GIANT MANUFACTURING Business Summary

Giant Manufacturing Ltd (9921.TW) operates as a premier global designer and manufacturer of bicycles and electric bicycles (e-bikes), generating revenue through a vertically integrated model that spans original equipment manufacturing (OEM) for third-party brands and original brand manufacturing (OBM) under its Giant, Liv, Momentum, and CADEX labels. The company’s revenue is primarily derived from three business segments: Bicycles (including high-performance road, mountain, and urban models), Materials (carbon fiber and aluminum components), and Others (cycling gear and the YouBike public sharing system). As of early 2026, the firm maintains a dominant global market position despite recent headwinds from a 2025 U.S. Customs and Border Protection Withhold Release Order and shifting post-pandemic demand. It competes directly with Merida Industry, Shimano Inc., and KMC Kuei Meng International, distinguishing itself through its proprietary manufacturing of carbon fiber frames and a robust global retail distribution network that spans the Americas, Europe, and Asia. Founded in 1972 by Chin-Piao (King) Liu, the company is currently led by a seasoned executive team following a strategic leadership transition effective January 1, 2025. Yuon-Chan (Young) Liu serves as Chairman, bringing over three decades of experience including a pivotal role in establishing Giant’s market leadership in China and previously serving as the Group’s CEO. Su-Chuan (Phoebe) Liu holds the position of CEO, having spent 20 years within the organization in roles such as Chief Branding Officer and Head of Global Gear Business. Former Chairperson Hsiu-Chen (Bonnie) Tu, who led the company’s 1994 IPO and founded the women-centric Liv brand, remains an active member of the Board of Directors. The company’s institutional stability is supported by major shareholders including The Vanguard Group, Fubon Life Insurance, and BlackRock, reflecting its status as a cornerstone of the global cycling industry.