Greenland Technologies Holding (GTEC) AI Stock Analysis

• Market Cap: $20.72M
• Dividend Yield: N/A
• Average Volume (3M): 146.57K
• Price to Earnings (P/E): 0.9
• Beta (1Y): 1.69
• Revenue Growth: -1.36%
• EPS Growth: N/A
• Country: US
• Employees: 345
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Industrial - Machinery
• EPS (TTM): 0.33
• Shares Outstanding: 22,477,556
• 10 Day Avg. Volume: 198,030
• 30 Day Avg. Volume: 146,575
• PEG Ratio: -0.01
• Price to Book (P/B): 0.44
• Price to Sales (P/S): 0.31
• P/FCF Ratio: 1.98
• Enterprise Value/Market Cap: 1.27
• Enterprise Value/Revenue: 0.31
• Enterprise Value/Gross Profit: 1.05
• Enterprise Value/Ebitda: 1.37
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 62 Neutral
• Price Target: $0.95 ▲(36.29% Upside)

The score is driven mainly by solid fundamentals with low leverage but pressured by weakening cash-flow trends and declining operating margins. Technicals are notably weak with the stock trading below all major moving averages, while valuation looks very inexpensive based on the low P/E. Corporate actions add both liquidity support and governance/dilution risk, keeping the overall score in the low 60s.

Positive Factors

Conservative leverage

A low debt-to-equity ratio of 0.27 indicates conservative financial leverage, giving the company durable balance-sheet flexibility. This reduces default risk, supports capital allocation for product development or working-capital needs, and helps absorb cyclical demand swings in industrial machinery.

Healthy gross margins

A 27.6% gross margin signals sustained manufacturing efficiency and pricing power in electric industrial vehicles. Higher gross margins provide a persistent buffer to fund R&D, service operations, and channel development, supporting competitive positioning over the medium term.

Recurring revenue mix & partnerships

A revenue model combining equipment sales with service/maintenance contracts and distributor partnerships creates recurring revenue and broader market access. This structural mix reduces reliance on one-off sales, smooths cash flow, and leverages partners to scale distribution over time.

Negative Factors

Weak cash generation

A 64.1% decline in free cash flow growth and an OCF-to-net-income ratio of 0.19 highlight persistent cash conversion weakness. This can constrain reinvestment, raise working-capital pressure in manufacturing, and limit the firm's ability to fund growth or withstand prolonged demand softness.

Softening profitability

Declines in EBIT/EBITDA margins and falling ROE (now 12.3%) suggest margin compression or operational inefficiencies. Over the medium term, this reduces returns on invested capital, limits internal funding for expansion, and may signal competitive or cost pressures in core operations.

Governance / shareholder engagement risk

Adjournment of the 2025 annual meeting due to only 6.56% quorum indicates weak shareholder participation and a governance overhang. Low engagement can delay key approvals, impede strategic decisions, and raise execution risk on board or proxy-driven initiatives over the coming months.

Greenland Technologies Holding Business Overview & Revenue Model

Company Description

Greenland Technologies Holding Corporation develops, manufactures, and sells drivetrain systems for material handling machineries and electric vehicles, and electric industrial vehicles. The company offers transmission products for forklift trucks that are used in manufacturing and logistic applications, such as factories, workshops, warehouses, fulfillment centers, shipyards, and seaports. It also develops robotic cargo carriers. The company was founded in 2006 and is based in East Windsor, New Jersey.

How the Company Makes Money

Greenland Technologies generates revenue through the sale of its electric vehicles and related products, targeting industries such as warehousing, logistics, and manufacturing. The company's revenue model is primarily based on direct sales of its electric forklifts and other industrial vehicles. Additionally, GTEC may engage in service contracts and maintenance agreements, which provide ongoing revenue streams. Strategic partnerships with distributors and manufacturers can also enhance sales opportunities, allowing GTEC to expand its market reach and leverage existing networks to drive growth and profitability.

Greenland Technologies Holding Financial Statement Overview

Summary

Profitability is solid (TTM gross margin 27.6%, net margin 9.4%) with positive revenue growth (5.6%) and low leverage (debt-to-equity 0.27). However, declining EBIT/EBITDA margins, lower ROE (12.3% and down YoY), and a sharp drop in free cash flow growth (-64.1%) temper the score.

Income Statement

Greenland Technologies Holding shows a solid gross profit margin of 27.6% in TTM, indicating efficient cost management. The net profit margin of 9.4% is healthy, though it has decreased from the previous year. Revenue growth is positive at 5.6%, recovering from a decline in prior years. However, EBIT and EBITDA margins have decreased compared to the previous year, suggesting potential operational challenges.

Balance Sheet

The company maintains a low debt-to-equity ratio of 0.27 in TTM, reflecting prudent financial leverage. Return on equity is 12.3%, which is reasonable but has decreased from the previous year, indicating reduced profitability. The equity ratio is stable, suggesting a balanced asset structure.

Cash Flow

Free cash flow growth has significantly declined by 64.1% in TTM, raising concerns about cash generation. The operating cash flow to net income ratio is 0.19, indicating moderate cash conversion efficiency. The free cash flow to net income ratio is strong at 1.07, showing effective cash management despite the decline in free cash flow.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	86.17M	83.94M	90.33M	90.83M	98.84M	66.86M
Gross Profit	25.13M	22.53M	24.58M	19.83M	19.59M	12.81M
EBITDA	19.21M	19.00M	-20.87M	7.34M	12.21M	12.01M
Net Income	14.11M	14.07M	-15.88M	745.55K	6.27M	6.76M
Balance Sheet
Total Assets	123.43M	115.58M	130.48M	155.12M	162.57M	131.98M
Cash, Cash Equivalents and Short-Term Investments	33.04M	25.19M	25.80M	24.10M	13.17M	7.16M
Total Debt	15.60M	21.35M	41.93M	41.60M	54.75M	53.13M
Total Liabilities	53.57M	62.31M	79.82M	75.68M	87.72M	81.32M
Stockholders Equity	75.42M	60.21M	50.08M	65.71M	62.28M	44.89M
Cash Flow
Free Cash Flow	12.04M	13.34M	2.45M	7.31M	-5.76M	1.61M
Operating Cash Flow	12.16M	13.34M	2.45M	7.31M	-5.76M	2.70M
Investing Cash Flow	-438.21K	-1.87M	1.07M	33.69K	-638.98K	-822.77K
Financing Cash Flow	-28.77M	-30.90M	2.87M	-4.28M	14.46M	2.31M

Greenland Technologies Holding Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.70
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GTEC, the sentiment is Negative. The current price of 0.7 is below the 20-day moving average (MA) of 0.92, below the 50-day MA of 0.96, and below the 200-day MA of 1.41, indicating a bearish trend. The MACD of -0.04 indicates Negative momentum. The RSI at 45.03 is Neutral, neither overbought nor oversold. The STOCH value of 63.31 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GTEC.

Greenland Technologies Holding Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BWEN	65 Neutral	$56.15M	11.11	8.20%	―	-1.47%	52.65%
GTEC	62 Neutral	$20.72M	0.91	21.29%	―	-1.36%	―
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
JCSE	59 Neutral	$4.26M	-3.86	―	8.18%	-23.37%	-264.09%
CVV	55 Neutral	$27.40M	-143.54	-0.73%	―	19.84%	95.71%
CETY	41 Neutral	$3.09M	-0.49	-82.18%	―	-57.40%	52.85%
BURU	35 Underperform	$48.30M	-0.08	―	―	-98.20%	93.77%

Greenland Technologies Holding Corporate Events

Greenland Technologies Adopts Dual-Class Structure After Fundraise

On January 29, 2026, Greenland Technologies Holding Corporation closed an underwritten public offering of 5,083,330 units at $1.20 per unit, each comprising one ordinary share and four-fifths of a warrant, raising gross proceeds of approximately $6.1 million to be used for working capital and general corporate purposes; the warrants, which are immediately exercisable and not exchange-listed, carry the same exercise price and a three-year term, underscoring the company’s effort to bolster liquidity while accepting potential future equity dilution. On January 30, 2026, the company reconvened its adjourned 2025 annual general meeting, where shareholders representing 45.73% of eligible votes approved a new memorandum and articles of association, a dual-class share structure with high-vote Class B shares assigned to Trendway Capital Limited, the reclassification of remaining shares into Class A, the election of two Class II directors, the ratification of Enrome LLP as auditor for 2025, and an adjournment authority for the chair, collectively reinforcing management’s control framework and governance structure as the company pursues its strategic and capital-raising plans.

The most recent analyst rating on (GTEC) stock is a Buy with a $0.99 price target. To see the full list of analyst forecasts on Greenland Technologies Holding stock, see the GTEC Stock Forecast page.

Greenland Technologies Adjourns 2025 Annual Shareholder Meeting

On December 29, 2025, Greenland Technologies Holding Corporation convened but immediately adjourned its 2025 annual general meeting of shareholders after only 6.56% of its 17,394,226 outstanding ordinary shares were represented, falling short of the quorum needed to conduct official business. The meeting was rescheduled as a virtual-only session for January 30, 2026, when shareholders are expected to vote on a slate of proposals outlined in the company’s previously filed definitive proxy statement, underscoring the importance of improved shareholder participation for the company’s governance processes and decision-making.

The most recent analyst rating on (GTEC) stock is a Hold with a $0.73 price target. To see the full list of analyst forecasts on Greenland Technologies Holding stock, see the GTEC Stock Forecast page.