Giant Group BOD today (8/9) approved 2024 1H financial report. Giant Group consolidated revenue was NT$37.23 billion, a decrease of 12.6% from the same period last year. Due to profit growth in China, group gross margin rate was at 21.3%, net profit after tax was NT$1.67 billion, a decrease of 17.1% from the same period last year. EPS was NT$4.27.

As the sales of high-end bikes in China domestic market continued to be strong, Giant Group consolidated revenue in the second quarter was NT$21.17 billion, a slight decrease of 5.8% from the same period last year. Due to the increase in the proportion of own brands, group gross margin rate to rebound to 22.2%, net profit after tax was NT$1.15 billion, a decrease of 2.5% compared with the same period last year. EPS was NT$2.94.

Looking forward to the second half of the year, inventory adjustments in the European and American markets will return to normal, and the cycling trend in the Chinese market will continue to drive performance growth. It can be expected that the group's operations will gradually improve.