TAIPEI, Taiwan (BRAIN) — Taiwanese manufacturer Merida Industry Co., which owns 35% of Specialized Bicycle Company, recorded a non-operating loss of over $100 million related to that investment in 2024, as the U.S. bike brand took a deferred tax loss and write-downs on its retail operations.Merida’s board approved a dividend despite the annual loss, explaining that its core business was growing and profitable and the Specialized loss was a one-time occurrence. It also said Specialized’s inventory position and cash balance have returned to pre-pandemic levels.