Greenland Technologies (GTEC) Registration Filing summary

Company overview and business model

• Designs, develops, manufactures, and sells transmission products for forklift trucks and electric industrial vehicles, serving over 100 forklift manufacturers in China and globally.

• Operates through subsidiaries in the U.S., PRC, and Hong Kong, with a focus on material handling and sustainable heavy equipment.

• U.S. subsidiary HEVI produces electric industrial vehicles and mobile DC battery chargers for the North American market.

• Corporate structure includes a British Virgin Islands holding company with no material operations of its own.

Financial performance and metrics

• Sold 123,856 and 114,075 sets of transmission products in the nine months ended September 30, 2025 and 2024, respectively.

• Sold 149,597 and 149,543 sets of transmission products in fiscal years ended December 31, 2024 and 2023, respectively.

• As of September 30, 2025, cash was $3.94 million; pro forma for the offering and full warrant exercise, cash would be $9.69 million.

• Shareholders’ equity as of September 30, 2025 was $75.4 million, or $81.2 million as adjusted for the offering and full warrant exercise.

Use of proceeds and capital allocation

• Estimated net proceeds of $5.75 million, after deducting underwriting discounts and expenses.

• Proceeds intended for working capital and general corporate purposes.

• Management has broad discretion over the use of proceeds.