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Greenland Technologies Holding Corporation reports company developments tied to its electric industrial vehicles and drivetrain systems for material handling machinery and vehicles. News includes operating results, product-roadmap commentary, dealer and distribution activity for electric industrial equipment, and updates on the company’s manufacturing and support ecosystem.
Company announcements also cover capital actions and security-structure matters, including underwritten offerings, warrants, ordinary share classes, shareholder voting rights and Nasdaq continued-listing compliance notices. These updates frame GTEC as an operating manufacturer whose disclosures combine industrial-equipment demand, cost management, balance-sheet activity and public-market requirements.
Greenland Technologies Holding Corporation (NASDAQ: GTEC) announced plans for an underwritten public offering of ordinary shares. The net proceeds will be utilized for general corporate and working capital needs. The offering is subject to market conditions, and no assurances are provided regarding the timing, terms, or final size of the offering. Aegis Capital Corp. is the book-running manager for this initiative, which is being made under an effective shelf registration statement filed with the SEC.
Greenland Technologies Holding Corporation (NASDAQ: GTEC) will present at Nomura's Industrials & New Energy Day conference on June 29-30, 2021. CEO Raymond Wang will discuss the company's record 1Q 2021 financial results, its innovative electric vehicle (EV) product roadmap, and expansion plans. Key highlights include a strategic partnership with Shandong Zhongcha Heavy Industry to launch a lithium battery forklift in the U.S. in July 2021 and positive customer feedback on the new EV pre-booking service for the GEL-1800 Electric Loader and GEX-8000 Electric Excavator.
Greenland Technologies Holding Corporation (NASDAQ: GTEC) announced a strategic partnership with Shandong Zhongcha Heavy Industry Machinery to launch a lithium battery forklift in the U.S. by July 2021. This partnership aims to enhance revenue generation and establish market leadership. The collaboration will combine R&D resources for further development of lithium-powered forklifts, ensuring competitive pricing and customer return on investment. CEO Raymond Wang emphasized the strategic advantage of working with a well-funded partner.
Greenland Technologies Holding Corporation (NASDAQ: GTEC) has launched an online pre-booking service for its new electric vehicles, the GEL-1800 Electric Loader and the GEX-8000 Electric Excavator, with deliveries anticipated to begin in August 2021. Customers can reserve these vehicles with a $250 refundable deposit. The GEL-1800 offers a loading capacity of approximately 1,800 kg, while the GEX-8000 is designed to operate without carbon emissions, enhancing workplace safety.
Greenland Technologies Holding Corporation (NASDAQ: GTEC) will present at the LD Micro Invitational XI Conference virtually from June 8 to 10, 2021. CEO Raymond Wang is set to discuss the Company’s strong Q1 2021 financial results, along with insights into their differentiated electric vehicle (EV) product roadmap, sales and manufacturing expansion, and growth opportunities. The presentation is scheduled for June 9, 2021, at 2:00 p.m. ET. Investors can register for the event here.
Greenland Technologies Holding Corporation (NASDAQ: GTEC) reported first-quarter 2021 results with revenues of $24.6 million, a 149.3% increase year-over-year. Net income surged 644.7% to $2.4 million. The company sold 36,986 transmission units, up 129.7%. Gross profit reached $5.1 million with a gross margin of 20.7%. Operating expenses were $2.2 million, up 21.3%, but as a percentage of revenue decreased significantly. For 2021, Greenland forecasts revenues between $80 million and $90 million, expecting growth of 20% to 35%.
Greenland Technologies Holding Corporation (NASDAQ: GTEC) announced it will release its first quarter 2021 unaudited financial results on Wednesday, May 12, 2021, prior to the U.S. market opening. An earnings conference call will be held at 8:30 AM ET on the same day, with registration required for participation. A replay of the call will be available until May 20, 2021. Greenland focuses on developing electric industrial vehicles and drivetrain systems for material handling.
Greenland Technologies Holding Corporation (NASDAQ: GTEC) will present its new GEL-1800 electric loader at the Hannover Messe 2021 Digital Expo from April 12-16, 2021. This loader boasts a 1.8-ton capacity and is powered by a 144 kWh lithium battery, suitable for various industries including construction and farming. CEO Raymond Wang noted the positive response to the GEL-1800 beta announcement, emphasizing the expo's role in raising awareness and facilitating discussions with potential buyers. Hannover Messe is a leading trade show for industrial technology.
Greenland Technologies Holding Corporation (NASDAQ: GTEC) announced that its preliminary revenue for Q1 2021 has doubled compared to Q1 2020, with low double-digit growth expected over Q4 2020. Additionally, unit sales of transmission boxes also doubled year-over-year. CEO Raymond Wang highlighted the expected sequential growth, indicating Q1 2021 may be the highest revenue quarter in the company’s history. The growth is attributed to the economic rebound and successful new product introductions. Full financial results are anticipated in mid-May 2021.
Greenland Technologies Holding Corporation (NASDAQ: GTEC) reported a 27.6% revenue increase in 2020, totaling $66.9 million. The company's net income per share rose by 19.6% to $0.67, despite a dilution impact from a 2.08 million share increase during the offering process. Gross profit increased by 3.5% to $12.8 million, while gross margin decreased from 23.6% to 19.2%. The company is set to launch its first electric industrial vehicle by July 2021, capitalizing on the growing electrification trend in the construction equipment market.