Giant Group, the Taiwan-based bike manufacturer, has reported that its consolidated revenue for the 2025 second quarter amounted to NT$15.75 billion, a 25.6 percent decrease year-over-year (y/y). The company’s OEM business saw nearly 30 percent growth in the quarter, driven by recovering demand in Europe. Own-brand performance was said to be more conservative, influenced by a high base in the Chinese market the previous year.

In the U.S., consumer demand reportedly softened due to tariff policies and macroeconomic challenges. Europe showed signs of moderate recovery, with mixed performance across regions.

Giant Group reports in New Taiwan dollars (NT$) currency.

Gross margin came in at 20.4 percent of sales, reportedly impacted by seasonal discounts and currency fluctuations.

Net profit before tax was NT$360 million, which was reportedly mainly affected by a foreign exchange loss of NT$230 million.

Net profit after tax was NT$190 million, or NT$0.48 per share. Excluding currency impacts, adjusted EPS would have been approximately NT$1.07.

The Group’s sponsored teams also achieved notable success at the 2025 Tour de France. Team Jayco AlUla rider Ben O’Connor won Stage 18 on Giant’s Propel bike with CADEX wheels. Liv AlUla Jayco also secured a Stage 2 victory, reinforcing the performance and reputation of the Group’s premium cycling products.

First Half 2025 Summary
Consolidated revenue for the first half of 2025 amounted to NT$32.61 billion, a 12.4 percent year-over-year (y/y) decline, which was attributed primarily to the appreciation of the New Taiwan dollar. First half 2025 gross margin was 19.1 percent of sales.

Net profit before tax totaled NT$850 million, and net profit after tax was NT$560 million, both representing a 66.7 percent decline from the previous year.

Earnings per share (EPS) stood at NT$1.42. The Group streamlined inventory levels, restoring inventory-to-asset ratios to healthy pre-pandemic standards and strengthening operational flexibility.

“With manufacturing sites in Taiwan, China, the Netherlands, Hungary, and Vietnam, the Group leverages a globally diversified production network to ensure flexibility and resilience,” the company noted. “This setup enables rapid responses to shifting trade policies, tariffs, and regional market demands.” Looking ahead, the Group said it remains focused on optimizing operations and adapting to external changes, driving sustainable growth and delivering high-quality products to consumers worldwide.

Image courtesy Giant Group