{"id":145929,"date":"2026-08-14T14:18:17","date_gmt":"2026-08-14T14:18:17","guid":{"rendered":"https:\/\/www.europesays.com\/dk\/145929\/"},"modified":"2026-08-14T14:18:17","modified_gmt":"2026-08-14T14:18:17","slug":"greenland-technologies-posts-strong-q2-2026-profit","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/dk\/145929\/","title":{"rendered":"Greenland Technologies posts strong Q2 2026 profit"},"content":{"rendered":"<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">Check the appropriate box below if the Form 8-K<br \/>\nfiling is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">Indicate by check mark whether the registrant<br \/>\nis an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (\u00a7 230.405 of this chapter) or Rule 12b\u20132<br \/>\nof the Securities Exchange Act of 1934 (\u00a7 240.12b\u20132 of this chapter).<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">If an emerging growth company, indicate by check<br \/>\nmark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting<br \/>\nstandards provided pursuant to Section 13(a) of the Exchange Act. \u2610<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">Item 2.02. Results of Operations and Financial<br \/>\nCondition.<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">On August 14, 2026, the Company issued a press<br \/>\nrelease announcing its financial results for the quarter ended June 30, 2026. The full text of the press release is furnished as Exhibit<br \/>\n99.1 to this report.<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">The information in Exhibit 99.1 shall not be deemed<br \/>\n\u201cfiled\u201d for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the \u201cExchange Act\u201d), or<br \/>\notherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities<br \/>\nAct of 1933, as amended (the \u201cSecurities Act\u201d), or the Exchange Act, except as expressly set forth by specific reference in<br \/>\nsuch filing.<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">(d) Exhibits. The following exhibits are included<br \/>\nin this report:<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">Pursuant to the requirements of the Securities<br \/>\nExchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.\u00a0<\/p>\n<p style=\"text-align: right; margin-top: 0; margin-bottom: 0\">Exhibit 99.1<\/p>\n<p style=\"text-align: center; margin-top: 0; margin-bottom: 0\">\u00a0<\/p>\n<p style=\"border-bottom: Black 1.5pt solid; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center\">Greenland<br \/>\nTechnologies Reports Strong Second Quarter and First Half 2026 Financial Results<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center\">\u00a0<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center\">Q2 Revenue Increased 37.6% Year Over Year<br \/>\nto $29.9 Million<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center\">Q2 Gross Profit Increased 65.9% to $9.5 Million;<br \/>\nGross Margin Expanded to 31.9%<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center\">Q2 Net Income Reached $4.9 Million, Compared<br \/>\nwith a Net Loss of $2.8 Million in the Prior-Year Period<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center\">First Half Revenue Increased 27.7% to $55.4<br \/>\nMillion; Net Income Reached $10.7 Million<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center\">\u00a0<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">HANGZHOU, China, August 14, 2026 \/PRNewswire\/<br \/>\n&#8212; Greenland Technologies Holding Corporation (Nasdaq: GTEC) (\u201cGreenland\u201d or the \u201cCompany\u201d), a developer and manufacturer<br \/>\nof drivetrain systems for material handling machinery and electric vehicles, as well as electric industrial vehicles, today announced<br \/>\nits unaudited financial results for the second quarter and six months ended June 30, 2026.<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">\u00a0<\/p>\n<p style=\"font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">Second Quarter 2026 Financial Highlights<\/p>\n<p style=\"font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">\u00a0<\/p>\n<p>\u25cfRevenue increased 37.6% to $29.9 million, compared with $21.7<br \/>\nmillion in the second quarter of 2025.<\/p>\n<p style=\"font: 10pt Symbol; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in\">\u00a0<\/p>\n<p>\u25cfSales volume increased 24.1% to 53,243 sets of transmission<br \/>\nproducts, compared with 42,908 sets in the prior-year period.<\/p>\n<p style=\"font: 10pt Symbol; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in\">\u00a0<\/p>\n<p>\u25cfGross profit increased 65.9% to $9.5 million; gross margin<br \/>\nexpanded to 31.9% from 26.5%.<\/p>\n<p style=\"font: 10pt Symbol; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in\">\u00a0<\/p>\n<p>\u25cfIncome from operations was $6.0 million, compared with an<br \/>\noperating loss of $2.3 million in the prior-year period.<\/p>\n<p style=\"font: 10pt Symbol; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in\">\u00a0<\/p>\n<p>\u25cfNet income was $4.9 million, compared with a net loss of<br \/>\n$2.8 million in the prior-year period.<\/p>\n<p style=\"font: 10pt Symbol; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in\">\u00a0<\/p>\n<p>\u25cfNet income attributable to Greenland Technologies Holding<br \/>\nCorporation and subsidiaries was $3.5 million, compared with a net loss attributable to the Company of $3.2 million in the prior-year<br \/>\nperiod.<\/p>\n<p style=\"font: 10pt Symbol; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in\">\u00a0<\/p>\n<p>\u25cfBasic and diluted earnings per share were $0.13, compared<br \/>\nwith a loss per share of $0.20 in the prior-year period.<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">\u00a0<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">Raymond Z. Wang, Chief Executive Officer of<br \/>\nGreenland Technologies, commented, \u201cWe delivered strong second-quarter results, with revenue growth, higher sales volume, meaningful<br \/>\ngross margin expansion and a return to profitability compared with the prior-year period. The increase in gross profit reflected higher<br \/>\nsales volume and a favorable shift in product mix toward higher-value and more sophisticated products, including hydraulic transmission<br \/>\nproducts.\u201d<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">\u00a0<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">\u201cDuring the first half of 2026, we sold<br \/>\n99,270 sets of transmission products, up 21.6% year over year, while gross margin expanded to 33.0%. We remain focused on product development,<br \/>\nserving our customers and strengthening our position in the material handling industry.\u201d<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">\u00a0<\/p>\n<p style=\"font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">Second Quarter 2026 Financial Results<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">\u00a0<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">Revenue was $29.88 million for the three<br \/>\nmonths ended June 30, 2026, an increase of $8.16 million, or 37.6%, from $21.72 million in the prior-year period. The increase was primarily<br \/>\nattributable to higher sales volume of transmission products. The Company sold 53,243 sets of transmission products during the quarter,<br \/>\ncompared with 42,908 sets in the second quarter of 2025, an increase of 24.1%.<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">\u00a0<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">Revenue from transmission boxes for forklifts<br \/>\nwas $29.14 million, compared with $21.02 million in the prior-year period. Revenue from transmission boxes for non-forklift applications<br \/>\nwas $0.74 million, compared with $0.70 million.<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">\u00a0<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">Cost of goods sold was $20.34 million,<br \/>\nan increase of 27.3% from $15.97 million in the prior-year period, primarily attributable to increased sales volume.<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">\u00a0<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">Gross profit was $9.54 million, an increase<br \/>\nof 65.9% from $5.75 million. Gross margin was 31.9%, compared with 26.5%. The increase in gross profit was primarily attributable to increased<br \/>\nsales volume and a shift in product mix toward higher-value and more sophisticated products, such as hydraulic transmission products.<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">\u00a0<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">Total operating expenses decreased 55.9%<br \/>\nto $3.56 million from $8.07 million. Selling expenses increased to $1.67 million from $1.00 million, primarily due to higher after-sales<br \/>\nservice fees. General and administrative expenses decreased 87.4% to $0.84 million from $6.63 million, primarily due to lower stock-based<br \/>\ncompensation expense. Research and development expenses increased 135.9% to $1.05 million from $0.44 million, primarily due to increased<br \/>\nR&amp;D activities.<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">\u00a0<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">\u00a0<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">Income from operations was $5.98 million,<br \/>\ncompared with an operating loss of $2.32 million in the prior-year period.<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">\u00a0<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">Net income was $4.94 million, compared<br \/>\nwith a net loss of $2.76 million. Net income attributable to Greenland Technologies Holding Corporation and subsidiaries was $3.50 million,<br \/>\ncompared with a net loss attributable to the Company of $3.23 million.<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">\u00a0<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">Basic and diluted earnings per share were $0.13,<br \/>\ncompared with a basic and diluted loss per share of $0.20 in the prior-year period.<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">\u00a0<\/p>\n<p style=\"font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">First Half 2026 Financial Results<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">\u00a0<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">Revenue increased 27.7% to $55.42 million<br \/>\nfrom $43.40 million for the six months ended June 30, 2025. The Company sold 99,270 sets of transmission products, compared with 81,642<br \/>\nsets in the prior-year period, an increase of 21.6%.<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">\u00a0<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">Revenue from transmission boxes for forklifts<br \/>\nwas $54.06 million, compared with $41.95 million in the prior-year period. Revenue from transmission boxes for non-forklift applications<br \/>\nwas $1.36 million, compared with $1.45 million.<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">\u00a0<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">Gross profit increased 47.4% to $18.30<br \/>\nmillion from $12.41 million. Gross margin expanded to 33.0% from 28.6%, primarily due to increased sales volume and a shift in product<br \/>\nmix toward higher-value and more sophisticated products, such as hydraulic transmission products.<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">\u00a0<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">Total operating expenses decreased to $6.60<br \/>\nmillion from $9.93 million. Research and development expenses increased to $1.83 million from $0.53 million.<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">\u00a0<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">Income from operations increased to $11.70<br \/>\nmillion from $2.49 million.<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">\u00a0<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">Net income increased to $10.69 million<br \/>\nfrom $1.80 million. Net income attributable to Greenland Technologies Holding Corporation and subsidiaries increased to $8.50 million<br \/>\nfrom $0.78 million.<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">\u00a0<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">Basic and diluted earnings per share were $0.35,<br \/>\ncompared with $0.05 in the prior-year period.<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">\u00a0<\/p>\n<p style=\"font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">Balance Sheet and Cash Flow<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">\u00a0<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">As of June 30, 2026, cash and cash equivalents<br \/>\nwere $8.98 million, compared with $7.78 million as of December 31, 2025.<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">\u00a0<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">Total assets were $147.53 million as of June 30,<br \/>\n2026, compared with $115.77 million as of December 31, 2025. Total shareholders\u2019 equity was $82.89 million, compared with $66.32<br \/>\nmillion at year-end 2025.<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">\u00a0<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">For the six months ended June 30, 2026, net cash<br \/>\nprovided by operating activities was $0.09 million, compared with net cash used in operating activities of $0.46 million in the prior-year<br \/>\nperiod. Net cash used in investing activities was $10.64 million, and net cash provided by financing activities was $11.66 million.<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">\u00a0<\/p>\n<p style=\"font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">About Greenland Technologies Holding Corporation<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">\u00a0<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">Greenland Technologies<br \/>\nHolding Corporation (Nasdaq:\u00a0GTEC) designs, develops, manufactures and sells components and products for the global material handling<br \/>\nindustries. Through its subsidiaries in the People\u2019s Republic of China, Greenland offers transmission products that are key components<br \/>\nfor forklift trucks used in manufacturing and logistics applications. Greenland also formed HEVI Corp. (\u201cHEVI\u201d), a wholly<br \/>\nowned subsidiary incorporated in the State of Delaware, focused on electric industrial vehicles for the North American market; however,<br \/>\nsubstantially all of HEVI\u2019s business operations have been suspended since 2025 due to uncertainty regarding tariff policy. For more<br \/>\ninformation, please visit the Company\u2019s website at\u00a0https:\/\/ir.gtec-tech.com.<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">\u00a0<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">Safe Harbor Statement <\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">\u00a0<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify\">This press release contains statements that<br \/>\nmay constitute \u201cforward-looking statements.\u201d Such statements reflect\u00a0Greenland\u2019s\u00a0current views with<br \/>\nrespect to future events and are subject to such risks and uncertainties, many of which are beyond the control of\u00a0Greenland,<br \/>\nincluding those set forth in the Risk Factors section of\u00a0Greenland\u2019s\u00a0Annual Report on Form 10-K filed with the U.S.<br \/>\nSecurities and Exchange Commission (\u201cSEC\u201d). Copies are available on the SEC\u2019s website,\u00a0www.sec.gov. Words<br \/>\nsuch as \u201cexpect,\u201d \u201cestimate,\u201d \u201cproject,\u201d \u201cbudget,\u201d \u201cforecast,\u201d<br \/>\n\u201canticipate,\u201d \u201cintend,\u201d \u201cplan,\u201d \u201cmay,\u201d \u201cwill,\u201d \u201ccould,\u201d<br \/>\n\u201cshould,\u201d \u201cbelieves,\u201d \u201cpredicts,\u201d \u201cpotential,\u201d \u201ccontinue,\u201d and similar<br \/>\nexpressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation,<br \/>\nGreenland\u2019s expectations with respect to the success of\u00a0Greenland\u2019s\u00a0business execution, ability to unlock<br \/>\nshareholder value or its ability to grow its business as an integrated company. Should one or more of these risks or uncertainties<br \/>\nmaterialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially<br \/>\nfrom those described herein as intended, planned, anticipated or expected. Statements contained in this news release regarding past<br \/>\ntrends or activities should not be taken as a representation that such trends or activities will continue in the<br \/>\nfuture.\u00a0Greenland\u00a0does not intend and does not assume any obligation to update these forward-looking statements, other<br \/>\nthan as required by law.<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\">\u00a0<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\">\u00a0<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center\">GREENLAND TECHNOLOGIES HOLDING CORPORATION AND<br \/>\nSUBSIDIARIES<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center\">\u00a0<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center\">UNAUDITED CONSOLIDATED BALANCE SHEETS<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center\">\u00a0<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center\">AS OF JUNE 30, 2026 AND DECEMBER 31, 2025<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center\">\u00a0<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center\">(Amounts in U.S. dollars, except share and per<br \/>\nshare data)<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center\">\u00a0<\/p>\n<p>    \u00a0\u00a0<br \/>\n    June\u00a030,\u00a0\u00a0<br \/>\n    December\u00a031,\u00a0<\/p>\n<p>    \u00a0\u00a0<br \/>\n    2026\u00a0\u00a0<br \/>\n    2025\u00a0<\/p>\n<p>    ASSETS\u00a0<br \/>\n    \u00a0\u00a0\u00a0\u00a0<br \/>\n    \u00a0\u00a0\u00a0<\/p>\n<p>    Current assets\u00a0<br \/>\n    \u00a0\u00a0\u00a0\u00a0<br \/>\n    \u00a0\u00a0\u00a0<\/p>\n<p>    Cash and cash equivalents\u00a0<br \/>\n    $8,980,604\u00a0\u00a0<br \/>\n    $7,775,330\u00a0<\/p>\n<p>    Restricted cash\u00a0<br \/>\n    \u00a0&#8211;\u00a0\u00a0<br \/>\n    \u00a071,540\u00a0<\/p>\n<p>    Short term investment\u00a0<br \/>\n    \u00a023,330,932\u00a0\u00a0<br \/>\n    \u00a024,454,701\u00a0<\/p>\n<p>    Notes receivable\u00a0<br \/>\n    \u00a022,146,768\u00a0\u00a0<br \/>\n    \u00a014,704,079\u00a0<\/p>\n<p>    Accounts receivable, net\u00a0<br \/>\n    \u00a030,472,900\u00a0\u00a0<br \/>\n    \u00a017,256,479\u00a0<\/p>\n<p>    Inventories, net\u00a0<br \/>\n    \u00a024,623,617\u00a0\u00a0<br \/>\n    \u00a024,377,036\u00a0<\/p>\n<p>    Due from related parties-current\u00a0<br \/>\n    \u00a0511,400\u00a0\u00a0<br \/>\n    \u00a01,106,417\u00a0<\/p>\n<p>    Advance to suppliers\u00a0<br \/>\n    \u00a091,112\u00a0\u00a0<br \/>\n    \u00a080,757\u00a0<\/p>\n<p>    Fixed deposit-current\u00a0<br \/>\n    \u00a03,099,212\u00a0\u00a0<br \/>\n    \u00a02,966,386\u00a0<\/p>\n<p>    Prepayments and other current assets\u00a0<br \/>\n    \u00a012,542,769\u00a0\u00a0<br \/>\n    \u00a02,472,387\u00a0<\/p>\n<p>    Total Current Assets\u00a0<br \/>\n    $125,799,314\u00a0\u00a0<br \/>\n    $95,265,112\u00a0<\/p>\n<p>    \u00a0\u00a0<br \/>\n    \u00a0\u00a0\u00a0\u00a0<br \/>\n    \u00a0\u00a0\u00a0<\/p>\n<p>    Non-current asset\u00a0<br \/>\n    \u00a0\u00a0\u00a0\u00a0<br \/>\n    \u00a0\u00a0\u00a0<\/p>\n<p>    Property, plant and equipment, net\u00a0<br \/>\n    \u00a012,636,194\u00a0\u00a0<br \/>\n    \u00a011,889,147\u00a0<\/p>\n<p>    Land use rights, net\u00a0<br \/>\n    \u00a03,381,779\u00a0\u00a0<br \/>\n    \u00a03,325,188\u00a0<\/p>\n<p>    Intangible assets\u00a0<br \/>\n    \u00a037,955\u00a0\u00a0<br \/>\n    \u00a068,691\u00a0<\/p>\n<p>    Deferred tax assets\u00a0<br \/>\n    \u00a0460,304\u00a0\u00a0<br \/>\n    \u00a0446,613\u00a0<\/p>\n<p>    Fixed deposit-non current\u00a0<br \/>\n    \u00a04,602,744\u00a0\u00a0<br \/>\n    \u00a04,421,828\u00a0<\/p>\n<p>    Other non-current assets\u00a0<br \/>\n    \u00a0607,978\u00a0\u00a0<br \/>\n    \u00a0355,762\u00a0<\/p>\n<p>    Total non-current assets\u00a0<br \/>\n    $21,726,954\u00a0\u00a0<br \/>\n    $20,507,229\u00a0<\/p>\n<p>    TOTAL ASSETS\u00a0<br \/>\n    $147,526,268\u00a0\u00a0<br \/>\n    $115,772,341\u00a0<\/p>\n<p>    \u00a0\u00a0<br \/>\n    \u00a0\u00a0\u00a0\u00a0<br \/>\n    \u00a0\u00a0\u00a0<\/p>\n<p>    Current Liabilities\u00a0<br \/>\n    \u00a0\u00a0\u00a0\u00a0<br \/>\n    \u00a0\u00a0\u00a0<\/p>\n<p>    Notes payable-bank acceptance notes\u00a0<br \/>\n    $20,263,519\u00a0\u00a0<br \/>\n    $12,759,720\u00a0<\/p>\n<p>    Accounts payable\u00a0<br \/>\n    \u00a035,032,772\u00a0\u00a0<br \/>\n    \u00a025,604,917\u00a0<\/p>\n<p>    Taxes payables\u00a0<br \/>\n    \u00a0532,521\u00a0\u00a0<br \/>\n    \u00a01,622,509\u00a0<\/p>\n<p>    Contract liabilities\u00a0<br \/>\n    \u00a096,926\u00a0\u00a0<br \/>\n    \u00a093,698\u00a0<\/p>\n<p>    Due to related parties\u00a0<br \/>\n    \u00a05,371,788\u00a0\u00a0<br \/>\n    \u00a05,275,011\u00a0<\/p>\n<p>    Other current liabilities\u00a0<br \/>\n    \u00a02,440,568\u00a0\u00a0<br \/>\n    \u00a02,941,871\u00a0<\/p>\n<p>    Total current liabilities\u00a0<br \/>\n    $63,738,094\u00a0\u00a0<br \/>\n    $48,297,726\u00a0<\/p>\n<p>    \u00a0\u00a0<br \/>\n    \u00a0\u00a0\u00a0\u00a0<br \/>\n    \u00a0\u00a0\u00a0<\/p>\n<p>    Non-current liabilities\u00a0<br \/>\n    \u00a0\u00a0\u00a0\u00a0<br \/>\n    \u00a0\u00a0\u00a0<\/p>\n<p>    Deferred revenue\u00a0<br \/>\n    \u00a0875,108\u00a0\u00a0<br \/>\n    \u00a01,083,784\u00a0<\/p>\n<p>    Warrant liability\u00a0<br \/>\n    \u00a018,900\u00a0\u00a0<br \/>\n    \u00a070,910\u00a0<\/p>\n<p>    Total non-current liabilities\u00a0<br \/>\n    $894,008\u00a0\u00a0<br \/>\n    $1,154,694\u00a0<\/p>\n<p>    TOTAL LIABILITIES\u00a0<br \/>\n    $64,632,102\u00a0\u00a0<br \/>\n    $49,452,420\u00a0<\/p>\n<p>    \u00a0\u00a0<br \/>\n    \u00a0\u00a0\u00a0\u00a0<br \/>\n    \u00a0\u00a0\u00a0<\/p>\n<p>    COMMITMENTS AND CONTINGENCIES\u00a0<br \/>\n    \u00a0&#8211;\u00a0\u00a0<br \/>\n    \u00a0&#8211;\u00a0<\/p>\n<p>    Shareholders\u2019 equity\u00a0<br \/>\n    \u00a0\u00a0\u00a0\u00a0<br \/>\n    \u00a0\u00a0\u00a0<\/p>\n<p>    Ordinary shares, no par value, unlimited shares authorized; nil \u00a0and 17,394,226 shares issued and outstanding as of June 30, 2026 and December\u00a031, 2025.\u00a0<br \/>\n    \u00a0&#8211;\u00a0\u00a0<br \/>\n    \u00a0&#8211;\u00a0<\/p>\n<p>    Class A Ordinary Shares, no par value, unlimited shares authorized; 20,532,482 \u00a0and nil shares issued and outstanding as of June 30, 2026 and December\u00a031, 2025.\u00a0<br \/>\n    \u00a0&#8211;\u00a0\u00a0<br \/>\n    \u00a0&#8211;\u00a0<\/p>\n<p>    Class B Ordinary Shares, no par value, unlimited shares authorized; 6,011,740 \u00a0and nil shares issued and outstanding as of June 30, 2026 and December\u00a031, 2025.\u00a0<br \/>\n    \u00a0&#8211;\u00a0\u00a0<br \/>\n    \u00a0&#8211;\u00a0<\/p>\n<p>    Additional paid-in capital\u00a0<br \/>\n    \u00a038,602,913\u00a0\u00a0<br \/>\n    \u00a033,017,917\u00a0<\/p>\n<p>    Statutory reserves\u00a0<br \/>\n    \u00a03,842,331\u00a0\u00a0<br \/>\n    \u00a03,842,331\u00a0<\/p>\n<p>    Retained earnings\u00a0<br \/>\n    \u00a046,037,583\u00a0\u00a0<br \/>\n    \u00a037,533,648\u00a0<\/p>\n<p>    Accumulated other comprehensive income (loss)\u00a0<br \/>\n    \u00a0248,450\u00a0\u00a0<br \/>\n    \u00a0(1,452,410)<\/p>\n<p>    Total shareholders\u2019 equity attributed to Greenland Technologies Holding Corporation and subsidiaries\u00a0<br \/>\n    $88,731,277\u00a0\u00a0<br \/>\n    $72,941,486\u00a0<\/p>\n<p>    Non-controlling interest\u00a0<br \/>\n    \u00a0(5,837,111)\u00a0<br \/>\n    \u00a0(6,621,565)<\/p>\n<p>    TOTAL SHAREHOLDERS\u2019 EQUITY\u00a0<br \/>\n    $82,894,166\u00a0\u00a0<br \/>\n    $66,319,921\u00a0<\/p>\n<p>    \u00a0\u00a0<br \/>\n    \u00a0\u00a0\u00a0\u00a0<br \/>\n    \u00a0\u00a0\u00a0<\/p>\n<p>    TOTAL LIABILITIES AND SHAREHOLDERS\u2019 EQUITY\u00a0<br \/>\n    $147,526,268\u00a0\u00a0<br \/>\n    $115,772,341\u00a0<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center\">\u00a0<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\">\u00a0<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center\">GREENLAND TECHNOLOGIES HOLDING CORPORATION AND<br \/>\nSUBSIDIARIES<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center\">\u00a0<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center\">UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS<br \/>\nAND COMPREHENSIVE INCOME\uff08LOSS\uff09<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center\">\u00a0<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center\">FOR THE THREE AND SIX MONTHS ENDED JUNE 30,<br \/>\n2026 AND 2025<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center\">\u00a0<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center\">(Amounts in U.S. dollars, except share and per<br \/>\nshare data)<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center\">\u00a0<\/p>\n<p>    \u00a0\u00a0<br \/>\n    For the three months ended<br \/>June 30,\u00a0\u00a0<br \/>\n    For the six months ended <br \/>June 30,\u00a0<\/p>\n<p>    \u00a0\u00a0<br \/>\n    2026\u00a0\u00a0<br \/>\n    2025\u00a0\u00a0<br \/>\n    2026\u00a0\u00a0<br \/>\n    2025\u00a0<\/p>\n<p>    Revenues\u00a0<br \/>\n    $29,877,328\u00a0\u00a0<br \/>\n    $21,719,786\u00a0\u00a0<br \/>\n    $55,415,673\u00a0\u00a0<br \/>\n    $43,397,350\u00a0<\/p>\n<p>    Cost of goods sold\u00a0<br \/>\n    \u00a020,335,719\u00a0\u00a0<br \/>\n    \u00a015,969,005\u00a0\u00a0<br \/>\n    \u00a037,114,802\u00a0\u00a0<br \/>\n    \u00a030,985,619\u00a0<\/p>\n<p>    Gross profit\u00a0<br \/>\n    \u00a09,541,609\u00a0\u00a0<br \/>\n    \u00a05,750,781\u00a0\u00a0<br \/>\n    \u00a018,300,871\u00a0\u00a0<br \/>\n    \u00a012,411,731\u00a0<\/p>\n<p>    Selling expenses\u00a0<br \/>\n    \u00a01,674,395\u00a0\u00a0<br \/>\n    \u00a01,003,766\u00a0\u00a0<br \/>\n    \u00a02,093,409\u00a0\u00a0<br \/>\n    \u00a01,335,575\u00a0<\/p>\n<p>    General and administrative expenses\u00a0<br \/>\n    \u00a0837,194\u00a0\u00a0<br \/>\n    \u00a06,626,542\u00a0\u00a0<br \/>\n    \u00a02,679,622\u00a0\u00a0<br \/>\n    \u00a08,065,530\u00a0<\/p>\n<p>    Research and development expenses\u00a0<br \/>\n    \u00a01,046,955\u00a0\u00a0<br \/>\n    \u00a0443,720\u00a0\u00a0<br \/>\n    \u00a01,825,174\u00a0\u00a0<br \/>\n    \u00a0525,177\u00a0<\/p>\n<p>    Total operating expenses\u00a0<br \/>\n    $3,558,544\u00a0\u00a0<br \/>\n    $8,074,028\u00a0\u00a0<br \/>\n    $6,598,205\u00a0\u00a0<br \/>\n    $9,926,282\u00a0<\/p>\n<p>    INCOME (LOSS) FROM OPERATIONS\u00a0<br \/>\n    $5,983,065\u00a0\u00a0<br \/>\n    $(2,323,247)\u00a0<br \/>\n    $11,702,666\u00a0\u00a0<br \/>\n    $2,485,449\u00a0<\/p>\n<p>    Interest income\u00a0<br \/>\n    \u00a023,109\u00a0\u00a0<br \/>\n    \u00a0170,917\u00a0\u00a0<br \/>\n    \u00a0396,433\u00a0\u00a0<br \/>\n    \u00a0311,957\u00a0<\/p>\n<p>    Interest expense\u00a0<br \/>\n    \u00a0(10,453)\u00a0<br \/>\n    \u00a0&#8211;\u00a0\u00a0<br \/>\n    \u00a0(43,833)\u00a0<br \/>\n    \u00a0&#8211;\u00a0<\/p>\n<p>    Change in fair value of the warrant liability\u00a0<br \/>\n    \u00a0104,937\u00a0\u00a0<br \/>\n    \u00a081,739\u00a0\u00a0<br \/>\n    \u00a052,010\u00a0\u00a0<br \/>\n    \u00a0291,033\u00a0<\/p>\n<p>    Other income\u00a0<br \/>\n    \u00a079,979\u00a0\u00a0<br \/>\n    \u00a0159,739\u00a0\u00a0<br \/>\n    \u00a0825,687\u00a0\u00a0<br \/>\n    \u00a0441,820\u00a0<\/p>\n<p>    INCOME (LOSS) BEFORE INCOME TAX\u00a0<br \/>\n    $6,180,637\u00a0\u00a0<br \/>\n    $(1,910,852)\u00a0<br \/>\n    $12,932,963\u00a0\u00a0<br \/>\n    $3,530,259\u00a0<\/p>\n<p>    INCOME TAX EXPENSE\u00a0<br \/>\n    \u00a01,237,631\u00a0\u00a0<br \/>\n    \u00a0848,920\u00a0\u00a0<br \/>\n    \u00a02,241,526\u00a0\u00a0<br \/>\n    \u00a01,727,195\u00a0<\/p>\n<p>    NET INCOME (LOSS)\u00a0<br \/>\n    $4,943,006\u00a0\u00a0<br \/>\n    $(2,759,772)\u00a0<br \/>\n    $10,691,437\u00a0\u00a0<br \/>\n    $1,803,064\u00a0<\/p>\n<p>    LESS: NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTEREST\u00a0<br \/>\n    \u00a01,439,551\u00a0\u00a0<br \/>\n    \u00a0465,496\u00a0\u00a0<br \/>\n    \u00a02,187,502\u00a0\u00a0<br \/>\n    \u00a01,024,549\u00a0<\/p>\n<p>    NET INCOME (LOSS) ATTRIBUTABLE TO GREENLAND TECHNOLOGIES HOLDING CORPORATION AND SUBSIDIARIES\u00a0<br \/>\n    $3,503,455\u00a0\u00a0<br \/>\n    $(3,225,268)\u00a0<br \/>\n    $8,503,935\u00a0\u00a0<br \/>\n    $778,515\u00a0<\/p>\n<p>    OTHER COMPREHENSIVE INCOME:\u00a0<br \/>\n    \u00a01,086,162\u00a0\u00a0<br \/>\n    \u00a0940,906\u00a0\u00a0<br \/>\n    \u00a01,900,750\u00a0\u00a0<br \/>\n    \u00a01,389,002\u00a0<\/p>\n<p>    Unrealized foreign currency translation income attributable to Greenland Technologies Holding Corporation and subsidiaries\u00a0<br \/>\n    \u00a0975,752\u00a0\u00a0<br \/>\n    \u00a0853,622\u00a0\u00a0<br \/>\n    \u00a01,700,860\u00a0\u00a0<br \/>\n    \u00a01,265,758\u00a0<\/p>\n<p>    Unrealized foreign currency translation income attributable to non-controlling interest\u00a0<br \/>\n    \u00a0110,410\u00a0\u00a0<br \/>\n    \u00a087,284\u00a0\u00a0<br \/>\n    \u00a0199,890\u00a0\u00a0<br \/>\n    \u00a0123,244\u00a0<\/p>\n<p>    Total comprehensive income (loss) attributable to Greenland technologies holding corporation and subsidiaries\u00a0<br \/>\n    \u00a04,479,207\u00a0\u00a0<br \/>\n    \u00a0(2,371,646)\u00a0<br \/>\n    \u00a010,204,795\u00a0\u00a0<br \/>\n    \u00a02,044,273\u00a0<\/p>\n<p>    Total comprehensive income attributable to noncontrolling interest\u00a0<br \/>\n    \u00a01,549,961\u00a0\u00a0<br \/>\n    \u00a0552,780\u00a0\u00a0<br \/>\n    \u00a02,387,392\u00a0\u00a0<br \/>\n    \u00a01,147,793\u00a0<\/p>\n<p>    WEIGHTED AVERAGE ORDINARY SHARES OUTSTANDING:\u00a0<br \/>\n    \u00a026,544,222\u00a0\u00a0<br \/>\n    \u00a016,099,824\u00a0\u00a0<br \/>\n    \u00a024,162,323\u00a0\u00a0<br \/>\n    \u00a014,875,091\u00a0<\/p>\n<p>    Basic and diluted\u00a0<br \/>\n    \u00a00.13\u00a0\u00a0<br \/>\n    \u00a0(0.20)\u00a0<br \/>\n    \u00a00.35\u00a0\u00a0<br \/>\n    \u00a00.05\u00a0<\/p>\n<p style=\"font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0\">\u00a0<\/p>\n<p style=\"font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0\">Investor Relations Contact<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\">Greenland Technologies Holding Corporation<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\">Investor Relations<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\">\u00a0<\/p>\n<p style=\"font: 10pt Times New Roman, Times, Serif; margin: 0pt 0\">\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation&hellip;\n","protected":false},"author":2,"featured_media":145930,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[5],"tags":[69476,270,57,24092,65480,15285,69477,43689,63370,2632,43691],"class_list":["post-145929","post","type-post","status-publish","format-standard","has-post-thumbnail","category-greenland","tag-8-k","tag-earnings","tag-greenland","tag-greenland-technologies","tag-gross-margin","tag-gtec","tag-material-handling","tag-net-income","tag-q2-2026","tag-revenue-growth","tag-transmission-products"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@dk\/117094298862235761","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/posts\/145929","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/comments?post=145929"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/posts\/145929\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/media\/145930"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/media?parent=145929"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/categories?post=145929"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/dk\/wp-json\/wp\/v2\/tags?post=145929"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}