Form SC 13D/A Greenland Technologies Filed by: Cenntro Holding Ltd

June 23, 2021 4:16 PM EDT

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SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

SCHEDULE 13D

 

(AMENDMENT NO. 3)

 

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT

TO § 240.13d-1(a) AND AMENDMENTS THERETO FILED

PURSUANT TO § 240.13d-2

 

UNDER THE SECURITIES EXCHANGE ACT OF 1934

 

Greenland Technologies Holding Corporation

(Name of Issuer)

 

Ordinary shares, no par value

(Title of Class of Securities)

 

G4095T107

(CUSIP Number)

 

June 22, 2021

(Date of Event Which Requires Filing of this Statement)

 

If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box ☐

 

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

 

 

 

CUSIP No. G4095T107    

 

1

Name of Reporting Person

Cenntro Holding Limited

2

Check the Appropriate Box if a Member of a Group

(a) ☒

(b) ☐

3

SEC Use Only

 

4

Source of Funds

 

OO

5

Check the Box if Disclosure of Legal Proceedings is Required Pursuant to Item 2(d) or 2(e)

 

6

Citizenship or Place of Organization

Hong Kong Special Administrative Region of the People’s Republic of China (“Hong Kong”)

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With
5

Sole Voting Power

 0

6

Shared Voting Power

6,731,949 (1)

7

Sole Dispositive Power

0

8

Shared Dispositive Power

6,731,949 (1)

9

Aggregate Amount Beneficially Owned by Each Reporting Person

6,731,949 (1)

10

Check if the Aggregate Amount in Row (9) Excludes Certain Shares  ☐

 

11

Percent of Class Represented by Amount in Row 9

64.03% (2)

12

Type of Reporting Person


FI

       

 

(1)Represents 6,731,949 ordinary shares held by Cenntro Holding Limited, a Hong Kong company (“Cenntro Holding”), which is directly and wholly owned by Cenntro Enterprise Limited, a Hong Kong company (“Cenntro Enterprise”), which is directly and wholly owned by Peter Zuguang Wang, the chairman of the board of directors of the Issuer.

 

(2)The beneficial ownership percentage is calculated based on 10,513,327 ordinary shares of the Issuer issued and outstanding as of the date of this filing.

 

2

 

 

CUSIP No. G4095T107    

 

1

Name of Reporting Person

Cenntro Enterprise Limited

2

Check the Appropriate Box if a Member of a Group

(a) ☒

(b) ☐

3

SEC Use Only

 

4

Source of Funds

 

OO

5

Check the Box if Disclosure of Legal Proceedings is Required Pursuant to Item 2(d) or 2(e)

 

6

Citizenship or Place of Organization

Hong Kong

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With
5

Sole Voting Power

 0

6

Shared Voting Power

6,731,949 (1)

7

Sole Dispositive Power

0

8

Shared Dispositive Power

6,731,949 (1)

9

Aggregate Amount Beneficially Owned by Each Reporting Person

6,731,949 (1)

10

Check if the Aggregate Amount in Row (9) Excludes Certain Shares  ☐

 

11

Percent of Class Represented by Amount in Row 9

64.03% (2)  

12

Type of Reporting Person


FI

       

 

(1)Represents 6,731,949 ordinary shares directly held by Cenntro Holding, which is directly and wholly owned by Cenntro Enterprise, which is directly and wholly owned by Peter Zuguang Wang, the chairman of the board of directors of the Issuer.

 

(2)The beneficial ownership percentage is calculated based on 10,513,327 ordinary shares of the Issuer issued and outstanding as of the date of this filing.

 

3

 

CUSIP No. G4095T107    

 

1

Name of Reporting Person

Peter Zuguang Wang

2

Check the Appropriate Box if a Member of a Group

(a) ☒

(b) ☐

3

SEC Use Only

 

4

Source of Funds

 

OO

5

Check the Box if Disclosure of Legal Proceedings is Required Pursuant to Item 2(d) or 2(e)

 

6

Citizenship or Place of Organization

United States of America

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With
5

Sole Voting Power

 2,500 (1)

6

Shared Voting Power

6,731,949 (2)

7

Sole Dispositive Power

2,500 (1)

8

Shared Dispositive Power

6,731,949 (2)

9

Aggregate Amount Beneficially Owned by Each Reporting Person

6,734,449 (1)(2)

10

Check if the Aggregate Amount in Row (9) Excludes Certain Shares  ☐

 

11

Percent of Class Represented by Amount in Row 9

64.06% (3)

12

Type of Reporting Person


IN

       

 

(1)Represents 2,500 ordinary shares directly held by Peter Zuguang Wang.

 

(2)Represents 6,731,949 ordinary shares directly held by Cenntro Holding, which is directly and wholly owned by Cenntro Enterprise, which is directly and wholly owned by Peter Zuguang Wang, the chairman of the board of directors of the Issuer.

 

(3)The beneficial ownership percentage is calculated based on 10,513,327 ordinary shares of the Issuer issued and outstanding as of the date of this filing.

4

 

 

Explanatory Note

 

This amendment No. 3 (the “Amendment”) to the 13D is filed to amend and supplement the statement on Schedule 13D, initially filed with the Securities and Exchange Commission (the “SEC”) on November 4, 2019 (together with any amendments thereto filed with the SEC, the “Schedule 13D”).

 

This Schedule 13D (this “Schedule 13D”) is being filed on behalf of Cenntro Holding Limited, a Hong Kong company (“Cenntro Holding”), Cenntro Enterprise Limited, a Hong Kong company (“Cenntro Enterprise”) the sole director and shareholder of Cenntro Holding, and Peter Zuguang Wang, the sole director and shareholder of Cenntro Enterprise (collectively, the “Cenntro Holding Group” or “Reporting Persons”), relating to ordinary shares, no par value (“Ordinary Shares”) of Greenland Technologies Holding Corporation, a British Virgin Islands company (the “Issuer”).

 

This Amendment is being filed because the Ordinary Shares beneficially owned by the Reporting Persons has decreased by an amount in excess of one percent of the total number of Ordinary Shares outstanding. Except as otherwise set forth in this Amendment, the information set forth in the Schedule 13D remains unchanged and is incorporated herein by reference to the extent relevant to the items in this Amendment. This Amendment should be read together with the Schedule 13D.

 

Item 1. Security and Issuer 

 

Securities acquired: Ordinary Shares, no par value per share
   
Issuer:

Greenland Technologies Holding Limited

50 Millstone Road, Building 400 Suite 130

East Windsor, NJ 08512

United States

 

Item 2. Identity and Background

 

(a)-(b) This Schedule 13D is jointly filed by Cenntro Holding, Cenntro Enterprise, and Peter Zuguang Wang.  Because Cenntro Enterprise is the director and sole shareholder of Cenntro Holding, Peter Zuguang Wang is the director and sole shareholder of Cenntro Enterprise (with Cenntro Holding, Cenntro Enterprise, and Peter Zuguang Wang hereinafter referred to as the “Controlling Persons”), the Controlling Persons may be deemed, pursuant to Rule 13d-3 of the Act, to be the beneficial owners of all of the Ordinary Shares held by Cenntro Holding.

 

Each of the persons identified in this Schedule 13D is sometimes referred to as a “Reporting Person” and, collectively, as the “Reporting Persons.”  Each of the Reporting Persons is a party to that certain Joint Filing Agreement attached hereto as Exhibit 99.1.

 

The principal place of business for each of the Reporting Persons is 11-F, Building #12, Sunking Plaza, Gaojiao Road, Hangzhou, Zhejiang, China, 311122.

 

(c) The principal occupation of Peter Zuguang Wang is the chairman of the Board of Directors of the Issuer, as well as serving as the director and sole shareholder of Cenntro Enterprise. The principal business of Cenntro Enterprise is to be the director and the sole shareholder of Cenntro Holding and make security investment in other companies. The principal business of Cenntro Holding is to be a shareholder of the Issuer.

 

(d) During the last five years, none of the Reporting Persons have been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).

 

(e) During the last five years, none of the Reporting Persons have been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and, as a result of such proceeding, were or are subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

 

5

 

 

(f) Cenntro Holding and Cenntro Enterprise are organized under the laws of Hong Kong. Peter Zuguang Wang is a citizen of the United States.

 

Item 3. Source and Amount of Funds

 

On June 22, 2021, the Reporting Persons, through Cenntro Holding Limited, sold 500,000 Ordinary Shares through a private transaction.

 

Item 4. Purpose of the Transaction

 

The purpose of the acquisition is for investment only.

 

As of the date of this filing, the Reporting Persons do not have any plans or proposals which relate to or would result in:

 

(a) the acquisition by any person of additional securities of the Issuer;

 

(b) an extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving the Issuer or any of its subsidiaries;

 

(c) a sale or transfer of a material amount of assets of the Issuer or of any of its subsidiaries;

 

(d) any change in the present board of directors or management of the Issuer, including any plans or proposals to change the number of terms of directors or to fill any existing vacancies on the board;

 

(e) any material change in the present capitalization or dividend policy of the Issuer;

 

(f) any other material change in the Issuer’s business or corporate structure;

 

(g) changes in the Issuer’s charter, bylaws or instruments corresponding thereto or other actions which may impede the acquisition of control of the Issuer by any other person;

 

(h) causing a class of securities of the Issuer to be delisted from a national securities exchange or to cease to be authorized to be quoted in an inter-dealer quotation system of a registered national securities association;

 

(i) a class of equity securities of the Issuer becoming eligible for termination of registration pursuant to Section 12(g)(4) of the Act; or

 

(j) any similar action to those enumerated above.

 

As part of ongoing evaluation of their investment in the Issuer and investment alternatives, the Reporting Persons may consider such matters in the future and, subject to applicable law or other restrictions, may formulate other purposes, plans or proposals regarding the Issuer or Ordinary Shares that may be deemed to be beneficially owned by the Reporting Persons, or take any other actions that could involve one or more of the types of transactions or have one or more of the results described in clauses (a) through (j) of Item 4 of Schedule 13D.

 

6

 

 

Item 5. Interest in Securities of the Issuer

 

(a)-(b) Cenntro Holding beneficially owns 6,731,949 Ordinary Shares, which represents 64.03% of the Issuer’s outstanding Ordinary Shares. 

 

Cenntro Enterprise, who is the director and sole shareholder of Cenntro Holding, may be deemed to beneficially own the Ordinary Shares held by Cenntro Holding.

 

Peter Zuguang Wang, who is the director and sole shareholder of Cenntro Enterprise, may be deemed to beneficially own the Ordinary Shares held by Cenntro Holding. In addition, Peter Zuguang Wang directly owns 2,500 Ordinary Shares. Peter Zuguang Wang therefore beneficially owns 6,734,449 Ordinary shares, which represents 64.06% of the Issuer’s outstanding Ordinary Shares.

 

The percentage of beneficial ownership of the Reporting Persons, as reported in this Schedule 13D, was calculated by dividing (i) the total number of Ordinary Shares beneficially owned by each Reporting Person as set forth in this Schedule 13D by (ii) 10,513,327 Ordinary Shares outstanding as of the date of this filing.

 

(c) To the best knowledge of the Reporting Persons, except as disclosed in this Schedule 13D, none of the Reporting Persons has effected any transactions relating to the Ordinary Shares during the past 60 days.

 

(d) To the knowledge of the Reporting Persons, no person other than the Reporting Persons is known to have the right to receive, or the power to direct the receipt of dividends from, or proceeds from the sale of the Ordinary Shares.

 

(e) Not applicable.

 

Item 6. Contracts, Arrangements, Understandings or Relationships with Respect the Securities of the Issuer

 

The information set forth in Item 4 of this Schedule 13D is hereby incorporated by reference into this Item 6, as applicable.

 

Other than the foregoing agreements and arrangements and the Joint Filing Agreement, there are no contracts, arrangements, understandings or relationships among the persons named in Item 2 hereof and between such persons and any person with respect to any securities of the Issuer.

 

Item 7. Material to Be Filed as Exhibits

 

Exhibit No.   Description
99.1   Joint Filing Agreement

 

7

 

 

SIGNATURE

 

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

Dated: June 23, 2021

 

  Cenntro Holding Limited
   
  /s/ Peter Wang
  Name:   Peter Wang
  Title: Director
   
  Cenntro Enterprise Limited
   
  /s/ Peter Wang
  Name: Peter Wang
  Title: Director
   
  /s/ Peter Wang
  Name: Peter Wang

 

 

8

 

Exhibit 99.1

 

JOINT FILING AGREEMENT

 

In accordance with Rule 13d-1(k) promulgated under the Securities Exchange Act of 1934, as amended, the undersigned hereby agree to the joint filing with all other Reporting Persons (as such term is defined in the Schedule 13D referred to below) on behalf of each of them of a statement on Schedule 13D (including amendments thereto) with respect to the ordinary shares, no par value, of Greenland Technologies Holding Corporation, a Cayman Islands exempted company, and that this Agreement may be included as an exhibit to such joint filing. This Agreement may be executed in any number of counterparts, all of which taken together shall constitute one and the same instrument.

 

IN WITNESS WHEREOF, the undersigned hereby execute this Agreement as of June 23, 2021.

 

  Cenntro Holding Limited
   
  /s/ Peter Wang
  Name: Peter Wang
  Title: Director
   
  Cenntro Enterprise Limited
   
  /s/ Peter Wang
  Name:  Peter Wang
  Title: Director
   
  /s/ Peter Wang
  Name: Peter Wang

 



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