Giant Manufacturing (9921) investor relations material

Strategic positioning and brand portfolio

• Operates a multi-brand strategy with GIANT, Liv, Momentum, and CADEX, targeting diverse cycling segments and price ranges from $300 to $13,500.

• Maintains both own-brand and OEM business models, with significant sales contributions from each.

• Recognized as a global leader in indoor cycling through the Stages brand, aiming to double sales by 2027.

Manufacturing, innovation, and global reach

• Runs nine manufacturing factories, with Hungary supporting Europe (capacity 300K) and Vietnam supporting the Americas (capacity 260K).

• Invests in advanced engineering, including carbon composite materials, laser cutting, robotic assembly, and lightweight finishing techniques.

• Implements integrated R&D, manufacturing, and sport marketing, supported by a global retail network.

• Operates 15 wholly-owned sales companies across major global markets.

Financial performance and sales trends

• 2026 H1 sales reached NT$29.2 billion, with 2Q net sales up 5.8% year-over-year and gross margin improving to 24.2%.

• EPS for 2026 2Q rose to 1.62, a 236% increase from the prior year.

• Sales revenue peaked in 2022 at NT$92 billion, then declined to NT$60 billion in 2025, with gross margin and net income also decreasing.

• Europe remains the largest market, with its share rising to 42% in 2026Q2, while North America and China show fluctuating contributions.