Brain (Bicycle Retailer and Industry News) article:
✅ Merida writes down $105 million impairment related to Specialized investment:
https://www.bicycleretailer.com/international/2025/03/14/merida-writes-down-105-million-impairment-related-specialized-investment
✅ Giant operating profits down 60% last year:
https://www.bicycleretailer.com/international/2025/03/14/giant-operating-profits-down-60-last-year
Published: February 18, 2026
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