Company overview

Greenland Technologies Holding Corporation supplies the systems that transmit power to move forklifts used in manufacturing and logistics. Its main business operates through Chinese subsidiaries, including Zhejiang Zhongchai, which designs, manufactures and sells transmissions directly to forklift makers in China. It also supplies some electric-forklift manufacturers with integrated units combining a motor, reduction gearbox and drive axles. A small group of large customers contributes a substantial share of revenue; Hangcha Group is the largest, followed by Longgong Forklift Truck. Most customers receive relatively long payment terms, so collecting payments matters to cash flow.

Its U.S. subsidiary, HEVI, previously sold electric heavy industrial equipment assembled in the United States using Chinese components. HEVI has substantially suspended operations and is not currently offering its equipment because of tariff-policy uncertainty. It intends to resume when policy stabilizes, but the timing remains uncertain.

The company is a British Virgin Islands holding company with no material operations of its own. Cash reaching the parent from its Chinese subsidiaries is subject to dividend and currency-transfer rules: subsidiaries can distribute only accumulated profits after required reserves, and controls on currency conversion and remittances can limit the use of that cash abroad.