Greenland Technologies Holding Corporation is registering 5,083,330 Units, each at $1.20, with each Unit consisting of one Ordinary Share and four-fifths of a Warrant. This equals 5,083,330 Ordinary Shares, 4,066,666 Warrants, and up to 4,066,666 Ordinary Shares underlying the Warrants.
The Warrants have a three‑year term, are immediately exercisable at $1.20 per share, and may also be exercised on a “zero price” basis, so the company does not expect cash proceeds from warrant exercises. Gross proceeds are $6,099,996, with estimated net proceeds of about $5.32 million for working capital and general corporate purposes.
Shares outstanding will increase from 17,394,226 to 22,477,556, or 26,544,222 if all Warrants are exercised. The company operates mainly through PRC subsidiaries and faces evolving Chinese regulatory, HFCA Act, currency control and dividend‑remittance constraints, and has suspended most HEVI electric equipment operations due to tariff uncertainty. It is also pursuing a dual‑class share structure that would reduce voting power of offering shares if implemented after this sale.
Greenland Technologies Holding Corporation is filing an amended registration statement to offer 6,000,000 Units, each with one Ordinary Share and four-fifths of a Warrant, plus the Ordinary Shares issuable upon exercise of the Warrants. The assumed public offering price is $0.99 per Unit, and the company estimates net proceeds of about $5.16 million, to be used for working capital and general corporate purposes. Ordinary Shares outstanding would increase from 17,394,226 to 23,394,226, or to 28,194,226 if all Warrants are exercised.
The Warrants have a three‑year term and can be exercised at $0.99 per share or via a “zero price exercise,” so the company does not expect to receive cash from warrant exercises. Greenland is a British Virgin Islands holding company that operates mainly through PRC subsidiaries making transmission products for forklifts, and through HEVI, a U.S. subsidiary whose electric heavy equipment business has been largely suspended since 2025 due to tariff uncertainty.
The filing highlights extensive legal and operational risks tied to doing business in China, including evolving PRC regulations, new CSRC filing rules for overseas offerings, potential impacts from cybersecurity and data rules, and the risk of delisting under the Holding Foreign Companies Accountable Act if the PCAOB cannot inspect the auditor. It also outlines planned dual‑class share proposals that would introduce high‑vote Class B shares and re‑designate offered shares as Class A if implemented after this offering.
Greenland Technologies (GTEC) filed its Q3 2025 quarterly report, showing stronger operating results and a solid balance sheet. Revenue for the quarter was $23,401,597, up from $18,834,093 a year ago, with gross profit of $7,573,596. Net income attributable to the company swung to $5,732,522 from a loss of $684,391, and basic and diluted EPS were $0.33 versus ($0.05) last year.
For the first nine months of 2025, revenue reached $66,798,947 compared to $64,574,944, and net income attributable to the company was $6,511,037 versus $6,468,722. Operating cash flow was $7,799,034. Total assets were $123,425,269, liabilities were $53,573,282, and shareholders’ equity was $69,851,987. Cash and cash equivalents were $3,942,129, supplemented by $29,098,513 in short‑term investments. The warrant liability declined to $521,838, reflecting a non‑cash gain from fair value changes. As of November 7, 2025, there were 17,394,226 ordinary shares outstanding.