The history of Phoenix can be traced back to 1897, when the first made-in-China auto brand, Tongchang, was launched.

"That's why we are repositioning the brand more for leisure and a healthy lifestyle," says Wang.

These days, Phoenix models are priced between 900 yuan and 4,000 yuan, and their target buyers are generally below 40.

Along with the change in market positioning comes a series of bicycles that now range from mountain and sports bikes to those designed for different age groups.

In 2011, Phoenix launched a new series aimed at children from two to their late teens, and quickly became the niche market leader by the second year.

To date, the Shanghai-based company has a full range of bicycles, electric bikes, and children's bikes as well as wheel chairs.

The company has manufacturing bases in Shanghai, Tianjin and Jiangsu, covering a total area of more than 500,000 square meters. The Shanghai Phoenix Bicycle Co Ltd currently has an annual capacity of 6 million two-wheel vehicles, including 3.5 million bicycles, 1.5 million electric bikes, 500,000 wheelchairs and 500,000 buggies.

Wheeling into the future

Business development at Phoenix continues and it is expanding into online retail. Currently, about 10 percent of Phoenix bikes are sold online, contributing up to 25 percent of the company's sales revenue.