Greenland Technologies Holding Corporation (GTEC) shares soared in pre-market trading after exceeding second-quarter earnings expectations. Other notable movers include Cingulate Inc. (CING), Seelos Therapeutics (SEEL), and Shimmick Corporation (SHIM).
Greenland Technologies Holding Corporation (GTEC) announced strong second-quarter and first-half 2024 financial results, highlighting a near 100% surge in net income compared to the previous year. This growth was attributed to the company’s strategic focus on higher-margin opportunities and its expansion of its partner ecosystem to facilitate electric industrial vehicle purchases. Notably, Greenland has also terminated its previously announced plan to spin off its drivetrain systems segment due to evolving market conditions.
