Giant Manufacturing reports a 17 percent increase in net profit of 3.5 billion Taiwanese dollars (€83.78m-$115.75m) for the year ended Dec. 31 on 0.5 percent higher revenues of NT$54.39 billion (€1,302.00m-$1,798.60m). Sales went up by 26 percent in China, 17 percent in Korea and 11 percent in Taiwan, but were essentially flat in Europe and the U.S. The gross margin improved to 21.9 percent of revenues from 20.5 percent in the previous year. Operating earnings increased by 4.3 percent to TW$4.15 billion. The Taiwanese company produced 6.3 million bicycles at seven manufacturing facilities in 2013, and 38 percent of the volume was sold in China.