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Form 8-K

sec.gov

8-K — Greenland Technologies Holding Corp.

Accession: 0001213900-26-089496

Filed: 2026-08-14

Period: 2026-08-14

CIK: 0001735041

SIC: 3560 (GENERAL INDUSTRIAL MACHINERY & EQUIPMENT)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — ea0302059-8k_greenland.htm (Primary)

EX-99.1 — PRESS RELEASE - GREENLAND TECHNOLOGIES REPORTS STRONG SECOND QUARTER AND FIRST HALF 2026 FINANCIAL RESULTS (ea030205901ex99-1.htm)

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities

Exchange Act of 1934

Date of Report (Date of earliest event reported):

August 14, 2026

GREENLAND TECHNOLOGIES HOLDING CORPORATION

(Exact name of registrant as specified in its charter)

British Virgin Islands

001-38605

N/A

(State or other jurisdiction

of incorporation)

(Commission File Number)

(IRS Employer

Identification No.)

10-F, Building #12, Sunking Plaza, Gaojiao Road

Hangzhou, Zhejiang

People’s Republic of China

311122

(Address of principal executive offices)

(Zip Code)

Registrant’s telephone number including area

code: 1 (888) 827-4832

N/A

(Former name or former address, if changed since

last report)

Check the appropriate box below if the Form 8-K

filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written

communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting

material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement

communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement

communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant

is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b–2

of the Securities Exchange Act of 1934 (§ 240.12b–2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check

mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting

standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Class A ordinary shares, no par value

GTEC

The Nasdaq Stock Market LLC

Item 2.02. Results of Operations and Financial

Condition.

On August 14, 2026, the Company issued a press

release announcing its financial results for the quarter ended June 30, 2026. The full text of the press release is furnished as Exhibit

99.1 to this report.

The information in Exhibit 99.1 shall not be deemed

“filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or

otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities

Act of 1933, as amended (the “Securities Act”), or the Exchange Act, except as expressly set forth by specific reference in

such filing.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits. The following exhibits are included

in this report:

No.

Description

99.1

Press Release – Greenland Technologies Reports Strong Second Quarter and First Half 2026 Financial Results

104

Cover Page Interactive Data File (formatted in iXBRL)

1

SIGNATURE

Pursuant to the requirements of the Securities

Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Greenland Technologies Holding Corporation

Dated: August 14, 2026

By:

/s/ Raymond Z. Wang

Name:

Raymond Z. Wang

Title:

Chief Executive Officer

2

EX-99.1 — PRESS RELEASE - GREENLAND TECHNOLOGIES REPORTS STRONG SECOND QUARTER AND FIRST HALF 2026 FINANCIAL RESULTS

EX-99.1

Filename: ea030205901ex99-1.htm · Sequence: 2

Exhibit 99.1

Greenland

Technologies Reports Strong Second Quarter and First Half 2026 Financial Results

Q2 Revenue Increased 37.6% Year Over Year

to $29.9 Million

Q2 Gross Profit Increased 65.9% to $9.5 Million;

Gross Margin Expanded to 31.9%

Q2 Net Income Reached $4.9 Million, Compared

with a Net Loss of $2.8 Million in the Prior-Year Period

First Half Revenue Increased 27.7% to $55.4

Million; Net Income Reached $10.7 Million

HANGZHOU, China, August 14, 2026 /PRNewswire/

-- Greenland Technologies Holding Corporation (Nasdaq: GTEC) (“Greenland” or the “Company”), a developer and manufacturer

of drivetrain systems for material handling machinery and electric vehicles, as well as electric industrial vehicles, today announced

its unaudited financial results for the second quarter and six months ended June 30, 2026.

Second Quarter 2026 Financial Highlights

● Revenue increased 37.6% to $29.9 million, compared with $21.7

million in the second quarter of 2025.

● Sales volume increased 24.1% to 53,243 sets of transmission

products, compared with 42,908 sets in the prior-year period.

● Gross profit increased 65.9% to $9.5 million; gross margin

expanded to 31.9% from 26.5%.

● Income from operations was $6.0 million, compared with an

operating loss of $2.3 million in the prior-year period.

● Net income was $4.9 million, compared with a net loss of

$2.8 million in the prior-year period.

● Net income attributable to Greenland Technologies Holding

Corporation and subsidiaries was $3.5 million, compared with a net loss attributable to the Company of $3.2 million in the prior-year

period.

● Basic and diluted earnings per share were $0.13, compared

with a loss per share of $0.20 in the prior-year period.

Raymond Z. Wang, Chief Executive Officer of

Greenland Technologies, commented, “We delivered strong second-quarter results, with revenue growth, higher sales volume, meaningful

gross margin expansion and a return to profitability compared with the prior-year period. The increase in gross profit reflected higher

sales volume and a favorable shift in product mix toward higher-value and more sophisticated products, including hydraulic transmission

products.”

“During the first half of 2026, we sold

99,270 sets of transmission products, up 21.6% year over year, while gross margin expanded to 33.0%. We remain focused on product development,

serving our customers and strengthening our position in the material handling industry.”

Second Quarter 2026 Financial Results

Revenue was $29.88 million for the three

months ended June 30, 2026, an increase of $8.16 million, or 37.6%, from $21.72 million in the prior-year period. The increase was primarily

attributable to higher sales volume of transmission products. The Company sold 53,243 sets of transmission products during the quarter,

compared with 42,908 sets in the second quarter of 2025, an increase of 24.1%.

Revenue from transmission boxes for forklifts

was $29.14 million, compared with $21.02 million in the prior-year period. Revenue from transmission boxes for non-forklift applications

was $0.74 million, compared with $0.70 million.

Cost of goods sold was $20.34 million,

an increase of 27.3% from $15.97 million in the prior-year period, primarily attributable to increased sales volume.

Gross profit was $9.54 million, an increase

of 65.9% from $5.75 million. Gross margin was 31.9%, compared with 26.5%. The increase in gross profit was primarily attributable to increased

sales volume and a shift in product mix toward higher-value and more sophisticated products, such as hydraulic transmission products.

Total operating expenses decreased 55.9%

to $3.56 million from $8.07 million. Selling expenses increased to $1.67 million from $1.00 million, primarily due to higher after-sales

service fees. General and administrative expenses decreased 87.4% to $0.84 million from $6.63 million, primarily due to lower stock-based

compensation expense. Research and development expenses increased 135.9% to $1.05 million from $0.44 million, primarily due to increased

R&D activities.

Income from operations was $5.98 million,

compared with an operating loss of $2.32 million in the prior-year period.

Net income was $4.94 million, compared

with a net loss of $2.76 million. Net income attributable to Greenland Technologies Holding Corporation and subsidiaries was $3.50 million,

compared with a net loss attributable to the Company of $3.23 million.

Basic and diluted earnings per share were $0.13,

compared with a basic and diluted loss per share of $0.20 in the prior-year period.

First Half 2026 Financial Results

Revenue increased 27.7% to $55.42 million

from $43.40 million for the six months ended June 30, 2025. The Company sold 99,270 sets of transmission products, compared with 81,642

sets in the prior-year period, an increase of 21.6%.

Revenue from transmission boxes for forklifts

was $54.06 million, compared with $41.95 million in the prior-year period. Revenue from transmission boxes for non-forklift applications

was $1.36 million, compared with $1.45 million.

Gross profit increased 47.4% to $18.30

million from $12.41 million. Gross margin expanded to 33.0% from 28.6%, primarily due to increased sales volume and a shift in product

mix toward higher-value and more sophisticated products, such as hydraulic transmission products.

Total operating expenses decreased to $6.60

million from $9.93 million. Research and development expenses increased to $1.83 million from $0.53 million.

Income from operations increased to $11.70

million from $2.49 million.

Net income increased to $10.69 million

from $1.80 million. Net income attributable to Greenland Technologies Holding Corporation and subsidiaries increased to $8.50 million

from $0.78 million.

Basic and diluted earnings per share were $0.35,

compared with $0.05 in the prior-year period.

Balance Sheet and Cash Flow

As of June 30, 2026, cash and cash equivalents

were $8.98 million, compared with $7.78 million as of December 31, 2025.

Total assets were $147.53 million as of June 30,

2026, compared with $115.77 million as of December 31, 2025. Total shareholders’ equity was $82.89 million, compared with $66.32

million at year-end 2025.

For the six months ended June 30, 2026, net cash

provided by operating activities was $0.09 million, compared with net cash used in operating activities of $0.46 million in the prior-year

period. Net cash used in investing activities was $10.64 million, and net cash provided by financing activities was $11.66 million.

About Greenland Technologies Holding Corporation

Greenland Technologies

Holding Corporation (Nasdaq: GTEC) designs, develops, manufactures and sells components and products for the global material handling

industries. Through its subsidiaries in the People’s Republic of China, Greenland offers transmission products that are key components

for forklift trucks used in manufacturing and logistics applications. Greenland also formed HEVI Corp. (“HEVI”), a wholly

owned subsidiary incorporated in the State of Delaware, focused on electric industrial vehicles for the North American market; however,

substantially all of HEVI’s business operations have been suspended since 2025 due to uncertainty regarding tariff policy. For more

information, please visit the Company’s website at https://ir.gtec-tech.com.

Safe Harbor Statement

This press release contains statements that

may constitute “forward-looking statements.” Such statements reflect Greenland’s current views with

respect to future events and are subject to such risks and uncertainties, many of which are beyond the control of Greenland,

including those set forth in the Risk Factors section of Greenland’s Annual Report on Form 10-K filed with the U.S.

Securities and Exchange Commission (“SEC”). Copies are available on the SEC’s website, www.sec.gov. Words

such as “expect,” “estimate,” “project,” “budget,” “forecast,”

“anticipate,” “intend,” “plan,” “may,” “will,” “could,”

“should,” “believes,” “predicts,” “potential,” “continue,” and similar

expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation,

Greenland’s expectations with respect to the success of Greenland’s business execution, ability to unlock

shareholder value or its ability to grow its business as an integrated company. Should one or more of these risks or uncertainties

materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially

from those described herein as intended, planned, anticipated or expected. Statements contained in this news release regarding past

trends or activities should not be taken as a representation that such trends or activities will continue in the

future. Greenland does not intend and does not assume any obligation to update these forward-looking statements, other

than as required by law.

2

GREENLAND TECHNOLOGIES HOLDING CORPORATION AND

SUBSIDIARIES

UNAUDITED CONSOLIDATED BALANCE SHEETS

AS OF JUNE 30, 2026 AND DECEMBER 31, 2025

(Amounts in U.S. dollars, except share and per

share data)

June 30,

December 31,

2026

2025

ASSETS

Current assets

Cash and cash equivalents

$ 8,980,604

$ 7,775,330

Restricted cash

-

71,540

Short term investment

23,330,932

24,454,701

Notes receivable

22,146,768

14,704,079

Accounts receivable, net

30,472,900

17,256,479

Inventories, net

24,623,617

24,377,036

Due from related parties-current

511,400

1,106,417

Advance to suppliers

91,112

80,757

Fixed deposit-current

3,099,212

2,966,386

Prepayments and other current assets

12,542,769

2,472,387

Total Current Assets

$ 125,799,314

$ 95,265,112

Non-current asset

Property, plant and equipment, net

12,636,194

11,889,147

Land use rights, net

3,381,779

3,325,188

Intangible assets

37,955

68,691

Deferred tax assets

460,304

446,613

Fixed deposit-non current

4,602,744

4,421,828

Other non-current assets

607,978

355,762

Total non-current assets

$ 21,726,954

$ 20,507,229

TOTAL ASSETS

$ 147,526,268

$ 115,772,341

Current Liabilities

Notes payable-bank acceptance notes

$ 20,263,519

$ 12,759,720

Accounts payable

35,032,772

25,604,917

Taxes payables

532,521

1,622,509

Contract liabilities

96,926

93,698

Due to related parties

5,371,788

5,275,011

Other current liabilities

2,440,568

2,941,871

Total current liabilities

$ 63,738,094

$ 48,297,726

Non-current liabilities

Deferred revenue

875,108

1,083,784

Warrant liability

18,900

70,910

Total non-current liabilities

$ 894,008

$ 1,154,694

TOTAL LIABILITIES

$ 64,632,102

$ 49,452,420

COMMITMENTS AND CONTINGENCIES

-

-

Shareholders’ equity

Ordinary shares, no par value, unlimited shares authorized; nil  and 17,394,226 shares issued and outstanding as of June 30, 2026 and December 31, 2025.

-

-

Class A Ordinary Shares, no par value, unlimited shares authorized; 20,532,482  and nil shares issued and outstanding as of June 30, 2026 and December 31, 2025.

-

-

Class B Ordinary Shares, no par value, unlimited shares authorized; 6,011,740  and nil shares issued and outstanding as of June 30, 2026 and December 31, 2025.

-

-

Additional paid-in capital

38,602,913

33,017,917

Statutory reserves

3,842,331

3,842,331

Retained earnings

46,037,583

37,533,648

Accumulated other comprehensive income (loss)

248,450

(1,452,410 )

Total shareholders’ equity attributed to Greenland Technologies Holding Corporation and subsidiaries

$ 88,731,277

$ 72,941,486

Non-controlling interest

(5,837,111 )

(6,621,565 )

TOTAL SHAREHOLDERS’ EQUITY

$ 82,894,166

$ 66,319,921

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY

$ 147,526,268

$ 115,772,341

3

GREENLAND TECHNOLOGIES HOLDING CORPORATION AND

SUBSIDIARIES

UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS

AND COMPREHENSIVE INCOME(LOSS)

FOR THE THREE AND SIX MONTHS ENDED JUNE 30,

2026 AND 2025

(Amounts in U.S. dollars, except share and per

share data)

For the three months ended

June 30,

For the six months ended

June 30,

2026

2025

2026

2025

Revenues

$ 29,877,328

$ 21,719,786

$ 55,415,673

$ 43,397,350

Cost of goods sold

20,335,719

15,969,005

37,114,802

30,985,619

Gross profit

9,541,609

5,750,781

18,300,871

12,411,731

Selling expenses

1,674,395

1,003,766

2,093,409

1,335,575

General and administrative expenses

837,194

6,626,542

2,679,622

8,065,530

Research and development expenses

1,046,955

443,720

1,825,174

525,177

Total operating expenses

$ 3,558,544

$ 8,074,028

$ 6,598,205

$ 9,926,282

INCOME (LOSS) FROM OPERATIONS

$ 5,983,065

$ (2,323,247 )

$ 11,702,666

$ 2,485,449

Interest income

23,109

170,917

396,433

311,957

Interest expense

(10,453 )

-

(43,833 )

-

Change in fair value of the warrant liability

104,937

81,739

52,010

291,033

Other income

79,979

159,739

825,687

441,820

INCOME (LOSS) BEFORE INCOME TAX

$ 6,180,637

$ (1,910,852 )

$ 12,932,963

$ 3,530,259

INCOME TAX EXPENSE

1,237,631

848,920

2,241,526

1,727,195

NET INCOME (LOSS)

$ 4,943,006

$ (2,759,772 )

$ 10,691,437

$ 1,803,064

LESS: NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTEREST

1,439,551

465,496

2,187,502

1,024,549

NET INCOME (LOSS) ATTRIBUTABLE TO GREENLAND TECHNOLOGIES HOLDING CORPORATION AND SUBSIDIARIES

$ 3,503,455

$ (3,225,268 )

$ 8,503,935

$ 778,515

OTHER COMPREHENSIVE INCOME:

1,086,162

940,906

1,900,750

1,389,002

Unrealized foreign currency translation income attributable to Greenland Technologies Holding Corporation and subsidiaries

975,752

853,622

1,700,860

1,265,758

Unrealized foreign currency translation income attributable to non-controlling interest

110,410

87,284

199,890

123,244

Total comprehensive income (loss) attributable to Greenland technologies holding corporation and subsidiaries

4,479,207

(2,371,646 )

10,204,795

2,044,273

Total comprehensive income attributable to noncontrolling interest

1,549,961

552,780

2,387,392

1,147,793

WEIGHTED AVERAGE ORDINARY SHARES OUTSTANDING:

26,544,222

16,099,824

24,162,323

14,875,091

Basic and diluted

0.13

(0.20 )

0.35

0.05

Investor Relations Contact

Greenland Technologies Holding Corporation

Investor Relations

4

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Period Type:

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

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-Name Exchange Act

-Number 240

-Section 13e

-Subsection 4c

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Period Type:

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14d

-Subsection 2b

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Namespace Prefix:

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Balance Type:

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- Definition

Title of a 12(b) registered security.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b

+ Details

Name:

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Namespace Prefix:

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Data Type:

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Balance Type:

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Period Type:

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- Definition

Name of the Exchange on which a security is registered.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

+ Details

Name:

dei_SecurityExchangeName

Namespace Prefix:

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Data Type:

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Balance Type:

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Period Type:

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14a

-Subsection 12

+ Details

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Namespace Prefix:

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- Definition

Trading symbol of an instrument as listed on an exchange.

+ References

No definition available.

+ Details

Name:

dei_TradingSymbol

Namespace Prefix:

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Data Type:

dei:tradingSymbolItemType

Balance Type:

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Period Type:

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

+ Details

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