How would you describe the current state of the bicycle industry in your region? What are currently the main challenges? How do companies in your region deal with these challenges? What are the concrete steps that companies have taken?

Taiwan’s bicycle industry has entered a period of further adjustment under multiple pressures. The recent US CBP (Customs and Border Protection) action involving Giant Group sent a clear signal throughout the supply chain, prompting manufacturers to accelerate internal reviews and strengthen labour compliance and transparency. In response, the Taiwan Bicycle Association (TBA) convened an emergency board meeting and introduced subsidy programmes to support systematic supply chain due diligence, reinforcing the industry’s commitment to long-term sustainability and ethical practices.

However, these shifts come amid an already sluggish market. The industry was further challenged by the US proposal to impose a 50% tariff on all bicycles, frames and eBikes containing aluminium or steel components imported into the US.

Adding to the uncertainty, ZIV and Zukunft Fahrrad’s decision to end their cooperation with EUROBIKE has led many Taiwanese companies to rethink their global exhibition and partnership strategies. All in all, 2026 is shaping up to be another challenging year — one that will test the resilience and agility that Taiwan’s supply chain has long been known for.

Are there any signals that the market might be stabilising or recovering? Which signals do you see?

While the overall market remains under pressure, there are some signs of recovery. As shown in the latest export data, Taiwan’s bicycle exports recorded an upward trend between June and August 2025 — both in quantity and total value.

That said, this improvement should be interpreted cautiously. These are the most recent figures available (till Aug 2025), and the positive momentum could be disrupted by the aftermath of the US CBP incident and the newly proposed tariff regulations. In particular, demand from the US market — a key destination for Taiwan’s exports — may struggle to sustain this upward trajectory in the coming months.

How are things going in the investment scene and on the M&A market?

Overall, the investment landscape has become highly polarised. Investments into AI remain hot, but almost anything else is not — especially in traditional sectors.

In the bicycle-related space, the past few months have been particularly challenging. Most M&A activities have stemmed from industry reshuffling following bankruptcies or restructurings, rather than proactive growth acquisitions.

On the startup investment side, there has been little positive news — with one notable exception: Upway, a fast-growing eBike refurbishment and resale platform, recently secured €52 million in funding.

At Anchor, Upway has been one of the key companies we track in our bicycle industry case studies. It stands out not only for its circular economy model but also for the founders’ operational excellence. Its co-founders, Toussaint Wattinne and Stéphane Ficaja, both previously held senior roles at Uber Eats, bringing strong expertise in logistics, scaling operations and marketplace trust — capabilities that have become the backbone of Upway’s circular business model.

While we haven’t been actively writing cheques this year, we’ve invested significant effort in building our internal database and case study framework — preparing for the right timing and the right companies to emerge.

How do you assess developments on the Asian bicycle trade fair scene? Which trade shows are currently the winners? Which ones are struggling? What are the reasons for this?

Almost every trade show — not only in Asia but globally — is facing challenges. It’s not just about the current state of the industry; it’s also about how the world itself is changing. We now need different kinds of platforms, information flows, cost structures, formats, cross-industry collaborations and startup engagement.

For trade fair organisers, the ideal role is two-fold: to listen carefully to what the industry needs today, and at the same time, to anticipate what lies ahead. Only then can trade shows truly unlock their potential to lead industrial transformation and keep stakeholders genuinely interested in participating.

This year, Taichung Bike Week felt quiet — with noticeably fewer participants, as many industry members have also observed. We weren’t surprised. Instead, we took this moment to host Ascent by Anchor, a cycling and innovation programme that brought together a curated group of global leaders, investors, and founders.

It was a flagship experience where the physical challenge of cycling intersected with the intellectual and emotional ascent of building ventures, visions, and lifelong connections. The event successfully connected key industry figures from East and West — and reaffirmed my long-held belief: no matter how a trade show evolves, it’s up to us to make the most of it and to bring value.

Speaking of Taichung Bike Week, there are rumours about a bicycle trade show in the new Taichung International Convention and Exhibition Centre. Do you have any information on that?

This idea has been circulating for years, with various public consultations still ongoing. Personally, I don’t support moving Taichung Bike Week into a conventional exhibition centre.

In Taiwan, we already have Taipei Cycle serving as the official trade fair. Taichung Bike Week should remain distinct — focused on a different purpose and value. Moving it to a convention venue would increase exhibitors’ costs and take away the unique, intimate atmosphere of hotel-room meetings that has defined the event for years. From my perspective, such a shift offers little real benefit to the industry.