Giant Announce Increased Revenue and Profits

Giant Manufacturing held its 2018 annual shareholder meeting on June 21 chaired by Giant President, Bonnie Tu. In addition to recognizing the 2018 annual accounts and surplus allocations, the company announced its intention to issue its subsidiary, Giant Light Alloy Technology (Kunshan) Co., Ltd. with RMB ordinary shares (A shares) and apply for listing on the stock exchange in mainland China. Last year, the Giant Group had a consolidated revenue of NT$60.24 billion, net profit after tax of NT$2.86 billion, and after-tax earnings per share of NT$7.64.

Additionally, in its first quarterly report for 2019, Giant Group's announced that consolidated revenue was NT$14.69 billion, up 5.2% from the same period of last year; benefiting from the continued sales of its own brand of electric bicycles in Europe, the rebound of China's domestic sales and favorable exchange rate factors. Gross profit margin increased by 21% compared with the same period last year. Net profit before tax was NT$990 million, up 71% year-on-year, while net profit after tax was NT$680 million, up 165.2% year-on-year, mainly due to a 3% increase in the income tax rate in the first quarter of 2018, resulting in a one-time net profit after tax. The impact of income tax expenses, if excluded from the income tax, increased by 69% in the first quarter of 2019 compared with the same period last year. The after-tax earnings per share was NT$1.82.