How did GTEC's revenue and expenses shift in Q4 2024 compared to previous quarters?

Greenland Technologies Holding (GTEC) experienced a decline in revenue and an increase in expenses in Q4 2024 compared to the previous quarter, Q3 2024: 1. **Revenue Shift**: - GTEC's total revenue for Q4 2024 was $19.37 million. - This represents a quarter-over-quarter growth of 0.03%, which is an improvement from the previous quarter's decline of -0.18% in Q3 2024. - However, the revenue in Q4 2024 is significantly lower than the peak seen in Q2 2024, where revenue reached $23.02 million. |code|Ticker|Name|Date|Total Revenue YoY|Total Revenue|market_code| |---|---|---|---|---|---|---| |GTEC|GTEC.O|Greenland Technologies Holding|2023 Q4|19.040730414150467|2.277767E7|186| |GTEC|GTEC.O|Greenland Technologies Holding|2024 Q1|2.592539919889333|2.2723591E7|186| |GTEC|GTEC.O|Greenland Technologies Holding|2024 Q2|-2.3428167540106686|2.301726E7|186| |GTEC|GTEC.O|Greenland Technologies Holding|2024 Q3|-13.750519136056855|1.8834093E7|186| 2. **Expense Shift**: - Net income for Q4 2024 was -$30.61 million, indicating a substantial loss for the period. - This is a significant increase in net losses compared to the previous quarter, where the net income was $5.35 million in Q3 2024. - The net income in Q4 2024 also reflects a sharp decline from the previous quarter's net income of $5.87 million in Q3 2024. |code|Ticker|Name|Date|Net Income QoQ|Net Income|market_code| |---|---|---|---|---|---|---| |GTEC|GTEC.O|Greenland Technologies Holding|2023 Q4|-15807.446519193567|-3.0611143E7|186| |GTEC|GTEC.O|Greenland Technologies Holding|2024 Q1|111.65996317092765|3569248|186| |GTEC|GTEC.O|Greenland Technologies Holding|2024 Q2|64.54961941563042|5873184|186| |GTEC|GTEC.O|Greenland Technologies Holding|2024 Q3|-93.88248350468842|359293|186| The data suggests that GTEC faced significant challenges in Q4 2024, with a decline in revenue and a substantial increase in net losses compared to the previous quarter. This indicates that the company may have incurred increased expenses or faced operational challenges during this period.