Giant Group's Total Turnover in 2022 Reached 9204 Billion, An Increase Of 12.5%

According to foreign media reports, the total turnover of the huge group in fiscal 2022 reached NT $ 920.04 billion (about 2.99 billion US dollars), an increase of 12.5%over the previous year. Due to the increase in materials and labor costs and a higher combination of OE (with brand) business, although the group's net income before tax was the same as that in 2021, operating profits fell by 1.5%to NT $ 5.84 billion.
The huge group said, "At present, the supply and demand balance of the bicycle market has not been normalized, and the demand for low -end products has cool down, but the demand for high -end and electric bicycles is still strong."

The huge group said that due to the interruption of the supply chain, the inventory of low -end components in low -end components is at a high level in distribution channels and production, but high -end components still face supply shortages and cannot meet market demand. Giant started the destocking correction mechanism since the second half of 2022, but the progress is still slow. Short -term income and profit performance will be affected by inventory problems and economic prospects.

In the middle and long term, the demand for electric bicycles is still strong, and bicycles are still very popular, which should further support the demand for high -end bicycles. Also due to sustainable problems, there is still room for growth in the bicycle industry.