Giant Manufacturing Co., Ltd.


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Mar 27, 2017
Prev close: 186
Mar 27, 2017
Market cap:
Market cap(USD):
Shares: 370.06M

Currency in TWD

Company profile

Market(Ticker): TAI(9921)
Consumer Durables
Recreational Products
Full time employees: --

Business summary

Giant Manufacturing Co., Ltd. engages in the manufacture and sale of bicycles and related spare parts. Its products include mountain, children, folding, electric, off-road riding, and racing bicycles. The company was founded by Chin Piao Liu on October 27, 1972 and is headquartered in Taichung, Taiwan.

Company background

Taiwan's Giant Manufacturing is the world's largest bicycle manufacturer. Under the Giant brand, it offers a variety of models to customers worldwide, from high-end racing bikes to inexpensive models for everyday use.

Chairman Liu King, who was previously in the eel-breeding business, founded the company in 1972. Giant expanded early on by making bikes for Schwinn of the U.S. To survive the fierce competition among domestic rivals, the company launched its own brand of bikes in 1981.

Being a latecomer to the industry, the company had to work hard to break into Europe, a major bicycle market. Giant established a subsidiary in the Netherlands in 1986 and hired renowned local industry experts to help with research and development.

The company demonstrated its technological savvy by helping pioneer the use of carbon fiber in mass-produced bicycles.

Its main production sites are at its headquarters in Taichung, Taiwan, and in Kunshan, in the Chinese province of Jiangsu. The brand is now globally recognized for its high-end bikes.

Giant pours much of its resources into marketing. It typically spends the equivalent of about 8% of its annual group sales on sponsoring major international bike races, including the Tour de France.

In the news

Financial highlights

Dec 2015

  • Local currency
  • US Dollar
Revenue 60,417.62M
Gross profit 12,912.99M
Operating income 4,855.95M
Income before tax 5,083.23M
Net income 3,843.47M
EBITDA 5,895.77M
Diluted EPS 10.2
Dividends per share 6.2
Total assets 45,953.46M
Total liabilities 24,789.25M
Total equity 20,356.75M
Operating cash flow 3,221.06M

Currency in TWD

Revenue 1,902.67M
Gross profit 406.65M
Operating income 152.92M
Income before tax 160.08M
Net income 121.03M
EBITDA 185.67M
Diluted EPS 0.32
Dividends per share 0.19
Total assets 1,399.01M
Total liabilities 754.68M
Total equity 619.74M
Operating cash flow 101.43M

Currency in USD

Valuation measures

Dec 2015

PER 21.36
ROA 8.43%
ROE 19.34%
Operating margin 8.03%
Profit margin 6.36%

Key executive

  • General Manager & Director: Hsiang An Lo
  • Director, Head-Finance & Deputy General Manager: Hsiu Chen Tu
  • Vice President & General Manager-Taiwan Factory: Ching Hsin Yan
  • Director & Deputy General Manager: Ta Peng Chiu
  • Director & Deputy General Manager: Yung Chang Liu

Share holders

  • Schroder Investment Management (Hong Kong) Ltd.(9.6%)
  • First State Investment Management (UK) Ltd.(7.4%)
  • LIU CHIN PIAO(5.7%)
  • TU HSIU CHEN(4.9%)
  • First State Investments (Hong Kong) Ltd.(3.2%)
  • The Vanguard Group, Inc.(2.5%)
  • Saudi Arabian Monetary Agency (Investment Management)(2.5%)
  • Hui Te Industry Co. Ltd.(2.4%)
  • LIU YUNG CHANG(2.0%)
  • CHIU TA JU(1.7%)


  • Website:
  • Address: No. 19, Shunfan Road, Dajia District, Taichung, 43774, Taiwan
  • Phone: +886.4.2681.4771

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