Quarterly ResultMay 13, 2026, 04:18 PM
Greenland Technologies Q1 Revenue $25.5M, Net Income $5.7M; EPS $0.23
AI Summary
Greenland Technologies Holding Corp. reported a significant increase in revenues and net income for the first quarter of 2026. Revenues grew by 17.8% to $25.5 million, and net income increased by 26.0% to $5.7 million. However, diluted earnings per share decreased to $0.23 from $0.29 in the prior year, primarily due to a substantial increase in weighted average ordinary shares outstanding. The company also noted that its HEVI Corp. electric industrial vehicle operations remain suspended due to tariff policy uncertainty.
Key Highlights
- Q1 2026 revenues increased by 17.8% to $25.5 million from $21.7 million in Q1 2025.
- Q1 2026 net income rose by 26.0% to $5.7 million, up from $4.6 million in Q1 2025.
- Diluted earnings per share for Q1 2026 were $0.23, down from $0.29 in Q1 2025.
- Sold 46,027 sets of transmission products in Q1 2026, an 18.8% increase year-over-year.
- Total assets grew to $136.6 million as of March 31, 2026, an 17.9% increase from December 31, 2025.
- Net cash used in operating activities was $1.2 million in Q1 2026, compared to $1.2 million provided in Q1 2025.
- HEVI Corp. operations remain suspended since 2025 due to tariff policy uncertainty.
- Proceeds from equity and debt financing contributed $5.6 million to financing activities.