The Shanghai Third Bicycle Factory, presently known as Phoenix Company. Ltd. and Shanghai Phoenix Bicycles were established in May 1958. The establishment of the Third Factory signifies the point in time when the company switched from being completely privately held to being jointly owned by the state and private sector before becoming a publicly owned corporation.
Phoenix Company, Ltd., which has exclusive selling and distribution rights to Phoenix Brand bicycles and parts, is a wholly-owned subsidiary of Shanghai Phoenix Import & Export Company, Ltd.