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Tag: Greenland Technologies Holding

  • Greenland Technologies (GTEC) Shares Rally In Pre-Hour Trading

    Greenland Technologies (GTEC) Shares Rally In Pre-Hour Trading

    After the release of financial results, Greenland Technologies Holding Corporation (NASDAQ: GTEC) shares saw a significant increase. As of the most recent pre-market check, GTEC stock price jumped 82.95% to $2.36.

    Adaptability in the Face of Market Difficulties

    Greenland Technologies (GTEC) demonstrated a strong focus on cost-efficiency by reporting a significant 28% reduction in operating expenditures, totaling $9.9 million. Furthermore, the company reversed its prior financial losses, turning a $15.15 million profit as opposed to a $25.02 million loss in 2023.

    Greenland Technologies has been resilient in the face of economic and business stresses, as well as difficulties among its clientele. The business’s steady sales growth and profitable recovery are positive indications of its long-term dominance in the sector.

    The favorable outcomes, which resulted in a net income of $1.03 per basic and diluted share, demonstrated GTEC’s emphasis on growing its commercial presence, especially in its product and vehicle lines.

    Product Offerings and Market Position Expansion

    Greenland Technologies has strategically expanded and diversified its product range, reinforcing its market position. In addition to its well-established transmission systems and integrated powertrains, the company now offers a range of all-electric, clean, and sustainable heavy equipment under its HEVI brand.

    These products aim to provide viable alternatives to traditional heavy-emission systems in the industrial sector. The successful launch of seven industrial heavy equipment models has garnered strong customer interest and support from ecosystem partners.

    Enhancing Technology and Production Effectiveness

    Greenland Technologies unveiled a new range of direct current (DC) mobile charging solutions as part of its continuous innovation efforts. These solutions are intended to fit in smoothly with fleets of electric vehicles at powered worksites. It is anticipated that this program will increase the use of HEVI’s electric heavy machinery while generating extra income.

    GTEC can reduce time-to-market and swiftly adjust to changing market needs thanks to its effective production process, which is backed by cutting-edge machinery, sophisticated systems, and trained personnel.

  • Greenland Technologies Holding Corp. (GTEC) Stock in Decline After a Robust Friday

    Greenland Technologies Holding Corp. (GTEC), a company that develops and manufactures transmission and drivetrain systems for material handling machinery and electric vehicles, has declined 9.91% in aftermarket trading session. Consequently, GTEC stock is trading at $8.91 at the time of the writing. The decline could be attributed to the profit-taking actor after the company surged 89.46% during Friday’s regular trading hours and closed the day at $9.89. The reason for this monumental surge was the launch of a second electric industrial vehicle line.

    Why GTEC Surged on Friday?

    On Friday, GTEC announced the launch of its second electric industrial vehicle line, namely the GEL-1800 Electric Loader. Before that, the company has already launched the GEF-series electric lithium forklift line. GEL-1800 Electric Loader contains a 141 KWh lithium battery, which provides environment friendliness. It boasts a rapid 2-hour charge and is capable to answer the basic issues arising in modern facility managers.

    Q3 2021 Financial Highlight

    On 11th November, GTEC announced the financial results for the third quarter of the fiscal year 2021. The quarter ended on 30th September 2021. The company generated revenues of $23.08 million during the quarter against $16.52 million during the same quarter of 2020. The total operating expenses of the period were $3.04 million against $1.15 million for the same period of 2020. The company generated a net income of $1.25 million during the quarter against $0.46 million for the same period of 2020. The net income per basic and diluted share for the period was $0.09 against $0.02 for the same period of 2020. The company had $9.02 in terms of cash and cash equivalents on 30th September 2021.

    Outlook for FY2021

    Alongside the financial results, GTEC also reported the financial outlook for the upcoming quarter. The company believes that for the full year 2021, the total revenues are expected to range between $90 million to $100 million. That is an increase of 35% to 49% year over year basis from 2020. The company also said that the outlook could change in the future, as the uncertainties could result from how the pandemic develops across the globe.

    What’s Ahead for GTEC Stock?

    During the last 12 months, GTEC stock has gained an increase of more than 100%. That reflects the investor interest in the company, which is finding its innovative strategies worth investing in. Hence, potential investors should keep a close eye on the developments related to GTEC stock to make their investments count soon.

  • Greenland Tech Holding Corp. (GTEC) Stock Falls Following New of Upcoming Public Offering

    Greenland Tech Holding Corp. (GTEC) stock prices were down by a marginal 2.58% as of the market closing on June 25th, 2021, bringing the price per share down to USD$9.07 at the end of the trading day. Subsequent pre-market fluctuations saw the stock fall by a significant 15.21%, bringing it down to USD$7.69.

    Strategic Partnership

    The company announced on June 21st, 2021 that it had entered into a major strategic partnership with Shandong Zhongcha Heavy Industry Machinery Co. The companies plan to collaboratively launch a lithium battery forklift, which will make use of GTEC’s innovative integrated drivetrain system that will be available for sale in the U.S by July 2021. To further drive revenue generation and consolidate their market leadership, GTEC plans to combine R&D resources to develop the new lithium powered forklifts.

    Launch of EV Pre-Booking

    June 15th, 2021 saw the company announce the launch of its online EV pre-booking service for the GEL-1800 1.8 ton Electric Loader, as well as the GEX-8000 Electric Excavator. Deliveries are forecasted for August 2021, ahead of schedule. The company website offers more information, as well as a service to pre-book a vehicle with a USD$250 refundable deposit.

    Success of Pre-Booking

    As the company expands its product portfolio and raises brand awareness, the highly promising initial interest has the momentum to carry the company through to a successful launch. In the absence of alternative industrial electric vehicles on the market, the upcoming launches are expected to be highly disruptive. Pre-bookings afford customers the chance to integrate products into their existing budget cycles as fiscal forecasts, while offering GTEC increases visibility and ramp production.

    Product Portfolio Expansion

    GTEC’s GEL-1800 Electric Loader has a maximum loading capacity of nearly 1800 kg and comes equipped with a massive 144 kWh battery. The vehicle is designed to be used in a variety of applications, including construction, mining, farming, and industrial. The GEX-Electric Excavator is an 8 ton electric excavator that has a minimal pollution footprint as compared to traditional internal combustion engines while having the power to get the most challenging jobs done. The GEX-8000’s absence of carbon emissions reflect a safer option for the workplace, operators, and the local community.

    Future Outlook for GTEC

    Armed with the upcoming commercialization and proliferation of its new products in a prime market, GTEC is poised to continue its trajectory of success. The company is keen to usher in further growth with its continued efforts to maximize market penetration. Current and potential investors are hopeful that management will continue to leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.

  • Greenland Technologies Holding Corp. (GTEC) Stock Undergoes Minor Volatility Despite Launch of EV Pre-Booking

    Greenland Technologies Holding Corp. (GTEC) Stock Undergoes Minor Volatility Despite Launch of EV Pre-Booking

    Greenland Technologies Holding Corp. (GTEC) stock prices were down by 4.62% shortly after market trading commenced on June 16th, 2021, bringing the price per share down to USD$9.07 early on in the trading day.

    Launch of EV Pre-Booking

    The company announced on June 15th, 2021 that it had launched an online EV pre-booking service for its new vehicles, the GEL-1800 1.8 ton Electric Loader and the GEX-8000 Electric Excavator. Delivery of the vehicles is expected to commence in August 2021, ahead of the previous forecasted schedule. The company website offers more information, as well as the facility to pre-book a vehicle with a USD$250 refundable deposit.

    Pre-Booking Success

    Initial interest in electric vehicles has been very strong, with interest expected to grow as GTEC expands its catalogue of offerings with the introduction of new electric vehicles and raising of awareness. The upcoming launches are expected to be highly disruptive in the absence of alternative industrial electric vehicles on the market. The opening of pre-bookings allows customers to incorporate products into their existing budget cycles as forecasts while offering the company increased visibility and ramp production.

    GEL-1800 Electric Loader

    The company’s GEL-1800 Electric Loader boasts a loading capacity of almost 1800 kg and is equipped with an impressive 144 kWh lithium battery. The vehicle is designed to be used in a myriad of applications, including, but not limited to, construction, mining, farming, and industrial.

    GEX-Electric Excavator

    The GEX-Electric Excavator, on the other hand, is an 8 ton electric excavator with the power to get the toughest of jobs done without the generation of the pollution associated with traditional internal combustion engines. The absence of carbon emissions generated through the operation of the GEX-8000 points to a safer option for the workplace, operators, and the local community.

    Future Outlook for GTEC

    Armed with the pending commercialization and proliferation of its new products in a market that is ripe for the taking, GTEC is poised to continue its trajectory of success. The company is keen to usher in further growth as it continues to push for increased market penetration. Current and potential investors are hopeful that management will continue to leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.