The Giant Group posted revenues of $33 billion Taiwan dollars (€1.0bn-$1.1bn) for the first six months of this year, representing a 7.5 percent increase as compared to the first half of 2019. Sales were boosted by increased global demand for bicycles following the coronavirus lockdown period, as many consumers have been turning to bicycles or e-bikes to commute or for exercise. In addition, governments in many countries are offering subsidies to promote the use of bicycles. Strong demand for e-bikes in Europe was a major factor for the sales increase. The group’s gross margin improved to 21.7 percent with net income reaching NT$ 2.15 billion (€61.9m-$73.1m), up by 24.9 percent from the first half of the previous year. While releasing the results, the group also announced that its new European factory in Gyöngyös, Hungary has started operations. The plant, which covers a total area of 22 hectares, was officially opened on July 1, and the first product delivery from the factory was already made in July.