Greenland Technologies Holding Corporation (NASDAQ:GTEC) Q1 2023 Results Conference Call May 19, 2023 8:00 AM ET
Company Participants
Raymond Wang - Chief Executive Officer
Conference Call Participants
Theodore O'Neill - Litchfield Hills Research
Rommel Dionisio - Aegis Capital
Graham Mattison - Water Tower Research
Operator
Good day, ladies and gentlemen. Thank you for standing by, and we warmly welcome you all to the Greenland Technologies First Quarter 2023 Earnings Conference Call. [Operator Instructions]. As a reminder, we are recording today's call. If you have any objections, you may disconnect at this time.
Now I'll turn the call over to Joston Sami [ph], Investor Relations Director of Greenland. Mr. Sami, please proceed.
Unidentified Company Representative
Thank you, operator, and hello, everyone. Welcome to Greenland Technologies first quarter 2023 earnings conference call. Joining us today is Mr. Raymond Wang, Chief Executive Officer. We released results earlier today. The press release is available on the company's IR website at ir.gtec-tech.com as well as from Newswire services.
A replay of this call will also be available in a few hours on our IR website. Before we continue, please note that today's discussion will contain forward-looking statements made under the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements involve inherent risks and uncertainties. As such, the company's actual results may be materially different from the expectations expressed today.
Further information regarding these and other risks and uncertainties is included in the company's public filings with the SEC. The company does not assume any obligation to update any forward-looking statements, except as required under applicable law. Also, please note that unless otherwise stated, all figures mentioned during the conference call are in U.S. dollars.
With that, let me now turn the call over to our CEO, Mr. Raymond Wang. Please go ahead, Mr. Wang.
Raymond Wang
Thank you, Josh, and good morning, everyone, and thank you for joining us today. I'll be handling a majority of this call as my CFO, Jing Jin, has lost his voice and is in no condition to contribute to today's call. I'd like to start by thanking our global team for continuing to drive the business during a difficult global market and continuing to develop a more efficient operation.
As expected and stated during our last earnings call, our component business continues to recover from global market conditions in the first quarter. Again, this is due to the current market conditions and the material handling and manufacturing industry in China as OEMs recover and ramp up from the country's zero-tolerance policy.