TAICHUNG CITY, Taiwan (BRAIN) — Following last week’s release of Giant Group’s first-quarter financial details, the company’s April revenue statement showed a decline year-over-year, albeit a smaller decline than in the first three months of the year.
A company spokesperson also clarified the one-time NT$80 million ($2.56 million) charge related to the Withhold Release Order issued by the U.S. Customs and Border Protection. The charge was noted in Giant’s first-quarter financial press release. The representative told BRAIN the charge “primarily relates to migrant worker refund payments, along with associated government fees and taxes. It does not include broader impacts such as lost sales.”
In the press release, the company said the WRO issue has “entered its final stage and is not expected to have any further impacts on future earnings.” The company representative told BRAIN “we have submitted all required documentation, and it has been reviewed by CBP officials. The matter is currently under CBP’s formal process, so there are no further updates to share at this time.”
In the April revenue statement, Giant reported operating revenue of NT$5.55 billion, down 3.2% from the same month in 2025. Through the first four months of the year, revenues were down 20.0%. The revenue statement does not include profitability figures for the month. In its Q1 report last week, Giant said it recorded a Q1 net loss after tax of NT$200 million, but pointed to improved gross margins due to the launch of several own-brand products during the quarter.
Fellow Taiwan-based bike makers Ideal and Merida also reported April sales declines
