Greenland Technologies (GTEC) was trading lower Monday despite doubling its 2021 first quarter revenue. Shares of the company were trading lower -1.42% to $11.18 a share
What's Going On With Greenland Technologies?
Greenland technologies, a tech developer and manufacturer of electric industrial vehicles and drivetrain systems for material handling machineries and vehicles, saw its stock dip despite announcing revenue for the first quarter of 2021 doubled compared to the same period last year. The company attributes this growth to similar trends it experienced in 2020.
What Does This Mean For Greenland Technologies?
Greenland Technologies Raymond Wang, is pleased with the growth, saying "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."
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.
GTEC has an Overall Score of 29. Find out what this means to you and get the rest of the rankings on GTEC!
Greenland Technologies Holding Corp is a developer and manufacturer of traditional transmission products for material handling machinery and a developer of a robotic cargo carrier prototype for commercial use. It is also going to develop electric industrial vehicles. It caters to manufacturers of material handling equipment, primarily forklift trucks. The company generates the majority of its revenue from China.
