CN Energy Group, Inc. Files 20-F for Fiscal Year Ended September 30, 2023

TL;DR

<b>CN Energy Group, Inc. has filed its annual 20-F report for the fiscal year ending September 30, 2023, detailing its financial performance and business operations.</b>

AI Summary

CN ENERGY GROUP. INC. (CNEY) filed a Foreign Annual Report (20-F) with the SEC on February 15, 2024. CN Energy Group, Inc. filed its annual report on Form 20-F for the fiscal year ended September 30, 2023. The filing covers the period from October 1, 2022, to September 30, 2023. The company's principal business address is located in Lishui City, China. CN Energy Group, Inc. is classified under the Industrial Organic Chemicals sector. The filing includes details on various share classes and private placements.

Why It Matters

For investors and stakeholders tracking CN ENERGY GROUP. INC., this filing contains several important signals. This 20-F filing provides investors with a comprehensive overview of CN Energy Group's financial health, operational activities, and strategic direction for the past fiscal year. The detailed information within the filing is crucial for stakeholders to assess the company's performance, risks, and future prospects in the industrial organic chemicals sector.

Risk Assessment

Risk Level: medium — CN ENERGY GROUP. INC. shows moderate risk based on this filing. The company operates in the industrial organic chemicals sector, which can be subject to market volatility and regulatory changes. Specific financial figures and growth rates are not detailed in this header information, making a precise risk assessment difficult without further review of the full filing.

Analyst Insight

Review the full 20-F filing to understand the company's financial performance, operational segments, and any disclosed risks or strategic initiatives.

Financial Highlights

revenue

100698

total Assets

68574781

total Debt

3020969

net Income

2285826

eps

668755

revenue Growth

1.02

Key Numbers

• 20230930 — CONFORMED PERIOD OF REPORT (Fiscal Year End)
• 20240215 — FILED AS OF DATE (Filing Date)
• 0930 — FISCAL YEAR END (Company Fiscal Year End)

Key Players & Entities

• CN ENERGY GROUP. INC. (company) — COMPANY CONFORMED NAME
• 0001780785 (company) — CENTRAL INDEX KEY
• INDUSTRIAL ORGANIC CHEMICALS (company) — STANDARD INDUSTRIAL CLASSIFICATION
• LISHUI CITY (company) — CITY
• 20-F (regulator) — FORM TYPE
• 1934 Act (regulator) — SEC ACT
• 001-39978 (regulator) — SEC FILE NUMBER
• 20240215 (date) — FILED AS OF DATE

FAQ

Industry Context

CN Energy Group operates within the industrial organic chemicals sector, a field that involves the production and distribution of chemicals derived from organic compounds.

Regulatory Implications

As a foreign private issuer, CN Energy Group files an annual report on Form 20-F with the SEC, which provides a comprehensive overview of its business and financial condition.

What Investors Should Do

1. Analyze the detailed financial statements within the 20-F to understand revenue, net income, and debt levels.
2. Examine the business overview section to identify key operational segments and any changes in business strategy.
3. Review the risk factors section for potential challenges and uncertainties facing the company.

Key Dates

• 2023-09-30: Fiscal Year End — End of the reporting period for the 20-F filing.
• 2024-02-15: Filing Date — Date the 20-F form was submitted to the SEC.

Year-Over-Year Comparison

This filing represents the annual 20-F report for the fiscal year ending September 30, 2023, providing updated financial and operational information compared to previous filings.

Key Financial Figures

• $1 — the end of the year – RMB RMB7.2960 to $1 RMB7.1135 to $1 RMB6.4599 to $1 Aver

Filing Documents

• cney_20f.htm (20-F) — 2774KB
• cney_ex411.htm (EX-4.11) — 7KB
• cney_ex412.htm (EX-4.12) — 7KB
• cney_ex81.htm (EX-8.1) — 9KB
• cney_ex112.htm (EX-11.2) — 175KB
• cney_ex121.htm (EX-12.1) — 8KB
• cney_ex122.htm (EX-12.2) — 8KB
• cney_ex131.htm (EX-13.1) — 3KB
• cney_ex132.htm (EX-13.2) — 3KB
• cney_ex151.htm (EX-15.1) — 4KB
• cney_ex153.htm (EX-15.3) — 2KB
• cney_ex971.htm (EX-97.1) — 34KB
• cney_ex151img4.jpg (GRAPHIC) — 14KB
• cney_ex151img3.jpg (GRAPHIC) — 11KB
• cney_ex112img1.gif (GRAPHIC) — 1KB
• cney_20fimg17.jpg (GRAPHIC) — 27KB
• cney_20fimg18.jpg (GRAPHIC) — 20KB
• cney_20fimg19.jpg (GRAPHIC) — 9KB
• cney_20fimg20.jpg (GRAPHIC) — 14KB
• cney_20fimg21.jpg (GRAPHIC) — 28KB
• cney_20fimg22.jpg (GRAPHIC) — 4KB
• 0001477932-24-000767.txt (&nbsp;) — 10689KB
• cney-20230930.xsd (EX-101.SCH) — 93KB
• cney-20230930_lab.xml (EX-101.LAB) — 477KB
• cney-20230930_cal.xml (EX-101.CAL) — 95KB
• cney-20230930_pre.xml (EX-101.PRE) — 407KB
• cney-20230930_def.xml (EX-101.DEF) — 236KB
• cney_20f_htm.xml (XML) — 1710KB

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 95 ITEM 12.

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES 96 PART II 97 ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES 97 ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS 97 ITEM 15.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 98 ITEM 16. [RESERVED] 99 ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT 99 ITEM 16B. CODE OF ETHICS 99 ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES 100 ITEM 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES 100 ITEM 16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS 100 ITEM 16F. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT 100 ITEM 16G. CORPORATE GOVERNANCE 100 ITEM 16H. MINE SAFETY DISCLOSURE 101 ITEM 16I. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 101 ITEM 16J. INSIDER TRADING POLICY 101 ITEM 16K. CYBERSECURITY 101 PART III 102 ITEM 17.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 102 ITEM 18.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 102 ITEM 19. EXHIBITS 102 1 Table of Contents INTRODUCTION In this annual report on Form 20F, unless the context otherwise requires, references to: "China" or the "PRC" are to the People's Republic of China; "Class A ordinary shares" are to the Class A ordinary shares, no par value, of CN Energy (as defined below); "Class B ordinary shares" are to the Class B ordinary shares, no par value, of CN Energy. Holders of Class A ordinary shares and Class B ordinary shares have the same rights except for voting and conversion rights. In respect of matters requiring a vote of all shareholders, each holder of Class A ordinary shares will be entitled to one vote per one Class A ordinary share and each holder of Class B ordinary shares will be entitled to 50 votes per one Class B ordinary share. The Class A ordinary shares are not convertible into shares of any other class. The Class B ordinary shares are convertible into Class A ordinary shares at any time after issuance at the option of the holder on a one-to-one basis; "CN Energy," "we," "us," "our," "our Company," and the "Company" are to CN ENERGY GROUP. INC. (also referred to as in Chinese), a business company limited by shares incorporated under the laws of British Virgin Islands; "CN Energy Development" are to CN Energy Industrial Development Co., Ltd. (also referred to as in Chinese), a company with limited liability organized under the laws of the PRC, which is jointly owned by Zhejiang CN Energy and Manzhouli CN Technology (as defined below); "Energy Holdings" are to CN Energy's wholly owned subsidiary, CLEAN ENERGY HOLDINGS LIMITED (also referred to as in Chinese), a Hong Kong corporation; "Exchange Act" are to the Securities Exchange Act of 1934, as amended; "Hangzhou Forasen" are to Hangzhou Forasen Technology Co., Ltd. (also referred to as in Chinese), a company with limited liability organized under the laws of the PRC, which is wholly owned by CN Energy Developm

IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS

Item 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS Not applicable.

OFFER STATISTICS AND EXPECTED TIMETABLE

Item 2. OFFER STATISTICS AND EXPECTED TIMETABLE Not applicable.

KEY INFORMATION

Item 3. KEY INFORMATION We are incorporated in the British Virgin Islands and conduct our operations primarily in China. As a holding company with no material operations of our own, our operations are conducted in China through the operating entities. Our ordinary shares are shares of CN Energy, the offshore holding company in the British Virgin Islands, instead of shares of our operating companies in China. Therefore, our shareholders will not directly hold any equity interests in our operating companies. Wholly owned subsidiaries of CN Energy Development include Khingan Forasen, Hangzhou Forasen, Zhongxing Energy, and Zhejiang New Material, Ningbo Nadoutong Trading Co., Ltd., Zhoushan Xinyue, and Zhejiang Yongfeng New Material, all of which were established as companies with limited liabilities pursuant to PRC laws. Khingan Forasen produces activated carbon and biomass electricity through its branch office, Tahe Biopower Plant, which houses the operating entities' current manufacturing facility; Hangzhou Forasen is engaged in the marketing of activated carbon products; Zhongxing Energy is expected to hold the operating entities' second biopower plant and produce activated carbon and heat in the future; Zhejiang New Material is expected to be engaged in the manufacturing and marketing of activated carbon products used for water treatment and purification in 2023; Ningbo Nadoutong is engaged in the marketing of activated carbon products; Zhoushan Xinyue is engaged in the marketing of activated carbon products; and Zhejiang Yongfeng New Material is expected to be engaged in the marketing of activated carbon products. Wholly owned subsidiaries of MZ HK include MZ Pintai, Yunnan Yuemu and Yunnan Honghao, all of which were incorporated as companies with limited liabilities in pursuant to PRC laws. MZ HK is a holding company with no business operation; MZ Pintai is engaged in sales of minerals, stone, metal materials, construction materials, wood, chemical materials

View Full Filing

View this 20-F filing on SEC EDGAR