Greenland Technologies Holding Corp.GTECEarnings & Financial Report
Greenland Technologies Holding Corp is a specialized developer and manufacturer of electric industrial vehicles, lithium-ion drivetrain systems and industrial clean energy solutions. Its core products include electric forklifts and electric construction equipment components, serving logistics, construction and industrial customers across North America and Asia Pacific.
Revenue
$23.0M
Gross Profit
$6.8M
Operating Profit
$4.0M
Net Profit
$4.7M
Gross Margin
29.4%
Operating Margin
17.3%
Net Margin
20.2%
YoY Growth
-2.3%
EPS
$0.34
Greenland Technologies Holding Corp. Q2 FY2024 Financial Summary
Greenland Technologies Holding Corp. reported revenue of $23.0M (down 2.3% YoY) for Q2 FY2024, with a net profit of $4.7M (up 93.9% YoY) (20.2% margin). Cost of goods sold was $16.2M, operating expenses totaled $2.8M.
Key Financial Metrics
| Total Revenue | $23.0M |
|---|---|
| Net Profit | $4.7M |
| Gross Margin | 29.4% |
| Operating Margin | 17.3% |
| Report Period | Q2 FY2024 |
Revenue Breakdown
Greenland Technologies Holding Corp. Q2 FY2024 revenue of $23.0M breaks down across 2 segments, led by Forklift at $21.0M (91.4% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Forklift | $21.0M | 91.4% |
| Non Forklift | $2.0M | 8.6% |
Greenland Technologies Holding Corp. Annual Revenue by Year
Greenland Technologies Holding Corp. annual revenue history includes year-by-year totals (for example, 2025 revenue was $90.7M).
| Year | Annual Revenue |
|---|---|
| 2025 | $90.7M |
| 2024 | $83.9M |
| 2023 | $90.3M |
| 2022 | $90.8M |
Greenland Technologies Holding Corp. Quarterly Revenue & Net Profit History
Greenland Technologies Holding Corp. results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 FY2025 | $23.9M | +23.4% | $-1.6M | -6.6% |
| Q3 FY2025 | $23.4M | +24.3% | $5.7M | 24.5% |
| Q2 FY2025 | $21.7M | -5.6% | $-3.2M | -14.8% |
| Q1 FY2025 | $21.7M | -4.6% | $4.0M | 18.5% |
| Q4 FY2024 | $19.4M | -15.0% | $7.6M | 39.2% |
| Q3 FY2024 | $18.8M | -13.8% | $-684.4K | -3.6% |
| Q2 FY2024 | $23.0M | -2.3% | $4.7M | 20.2% |
| Q1 FY2024 | $22.7M | +2.6% | $2.5M | 11.0% |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $22.7M | $23.0M | $18.8M | $19.4M | $21.7M | $21.7M | $23.4M | $23.9M |
| YoY Growth | 2.6% | -2.3% | -13.8% | -15.0% | -4.6% | -5.6% | 24.3% | 23.4% |
Balance Sheet
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $139.2M | $126.8M | $127.5M | $115.6M | $118.6M | $123.6M | $123.4M | $115.8M |
| Liabilities | $85.9M | $68.0M | $66.2M | $62.3M | $60.6M | $60.3M | $53.6M | $49.5M |
| Equity | $51.9M | $56.3M | $57.1M | $60.2M | $64.6M | $69.2M | $75.4M | $72.9M |
Cash Flow
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $-8.4M | $11.3M | $6.1M | $4.4M | $1.2M | $-1.7M | $8.3M | $7.8M |