Greenland Technologies Reports 8% Revenue Growth to $90.69 Million for Fiscal Year 2025

Greenland Technologies Holding Corporation reported a revenue increase of approximately 8% for the fiscal year ending December 31, 2025, reaching $90.69 million, up from $83.94 million in 2024. This growth was primarily driven by a rise in sales volume of transmission products, which saw an increase of 11.2%, with 166,317 sets sold compared to 149,597 sets in the previous year. However, the company's net income decreased by 43.3% to $8.60 million from $15.15 million, attributed to a significant rise in general and administrative expenses, which surged by 214.6% to $15.27 million, largely due to stock-based compensation and uncollectible accounts.

Operationally, Greenland's cost of goods sold rose by 1.4% to $62.25 million, reflecting the increased sales volume. The gross profit margin improved to 31.4% from 26.8% in the prior year, resulting in a gross profit of $28.45 million, an increase of 26.2%. The company also reported a notable increase in research and development expenses, which rose by 33.5% to $3.92 million, indicating a commitment to innovation and product development.

Strategically, Greenland has faced challenges with its subsidiary HEVI Corp., which focuses on electric industrial vehicles. HEVI's operations have been suspended since 2025 due to uncertainties surrounding tariff policies, although the company plans to resume operations once the regulatory environment stabilizes. In 2024, HEVI launched new electric machinery products and established a partnership with Lonking Holdings Limited to enhance its market presence in the U.S. Despite these efforts, the suspension has limited HEVI's revenue-generating activities.

As of December 31, 2025, Greenland's total assets were approximately $115.77 million, with cash and cash equivalents amounting to $7.78 million. The company reported a working capital of $46.97 million, an increase from $35.11 million in 2024. The total liabilities decreased to $49.45 million from $62.31 million, primarily due to a reduction in notes payable. Looking ahead, Greenland anticipates continued revenue growth driven by demand for its transmission products and plans to leverage its cash flow for operational needs, while also addressing the challenges posed by HEVI's operational suspension and market conditions.