Rexon shares fall on recallBy Chen Cheng-hui / Staff reporterRexon Industrial Corp Ltd (力山工業), a maker of fitness equipment and power tools, saw its shares drop 15.63 percent in the past two sessions after a major client, Peloton Interactive Inc, last week announced recalls of its Tread+ and Tread treadmills. Since 2017, Rexon has gradually increased the contribution of fitness equipment to its overall revenue, becoming a major supplier for Peloton’s exercise bikes, and Trade+ and Tread treadmills. Photo: Chan Chao-yang, Taipei TimesRexon also manufactures fitness equipment for other global brands, such as Life, Precor, True and Freemotion. Last year, fitness equipment revenue accounted for 77.6 percent of Rexon’s revenue, with Peloton contributing about 71 percent, Jih Sun Securities Investment Consulting Co (日盛投顧) said. Rexon shares on Friday closed 6.34 percent lower at NT$78.3 in Taipei trading, while Jih Sun downgraded the stock to “neutral” from “buy.”

Source: Taipei Times May 09, 2021 15:56 UTC