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April 11, 2023, ST. PETERSBURG, FL – Water Tower Research (www.watertowerresearch.com) has published an Initiation of Coverage Report on Greenland Technologies Holding Corp. (NASDAQ: GTEC) titled, “Significant EV Opportunity with a Profitable and Growing Base Business”. The report can be accessed here.
Through its HEVI division, Greenland manufactures and sells lithium-ion battery powered construction equipment in North America. Its products are currently undergoing a demonstration program with United Rentals, other leading companies, and municipalities. The HEVI division builds upon Greenland’s profitable and growing base business as a leading Tier 1 supplier of transmissions and integrated electric drivetrains for more than 100 multinational and Chinese lift truck manufacturers.
Water Tower Research expects the financial performance of the company to rebound in 2023 as the extreme COVID-related lockdowns in China weighed on 2022 results. In addition, milestone announcements on the HEVI demonstration programs and any orders should prove to be catalysts for the shares.
Greenland offers investors a profitable and growing company with significant potential sales and earnings growth from its nascent EV division. The company has reported GAAP profits since its listing in 2019 and shares currently trade at 5.1x its 2022 earnings.
About Water Tower Research
Water Tower Research is modernizing Investor Relations through research-driven communications and Investor Engagement. Sound investment research begins with good information. At WTR, we help companies and investors connect by creating expert information flow and strategies that are the foundation of a successful modern investor relations platform. Our analysts and capital markets professionals bring decades of unrivaled Wall Street experience and insight to a new digital world of investor communications and engagement. Our research and investor content is distributed across traditional research aggregators like Bloomberg, FactSet, etc., proprietary direct distribution lists, social media, search engines, and our website. As a result, every institutional and retail investor has equal access to our high-quality company research. Our mission is to help companies take control of their IR program and proactively reach investors while bringing investors a consistent flow of quality information to help them understand our clients’ businesses, industries, and the investment opportunities they present.
