Greenland Technologies Returns to Profitability in Second Quarter

The Hangzhou-based company reported quarterly revenue of $29.9 million, bolstered by a 24.1% increase in sales volume, totaling 53,243 transmission sets. This growth helped push the gross margin to 31.9%, up from 26.5% a year prior. Chief Executive Officer Raymond Z. Wang attributed the performance to both higher volumes and a strategic shift toward more sophisticated, higher-value hydraulic transmission products.

Operating expenses saw a significant reduction, falling 55.9% to $3.56 million, primarily driven by a decrease in stock-based compensation costs. This efficiency, combined with robust sales, resulted in an operating income of $6.0 million, a stark contrast to the $2.3 million operating loss recorded in the second quarter of 2025. For the first half of the year, the company achieved a net income of $10.7 million, yielding earnings per share of $0.35 compared to $0.05 in the prior year.