Greenland Technologies Holding Corp. Files Amendment to Annual Report

TL;DR

<b>Greenland Technologies Holding Corp. has filed an amendment to its 2022 annual report on Form 10-K/A.</b>

AI Summary

Greenland Technologies Holding Corp. (GTEC) filed a Amended Annual Report (10-K/A) with the SEC on April 17, 2024. Greenland Technologies Holding Corp. filed an amendment (10-K/A) to its annual report for the fiscal year ended December 31, 2022. The company's ordinary shares trade under the symbol GTEC on The Nasdaq Stock Market LLC. The filing was made on April 17, 2024. The company was formerly known as Greenland Acquisition Corp. and changed its name on March 20, 2018. Greenland Technologies Holding Corp. is incorporated in the British Virgin Islands.

Why It Matters

For investors and stakeholders tracking Greenland Technologies Holding Corp., this filing contains several important signals. This amendment provides updated information for the fiscal year ending December 31, 2022, which is crucial for investors to have the most current financial and operational details. As a publicly traded company on Nasdaq, timely and accurate filings are essential for maintaining investor confidence and regulatory compliance.

Risk Assessment

Risk Level: low — Greenland Technologies Holding Corp. shows low risk based on this filing. The filing is an amendment to a previous report, indicating potential corrections or additions rather than new material events, thus posing a low immediate risk.

Analyst Insight

Investors should review the specific changes made in this 10-K/A filing to understand any updated disclosures or restatements.

Key Numbers

• 2022-12-31 — Fiscal Year End (Period covered by the 10-K/A filing)
• 2024-04-17 — Filing Date (Date the amendment was filed)
• 001-38605 — Commission File Number (SEC file number for the registrant)

Key Players & Entities

• Greenland Technologies Holding Corp. (company) — Registrant
• Greenland Acquisition Corp. (company) — Former company name
• The Nasdaq Stock Market LLC (company) — Exchange where shares are registered
• GTEC (company) — Trading symbol
• 2024-04-17 (date) — Filing date
• 2022-12-31 (date) — Fiscal year end

FAQ

Industry Context

Greenland Technologies Holding Corp. operates in the industrial machinery sector, focusing on specialized equipment.

Regulatory Implications

The company is subject to SEC regulations for public companies, including requirements for annual and amended filings.

What Investors Should Do

1. Review the specific amendments made in the 10-K/A filing for any changes to financial statements or disclosures.
2. Verify the company's compliance status and any updated risk factors mentioned in the amendment.
3. Monitor future filings for any further updates or significant developments from Greenland Technologies Holding Corp.

Key Dates

• 2022-12-31: Fiscal Year End — The period for which the annual report (amended) is filed.
• 2024-04-17: Filing Date — Date of the 10-K/A amendment filing.

Year-Over-Year Comparison

This is an amendment (10-K/A) to the previously filed annual report for the fiscal year ended December 31, 2022.

Key Financial Figures

• $11.50 — ordinary share at an exercise price of $11.50 per share. The units were sold in our i
• $10.00 — public offering at an offering price of $10.00 per unit, generated $44,000,000 (before
• $44,000,000 — ing price of $10.00 per unit, generated $44,000,000 (before underwriting discounts and offe
• $2,820,000 — he Sponsor and Chardan, which generated $2,820,000 in gross proceeds. We also sold to Char
• $100 — old to Chardan (and its designees), for $100, an option to purchase up to 240,000 un
• $2,760,000 — unit (or an aggregate exercise price of $2,760,000) commencing on consummation of the Busi
• $98.84 million — 's revenue decreased from approximately $98.84 million in the fiscal year 2021 to $90.83 milli
• $90.83 million — 8.84 million in the fiscal year 2021 to $90.83 million in the fiscal year 2022. The decrease i
• $8.01 m — nd's revenue decreased by approximately $8.01 million, or approximately 8.1%, to approx
• $98.84 million — d December 31, 2022, from approximately $98.84 million for the fiscal year ended December 31,
• $8.25 m — f goods sold decreased by approximately $8.25 million, or approximately 10.4%, to appro
• $71.00 million — r approximately 10.4%, to approximately $71.00 million for the fiscal year ended December 31,
• $79.25 million — d December 31, 2022, from approximately $79.25 million for the fiscal year ended December 31,
• $0.24 m — gross profit increased by approximately $0.24 million, or 1.2%, to approximately $19.83
• $19.83 million — 0.24 million, or 1.2%, to approximately $19.83 million for the fiscal year ended December 31,

Filing Documents

• ea0204008-10ka1_green.htm (10-K/A) — 1180KB
• ea020400801ex23-1_green.htm (EX-23.1) — 3KB
• ea020400801ex31-1_green.htm (EX-31.1) — 10KB
• ea020400801ex31-2_green.htm (EX-31.2) — 10KB
• ea020400801ex32-1_green.htm (EX-32.1) — 3KB
• ea020400801ex32-2_green.htm (EX-32.2) — 3KB
• ex23-1_001.jpg (GRAPHIC) — 8KB
• 0001213900-24-033796.txt (&nbsp;) — 7990KB
• gtec-20221231.xsd (EX-101.SCH) — 128KB
• gtec-20221231_cal.xml (EX-101.CAL) — 58KB
• gtec-20221231_def.xml (EX-101.DEF) — 396KB
• gtec-20221231_lab.xml (EX-101.LAB) — 715KB
• gtec-20221231_pre.xml (EX-101.PRE) — 418KB
• ea0204008-10ka1_green_htm.xml (XML) — 1033KB

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 1 ITEM 8.

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA F-1 PART III ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 11 PART IV ITEM 15. EXHIBITS, FINANCIAL STATEMENT SCHEDULES 13

SIGNATURES

SIGNATURES 15 i PART II

MANAGEMENT'S DISCUSSION AND

ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS OF GREENLAND TECHNOLOGIES HOLDING CORPORATION The following discussion and analysis of financial condition and results of operations relates to the operations and financial condition reported in the consolidated financial statements of the Company thereto, which appear elsewhere in this Amendment,, and should be read in conjunction with such financial statements and related notes included in this Amendment.. Except for the historical information contained herein, the following discussion, as well as other information in the Original Form 10-K, contain "forward-looking statements," within the meaning of Section 27A of the Securities Act, and Section 21E of the Exchange Act, and are subject to the "safe harbor" created by those sections. Actual results and the timing of the events may differ materially from those contained in these forward-looking statements due to many factors, including those discussed in the "Cautionary Note Regarding Forward-Looking Statements" set forth elsewhere in the Original Form 10-K. Overview The Company was incorporated on December 28, 2017 as a British Virgin Islands Company with limited liability. The Company was incorporated as a blank check company for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, recapitalization, reorganization or similar business combination with one or more target businesses. Following the Business Combination (as described below) in October 2019, the Company changed its name from Greenland Acquisition Corporation to Greenland Technologies Holding Corporation. On July 27, 2018, we consummated our initial public offering of 4,400,000 units, including a partial exercise by the underwriters of their over-allotment option in the amount of 400,000 units. Each unit consists of one ordinary share, no par value, one warrant to purchase one-half of one ordinary share, and one r

View Full Filing

View this 10-K/A filing on SEC EDGAR