Greenland Technologies Holding Corporation (GTEC) Financial Statements (2025 and earlier)
Company Profile
| Business Address |
50 MILLSTONE ROAD, BUILDING 400 EAST WINDSOR, NJ 08512 |
| State of Incorp. | |
| Fiscal Year End | December 31 |
| Industry (SIC) | 356 - General Industrial Machinery And Equipment (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 9/30/2024 MRQ | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 11/30/2018 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 25,799 | 24,096 | 13,169 | 7,159 | 2,123 | 645 | |||
| Cash and cash equivalents | 22,981 | 16,296 | 11,063 | 7,159 | 2,123 | 645 | |||
| Short-term investments | 2,818 | 7,801 | 2,106 | ||||||
| Restricted cash and investments | 5,208 | 3,433 | 6,738 | 2,244 | 3,594 | ||||
| Receivables | 43,619 | 28,749 | 37,551 | 30,804 | 16,157 | ||||
| Inventory, net of allowances, customer advances and progress billings | 24,597 | 23,096 | 25,803 | 15,380 | 9,973 | ||||
| Inventory | 24,597 | 23,096 | 25,803 | 15,380 | 9,973 | ||||
| Prepaid expense | 289 | ||||||||
| Deferred costs | (885) | ||||||||
| Other current assets | 1,569 | 15 | 665 | 328 | |||||
| Other undisclosed current assets | 1,164 | 44,965 | 56,029 | 51,392 | 48,065 | 85 | |||
| Total current assets: | 99,791 | 125,908 | 139,305 | 107,643 | 80,240 | 729 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 2,126 | 2,627 | 81 | 4,035 | 3,863 | ✕ | |||
| Property, plant and equipment | 3,450 | 15,585 | 18,958 | 20,135 | 20,630 | ||||
| Long-term investments and receivables | 250 | 430 | |||||||
| Due from related parties | ✕ | ✕ | 430 | ||||||
| Long-term investments | 250 | ||||||||
| Intangible assets, net (including goodwill) | 190 | 147 | 4 | 4 | 9 | ||||
| Goodwill | 4 | 4 | 4 | ||||||
| Intangible assets, net (excluding goodwill) | 190 | 147 | 5 | ||||||
| Deposits noncurrent assets | 9,916 | ||||||||
| Asset, held-in-trust | 44,307 | ||||||||
| Deferred income tax assets | 257 | 514 | ✕ | ||||||
| Other noncurrent assets | 1,051 | 283 | 44 | 2 | 798 | ||||
| Other undisclosed noncurrent assets | 13,698 | 10,314 | 4,177 | 158 | |||||
| Total noncurrent assets: | 30,686 | 29,207 | 23,263 | 24,335 | 26,244 | 44,307 | |||
| TOTAL ASSETS: | 130,477 | 155,115 | 162,568 | 131,979 | 106,484 | 45,037 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities, including: | 25,934 | 24,817 | 29,172 | 22,005 | 31 | ||||
| Taxes payable | ✕ | ✕ | ✕ | 108 | |||||
| Accounts payable | 25,273 | 24,817 | 29,064 | 22,005 | |||||
| Accrued liabilities | 661 | ||||||||
| Other undisclosed accounts payable and accrued liabilities | 31 | ||||||||
| Deferred revenue | 227 | 388 | 366 | ✕ | |||||
| Debt | 39,755 | 37,259 | 8,959 | 19,285 | |||||
| Other liabilities | 1,547 | 1,198 | 2,212 | ||||||
| Due to related parties | ✕ | ✕ | 3,619 | 9,051 | |||||
| Other undisclosed current liabilities | 6,836 | 2,358 | 42,126 | 25,889 | 55,993 | ||||
| Total current liabilities: | 72,525 | 66,209 | 85,463 | 78,808 | 55,993 | 31 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation, including: | 1,530 | 1,813 | 2,261 | 166 | 3,528 | ||||
| Long-term debt, excluding current maturities | 1,530 | 1,813 | 2,213 | 166 | 1,350 | ||||
| Other undisclosed long-term debt and lease obligation | 2,179 | ||||||||
| Liabilities, other than long-term debt | 5,769 | 7,660 | |||||||
| Deferred revenue | ✕ | ||||||||
| Operating lease, liability | 1,685 | 2,176 | 48 | ✕ | |||||
| Derivative instruments and hedges, liabilities | 4,085 | 5,483 | |||||||
| Other undisclosed noncurrent liabilities | (48) | 2,343 | 55,993 | 979 | |||||
| Total noncurrent liabilities: | 7,299 | 9,472 | 2,261 | 2,509 | 59,522 | 979 | |||
| Other undisclosed liabilities | (55,993) | ||||||||
| Total liabilities: | 79,824 | 75,681 | 87,724 | 81,317 | 59,522 | 1,011 | |||
| Temporary equity, carrying amount | 39,026 | ||||||||
| Equity | |||||||||
| Equity, attributable to parent, including: | 50,080 | 65,712 | 62,285 | 44,890 | 38,596 | 5,000 | |||
| Common stock | 5,067 | ||||||||
| Additional paid in capital | 30,287 | 30,287 | 23,759 | 13,707 | 15,227 | ||||
| Accumulated other comprehensive income (loss) | (2,584) | (2,831) | 1,014 | (63) | (361) | ||||
| Retained earnings (accumulated deficit) | 18,535 | 34,414 | 33,669 | 26,728 | 19,864 | (67) | |||
| Warrants and rights outstanding | |||||||||
| Other undisclosed equity, attributable to parent | 3,842 | 3,842 | 3,842 | 4,517 | 3,867 | ||||
| Equity, attributable to noncontrolling interest | 573 | 13,723 | 12,560 | 5,772 | 8,366 | ||||
| Total equity: | 50,653 | 79,434 | 74,845 | 50,661 | 46,962 | 5,000 | |||
| TOTAL LIABILITIES AND EQUITY: | 130,477 | 155,115 | 162,568 | 131,979 | 106,484 | 45,037 | |||
Income Statement (P&L) ($ in thousands)
| 9/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 11/30/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 90,333 | 90,831 | 98,840 | 66,864 | 52,401 | |||
| Cost of revenue | (1,180) | (70,996) | (79,246) | (54,051) | (40,022) | |||
| Cost of goods and services sold | (65,757) | (91,190) | (98,840) | (66,864) | (52,401) | |||
| Other undisclosed gross profit | (64,577) | |||||||
| Gross profit: | 24,576 | 19,835 | 19,594 | 12,813 | 12,379 | |||
| Operating expenses | (13,797) | (13,876) | (11,344) | (6,105) | (5,775) | (373) | ||
| Operating income (loss): | 10,779 | 5,959 | 8,250 | 6,708 | 6,604 | (373) | ||
| Nonoperating income (expense) | (1,135) | 57 | 68 | 1,943 | 152 | |||
| Investment income, nonoperating | 143 | 57 | 68 | 3 | 152 | |||
| Gain (loss), foreign currency transaction, before tax | (2,491) | 1,941 | ||||||
| Other nonoperating income | 1,212 | |||||||
| Interest and debt expense | (250) | (403) | (587) | (931) | (1,289) | |||
| Income (loss) from continuing operations before equity method investments, income taxes: | 9,394 | 5,612 | 7,731 | 7,721 | 5,466 | (373) | ||
| Other undisclosed income (loss) from continuing operations before income taxes | (32,703) | (1,110) | 1,380 | 923 | 468 | |||
| Income (loss) from continuing operations before income taxes: | (23,309) | 4,502 | 9,111 | 8,645 | 5,935 | (373) | ||
| Income tax expense | (1,708) | (700) | (1,843) | (2,273) | (847) | |||
| Other undisclosed loss from continuing operations | (623) | |||||||
| Income (loss) from continuing operations: | (25,017) | 3,803 | 7,268 | 6,372 | 4,465 | (373) | ||
| Income (loss) before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | 7,268 | 6,372 | 4,465 | (373) | |
| Net income (loss): | (25,017) | 3,803 | 7,268 | 6,372 | 4,465 | (373) | ||
| Net income (loss) attributable to noncontrolling interest | 9,138 | (3,057) | (1,003) | 387 | (623) | |||
| Other undisclosed net income attributable to parent | 1,245 | 306 | ||||||
| Net income (loss) attributable to parent: | (15,879) | 746 | 6,266 | 6,759 | 5,087 | (67) | ||
| Preferred stock dividends and other adjustments | (271) | |||||||
| Other undisclosed net income available to common stockholders, basic | 1,003 | |||||||
| Net income (loss) available to common stockholders, diluted: | (15,879) | 746 | 7,268 | 6,759 | 5,087 | (338) | ||
Comprehensive Income ($ in thousands)
| 9/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 11/30/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | (25,017) | 3,803 | 7,268 | 6,372 | 4,465 | (373) | ||
| Other comprehensive income (loss) | 843 | (5,740) | ||||||
| Comprehensive income (loss): | (24,175) | (1,937) | 7,268 | 6,372 | 4,465 | (373) | ||
| Comprehensive income (loss), net of tax, attributable to noncontrolling interest | 8,543 | (1,163) | (1,402) | (253) | (468) | |||
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | 1,477 | 938 | (67) | |||||
| Comprehensive income (loss), net of tax, attributable to parent: | (15,631) | (3,100) | 7,343 | 7,057 | 3,930 | (373) | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.