Giant Group announced its 2022 first 3 quarters results. This year the world was impacted by the global inflation, the war between Russia and Ukraine as well as supply shortage on high end components, Giant group continues to deliver growth with consolidated sales come to NT$70.87billion, increase of 14.4%. As OE business    contribution increased this year plus increase costs from raw materials, logistics and personnel that impacted operating profit performance. However, strong USD brought in favorable EX benefits where net income before tax grew 9.9% compared to last year, net income after tax grew 16.5% to NT$5.63billion, EPS at NT$15.01.

In Europe and NA markets inventories levels are improving, especially in the entry to mid-level products inventories are higher, but there is still a shortage in performance level products. Although the market demand has cooled down compared to the past 2 years, in the mid to long term with people continues to focus on environment, health and government efforts to promote cycling, Giant group sees the great potentials for the cycling industry.

In October Giant group has celebrated its 50^th anniversary with the vision to become a century company. Giant group’s chairperson Ms Bonnie Tu has set the path for Giant’s next 50 years to devote in sustainability.  Giant group CEO Mr. Young Liu called upon all the industry partners to join “Cycling for a Better Future” vision to create the next glory for the Taiwan cycling industry.