Welcome to our dedicated page for Greenland Technologies Hldg news (Ticker: GTEC), a resource for investors and traders seeking the latest updates and insights on Greenland Technologies Hldg stock.
Greenland Technologies Holding Corporation (Nasdaq: GTEC) is a technology developer and manufacturer of electric industrial vehicles and drivetrain systems for material handling machineries and electric vehicles. Its news flow reflects both its manufacturing operations and the expansion of its clean industrial heavy equipment division under the HEVI brand.
On this page, readers can follow company announcements about audited and unaudited financial results, including quarterly and full‑year updates where Greenland reports revenue, cost of goods sold, gross profit, operating expenses, income from operations and net income. Management commentary in these releases often discusses product mix shifts toward higher‑value offerings, changes in sales volume of transmission products, and efforts to reduce operating expenses.
Greenland’s news also highlights developments in its electric industrial vehicle business. The company and its HEVI division have announced the launch of multiple all‑electric industrial heavy equipment models and DC mobile charging solutions designed for DC‑powered electric vehicle fleets at powered work sites. Press releases describe strategic initiatives such as incentives to encourage purchases of electric industrial vehicles and expansion of the product roadmap.
Another key theme in Greenland’s news is partnerships and ecosystem building. Recent items include a strategic partnership with Lonking Holdings Limited to develop electric‑powered heavy machinery for the U.S. market under the HEVI brand, a financing partnership with the National Energy Improvement Fund for HEVI equipment, and an agreement with Assurant to offer extended service contracts. Updates from HEVI also cover changes in its dealer model and service network. Investors and observers can use this news feed to monitor Greenland’s financial performance, product developments and strategic collaborations over time.
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.
Greenland Technologies Holding Corporation (NASDAQ: GTEC) announced the completion of full beta versions of its GEL 1800 Electric Loader, a significant milestone in its development of electric industrial vehicles. The company will begin producing pilot versions in the second half of 2021. With a loading capacity of approximately 1,800 kg and a powerful 144 kWh lithium battery, the GEL 1800 is designed for various applications including construction and mining. CEO Raymond Wang emphasized the company's commitment to establishing a leading EV brand focused on industrial applications.
Greenland Technologies Holding Corporation (NASDAQ: GTEC) plans to release audited financial results for Q4 and the full year 2020 on March 30, 2021. Preliminary figures indicate a revenue increase of approximately 25.5%, reaching around RMB 73.2 million, compared to RMB 58.3 million in Q4 2019. The company expresses optimism about continued growth driven by a diversified product mix and customer base.
Greenland Technologies Holding Corporation (NASDAQ: GTEC) has announced a significant expansion of its U.S. manufacturing operations, aiming to boost its global capacity. CEO Raymond Wang highlighted that the new facility will not only assemble electric industrial vehicles but also serve as a product showcase. The company is in discussions for a new facility of up to 50,000 square feet on the East Coast, with plans to finalize site selection by 2Q 2021 and begin operations by 3Q 2021. This expansion is expected to enhance Greenland's competitive edge and stimulate local job creation.
Greenland Technologies Holding Corporation (NASDAQ: GTEC) has entered a co-operation agreement with Fujian South China Heavy Machinery Manufacture Co. Ltd. (SOCMA) to enhance the production of electric industrial vehicles in the U.S. This partnership allows GTEC to leverage SOCMA's supply chain and technologies, aiding in the development of electric vehicles. GTEC plans to launch its first electric industrial vehicle by late 2021, focusing on the 1.8-ton load segment, which they believe will bolster long-term growth and shareholder value.
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