Greenland Technologies Holding Corporation (NASDAQ:GTEC) Q2 2022 Earnings Conference Call August 12, 2022 8:00 AM ET

Company Participants

Julia Qian - Managing Director, Blueshirt Group Asia

Raymond Wang - Chief Executive Officer

Jing Jin - Chief Financial Officer

Conference Call Participants

Operator

Thank you for standing by. And welcome to the Greenland Technologies Holding Corporation reports Second Quarter and First Half 2022 Unaudited Financial Results Conference Call. All participants are in a listen-only mode. There will be a presentation followed by a question-and-answer session. [Operator Instructions]

I would now like to turn the conference over to Julia Qian. Please go ahead.

Julia Qian

Thank you, operator, and hello, everyone. Welcome to Greenland Technologies second quarter and the first half 2022 earnings conference call. Joining us today are Mr. Raymond Wang, Chief Executive Officer and Mr. Jing Jin, Chief Financial Officer. We've released the results early today. The press release is available on the company's IR website at ir.gtec-tech.com, as well as on Newswire Services. A replay of this call will be also be available in a few hours on our IR website.

Before we continue, please note that today's discussion will contain forward-looking statements made under Safe Harbor provision of the US Private Securities Litigation Reform Act of 1995. Forward-looking statements involve inherent risks and uncertainties. As such, the company's actual result may be materially different from the expectations expressed today.

Further information regarding these and other risks and uncertainties is included in the company's corporate filings with the SEC. The company does not assume any obligation to update any forward-looking statements, except as required under applicable law. Also please note unless otherwise state, all the figures mentioned during this conference call are in US dollars.

With that, let me now turn the call over to our CEO, Mr. Raymond Wang. Please go ahead, Mr. Wang.

Raymond Wang

Thank you, Julia. Good morning, everyone, and thank you for joining us today. We have a lot to talk about during this call. But before I jump into it, I just want to start by thanking my team for their hard work and dedication to our mission at Greenland Technologies to continue to deliver the best quality products and develop innovative solutions for our clients, shareholders and local communities.

Now Q2 has been a challenging quarter for the company with $20.6 million in revenue generated, representing the first quarter where we did not produce positive year-over-year growth since we became a publicly listed company on the NASDAQ in 2019. This decline is primarily attributed to the reinstated COVID restrictions and shutdowns in China that lasted in some cities for over a month.