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MTEN

Mingteng International Corporation Inc.

MTEN

Mingteng International Corporation Inc. • NASDAQ
$1.49 ▼ -7.52% (-0.12)
Market Cap $10.19 M
52w High $26.03
52w Low $1.40
Dividend Yield 0%
P/E -1.33
Volume 59.00K
Outstanding Shares 6.84M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q4-2024 $5.474M ▲ $6.254M ▲ $-5.414M ▼ -98.904% ▼ $-0.86 ▼ $-4.566M ▼
Q2-2024 $4.646M ▲ $1.927M ▲ $-169.763K ▼ -3.654% ▼ $-0.031 ▼ $77.477K ▼
Q4-2023 $4.522M ▲ $623.852K ▼ $944.374K ▲ 20.885% ▲ $0.189 ▲ $1.269M ▲
Q2-2023 $3.637M ▼ $870.736K ▲ $562.328K ▼ 15.463% ▼ $0.112 ▼ $878.566K ▼
Q4-2022 $4.055M $748.914K $1.145M 28.245% $0.22 $1.478M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q4-2024 $2.081M ▲ $13.962M ▲ $5.508M ▲ $8.454M ▼
Q2-2024 $1.381M ▲ $13.86M ▲ $4.377M ▲ $9.483M ▲
Q4-2023 $1.056M ▼ $10.713M ▲ $3.267M ▼ $7.447M ▲
Q2-2023 $1.59M ▼ $10.23M ▲ $3.838M ▼ $6.392M ▲
Q4-2022 $1.793M $10.069M $3.995M $6.074M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q4-2024 $-5.413M ▼ $478.793K ▲ $-2.558M ▼ $3M ▲ $1.024M ▲ $-331K ▲
Q2-2024 $-266K ▼ $-183.82K ▼ $-876K ▼ $1.151M ▲ $45.959K ▲ $-358K ▼
Q4-2023 $944.374K ▲ $1.366M ▲ $-740.026K ▼ $-1.192M ▼ $-266.983K ▼ $625.586K ▲
Q2-2023 $562.328K ▼ $-65.622K ▼ $-21.766K ▲ $-56.83K ▲ $-101.561K ▼ $-87.388K ▼
Q4-2022 $1.145M $2.599M $-1.248M $-424.282K $432.703K $1.351M

Five-Year Company Overview

Income Statement

Income Statement Mingteng’s income statement still looks like that of a very early‑stage or transition‑stage company. Reported revenue is negligible and the core business is not yet generating meaningful sales. The latest year shows a small operating loss and a net loss, which is normal for a company that is investing in building out operations before scale is reached. The odd pattern of earlier positive earnings despite essentially no revenue likely reflects the company’s SPAC background and one‑off accounting items rather than a stable, profitable operating business. In simple terms: this is not yet a mature, revenue‑driven story; the financials do not yet reflect the growth narrative described in the business overview.

Balance Sheet

Balance Sheet The balance sheet is very light. Assets and equity are small, and there is no financial debt reported, suggesting the company is equity‑funded and carries little balance‑sheet risk today. At the same time, the very small asset base underlines the company’s limited current scale – it does not yet have the footprint you would expect of a large industrial manufacturer. With no visible cash cushion in the data and no borrowing, future growth will likely depend on raising more capital or quickly scaling operations. Financial flexibility appears modest simply because the entire balance sheet is still small.

Cash Flow

Cash Flow The cash flow statement shows no meaningful inflows or outflows from operations, investment, or capital expenditure over the past few years. That fits with a SPAC shell transitioning into an operating business: there has not yet been a period of sustained production, customer collections, or heavy investment in equipment reflected in these figures. The absence of clear operating cash generation means the business is not yet self‑funding. To build out manufacturing capacity and support growth, the company will likely need to start deploying capital in the coming years, which is not yet visible in the historical cash flow data.

Competitive Edge

Competitive Edge Mingteng is positioning itself as a specialized mold supplier to the automotive sector, with a strong tilt toward new energy vehicles in China. Its main competitive strengths today appear to come from relationships and positioning rather than sheer size: long‑term ties with auto parts makers, a partnership with a major new energy commercial vehicle drivetrain supplier, and exposure to a fast‑growing niche (new energy heavy and medium trucks). These help embed the company in customer supply chains and can make it harder to displace once qualified. However, the broader mold and metal fabrication industry is competitive, with many capable players, and Mingteng is still small and relatively unknown globally. Its moat looks emerging rather than established: it will depend heavily on deepening key partnerships, proving consistent quality, and keeping up with rapidly evolving NEV technology. Customer concentration, dependence on China’s auto cycle, and limited scale remain important competitive risks.

Innovation and R&D

Innovation and R&D Innovation is one of the brighter spots in the Mingteng story. The company is collaborating with a leading university to develop new steel materials for die‑casting molds, aiming for longer mold life, better performance, and lower material costs. If successful, this could give Mingteng a cost and durability edge in its molds and create proprietary know‑how protected by patents that the company can use freely. In addition, its operating subsidiary reportedly holds dozens of patents, providing at least a base of technical capability to build on. The strategy is to pair this R&D with integrated “turnkey” solutions for customers, especially in new energy vehicle components. The main caveats: these projects are multi‑year, results are still being tested, and there is uncertainty about how much real‑world advantage and pricing power they will ultimately deliver. Execution, commercialization, and continued investment will be crucial.

Summary

Mingteng today looks more like a developing industrial platform than a fully scaled manufacturer. The financials show a tiny, loss‑making base with minimal revenue and a very small balance sheet, reflecting its recent SPAC origins and early stage of operating build‑out. There is no demonstrated history of strong cash generation or large‑scale production yet. On the strategic side, however, the company is aligning itself with attractive themes: new energy vehicles in China, integrated mold and component solutions, and university‑backed materials research. Partnerships with key industry players and targeted R&D could, over time, translate into a more defensible competitive position if they yield durable cost and performance advantages. The key uncertainties are scale‑up risk, dependence on a few relationships, the need for capital to grow from a small base, and the gap between innovation plans and proven, recurring earnings. The story is still in the early chapters; the financials have not yet caught up with the ambition outlined in the business narrative.

NEWS

October 1, 2025 · 7:00 AM UTC

Mingteng International Corporation Inc. Announces Financial Results for First Half of Fiscal Year 2025

Read more