Dafang, an electronic component factory owned by Mingji Youda Group, announced on the 20th that it would cooperate with Tongtong Metal Co., Ltd. in strategy and acquire a 60% stake in Shitong Metal for NT$720 million.

Dafang said that E-Bike is an emerging trend in the global bicycle market. According to the research report, the total annual sales in the European and American markets reached 2.1 million units in 2018, and it is estimated that it will grow to 3.8 million units in 2025.

In order to accelerate the company's strategic layout toward E-Bike automobile and battery/electronic components business development, Dafang's board of directors acquired Shitong Metal Equity through cash, and will strive for high-end bicycles and E-Bike orders with a complete supply system in the future. Darfur stressed that the two sides will further build a win-win situation through mutual channels with the comprehensive effect of technology, process and management.

Dafang also explained that Shitong Metal has been committed to high-end bicycle assembly for nearly 40 years, providing fast and flexible production lines and complete matching, continuously improving the quality and diversity of services, and thus maintaining long-term cooperation with customers. At present, the customer base is all over the high-end mainstream brands in North America and Europe. In Taiwan and Germany, bicycles will be introduced to the market with the best quality and the fastest speed to meet any customer's demand for design and innovation.

Dafang believes that the company has been working in E-Bike industry for many years, starting from the core competitiveness of electronic control and batteries, and cooperating closely with international manufacturers to develop various E-Bike solutions, actively striving for new business opportunities of E-Bike.