UNITED STATES
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FORM
CURRENT REPORT
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Item 8.01 Other Events.
Through a press release dated February 14, 2024, Greenland Technologies Holding Corporation (the “Company”) announced that its board of directors approved a spin-off of its drivetrain systems business, and approved a plan to separate its electric industrial vehicles and drivetrain systems segments into two independent, publicly-traded companies through a spin-off of its drivetrain systems segment to the Greenland shareholders.
On June 28, 2024, the Company’s board of directors held a board meeting, during which the directors of the Company unanimously approved a decision to terminate its previously announced plan of spinning off its drivetrain systems segment. After due diligence review, the Company’s board of directors has identified that the spin-off would likely not generate significant value to its shareholders due to changing market conditions.
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SIGNATURES
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.
| Greenland Technologies Holding Corporation | ||
| Date: July 24, 2024 | By: | /s/ Raymond Z. Wang |
| Name: | Raymond Z. Wang | |
| Chief Executive Officer | ||
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