GTEC - Greenland Technologies jumps 9% premarket after provides nearly doubled preliminary revenue growth for Q1

Greenland Technologies (GTEC) +8.9% premarket after reported 1Q21 preliminary revenue doubled Y/Y.The unit sales of the Company's transmission boxes also doubled in the Q1, as compared to a year ago, mainly due to continued growth led by the reopening and rebound of the broader economy, along with the Company's successful introduction of new products."Doubling of our revenue on a year over year basis is impressive but we are even more excited about the expected sequential growth in the first quarter of 2021 compared to the fourth quarter of 2020. This would make the first quarter of 2021 the highest revenue quarter in the Greenland's history," says Raymond Wang, CEO.The Company plans to release financial results for the first quarter of 2021 in mid-May.

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Greenland Technologies jumps 9% premarket after provides nearly doubled preliminary revenue growth for Q1