Taipei Times
Date: Mar 23, 2017
By: Kuo Chia-erh / Staff reporter
Giant Manufacturing Co Ltd (巨大機械), the nation’s largest bicycle maker, yesterday
said it expects revenue contribution from electric bikes to reach 10 percent by 2022, compared with last year’s 7 percent.
The target has been set because of robust demand for electric bikes in Europe, despite the company’s gloomy performance last year.
Giant had a difficult year last year, with cumulative revenue down 5.57 percent to NT$57.01 billion (US$1.87 billion) from the previous year, according to a company filing with the Taiwan Stock Exchange.
In the first three quarters of last year, the company saw its net profit fall 20 percent year-on-year to NT$2.4 billion, or earnings per share of NT$6.4, the company’s latest data showed. [FULL STORY]