Some Chinese ride a German bike in Romania

Eurosport DHS SA is the Romanian company (Deva, Hunedoara) that manufactures both bicycle parts and electrical bicycles that ships mainly to Europe, according to their own website. The company is owned by the Chinese citizens Yang Xi & Yang Tianqi together with the German company Prophete GmbH & Co KG, a 100-year-old bicycle manufacturer, that joined the Romanian company in 2006.

Devron, a brand of DHS. Source: dhsbike.eu

Yang Xi is also the representative of the offshore company Dewell Investment Limited (Hong Kong), that owns the majority shares of DHSBaby SRL located in Deva, Hunedoara. The same offshore company also owns Cerurim SRL in the same locality. According to the “Official Gazette”, “There is an economic interest between the companies Eurosport DHS SA and CERURIM SRL for the SA guaranteeing the loans contracted from Banca Transilvania by CERURIM SRL, in the sense that CERURIM SRL is the main bicycle wheels and rims provider and approx. 50% of CERURIM turnover is generated by the commercial relations with Eurosport DHS”.

During the last fiscal year published, 2018, Eurosport DHS SA registered revenues amounting to RON 412 million (approx. EUR 92 million) and a net profit net de RON 15.7 million (approx. EUR 3.5 million) with 331 employees. In the same year, DHSBaby SRL, manufacturing strollers, car seats, tricycles, registered revenues of RON 16.5 million (approx. EUR 3.7 million) and a net profit of RON 2.7 million (approx. EUR 600,000). Cerurim SRL, that manufactures not only wheels and rims for Eurosport DHS SA, but also vehicles for people with disabilities, collected revenues of RON 10.8 million in 2018 (EUR 2.3 million) and had a net profit of RON million 2.4 (little over EUR 500,000) with 40 employees.

 

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