Taiwan-based Giant Group approved a dividend of NT$1.8 (US 5 cents) a share while reporting sales declined 15 percent in the first five months of the year.
The owner of the bicycle brands Giant, Liv and Momentum, as well as the high-end component brand Cadex, approved the dividend at its annual meeting.
The dividend comes as Giant Group reported consolidated revenue of NT$60.25 billion ($1.9 bn) in 2025, a 15.5 percent year-on-year decrease. Net income after tax totaled NT$0.72 billion, or NT$1.84 per share, a 42.8 percent year-on-year decrease.
Regarding overall operations, Chairman Young Liu stated: “The global bicycle market remains in a gradual recovery phase, while uncertainties such as tariff policies, geopolitical risks, and currency fluctuations continue to pose challenges. However, Giant Group’s long-established global presence, comprehensive supply chain, and diversified manufacturing footprint enable us to remain flexible and resilient. As inventory adjustments near completion, the market is steadily returning to a more normalized environment.”
Commenting on market performance, 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.”
For the first five months of the year, Giant Group reported consolidated revenue of NT$23.428 billion, down 15 percent year-over-year. Giant said, “With new product launches and the arrival of the peak season, performance began to improve in May, with notable sales rebounds in both China and Europe, while the U.S. market remained under pressure due to the continued impact of the WRO (Withhold Release Order) issue on high-end product supply.”
In September 2025, U.S. Customs and Border Protection (CBP) imposed a Withhold Release Order (WRO) on Giant following allegations of migrant workers at their Taiwan facility being subject to forced labor. To have the WRO lifted and resume normal imports, Giant was required to submit a Corrective Action Plan (CAP), including paying full refunds to current and former affected migrant workers and adopting a strict “Zero Recruitment Fee Policy.” Giant said it has completed labor reforms and is actively working with CBP to clear shipments.
Looking ahead, Giant Group said it “will continue to drive product innovation and expand its global market presence, while enhancing supply chain efficiency and operational management. The Group remains committed to steady long-term development and will gradually restore growth momentum while strengthening overall competitiveness as the market recovers.”
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