Greenland Tech | 10-Q: FY2025 Q2 Revenue: USD 21.72 M

Revenue: As of FY2025 Q2, the actual value is USD 21.72 M.

EPS: As of FY2025 Q2, the actual value is USD -0.2.

EBIT: As of FY2025 Q2, the actual value is USD -1.911 M.

Segment Revenue

• Total Revenue: For the six months ended June 30, 2025, Greenland Technologies Holding Corporation reported total revenue of $43.40 million, a decrease of 5.1% compared to $45.74 million for the same period in 2024.

Operational Metrics

• Net Income: The net income for the six months ended June 30, 2025, was $1.80 million, a significant decrease of 80.9% from $9.44 million for the same period in 2024.
• Gross Profit: Gross profit for the six months ended June 30, 2025, was $12.41 million, slightly down from $12.42 million in the same period of 2024. The gross margin improved to 28.6% from 27.2%.
• Operating Expenses: Total operating expenses increased by 52.5% to $9.93 million for the six months ended June 30, 2025, from $6.51 million in the same period of 2024. This increase was mainly due to higher general and administrative expenses, which rose by 138.4% to $8.07 million, primarily due to stock-based compensation expenses.

Cash Flow

• Operating Cash Flow: Net cash used in operating activities was - $0.46 million for the six months ended June 30, 2025, compared to $2.92 million provided by operating activities in the same period of 2024. This change was primarily due to increased accounts receivable and decreased accounts payable.
• Free Cash Flow: Not explicitly stated, but the net decrease in cash and cash equivalents and restricted cash was - $3.88 million for the six months ended June 30, 2025.

Unique Metrics

• Sales Volume: Greenland sold 81,642 sets of transmission products in the six months ended June 30, 2025, compared to 80,496 sets in the same period of 2024.

Future Outlook and Strategy

• Core Business Focus: Greenland Technologies plans to continue focusing on the production and sale of electric industrial vehicles through its subsidiary HEVI, which includes a range of lithium-powered forklifts and other electric heavy equipment. The company aims to expand its market presence in the U.S. and enhance its product offerings.
• Non-Core Business: The company is exploring opportunities to diversify its supplier network to secure a more stable supply of raw materials, which could help mitigate risks associated with supply chain disruptions.