Greenland Technologies Holding Corporation ( (GTEC) ) has released its Q3 earnings. Here is a breakdown of the information Greenland Technologies Holding Corporation presented to its investors.
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Greenland Technologies Holding Corporation, headquartered in East Windsor, NJ, operates in the global material handling industry, focusing on designing, developing, and manufacturing transmission products for forklifts and electric industrial vehicles. The company serves both domestic and international markets, with a significant presence in China and the United States.
In its latest earnings report for the quarter ending September 30, 2025, Greenland Technologies reported a notable increase in revenues, reaching $23.4 million, up from $18.8 million in the same period last year. The company also saw a rise in net income attributable to shareholders, reporting $5.7 million compared to a loss in the previous year, reflecting improved operational efficiency and market demand.
Key financial highlights include a gross profit of $7.6 million, driven by a reduction in cost of goods sold, and a significant increase in short-term investments, which rose to $29.1 million. The company also reported a decrease in total liabilities, down to $53.6 million from $62.3 million, indicating a stronger financial position. Additionally, Greenland Technologies issued incentive common stock awards, contributing to an increase in additional paid-in capital.
Looking ahead, Greenland Technologies remains focused on expanding its electric industrial vehicle segment through its subsidiary HEVI Corp. and enhancing its market presence in the U.S. The management is optimistic about future growth prospects, driven by strategic partnerships and an increasing demand for sustainable industrial solutions.