Greenland Technologies Holding Corporation (GTEC) Financial Statements (2024 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)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments20,88521,37024,09623,55010,88410,920
Cash and cash equivalents15,23215,40116,29611,3073,2186,854
Short-term investments5,6535,9697,80112,2437,6664,067
Restricted cash and investments3,8164,8593,4333,7214,8206,331
Receivables31,36628,98028,74931,60733,02033,525
Inventory, net of allowances, customer advances and progress billings20,21722,50323,09621,88523,94824,963
Inventory20,21722,50323,09621,88523,94824,963
Prepaid expense1,069     
Other current assets 3756121,569968981
Other undisclosed current assets55,58456,84051,42054,48356,55265,139
Total current assets:133,313135,163132,364135,342129,313140,959
Noncurrent Assets
Operating lease, right-of-use asset2,3792,5042,6272,7496472
Property, plant and equipment14,13215,16615,58515,50417,00218,554
Long-term investments and receivables300300250   
Long-term investments300300250   
Intangible assets, net (including goodwill)121133147161344
Goodwill    444
Intangible assets, net (excluding goodwill)12113314715730 
Other noncurrent assets2562552832434443
Other undisclosed noncurrent assets3,6963,9043,8583,6773,9284,709
Total noncurrent assets:20,88522,26222,75122,33321,07323,382
TOTAL ASSETS:154,197157,426155,115157,675150,386164,341
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities24,98428,42224,81723,95525,84432,544
Employee-related liabilities143
Accounts payable24,98428,42224,81723,95525,84432,258
Accrued liabilities      143
Deferred revenue 21822,149227196272443
Debt35,4308,20037,25942,43242,8349,795
Due to related parties1,6931,5941,5982,022
Other liabilities2,4342,0011,5471,6221,2762,308
Other undisclosed current liabilities2,2235,1306654623436,820
Total current liabilities:65,28865,90266,20970,26271,85883,932
Noncurrent Liabilities
Long-term debt and lease obligation1,6411,7811,8134,1222,0132,199
Long-term debt, excluding current maturities1,6411,7811,8131,8281,9832,160
Liabilities, other than long-term debt1,9292,0492,176   
Operating lease, liability1,9292,0492,1762,2943039
Other undisclosed noncurrent liabilities    (2,294)(30)(39)
Total noncurrent liabilities:3,5703,8303,9894,1222,0132,199
Total liabilities:68,85869,73270,19874,38473,87186,131
Equity
Equity, attributable to parent, including:72,06872,85471,19570,58763,16464,397
Additional paid in capital32,95632,95632,95632,95623,83623,836
Accumulated other comprehensive income (loss)(5,804)(2,619)(2,831)(4,432)(1,458)1,262
Retained earnings41,07438,67537,22838,22136,94335,456
Other undisclosed equity, attributable to parent3,8423,8423,8423,8423,8423,842
Equity, attributable to noncontrolling interest13,27114,83913,72312,70413,35013,813
Total equity:85,33987,69484,91883,29176,51478,210
TOTAL LIABILITIES AND EQUITY:154,197157,426155,115157,675150,386164,341

Income Statement (P&L) ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Revenues23,56922,14919,13421,78720,60329,307
Cost of revenue(16,642)(16,626)(15,319)(16,975)(15,763)(22,939)
Cost of goods and services sold(23,569)(22,209)(19,494)(21,787)(20,603)(29,307)
Gross profit:6,9285,5233,8154,8124,8396,368
Operating expenses(3,519)(3,149)(5,511)(2,738)(2,625)(3,002)
Operating income (loss):3,4092,374(1,696)2,0752,2143,366
Nonoperating income (expense)(84)30(1,397)6691013
Investment income, nonoperating4530 131013
Other nonoperating income (expense)(129)  656  
Interest and debt expense(80)(66)(80)(126)(92)(105)
Income (loss) from continuing operations before equity method investments, income taxes:3,2452,338(3,173)2,6172,1323,274
Other undisclosed income (loss) from continuing operations before income taxes(0)4171,705(0)502261
Income (loss) from continuing operations before income taxes:3,2452,755(1,469)2,6172,6343,534
Income tax expense (benefit)(305)(297)693(519)(254)(619)
Income (loss) from continuing operations:2,9402,459(776)2,0982,3792,915
Income before gain (loss) on sale of properties:2,0982,3792,915
Net income (loss):2,9402,459(776)2,0982,3792,915
Net loss attributable to noncontrolling interest(541)(1,012)(217)(820)(892)(1,128)
Net income (loss) attributable to parent:2,3991,447(993)1,2781,4871,787
Other undisclosed net income available to common stockholders, basic      1,128
Net income (loss) available to common stockholders, diluted:2,3991,447(993)1,2781,4872,915

Comprehensive Income ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Net income (loss):2,9402,459(776)2,0982,3792,915
Other comprehensive income (loss)(4,591)3172,514(4,552)(4,075)374
Comprehensive income (loss):(1,651)2,7761,738(2,454)(1,696)3,289
Comprehensive income (loss), net of tax, attributable to noncontrolling interest865(1,117)(1,130)757463(1,254)
Comprehensive income (loss), net of tax, attributable to parent:(786)1,659608(1,697)(1,233)2,035

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.

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