The Buzz Surrounding Greenland Technologies Holding Corporation (NASDAQ: GTEC) | Financial Buzz

The Buzz Surrounding Greenland Technologies Holding Corporation (NASDAQ: GTEC)

About:

Greenland Technologies Holding Corporation is a developer and a manufacturer of drivetrain systems for material handling machineries and electric vehicles, as well as electric industrial vehicles.

Contributing to a future of sustainable development:

A Cleaner Environment

Healthier Communities

Return on Investment

Our Behind the Buzz Show Featuring
Greenland Technologies Holding Corporation

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Greenland Technologies Holding Corporation

Investor Recap

Advantages of Transitioning to Electric

Low Carbon Footprint
Less Noise
No Gas Exhaust
Less Maintenance

Drivetrain Products

Drivetrain for Forklift Trucks
Drivetrain for Forklift Trucks

Electric Industrial Vehicles

  • All electric forklift trucks, loaders and excavators operating off lithium-ion power.
  • These industrial vehicles will be assembled in the U.S.
  • Plan to be launched in Q4 2021.
Electric forklift trucks
GEL-1800 electric loader
GEX-8000 electric excavator
Compact Electric Loader – GEL-1800

The GEL-1800 electric loader offers a unique combination of loading capacity, compact design and performance as well as a perfect interplay of powerful engine output and outstanding run time.

It offers the power to handle the job fast while staying quiet and clean for both indoor and outdoor use.

1,800 kg

Rated Load

9 hrs

Operation Time (Up to)

2 hrs

Charge Time *

* Optional 60/90 Kw output charging facility required.

Recent Developments

June 25, 2021 - Greenland Technologies and Shandong Heavy Industry Announce Major Strategic Partnership

Greenland Technologies Holding Corporation (NASDAQ: GTEC), a technology developer and manufacturer of electric industrial vehicles and drivetrain systems for material handling machineries and vehicles, today announced that it will present at Nomura’s Industrials & New Energy Day conference being held virtually on June 29-30.

Greenland’s CEO, Raymond Wang, will meet with institutional investors to discuss the Company’s record 1Q 2021 financial results and recent business developments, highly differentiated industrial EV product roadmap, significant sales and manufacturing expansion plans, and extensive multi-year growth opportunities. He will highlight Greenland’s major strategic partnership with Shandong Zhongcha Heavy Industry Machinery Co. to launch a lithium battery forklift utilizing Greenland’s new integrated drivetrain system in the U.S. starting in July 2021; and provide an update on the positive customer response to Greenland’s recently launched online EV pre-booking service (www.greenlandmachinery.com/shopfor its new GEL-1800 1.8 ton Electric Loader and its GEX-8000 Electric Excavator.

For Full Release: https://www.prnewswire.com/news-releases/greenland-technologies-and-shandong-heavy-industry-announce-major-strategic-partnership-301316235.html

June 21, 2021 - Greenland Technologies and Shandong Heavy Industry Announce Major Strategic Partnership

Greenland Technologies Holding Corporation (NASDAQ: GTEC) (“Greenland“), a technology developer and manufacturer of electric industrial vehicles and drivetrain systems for material handling machineries and vehicles, today announced a major strategic partnership with Shandong Zhongcha Heavy Industry Machinery Co. (“Shandong“), a multinational heavy machinery and automotive manufacturing company.

The partnership is structured to accomplish two strategic objectives to drive revenue generation and to enhance leadership position as a first mover.  First, the companies are joining forces to launch a lithium battery forklift, which utilizes Greenland’s new integrated drivetrain system that will be available for sale in the U.S. by Greenland starting in July 2021.  Second, the two strategic partners will combine R&D resources to develop the next stage of lithium powered forklifts to ensure they remain positioned for market leadership over the longer term.

Headquartered in JinanShandongChina, Shandong Zhongcha Heavy Industry Machinery Co. was founded in 2009 through a merger between Weichai Holding Group, Shandong Construction Machinery Group and Shandong Auto Industrial Group.  Shandong Heavy Industry has five principal operating subsidiaries: Weichai Holding Group Co., Ltd. (the parent company of Weichai Power), Shantui Construction Machinery Co., Ltd., Shantui Machinery Co., Ltd., Shanzhong Construction Machinery Co., Ltd., and Shandong Auto Industry Group Co., Ltd., Shazhonng Construction Machinery.

Raymond Wang, CEO of Greenland, commented, “This is another major development for our business, as we align with a powerful, well-funded strategic partner with extensive experience and customer relationships in our target markets.  We have already spoken with numerous customers with very positive feedback for a lithium battery forklift solution. Importantly, we are confident we can bring our jointly-developed lithium battery powered forklift to market at a price point competitive with legacy acid battery powered vehicles.  The competitive price point combined with the fact our vehicle is a safer, cleaner vehicle with a higher customer return on investment than traditional forklifts, gives us a winning market position with high-volume potential.  We look forward to working together with Shandong, as we build a mutually successful, long-term partnership.”

For Full Release: https://www.prnewswire.com/news-releases/greenland-technologies-and-shandong-heavy-industry-announce-major-strategic-partnership-301316235.html

Jun 15, 2021 - Greenland Technologies Launches EV Pre-Booking

Greenland Technologies Holding Corporation (NASDAQ: GTEC) (“Greenland”), a technology developer and manufacturer of electric industrial vehicles and drivetrain systems for material handling machineries and vehicles, today announced the launch of an online EV pre-booking service for its new GEL-1800 1.8 ton Electric Loader and its GEX-8000 Electric Excavator. The Company expects to start deliveries in August 2021, ahead of schedule. Customers can learn more and pre-book with a $250 refundable deposit at www.greenlandmachinery.com/shop.

Raymond Wang, CEO of Greenland, commented, “We are very excited as initial interest in our new industrial electric vehicles is very strong. We expect interest in the market will continue to grow, as we continue to introduce new EVs and further raise awareness. We expect these to be truly disruptive launches given there are no alternative industrial EVs on the market. Opening pre-booking will allow customers to add Greenland into their current budget cycle, while giving us added visibility as we ramp production.”

Greenland’s GEL 1800 Electric Loader has a loading capacity of approximately 1,800 kg (approximately 3,969 lbs) and is equipped with a powerful 144 kWh lithium battery. The Company designed the GEL 1800 Electric Loader to be used in a wide range of applications, including construction, mining, farming, industrial and more.

Greenland’s GEX-Electric Excavator 8 ton electric excavator has the power to get the job done without the pollution generated by traditional internal combustion engines. With no carbon emissions generated through operation the GEX-8000 is a safer option for the workplace, operators and the local community.

For Full Release: https://www.prnewswire.com/news-releases/greenland-technologies-launches-ev-pre-booking-301313096.html

May 12, 2021 - Greenland Technologies Holding Corporation Reports First Quarter 2021 Unaudited Financial Results

Greenland Technologies Holding Corporation (NASDAQ: GTEC) (“Greenland” or the “Company”), a technology developer and manufacturer of electric industrial vehicles and drivetrain systems for material handling machineries and vehicles, today announced its unaudited financial results for the quarter ended March 31, 2021.

First Quarter 2021 Financial and Operating Highlights

Total revenues were $24.6 million, an increase of 149.3% from $9.9 million in the first quarter of 2020.
Gross margin was 20.7%, an increase of 1.2 percentage points year over year.
Net Income was $2.4 million, an increase of 644.7% from $0.3 million in the first quarter of 2020.
Number of transmission products sold was 36,986 units, an increase of 129.7% compared with 16,099 units in the first quarter of 2020
CEO and CFO Remarks

Mr. Raymond Wang, CEO of Greenland Technologies Holding Corporation, commented, “I am very proud of our team for continuing to deliver exceptional results. We achieved our best quarter to date, with $24.6 million in revenue driven by a record delivery of roughly 37,000 transmission units. These results illustrate our successful operating strategy that utilizes our established supply chain, production expertise and state-of-the-art 605,000 square feet manufacturing facility. We continue to earn the trust of our clientele through focusing on their business needs when others cannot during this global pandemic. As businesses begin to reopen, the demand for material handling vehicles such as forklift trucks in China has never been larger and is expected to continue to drive growth of our core business throughout the year as we consider ourselves as a market leader in the industry.”

Mr. Wang continued, “At the same time, we will continue to expand our product roadmap with innovative lithium battery powered solutions and electric industrial vehicles which will add further value to us and distinguish Greenland in both the China and global markets. We will continue to expand our manufacturing capabilities in China and enlarge our manufacturing footprint with assembly sites in the United States to deploy our new line of electric industrial vehicles. We expect to have our first production-ready electric industrial vehicle, an electric loader vehicle with a 1.8-ton payload capacity powered by a 141kwh lithium battery, in Q4 of this year. This will bring Greenland from a critical component provider to a fully integrated electric industrial vehicle company. We can expand the potential value of our addressable market opportunities on a major scale as we work to meet customer demands and build greater value for our shareholders.”

Mr. Jing Jin, Greenland Technologies’ Chief Financial Officer commented: “We generated strong quarterly results with impressive financial and operational performances. Total revenues grew 149.3% year over year to $24.6 million, with a 644.7% net income increase year over year, reaching $2.4 million. These results demonstrate both the soundness of our growth strategy and our ability to generate attractive profit. With a solid balance sheet position and cutting-edge knowledge, we will continue to invest in research and new products to drive accelerated growth in electric industrial vehicles sector.”

For Full Release:  https://www.prnewswire.com/news-releases/greenland-technologies-holding-corporation-reports-first-quarter-2021-unaudited-financial-results-301289447.html

April 13, 2021 - Greenland to Showcase New GEL 1800 Electric Loader at Hannover Messe 2021 Digital Expo

Greenland Technologies Holding Corporation (NASDAQ: GTEC) (“Greenland” or the “Company”), a technology developer and manufacturer of electric industrial vehicles and drivetrain systems for material handling machineries and vehicles, today announced it will be showcasing its new GEL-1800 1.8 ton electric loader at the Hannover Messe 2021 Digital Expo from April 12-16, 2021. Attendees will get a first look at the GEL-1800 electric loader’s sleek design and production specifications.

Raymond Wang, CEO of Greenland, commented, “The response to our GEL-1800 beta announcement last month was overwhelmingly positive. The Hannover Messe 2021 Digital Expo gives us a platform to raise additional awareness and to engage in more detailed productive discussions with potential buyers.”

Greenland’s first electric industry vehicle, the GEL 1800 Electric Loader, has a loading capacity of approximately 1,800 kg (approximately 3,969 lbs) and is equipped with a powerful 144 kWh lithium battery. The Company designed the GEL 1800 Electric Loader to be used in a wide range of applications, including construction, mining, farming, industrial and more.

The Hannover Messe 2021 digital expo is a world-leading trade show dedicated to industrial technology. This year the event has attracted over 1,800 exhibiting companies to showcase solutions from sustainable energy products to manufacturing innovations. The virtual event runs from April 12-16, 2021, with networking opportunities and live streaming events. The event is organized by Deutsche Messe AG, a leading producer of capital goods trade fairs in Germany and around the world. For more information visit the Hannover Messe website.

For Full Release:  https://www.prnewswire.com/news-releases/greenland-to-showcase-new-gel-1800-electric-loader-at-hannover-messe-2021-digital-expo-301267736.html

April 12, 2021 - Doubling of 1Q21 Revenue YoY Expected for Greenland Technologies

Greenland Technologies Holding Corporation (NASDAQ: GTEC) (“Greenland” or the “Company”), a technology developer and manufacturer of electric industrial vehicles and drivetrain systems for material handling machineries and vehicles, today announced that based on select preliminary results, which are subject to finalization, revenue for the first quarter of 2021 ended March 31, 2021 doubled compared to the same period a year ago, with low double digit growth expected compared to the fourth quarter of 2020 ended December 31, 2020. Preliminary results also indicate unit sales of the Company’s transmission boxes doubled in the first quarter of 2021, as compared to the first quarter of 2020. The Company plans to release financial results for the first quarter of 2021 in mid-May.

The Company noted that based on preliminary results, the growth trends it benefitted from in 2020 are accelerating in 2021. Greenland’s continued growth is being led by the reopening and rebound of the broader economy, along with the Company’s successful introduction of new products.

Raymond Wang, CEO of Greenland, commented, “Doubling of our revenue on a year over year basis is impressive but we are even more excited about the expected sequential growth in the first quarter of 2021 compared to the fourth quarter of 2020. This would make the first quarter of 2021 the highest revenue quarter in the Greenland’s history. We remain focused on executing our business strategy, meeting all product roadmap milestones and exceeding commitments to our customers.”

For Full Release:  https://www.prnewswire.com/news-releases/doubling-of-1q21-revenue-yoy-expected-for-greenland-technologies-301266320.html

March 25, 2021 - Greenland Technologies Completes Full Beta Versions of its New GEL 1800 Electric Loader; Company to Transition to the Construction of Production Representative Versions in 2H 2021

Greenland Technologies Holding Corporation (NASDAQ: GTEC) (“Greenland”), a technology developer and manufacturer of electric industrial vehicles and drivetrain systems for material handling machineries and vehicles, today announced it has completed full beta versions of its new GEL 1800 Electric Loader. The Company plans to transition to the construction of pilot production representative versions in the second half of 2021.

Raymond Wang, CEO of Greenland, commented, “This is another major milestone for Greenland. There has been a lot of money and attention put into the Electric Vehicle (“EV”) market with not a lot of actual commercial models to show. We are breaking that mold with the GEL 1800 Electric Loader. Greenland is one of only a few companies worldwide with the capabilities, supply chain relationships, financial strength and intellectual property needed to create such an impressive EV. We are focused on building a preeminent EV brand and will continue to prioritize industrial-related applications where we have a clear competitive advantage, strong demand and a multi-year, global runway.”

Greenland’s first electric industry vehicle, the GEL 1800 Electric Loader, has loading capacity of approximately 1,800 kg (approximately 3,969 lbs) and equipped with a powerful 144 kwh lithium battery. The Company designed the GEL 1800 Electric Loader to be used in a wide range of applications, including construction, mining, farming, industrial and more.

For Full Release: https://www.prnewswire.com/news-releases/greenland-technologies-completes-full-beta-versions-of-its-new-gel-1800-electric-loader-company-to-transition-to-the-construction-of-production-representative-versions-in-2h-2021-301255431.html

March 1, 2021 - Greenland Technologies Plans Major U.S. Manufacturing Expansion to Increase Its Total Worldwide Capacity

Greenland Technologies Holding Corporation (NASDAQ: GTEC) (“Greenland”), a technology developer and manufacturer of electric industrial vehicles and drivetrain systems for material handling machineries and vehicles, today announced a planned major U.S. manufacturing expansion that will establish Greenland’s U.S. market manufacturing footprint and increase its total worldwide capacity.

Raymond Wang, CEO of Greenland, commented, “Our plan to expand in the U.S. builds on our recent strategic developments and will serve as a powerful growth platform, while creating jobs and investing in the local economy. In addition to assembly of our upcoming electric industrial vehicles, we will use the new facility as a product showcase, which will further empower our sales team. Overall, we expect this major expansion will further improve Greenland’s competitive position and accelerate adoption of our electric industrial vehicles.”

Under the planned expansion, Greenland is in discussions to establish a new up to 50,000 square foot facility on the East Coast of the U.S. Depending on the favorable outcome of discussions regarding potential incentive programs with state and local officials, Greenland plans to finalize the site selection process and formally announce the state the new facility will be located in during 2Q 2021. The Company is targeting 3Q 2021 to take possession of the additional manufacturing space, with assembly lines brought fully online for its upcoming electric industrial vehicles targeted between 3Q 2021 and 4Q 2021.

For Full Release: https://www.prnewswire.com/news-releases/greenland-technologies-plans-major-us-manufacturing-expansion-to-increase-its-total-worldwide-capacity-301236986.html

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