Giant Group, the parent of the Giant, Liv, Momentum, and CADEX bike brands, reported sales in the third quarter were NT$15.36 billion ($500 mm), a 24.9 percent decline year-over-year.

Quarterly gross margin rate improved to 21.5 percent from 18.5 percent last year, mainly driven by promotional efforts for own-brand products during peak season and inventory provision reversals from sales. Net profit before tax was NT$580 million, and net profit after tax was NT$350 million, resulting in EPS of NT$0.89.

Year-ago comparisons weren’t available.

In the nine months, consolidated revenue reached NT$47.96 billion ($1.55 bn), down 16.9 percent year-over-year. Gross margin rate was 19.8 percent; net profit before tax reached NT$1.43 billion, and net profit after tax was NT$910 million, resulting in earnings per share (EPS) of NT$2.31.

In the year-ago nine months, net profit before tax was NT$3.27 billion and net profit after tax reached NT$2.17 billion.

Giant Group said the OEM business saw nearly 20 percent growth in sales during the first three quarters, supported by recovering demand in Europe. Own-brand sales also showed a moderate recovery in the European market. Giant Group said, “While regional performance varied, the overall trend is stabilizing.”

Giant Group added, “In the U.S., consumer sentiment remained cautious due to tariff policies and macroeconomic factors. In China, revenue declined due to a high base period last year. As the year-end holiday season approaches, the Group will continue to adjust market strategies flexibly to enhance sales performance.”

Sales of E-Bikes, including both OB and OE, accounted for 25 percent of the Group’s total revenue in the first three quarters. Although the share slightly declined compared to last year, unit sales still showed growth, reflecting the recovering market demand. Giant Group said, “As a key mid- to long-term growth driver, E-Bikes hold strong potential. The Group will continue to invest in this segment, with new product launches expected to further business growth.”

Giant Group concluded, “Looking ahead, Giant Group will continue to strengthen operational resilience, respond flexibly to market changes, and steadily advance its business strategies to create lasting value and meet the expectations of global consumers.”

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