Taiwan’s largest bicycle manufacturer, the Giant Manufacturing Group, reported record revenue and profits in the first quarter. Sales rose by 54.8 percent to 20.62 billion Taiwan dollars (€610.2m-$737.4m), and net profit jumped as much as 170 percent to TWD$1.7 billion (€50.3m-$60.8m). In private label (Cadex, Giant, Liv, Momentum brands), Giant Europe and Giant North America grew by around 70 percent in local currencies. The Chinese market also delivered exceptional results with sales growth of over 90 percent. Sales in the e-bike segment with the group’s own brands were still the fastest-growing segment. In addition to Europe, which remaind the most important sales driver for e-bikes, e-bike sales in the U.S. also showed growth. In the first quarter, e-bike sales, including OE business, accounted for 30 percent of the group’s total sales.
