The world’s largest bicycle manufacturer saw Q1 net profit jump 170% to TWD 1,702 million ($61.0 mm) from TWD 629 million on 55% higher revenues of TWD 20,617 million ($739.0 mm) against TWD 13,323 million, boosted by continued strong demand in the global market, with gains from both OE and private label. In private label (Cadex, Giant, Liv, Momentum brands), Giant Europe and Giant North America grew by around 70% in local currency. The Chinese market also delivered exceptional results with sales growth of over 90%. Gross margin expanded 460 basis points to 24.4%, while operating expenses were up 39% ... Log in to view full article.