Greenland Technologies Hldg Stock Price, News & Analysis

Greenland Technologies Holding Corporation (NASDAQ: GTEC) announced its new all-electric front loader, the GEL-5000, designed for various industrial applications. This vehicle has a 5.0-ton load capacity, weighs approximately 40,000 pounds, and offers a rapid two-hour charge with nine hours of operation. The GEL-5000 emphasizes sustainability and operator comfort, reducing ownership costs while providing strong performance. Featured in a broadcast by NetworkNewsAudio, the launch aims to enhance brand visibility in the investment community.

Greenland Technologies Holding Corporation (GTEC) closed a $10 million registered direct offering and private placement, issuing 1,250,000 ordinary shares at $4.17 per share, alongside pre-funded warrants for 398,974 shares. The private placement also included units to purchase 616,026 pre-funded warrants and 4,530,000 common warrants, priced at $5.089 per unit. Aegis Capital Corp. served as the Exclusive Placement Agent. This offering is registered under SEC's Form S-3 and is limited to accredited investors.

Greenland Technologies Holding Corporation (GTEC) has announced a definitive agreement to sell 1,250,000 ordinary shares and pre-funded warrants for 398,974 shares at $4.17 each. In a concurrent private placement, GTEC will issue units allowing purchases of 616,026 shares and common warrants for 4,530,000 shares at an exercise price of $4.49. Total gross proceeds from both transactions are estimated at $10 million, expected to close around July 27, 2022. The offerings will be conducted under an effective SEC registration statement.

Greenland Technologies Holding Corporation (NASDAQ: GTEC) has launched the GEL-5000, a 5-ton all-electric lithium wheeled front loader, under its HEVI brand. This innovative vehicle features an operating weight of approximately 40,000 pounds, a rapid 2-hour charging time, and 9 hours of operational time per charge. Designed for diverse industries such as agriculture and waste management, it emphasizes sustainability with zero emissions and enhanced operator comfort. CEO Raymond Wang highlights its cost-effectiveness and innovative design as key attributes.

Greenland Technologies Holding Corporation (NASDAQ: GTEC) will engage with institutional investors at Credit Suisse's 2022 Mobility Forum on June 21, 2022. CEO Raymond Wang will lead discussions on the company's financial results, growth strategies, and product developments. Greenland specializes in drivetrain systems for material handling machines and electric vehicles. Interested investors must register through their sales representatives. For more details about their clean industrial equipment, visit HEVI Equipment.

Greenland Technologies Holding Corporation (NASDAQ: GTEC) will present virtually at the H.C. Wainwright Global Investment Conference from May 23 to May 26, 2022. Institutional investors can register for one-on-one meetings with CEO Raymond Wang, while an on-demand presentation will be available starting at 7:00 a.m. EST on May 24. Greenland specializes in developing and manufacturing electric industrial vehicles and drivetrain systems for material handling equipment. For more details, visit HEVI Equipment.

Greenland Technologies Holding Corporation (NASDAQ: GTEC) expressed support for the Maryland Clean Cars Act of 2022, which initiates a grant program for zero-emission heavy equipment. The program, managed by the Maryland Energy Administration, mandates a budget allocation of at least $750,000 annually from 2024 to 2027 to subsidize equipment purchases starting July 1, 2023. CEO Raymond Wang highlighted this step as pivotal for advancing electric industrial vehicles, affirming their commitment to U.S. manufacturing in Baltimore County, and encouraging other states to adopt similar initiatives for a cleaner economy.

Greenland Technologies Holding Corporation (NASDAQ: GTEC) has chosen Baltimore County, Maryland, for its U.S. expansion, selecting a site for a new 54,000 square-foot manufacturing facility in White Marsh. The facility aims to create full-time jobs and support growing demand for its electric industrial vehicles, set to open in July 2022. The company is utilizing the More Jobs for Marylanders program to incentivize job creation. Local officials express enthusiasm for the economic benefits and innovation Greenland brings to the region.

Greenland Technologies Holding Corporation (NASDAQ: GTEC) reported a record 1Q22 revenue of $29.3 million, a 19% increase from $24.6 million in 1Q21. Net income rose 19% to $2.9 million. The gross margin improved to 21.7%, up 100 basis points. The number of transmission products sold reached 41,902 units, up 13%. Greenland secured a lease for a new assembly facility in Maryland, set for a July opening, and launched its HEVI brand for electric heavy industrial equipment. Despite pandemic-related challenges, the company remains optimistic about long-term demand.