Greenland Tech Q2 revenue up 70% to $28.2M, net income up 114% to $3.2M, raises FY guidance

Greenland Technologies Holding Corp.

2022-Q2 EPS reported $0.46 revenue$52,815,201

Q2 2021 revenue $28.2M, up 70.1% YoY; net income $3.2M, up 114.2% YoY.
EPS $0.26 per diluted share, up 100% from $0.13 in Q2 2020.
Full-year 2021 revenue guidance raised to $90M-$100M from prior $80M-$90M.
Transmission products sold 42,046 units, up 43.6% YoY; gross margin improved 280 bps to 20.2%.
Launched GEF-series lithium forklifts; deliveries start Sept 2021; strategic partnership with Shandong Zhongcha.

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