Greenland Technologies Holding Corporation (NASDAQ: GTEC) became effective on the Nasdaq Capital Market on February 24, 2026, when the company amended its memorandum and articles of association to re‑classify ordinary shares into Class A ordinary shares with one vote each and Class B ordinary shares with 25 votes each. The change takes effect with the opening of trading on February 24, 2026, and Class A shares will trade under the same symbol “GTEC” and CUSIP G4095T107.
The company, a developer and manufacturer of electric industrial vehicles and drivetrain systems, had recently completed a public offering of units in late January 2026 that raised approximately $6.1 million. The dual‑class structure follows shareholder approval of the new memorandum and articles of association and share reclassification in late January, underscoring a broader effort to strengthen governance and support future capital‑raising initiatives.
By granting Class B shareholders 25 votes per share, the structure allows a select group of shareholders—typically founders or early investors—to maintain control even with a minority of the total equity. While this can provide stability for long‑term strategic initiatives, it also raises concerns among ordinary shareholders about diluted voting power and potential misalignment of interests. The change is therefore a significant corporate governance event that may influence investor sentiment and perceptions of management’s control over the company’s direction.
No specific market‑reaction data were identified in the fact‑check report, but the governance shift is likely to be closely watched by investors and analysts as it signals a strategic decision to consolidate control and potentially facilitate future financing or strategic moves.
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