Net income attributable to shareholders fell 45% in the third quarter to TWD 1,102.7 million ($34.8 mm) from TWD 2,006.3 million on a 25% drop in revenues to TWD 19,517.3 million ($615.7 mm) from TWD 25,869.1 million. The U.S. and European markets were blamed for the weak sales, as high inventories persist through the distribution network, and demand for entry to mid-level bikes is very low. Along with sales of Giant’s own brands, orders from OEM customers are also depressed.

China was a bright spot again this quarter, with a strong cycling ... Log in to view full article.