$格陵兰科技控股(GTEC)$ HOWELL, N.J., Jan. 13, 2021 /PRNewswire/ -- Greenland Technologies Holding Corporation (NASDAQ:GTEC) ("Greenland"), a technology developer and manufacturer of forklift transmissions and drivetrain systems, announced today select preliminary results, which are subject to final audit, indicate revenue for the fourth quarter of 2020 ended December 31, 2020 increased by approximately 25.5% to approximately $73.2 million when compared to $58.3 million in revenue for the same period one year ago. Preliminary results, indicated sales of the Company's transmission boxes increased by roughly 63%, or approximately 35,406 units sold in the fourth quarter of 2020, as compared to 21,676 units sold in the fourth quarter of 2019. The increase in the number of units of transmissions boxes sold translated into an increase in revenue that was more than 50% when compared to the same quarter in the prior year. Revenue from the sales of Greenland's other bridge box assemblies grew by more than 100%, from 243 units in the fourth quarter of 2019 to an expected 503 units in the fourth quarter of 2020. The increase in sales of bridge box assemblies resulted in revenue growth for this product line of approximately 30% when compared to the same period in 2019. Raymond Wang, CEO of Greenland, commented, "We are encouraged by the acceleration in our revenue growth in the fourth quarter of 2020, as we benefit from both strong company and market fundamentals. We expect our business momentum will continue through 2021 given the fact that our growth is coming from a diversified product mix and customer base. We remain focused on unlocking Greenland's true value as we execute on our business strategy, which calls for more aggressive sales of our existing forklift and drivetrain systems, while ramping sales of our new, next generation lithium battery powered integrated drive train targeting the attractive electric vehicle market." Greenland's new integrated drive train system for electric forklift trucks is being manufactured in its state-of-the-art 485,000 square foot factory located in the coastal city of Xinchang, China. The facility is equipped with advanced manufacturing capabilities for precision processes and new product development. The site has the capacity to produce up to 200,000 sets of drivetrain systems annually.