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.
HEVI Corp., a manufacturer of all-electric heavy equipment, has announced a partnership with the National Energy Improvement Fund (NEIF) to provide equipment financing for its customers. This collaboration aims to offer a streamlined, specialized financing program for the purchase of HEVI's all-electric heavy equipment. The partnership is expected to bring several advantages to customers, including better cost management, tax benefits, access to advanced technology, increased productivity, and mitigation of depreciation.
HEVI's CEO, Raymond Wang, emphasized that this partnership will introduce a quick and straightforward financing program, enhancing the purchasing and ownership experience of their equipment. The initiative is anticipated to boost sales and accelerate revenue growth by addressing a common barrier for customers. Matthew H. Brown, Co-Chair and Founder of NEIF, highlighted that HEVI's expanding industrial vehicle franchise aligns with their mission of helping customers combat climate change through sustainable solutions.
Greenland Technologies (Nasdaq: GTEC) and Lonking Holdings have announced a strategic partnership to develop electric heavy machinery for the U.S. market under Greenland's HEVI brand. This collaboration combines Greenland's expertise in electric vehicle technology with Lonking's leadership in heavy machinery manufacturing.
The partnership aims to introduce a new line of electric-powered heavy machinery that meets the demands for sustainability, efficiency, and performance in the U.S. construction and industrial sectors. Both companies seek to address the growing demand for environmentally friendly solutions, helping customers reduce carbon emissions, enhance operational efficiency, and improve productivity while reducing total cost of ownership and maintenance.
Greenland Technologies Holding (Nasdaq: GTEC) announced a 64% year-over-year increase in net income per share for Q1 2024, attributed to strategic investments in electric industrial vehicles and HEVI Authorized Service Provider network expansion.
Revenue rose 2.6% to $22.72 million, driven by increased sales volume. Gross profit increased 2.2% to $5.65 million, while total operating expenses rose 18.1% due to higher shipping fees and staffing costs.
Net income was $3.57 million, up from $2.46 million in Q1 2023. Cash reserves decreased by 30.44% to $15.99 million due to increases in notes receivables and fixed deposits.
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