Welcome to our dedicated page for Greenland Technologies Holding Corporation Ordinary Shares news (Ticker: GTEC), a resource for investors and traders seeking the latest updates and insights on Greenland Technologies Holding Corporation Ordinary Shares stock.
Greenland Technologies Holding Corporation (Nasdaq: GTEC) is a leading developer and manufacturer of electric industrial vehicles and drivetrain systems, primarily focused on material handling vehicles such as forklift trucks. The company's core business involves creating innovative and high-quality solutions for the material handling industry, catering to both domestic and international markets. Greenland Technologies earns the majority of its revenue from its domestic sales.
Greenland Technologies has recently made significant strides in the industry with various achievements and ongoing projects. The company announced that East Energy, through its subsidiaries Carolina Poultry Power RG2, LLC, and Carolina Poultry Power RG3, LLC, has agreed to purchase multiple zero-emission electric industrial machines from Greenland's HEVI. The sale includes two GEL-5000s and one GEL-1800, showcasing strong power, significant payload options, and approximately 40,000 pounds of operating weight, with each loader capable of running for nine hours per charge. These loaders are ideal for various applications, including agriculture, urban construction, and waste management.
Another notable development is the planned spin-off of Greenland's drivetrain systems business. The spin-off will result in two independent, publicly traded companies, allowing each to focus on their respective core operations – electric industrial vehicles under the HEVI brand and drivetrain systems as a standalone entity. This separation aims to enhance shareholder value and provide dedicated growth strategies for each segment.
Greenland Technologies has also expanded its HEVI Authorized Service Provider (ASP) national network program, with Truck and Auto Repair in North Carolina joining the network to support increased demand for the HEVI electric industrial vehicle product line. The company is committed to providing robust and reliable service and support infrastructure to HEVI owners.
The company's HEVI GEL-5000 all-electric front loader has garnered significant interest and success, with sales deliveries made to the Port of Baltimore as part of their electrification plan. The Port Authority of New York and New Jersey has also agreed to purchase the HEVI GEL-5000, further demonstrating the growing traction of Greenland's electric industrial vehicles in key industrial and commerce centers.
Financially, Greenland Technologies reported a 64% year-over-year increase in net income per share for the first quarter of 2024, driven by strong execution of its business strategies and growing EV sales. The company's revenue for the quarter was $22.72 million, a 2.6% increase compared to the same period in 2023.
Overall, Greenland Technologies Holding Corporation is positioned as a critical player in the industrial electric vehicle market, continually advancing its product offerings and expanding its market presence. For more information, visit www.gethevi.com.
Greenland Technologies Holding Corporation (NASDAQ: GTEC) will present at the Sequire Cleantech & Electric Vehicle Investor Conference on December 6, 2021. CEO Raymond Wang will discuss the company's strong Q3 2021 results, reporting nearly a 40% revenue increase and 173% net income growth year-over-year. Greenland aims to emphasize its electric industrial vehicles, including the new GEL-1800 Electric Loader and GEF-series Electric Forklift.
Investors can register for the event at sequire.com.
Greenland Technologies Holding Corporation (NASDAQ: GTEC) announced the launch of its GEL-1800 Electric Loader, its second electric industrial vehicle line. This zero-emission loader features a 141 KWh lithium battery, allowing for a quick 2-hour charge and up to 9 hours of operation. The GEL-1800 aims to address challenges in facility management by offering sustainable power, reduced noise levels, and lower maintenance costs compared to diesel vehicles. It is now available for sale in the U.S., signaling Greenland's ongoing expansion in the electric vehicle market.
Greenland Technologies Holding Corporation (NASDAQ: GTEC) reported third-quarter 2021 revenue of $23.1 million, a 39.7% increase year-over-year, and net income of $1.3 million, up 172.5%. The company sold 33,478 transmission products, marking an 11.6% increase from the previous year. Despite rising material costs, gross margin improved to 22.1%. Operating expenses rose significantly to $3.0 million due to increased sales and R&D investments. The company maintains its full-year revenue guidance of $90 million to $100 million, projecting a 35% to 49% increase compared to 2020.
Greenland Technologies Holding Corporation (NASDAQ: GTEC) will report its unaudited financial results for Q3 2021 on November 11, 2021, before the U.S. market opens. The management team will host an earnings conference call at 8:00 AM ET on the same day. Investors can register for the call online and access the replay until November 19, 2021. Greenland specializes in developing electric industrial vehicles and drivetrain systems for material handling, positioning itself in the growing electric vehicle market.
Greenland Technologies Holding Corporation (NASDAQ: GTEC) has announced the launch of its new zero-emissions GEF-series electric forklifts, featuring lithium battery technology. Deliveries will prioritize pre-orders in North America, with promotional prices ranging from $23,999 to $34,999. The forklifts promise enhanced operating advantages, including lower maintenance costs, greater power, and a service life exceeding traditional lead-acid battery vehicles. The launch of these innovative forklifts aims to meet sustainability goals while fulfilling existing customer demand.
Greenland Technologies Holding Corporation (NASDAQ: GTEC) will present virtually at the H.C. Wainwright 23rd Annual Global Investment Conference from September 13-15, 2021. CEO Raymond Wang will highlight the company’s record-breaking 2Q 2021 results, discuss recent developments in industrial electric vehicles, and outline growth plans. An on-demand presentation is scheduled for September 13, 2021, at 7:00 AM ET. Investors can register for one-on-one meetings via the conference website.
Greenland Technologies Holding Corporation (NASDAQ: GTEC) reported strong financial results for Q2 2021, with revenues of $28.2 million, up 70.1% year-over-year. Net income rose to $3.2 million, reflecting a 114.2% increase compared to Q2 2020. Gross margin improved to 20.2%, up 2.8 percentage points from the previous year. The company sold 42,046 transmissions, a 48.5% increase year-over-year. For the full year 2021, Greenland revised its revenue guidance to between $90 million to $100 million, indicating continued growth amidst market demand.
Greenland Technologies Holding Corporation (NASDAQ: GTEC) will announce its unaudited financial results for the second quarter ending June 30, 2021, on August 10, 2021, before the U.S. market opens. An earnings conference call will follow at 8:00 AM EST on the same day. Interested participants are encouraged to register in advance. The company focuses on the development and manufacture of electric industrial vehicles and drivetrain systems for material handling.
Greenland Technologies Holding Corporation (NASDAQ: GTEC) has launched its new GEF-series electric lithium forklifts, one of the first lithium-powered forklifts in the industry. Deliveries are set to begin in September 2021 for the North American market. These forklifts feature various rated load capabilities, tailored for diverse applications, with models supporting loads from 1,800 kg to 3,500 kg. The GEF-series promises operational advantages over traditional forklifts with lead-acid batteries, emphasizing lower maintenance costs and a competitive pricing model.
Greenland Technologies Holding Corporation (NASDAQ:GTEC) has successfully completed a $7 million underwritten public offering of ordinary shares, with Aegis Capital Corp. serving as the sole bookrunner. This capital raise aims to enhance the company's financial flexibility and support its strategy in developing drivetrain systems for material handling machinery and electric vehicles. The offering aligns with GTEC's mission to innovate in the electric vehicle sector, potentially facilitating future growth opportunities.
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