Greenland Technologies Holding Corporation (NASDAQ: GTEC) watched its shares accelerate Wednesday, as the technology developer and manufacturer of electric industrial vehicles and drivetrain systems for material handling machineries and vehicles, today announced that Chief Executive Officer, Raymond Wang, has purchased an additional 66,500 ordinary shares of the Company's in the open market for approximately $99,500. Following this transaction, Wang holds in aggregate, approximately 3.3% of the Greenland Technologies' public float.
Wang commented, "Over the past year, we have made significant progress building out our operations and expanding our footprint in the electric industrial vehicles sector with our HEVI division. Simultaneously, we've strategically bolstered our balance sheet with opportunistic financing. My belief in the vision, strategy and future of Greenland Technologies has never been stronger and we remain dedicated to maximizing shareholder value for years to come."
Last week, Greenland was in the news, on announcing quarterly financial figures. Revenue was $22.1 million , compared with $29.3 million a year ago.
Gross margin was 24.9%, up 320 basis points from 21.7% a year ago on improved product mix.
Net income was $2.5 million, compared with $2.9 million in the first quarter of 2022.
Transmissions products sold were 36,841 units, compared with 41,902 units last year.
GTEC shares took on 14 cents, or 9.1%, to $1.68.
