Giant's Grows Revenue and Profits

Giant Group's consolidated revenue for the first half of the year was NT$30.71 billion (approx. US$979 million), up 5.3% from the same period of last year.

Benefiting from the favorable sales of European electric bicycles and exchange rate, the gross profit margin and operating profit ratio were both higher than the same period of last year. Net profit before tax was NT$2.44 billion (approx. US$78 million), an increase of 33.6% over the same period last year; net profit after tax was NT$1.72 billion (approx. US$55 million), up 60.1% from the same period last year. If the one-off income tax expense of the first quarter of 2018 is excluded, the first half of 2019 growth 25% compared with the same period of 2018.

A big contributor to Giant's growth were sales of e-bikes. The Group shipped 290,000 electric bicycles in the first half of the year, accounting for 28% of overall revenue. Giant expects that electric bicycles will maintain their growth momentum in the second half of the year.