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Greenland Technologies Holding Corporation Reports First Quarter 2021 Unaudited Financial Results
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First Quarter Net Income of $2.4 million, up 644.7% year over year
EAST WINDSOR, N.J., May 12, 2021 /PRNewswire/ 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.
Greenland Technologies to Report First Quarter 2021 Unaudited Financial Results on Wednesday, May 12, 2021
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EAST WINDSOR, N.J., May 7, 2021 /PRNewswire/ 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 that it will report its first quarter 2021 unaudited financial results on Wednesday, May 12, 2021, before the U.S. market opens.
Greenland s management team will host an earnings conference call at 8:30 AM on Wednesday, May 12, 2021, U.S. Eastern Time (8:30 PM on May 12, 2021, Beijing/Hong Kong Time).
Please register in advance of the conference using the link provided below. Conference access information will be provided upon registration.
Company Overview
About Greenland Technologies Holding CorporationGreenland 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.
Company Details
Greenland Technologies Holding Corporation
The development of electric power in construction equipment is gaining ground, with Greenland Technologies Holding Corporation, a technology developer and manufacturer of electric industrial vehicles and drivetrain systems for material-handling machineries and vehicles, claiming its place in the sector. In late March, it announced completion of full beta versions of its GEL-1800 Electric Loader, its first electric industry vehicle, along with the intent to transition to construction of pilot production representative versions in the second half of 2021.
Raymond Wang, CEO of Greenland, views the move as a major milestone for the organization. “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,” he commented.