Washington, D.C. 20549








Date of Report (Date of earliest event reported): October 28, 2019


Greenland Technologies Holding Corporation

(Exact name of registrant as specified in its charter)


British Virgin Islands   001-38605   N/A
(State or other jurisdiction
of incorporation)
  (Commission File Number)   (IRS Employer
Identification No.)

11-F, Building #12, Sunking Plaza, Gaojiao Road

Hangzhou, Zhejiang, People’s Republic of China 311122

(Address of principal executive offices, including zip code)


Registrant’s telephone number, including area code: (86) 010-53607082


Greenland Acquisition Corporation

Suite 906, Tower W1, Oriental Plaza
No. 1 East Chang’an Street, Dongcheng District
Beijing, People’s Republic of China 100006

(Former name or former address, if changed since last report)


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:


Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).


Emerging growth company ☒


If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐


Securities registered pursuant to Section 12(b) of the Act:


Title of Each Class   Trading Symbol(s)   Name of Each Exchange on Which Registered
Ordinary shares, no par value   GLAC   The NASDAQ Stock Market LLC
Warrants to purchase one-half of one ordinary share   GLACW   The NASDAQ Stock Market LLC







Item 8.01Other Events


On October 28, 2019, Greenland Technologies Holding Corporation, formerly known as Greenland Acquisition Corporation, (the “Company”) issued a press release announcing that its operating company in China, Zhejiang Zhongchai Machinery (“Zhongchai”), recently completed moving out of its leased facility and into a newly-constructed modern manufacturing facility in Shaoxing. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.


The information reported under this Item 8.01 of Form 8-K, including Exhibit 99.1, is being furnished and shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of such section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.


Item 9.01Financial Statements and Exhibits


(d) Exhibits.


Exhibit Number   Exhibit
99.1   Press Release, dated October 28, 2019







Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


Dated: October 28, 2019 By: /s/ Raymond Z. Wang
    Name: Raymond Z. Wang
    Title: Chief Executive Officer and President






Exhibit 99.1


Greenland Technologies Holding Corporation Completes Its Move to a New Manufacturing Facility


New York, NY, October 28, 2019 — Greenland Technologies Holding Corporation, formerly known as Greenland Acquisition Corporation (the “Company” or “Greenland”) (Nasdaq: GLAC) announces that its operating subsidiary in China, Zhejiang Zhongchai Machinery (“Zhongchai”) has recently completed moving out of its leased facility and into a newly-constructed modern manufacturing facility in Shaoxing, China. This new facility is owned by Zhongchai and boasts an annual production capacity of 200,000 sets of transmission systems, as compared to 80,000 sets in the previous facility, a 150% increase. Additionally, this new facility features high precision and high efficient manufacturing capability.


Peter Zuguang Wang, the Chairman of the Company, remarked, “This move will increase our production capability significantly and enable us to deliver more highly competitive products to the market and to produce robotic cargo carriers in the near future.”


About Greenland


Greenland Technologies Holding Corporation is a British Virgin Islands company. It is a developer and manufacturer of traditional transmission products for material handling machineries and a developer of a robotic cargo carrier prototype expected to be available for commercial use in the near future in China.


Forward-Looking Statements


This press release contains statements that may constitute “forward-looking statements.” Forward-looking statements are subject to numerous conditions, many of which are beyond the control of Greenland, including those set forth in the Risk Factors section of Greenland’s Annual Report on Form 10-K and Definitive Proxy Statement on Schedule 14A filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, Greenland’s expectations with respect to future performance and anticipated financial impacts of the business transaction.


Greenland undertakes no obligation to update these statements for revisions or changes after the date of this release, except as may be required by law.


Such forward-looking statements relate to future events or future performance, but reflect the parties’ current beliefs, based on information currently available. Certain of these factors are outside the parties’ control and may be difficult to predict. A number of factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements. Factors that may cause such differences include: business conditions; natural disasters; changing interpretations of U.S. Generally Accepted Accounting Principles; outcomes of government reviews; inquiries and investigations and related litigation; continued compliance with government regulations; changes in legislation or regulatory environments, requirements or changes adversely affecting the businesses of Greenland,; difficulties in maintaining and managing continued growth; restrictions on the ability to make dividend payments;, general economic conditions; geopolitical events and regulatory changes; and the failure to maintain the listing of Greenland’s securities on the Nasdaq Stock Market.


The foregoing list of factors is not exclusive. Additional information concerning these and other risk factors are contained in Greenland’s filings with the SEC. Readers are cautioned not to place undue reliance upon any forward-looking statements in this press release, which speak only as of the date made. The Company does not undertake or accept any obligation or undertaking to publicly update or revise any forward-looking statements in this press release to reflect any change in their expectations or any change in events, conditions or circumstances on which any such statement is based, except as may be required by law. Nothing contained herein constitutes or will be deemed to constitute a forecast, projection or estimate of the future financial performance of the Company following the closing of the Business Combination or otherwise.


Company Contact:


Greenland Technologies Holding Corporation

Jing Jin

+86 182-6810-4220