Greenland Technologies Holding Corporation (GTEC) regained compliance with Nasdaq’s Minimum Bid Price Requirement for its Class A ordinary shares. Nasdaq said the closing bid price was at least $1.00 per share for 10 consecutive business days from September 8 through September 21, 2026, and the matter is closed.
The company had received an additional compliance period through March 8, 2027, after its initial period ended September 8, 2026. It had told Nasdaq it intended to address the deficiency by effecting a reverse stock split if necessary.
Greenland Technologies Holding Corp. (GTEC) reports that Nasdaq has granted an additional 180-day “Second Compliance Period,” until March 8, 2027, to regain compliance with the $1.00 minimum bid price requirement for its Class A ordinary shares. The extension follows an earlier 180-day period that ended September 8, 2026, after the shares traded below $1.00 for 30 consecutive business days. There is no immediate impact on the Nasdaq listing, but if the company does not achieve a closing bid of at least $1.00 for the required consecutive trading days by the new deadline, its shares will be subject to delisting, with only an appeal process available. The company states it will monitor its share price and may consider actions such as a reverse stock split to cure the deficiency.
Greenland Technologies Holding Corporation reported sharply improved results for the quarter and six months ended June 30, 2026. Second-quarter revenue was $29.9 million, up 37.6% year over year, driven mainly by a 24.1% increase in transmission product volume to 53,243 sets. Revenue from transmission boxes for forklifts reached $29.1 million, with non-forklift transmission revenue at $0.7 million. Gross profit rose to $9.5 million, with gross margin expanding to 31.9% from 26.5%.
Total operating expenses fell 55.9% to $3.6 million, largely due to a steep decline in general and administrative expenses tied to lower stock-based compensation, despite higher selling and R&D spending. The company moved to profitability with $4.9 million in Q2 net income versus a prior-year net loss of $2.8 million, and basic and diluted EPS of $0.13 versus a loss of $0.20.
For the first half of 2026, revenue grew 27.7% to $55.4 million, gross margin expanded to 33.0%, and net income rose to $10.7 million. Cash and cash equivalents were $9.0 million and total shareholders’ equity was $82.9 million as of June 30, 2026.
Greenland Technologies Holding Corporation reported significantly improved results for the six months ended June 30, 2026. Revenue reached $55.4 million, up from $43.4 million a year earlier, driven mainly by transmission boxes for forklifts, while net income rose to $10.7 million from $1.8 million. Net income attributable to the company was $8.5 million, with basic and diluted EPS of $0.35 versus $0.05.
Total assets increased to $147.5 million from $115.8 million, including $30.5 million of accounts receivable, $24.6 million of inventories and $23.3 million of short-term investments. Total liabilities were $64.6 million and total shareholders’ equity was $82.9 million. Operating cash flow was modest at $0.09 million, as higher receivables and notes receivable absorbed cash, while investing outflows of $10.6 million were more than offset by $11.7 million of financing inflows, including $5.6 million of equity and debt financing and increased notes payable.
The company sold 99,270 transmission product sets in the first half of 2026 versus 81,642 a year earlier. HEVI Corp.’s electric industrial vehicle operations remain substantially suspended due to tariff-policy uncertainty. One major customer represented about 13.97% of revenue and 14.64% of accounts receivable, indicating some customer concentration.
Greenland Technologies Holding Corporation reported stronger first-quarter 2026 results. Revenue rose to $25,538,345 from $21,677,564, driven mainly by transmission boxes for forklifts, with unit sales increasing to 46,027 sets from 38,734.
Net income increased to $5,748,431 from $4,562,836, while income from operations improved to $5,719,601. Despite the higher profit, cash flow from operating activities was a modest outflow of $1,186,337, reflecting working capital swings.
The balance sheet expanded, with total assets of $136,552,848 and shareholders’ equity of $78,467,936 as of March 31, 2026. The company raised $5,584,996 from equity and debt financing and now has a dual-class share structure under which Trendway Capital Limited controls about 88.0% of total voting power.
Greenland Technologies Holding Corporation filed a shelf registration to offer up to $200,000,000 of Class A ordinary shares, preferred shares, debt securities, warrants, rights and units from time to time after this Registration Statement becomes effective. The prospectus permits multiple distribution methods and will be supplemented by prospectus supplements describing specific terms.
The company discloses that its Class A ordinary shares trade on Nasdaq under the symbol GTEC, and cites China-related regulatory and operational risks affecting its PRC subsidiaries, including filing obligations with the CSRC and potential delisting risks under the HFCA Act. The prospectus also states HEVI’s operations were substantially suspended in 2025 and that an intercompany loan of $3,429,574 to Zhongchai Holding existed as of September 30, 2025.
Greenland Technologies Holding Corporation files its annual report describing a diversified business built around transmission systems and integrated powertrains for forklift trucks in China, plus electric industrial equipment under the HEVI brand in the U.S. HEVI has suspended most operations since 2025 because of tariff policy uncertainty, but plans to resume when conditions stabilize.
The report highlights a concentrated, China-based manufacturing footprint, exposure to steel price volatility, and customer concentration, with the top five customers providing over 40% of revenue in 2025. It also explains a January 2026 equity raise of about $6.1 million and a new dual-class share structure that leaves the chairman holding 88.76% of voting power.
Extensive risk disclosures focus on PRC legal, regulatory, currency and data-security regimes, potential impacts of evolving overseas listing rules and the HFCA Act, and restrictions on cash movements and dividends from PRC subsidiaries, underscoring structural and geopolitical risks around the stock.
Greenland Technologies Holding Corporation reported that Nasdaq has notified the company its Class A ordinary shares no longer meet the minimum bid price requirement for continued listing on the Nasdaq Capital Market. The closing bid price has stayed below US$1.00 per share for 30 consecutive business days, triggering a deficiency notice rather than an immediate delisting.
The company has until September 8, 2026 to regain compliance by achieving a closing bid of at least US$1.00 for a minimum of 10 consecutive business days, with the possibility of an additional 180-day period if other listing criteria are satisfied. Greenland’s shares remain listed during this time, and the company states that its business operations are not affected by the notice. Management plans to monitor the share price and may consider options such as a share consolidation to restore compliance, while acknowledging there is no assurance that compliance will be regained.
Greenland Technologies Holding Corporation closed an underwritten public offering of 5,083,330 units at $1.20 per unit, generating gross proceeds of approximately $6.1 million. Each unit includes one ordinary share and four-fifths of a warrant, with each whole warrant exercisable for one ordinary share at $1.20, or via zero-price exercise, for three years.
The company plans to use net proceeds for working capital and general corporate purposes. Separately, at its reconvened 2025 annual general meeting, shareholders representing 7,956,116 votes, or 45.73% of 17,394,226 votes exercisable as of December 8, 2025, approved all proposals, including a new memorandum and articles adoption, share capital reorganization, share re-classification, election of two directors, auditor ratification, and an adjournment proposal, each with over 95% of votes cast in favor.