TAICHUNG, Taiwan (BRAIN) — On Thursday Giant Group's annual shareholders' meeting approved a NT$1.8 cash dividend, while company leaders shared some insights into its global business.
Giant filed a revenue statement with the Taipei stock exchange last week showing some sales growth in May, but a year-to-date decline of about 15% through May. The revenue statement did not contain regional performance or profitability figures, but the company shared some insights in a news release Thursday following the shareholders' meeting.
The executives and board members noted that the bike market is in a "gradual recovery phase" as tariffs, currency fluctuations and geopolitical risks continue to pose challenges. They noted that U.S. sales continue to be affected by the Withhold Release Order issued by the U.S. Customs and Border Protection last fall, which prevents Giant from selling products in the U.S. that were manufactured at its plants in Taiwan.
CEO Phoebe Liu said, "In 2025, our OEM business showed signs of recovery as customer inventory adjustments approached completion, supporting modest growth. Our own-brand business was affected by a high base in China, while demand in Europe and the U.S. remained cautious amid a softer macroeconomic environment, with promotional pricing further weighing on overall performance. In response, we are accelerating product development and time-to-market to strengthen competitiveness. E-bikes continue to be a key growth driver, supporting both product mix improvement and future recovery."
The press release said the revenue improvement in May resulted from "notable sales rebounds in both China and Europe, while the U.S. market remained under pressure due to the continued impact of the WRO issue on high-end product supply."
Giant has said it has made reforms in response to all CBP's concerns about forced labor and has hired an independent company to review its performance. CBP has not indicated when the WRO might be lifted and the agency's media relations office has not replied to recent inquiries from BRAIN.
