The world’s largest bike maker’s bottom line swung to a loss of TWD 199.8 million ($6.3 mm) from a profit of TWD 367.6 million, on 26% lower revenues of TWD 12,523.5 million ($395.1 mm). Lower sales were attributed to elevated inventory levels in the U.S. and Europe, leading to deep discounting that pressured margins. Sales were impacted in the quarter by normalization in its OEM business mix following an elevated period. Giant reported a one-time cost of TWD 80 million ($2.5 mm) related to the Withhold Release Order issued by ... Log in to view full article.