EAST
WINDSOR, N.J., April 12,
2023 /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 that Water Tower Research LLC ("Water Tower"), a
prominent equity research firm, has initiated coverage on the
Company.
The Initiation report highlights that Greenland is a leading Tier 1 supplier of
transmissions, integrated electric drivetrains, and all-electric
construction equipment. With the significant EV opportunity and its
growing base business, Water Tower expects revenue and
profitability to rebound in 2023.
Raymond Wang, CEO of Greenland
Technologies commented, "We are excited Water Tower has decided to
initiate coverage on Greenland,
recognizing our strong growth trajectory and commitment to
innovation and transformation in the EV industrial heavy equipment
market. We believe their research coverage will help investors
better understand our business model, strategic vision, as well as
the value we bring to the market."
About Greenland Technologies Holding Corporation
Greenland Technologies Holding Corporation (NASDAQ: GTEC)
is a developer and a manufacturer of drivetrain systems for
material handling machineries and electric vehicles, as well as
electric industrial vehicles. Information on the Company's clean
industrial heavy equipment division can be found at HEVI
Corp.
Safe Harbor Statement
This press release contains statements that may constitute
"forward-looking statements." Such statements reflect Greenland's current views with respect to
future events and are subject to such risks and uncertainties, many
of which are beyond the control of Greenland, including those set forth in the
Risk Factors section of Greenland's Annual Report on Form 10-K and
Definitive Proxy Statement on Schedule 14A filed with the
Securities and Exchange Commission ("SEC"). Copies are available on
the SEC's website, www.sec.gov. Words such as "expect," "estimate,"
"project," "budget," "forecast," "anticipate," "intend," "plan,"
"may," "will," "could," "should," "believes," "predicts,"
"potential," "continue," and similar expressions are intended to
identify such forward-looking statements. These forward-looking
statements include, without limitation, Greenland's expectations with respect to
future performance. In addition, there is uncertainty about the
further spread of the COVID-19 virus or the occurrence of another
wave of cases and the impact it may have on the Company's
operations, the demand for the Company's products, global supply
chains and economic activity in general. Should one or more of
these risks or uncertainties materialize, or should assumptions
underlying the forward-looking statements prove incorrect, actual
results may vary materially from those described herein as
intended, planned, anticipated or expected. Statements contained in
this news release regarding past trends or activities should not be
taken as a representation that such trends or activities will
continue in the future. Greenland
does not intend and does not assume any obligation to update these
forward-looking statements, other than as required by law.
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SOURCE Greenland Technologies Holding Corporation