GTEC - EV Stock Greenland Technologies Holding Corporation Soars on Strong Financial Results

March, 27 2025 11:40 AM Greenland Technologies Holding Corporation

2025-03-27 11:40:00 ET

March 27, 2025 (Investorideas.com Newswire) Investorideas.com ( www.investorideas.com , a top 100 Investment go-to platform for big investing ideas, including renewable energy and EV stocks ,reports on trading and news for Greenland Technologies Holding Corporation ( Nasdaq: GTEC ), a technology developer and manufacturer of electric industrial vehicles and drivetrain systems for material handling machineries and vehicles.

The stock makes the NASDAQ top gainers list in today's trading on financial results. The stock is trading at 2.0699 up 0.7799, gaining 60.4574%) on volume of over 44 Million shares as of this report. The stock has a morning high of $2.39.

Greenland just announced its audited financial results for the fiscal full year ended December 31, 2024.

Full Year 2024 Financial and Operating Highlights

Greenland reduced its operating expenses 28%, to $9.9 million for the fiscal full year 2024, compared to $13.8 million for the fiscal full year 2023, demonstrating a strong commitment to cost efficiency.

Income from operations increased 17%, reaching $12.59 million for the fiscal full year 2024, up from $10.8 million for the fiscal full year 2023, driven by lower operating expenses and enhanced operational performance.

The Company achieved net income of $15.15 million for the fiscal full year 2024, increased from a net loss of $25.02 million for the fiscal full year 2023.

Raymond Wang, Chief Executive Officer of Greenland Technologies, commented, "While we were impacted by broader market and economic challenges along with our customers, we are definitely encouraged by the relative stability of our revenue and resiliency of our business. We achieved an impressive rebound in profitability, delivering net income of $1.03 per basic and diluted share for the fiscal full year 2024, compared to a loss of $1.20 per basic and diluted share for the fiscal full year 2023, as we work to accelerate more widespread commercialization of our vehicles and product lines. We have both expanded and diversified our product line, which we believe is an important step to strengthen our market position and ability to support customers. In addition to transmission systems and integrated powertrains, our portfolio of electric industrial heavy equipment now includes a wide array of all-electric clean and sustainable alternatives to traditional heavy-emission systems in the industrial heavy equipment industry under the Company's HEVI brand."

Full news

https://finance.yahoo.com/news/greenland-technologies-fiscal-full-2024-200500283.html

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Company Name:	Greenland Technologies Holding Corporation
Stock Symbol:	GTEC
Market:	NASDAQ
Website:	ir.gtec-tech.com

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