IN BRIEF
Giant Group announced on 21 August that it was proposing to raise its stake in D.Mag to 96.63%, investing 597 million yuan. The Taiwanese group is thereby buying around 36% of the capital of this Chinese subsidiary, a specialist in aluminium and magnesium alloys, which already accounts for 7 to 8% of its consolidated revenue. The seller is D.Mag’s second-largest shareholder, a company related to the group. Giant justifies the deal by its wish to integrate its subsidiary’s resources and to gain decision-making efficiency on new materials.
| Public announcement | 21 August 2026 (board of directors on 7 August) |
| Target | D.MAG New Material Technology Co., Ltd. |
| Stake acquired | around 36% of the capital |
| Giant’s stake | from 60.39% to 96.63% |
| Amount | 597 million yuan (around 2.83 billion Taiwan dollars) |
| Price per share | 4.5764 yuan, for more than 130 million shares |
| Seller | Zhongyu, D.Mag’s second-largest shareholder and a party related to the group |
| Funding | own funds and financing |
| D.Mag’s weight | 7 to 8% of the group’s consolidated revenue |
Giant has just put 597 million yuan on the table to take near-total control of D.Mag, its Chinese alloy subsidiary. The Taiwanese group announced on 21 August that it was proposing to raise its stake in D.Mag to 96.63%, up from 60.39% today. A discreet deal, a long way from bike launches — but one that says a great deal about how the Taiwanese giant is reorganising its new materials arm.
What Giant is buying in D.Mag
The headline of Giant Group’s press release leaves little room for interpretation: the group “proposes to increase its shareholding in D.Mag to 96.63%, investing RMB 597 million to acquire D.Mag shares and improve its operational management efficiency”. According to the Commercial Times, which covered the press conference on 21 August, the board of directors approved the deal on 7 August, and it will go through Giant Investment, a 100%-owned subsidiary.
The Taiwanese business daily sets out the detail of the transaction: around 36% of the Chinese subsidiary’s capital, for more than 130 million shares at 4.5764 yuan each, i.e. a total of around 597 million yuan — close to 2.83 billion Taiwan dollars. Giant will fund the purchase from its own funds and through outside financing. The seller is not a third party: it is Zhongyu, D.Mag’s second-largest shareholder, which the Commercial Times describes as a party related to the Giant group.
A subsidiary that already accounts for 7 to 8% of revenue
D.Mag is already consolidated in the group’s accounts. Under its full name — D.MAG New Material Technology Co., Ltd —, the company presents itself on its website as a specialist in the “development and manufacture of aluminium and magnesium alloy products, from casting to final assembly”. The Commercial Times states that it currently accounts for 7 to 8% of Giant Group’s consolidated revenue.
These are exactly the materials a bike manufacturer lives off: the aluminium of rims, hubs and components, the magnesium of cast parts. By going up to 96.63%, Giant is not buying itself a new business — it is locking down a building block already integrated into its chain. The group says so plainly in its press release: the aim is to “improve its operational management efficiency”. The Commercial Times adds that the deal should make it possible to integrate D.Mag’s resources further and to improve the group’s decision-making efficiency on new materials.
One more move in a busy year
The announcement lands in a dense sequence for the Taiwanese group, between the publication of its half-year results and of its ESG report during the month of August.
One unknown remains: the sources consulted give no closing timetable for the deal, which is still at the proposal stage — Giant’s press release uses the word “proposes”. The release does state, on the other hand, that the deal will have to obtain investment approval from the Department of Investment Review, attached to Taiwan’s Ministry of Economic Affairs, an approval that will be, according to the release, “one of the closing conditions”; the Commercial Times puts it in the same terms. For riders, neither Giant’s press release nor the Commercial Times article mentions any consequence for ranges or prices.
