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Greenland Technologies Holding Corporation (GTEC) investor relations material
Greenland Technologies Holding Corporation Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue for the nine months ended September 30, 2025 increased 3.4% year-over-year to $66.8 million, driven by higher sales volume of transmission products.
Net income for the nine months was $8.39 million, down 14.4% from $9.80 million in the prior year period, mainly due to higher general and administrative expenses from stock-based compensation.
Gross margin improved to 29.9% from 26.9% year-over-year, reflecting increased sales volume and lower raw material costs.
The company continues to expand its electric industrial vehicle business in North America through its HEVI subsidiary, launching new products and partnerships.
Financial highlights
For Q3 2025, revenue rose 24.3% year-over-year to $23.4 million, with gross profit up 52.5% to $7.57 million and gross margin at 32.4%.
Net income for Q3 2025 was $6.59 million, a significant increase from $0.36 million in Q3 2024, aided by a $1.53 million gain from warrant liability revaluation.
General and administrative expenses for the nine months surged 108.9% to $9.58 million, mainly due to $6.95 million in stock-based compensation.
Cash and cash equivalents at September 30, 2025 were $3.94 million, down from $6.66 million at year-end 2024, primarily due to increased short-term investments.
Working capital improved to $47.81 million from $35.11 million at year-end 2024.
Outlook and guidance
Management expects to maintain sufficient liquidity for the next 12 months and anticipates continued positive cash flow from operations.
The company plans to rely on cash flow, renewal of bank borrowings, and potential equity financing to fund operations and growth.
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