the growth of leading listed companies is more obvious. Shanghai Phoenix (600679.SH) is one of the leading companies in the bicycle industry. Its financial report shows that in 2021, it achieved revenue of approximately 2.058 billion yuan, a year-on-year increase of 49.59%; net profit attributable to shareholders was 104 million yuan, a year-on-year increase of 71.26%.
In the first quarter of this year, Shanghai Phoenix achieved revenue of 414 million yuan, a year-on-year decrease of 23.40%, but its net profit attributable to shareholders was still growing year-on-year, with a growth rate of 14.70%.
Jiuqi Co., Ltd. (300994.SZ), which is engaged in the design, research and development, production and sales of bicycle complete vehicles and their components, also has a strong growth momentum. In 2021, revenue reached approximately RMB 3.71 billion, a year-on-year increase of 62.31%. In the first quarter of this year, Jiuqi Co., Ltd. achieved revenue of 774 million yuan, a year-on-year increase of 3.31%.
Jiuqi Co., Ltd. stated that by product, the company's adult bicycle/ children's bicycle contributed operating income of 1.215 billion yuan and 743 million yuan respectively, an increase of 100.5% and 33.69% year-on-year respectively. The financial report released by Giant Group, which is severely out of stock, showed that the annual sales in 2021 were NT$81.8 billion (approximately RMB 18 billion), an increase of 17% over 2020. While
has a booming performance, the bicycle industry is also facing the dilemma of shortage of stocks in the upstream and downstream industrial chains. In Liu Chen's view, behind the hot bicycle sales is the general environment of shortage of upstream and downstream bicycle industry chains at home and abroad. Liu Chen told Hongxing Capital Bureau that carbon cloth, kits, and even tires all affect the assembly of a bicycle, and the impact of out-of-stock is very great.
For example, the bicycle core component " transmission " has long been imported. According to the Beijing News report, 95% of the bicycle transmissions in the domestic market that cost more than 1,000 yuan are occupied by the Japanese Shimano and the American Speed Alliance. Among them, Shimano is currently the largest brand in China.However, since 2020, Shimano's Philippines, Singapore , and Malaysia factories have been temporarily suspended; due to the restrictions on air suspension, it is difficult for high-precision components produced by Japanese factories to arrive in China.
In March this year, Japanese bicycle parts company Shimano issued a price increase notice stating that due to changes in raw material costs and factors such as production and transportation, the company adjusted the product prices since May 1, with bicycle parts rising by 0.5%-4% and repair parts rising by 4%-7%. Will the pressure of price increase of core components be transmitted to the terminal? It remains to be verified.
Red Star News Reporter Yu Yao Qiang Yamien
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