Shanghai Phoenix Bicycle Co., better known as Phoenix Bicycles, originated as the Shanghai Third Bicycle Factory created in May, 1958. The establishment of the Third Factory marks the date that the enterprise became joint state-private owned from solely privately owned, then transferred into publicly owned enterprise. Phoenix Company, Ltd is a fully owned subsidiary of Shanghai Phoenix Import & Export Company, Ltd. Which has exclusively selling and distributing rites to Phoenix Brand bicycles and parts. Phoenix exports bicycles to more than 50 countries and earns more than US$60 million annually. Since then the trademark Phoenix, one of the first top-ten well-known trademarks in China, has been registered in 104 countries. Phoenix bicycle is the Chinese Nation’s special-supported export product. When foreign leaders visited China they were presented with a Phoenix bike as a welcoming gift! Phoenix Bicycles said in a statement on May 5, 2017, that it is set to produce at least five million bikes for Ofo in the next 12 months. Wikipedia