Greenland Technologies Holding Corp
Electric Vehicles – Fork Lifts – Back Hoe
These shares have consolidated at current levels which we feel have created an undervalued opportunity for investors with a yearly high of $26.42 and Q2 revenues growing at a rate of 70.1% this company has all the right stuff Strong Buy
This company has strong Institutional ownership
We see resistance at the $10.00 and $15.00 levels, with a double and triple from current levels. There is limited short interest in these shares at the present time . We urge all serious investors to immediately place these shares on their BUY LIST
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- Greenland Technologies Holding Corp
FY21 revenue growth of 70.1% year-on-year to $28.2 million, beating the analyst consensus of $20.6 million.
- Significant sales volume increased from the continuously growing market demand, and the ability to boost supplies drove the growth.
- The number of transmission products sold increased 48.5% Y/Y to 42,046 units.
- Margins: The gross margin expanded 280 bps to 20.2% due to a shift in the product mix towards the higher value and more sophisticated products like the hydraulic transmission.
- The operating margin rose 60 bps to 8% due to higher costs.
- Net income rose 114.2% Y/Y to $3.2 million. EPS of $0.26 beat the analyst consensus of $0.11.
- Greenland held $20.5 million in cash and equivalents.
- Greenland benefitted from strong demand as forklifts were the ultimate necessity for clients moving raw materials, components, and finished goods through a global supply chain to meet accelerating growth.
- Guidance: Greenland raised FY21 revenues from $80 million – $90 million to $90 million – $100 million, implying 35% – 49% Y/Y growth against the analyst consensus of $90.8 million.
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