Planet Green Holdings Corp. Files 2023 Annual Report Amendment

TL;DR

Planet Green Holdings Corp. filed an amendment to its 2023 10-K on Dec 13, 2024.

AI Summary

Planet Green Holdings Corp. filed an amendment (10-K/A) to its annual report for the fiscal year ended December 31, 2023. The filing, dated December 13, 2024, provides updated information for the company, which is incorporated in Nevada and operates in the canned, frozen & preserved fruit, veg & food specialties sector.

Why It Matters

This amendment provides updated financial and operational information for Planet Green Holdings Corp., which is crucial for investors and stakeholders to assess the company's performance and outlook.

Risk Assessment

Risk Level: low — This filing is an amendment to a previous annual report and does not appear to contain new material adverse information.

Key Numbers

• 2023 — Fiscal Year End (The annual report covers the fiscal year ending December 31, 2023.)
• 10-K/A — Filing Type (This is an Amendment No. 1 to the annual report (Form 10-K).)

Key Players & Entities

• Planet Green Holdings Corp. (company) — Registrant
• December 31, 2023 (date) — Fiscal year end
• December 13, 2024 (date) — Filing date
• Nevada (jurisdiction) — State of incorporation
• 001-34449 (company_id) — Commission File Number

FAQ

Key Financial Figures

• $0.001 — ich registered Common Stock, par value $0.001 per share PLAG NYSE American Securiti
• $0.505 — sing the NYSE American closing price of $0.505 as of June 30, 2023, the last business
• $2,823,782 — . As of December 31, 2023, the VIE owns $2,823,782 to our WFOE. As of December 31, 2023, w

Filing Documents

• ea0224200-10ka1_planet.htm (10-K/A) — 1385KB
• ea022420001ex31-1_planet.htm (EX-31.1) — 7KB
• ea022420001ex31-2_planet.htm (EX-31.2) — 7KB
• ea022420001ex32-1_planet.htm (EX-32.1) — 4KB
• ea022420001ex32-2_planet.htm (EX-32.2) — 3KB
• image_001.jpg (GRAPHIC) — 31KB
• image_002.jpg (GRAPHIC) — 16KB
• 0001213900-24-108605.txt ( ) — 7555KB
• plag-20231231.xsd (EX-101.SCH) — 79KB
• plag-20231231_cal.xml (EX-101.CAL) — 46KB
• plag-20231231_def.xml (EX-101.DEF) — 346KB
• plag-20231231_lab.xml (EX-101.LAB) — 590KB
• plag-20231231_pre.xml (EX-101.PRE) — 358KB
• ea0224200-10ka1_planet_htm.xml (XML) — 798KB

BUSINESS

BUSINESS 2 ITEM 1A.

RISK FACTORS

RISK FACTORS 21 ITEM 1B. UNRESOLVED STAFF COMMENTS 21 ITEM 1C. CYBERSECURITY 21 ITEM 2.

PROPERTIES

PROPERTIES 22 ITEM 3.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 22 ITEM 4. MINE SAFETY DISCLOSURES 22 PART II 23 ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 23 ITEM 6. [RESERVED] 24 ITEM 7.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 25 ITEM 7A.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 28 ITEM 8.

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 28 ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 28 ITEM 9A

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES. 29 ITEM 9B. OTHER INFORMATION 30 ITEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS. 30 PART III 31 ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 31 ITEM 11.

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 34 ITEM 12.

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 34 ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS AND DIRECTOR INDEPENDENCE 35 ITEM 14. PRINCIPAL ACCOUNTING FEES AND SERVICES 35 PART IV 36 ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES 36 ITEM 16. FORM 10-K/A SUMMARY 36 i PART I Use of Certain Defined Terms In this annual report on Form 10-K/A: "Allinyson" refers to Allinyson Ltd., a company incorporated in the State of Colorado. "Anhui Ansheng" refers to Anhui Ansheng Petrochemical Equipment Co., Ltd., a PRC limited liability company. "Bless Chemical" refers to Bless Chemical Co., Ltd., a company incorporated in Hong Kong. "China" and "PRC" refer to the People's Republic of China including Hong Kong and Macau. "Fast Approach" refers to Fast Approach Inc., a corporation incorporated under the laws of Canada. "Hubei Bulaisi" or "WFOE" Refers to Hubei Bulaisi Technology Co., Ltd., a PRC limited liability company. "Jiayi Technologies" or "WFOE" refers to Jiayi Technologies (Xianning) Co., Ltd., a PRC limited liability company and a wholly foreign-owned enterprise, formerly known as Lucky Sky Petrochemical Technology (Xianning) Co., Ltd. "Jilin Chuangyuan" refers to Jilin Chuangyuan Chemical Co., Ltd., a PRC limited liability company. "Jingshan Sanhe" refers to Jingshan Sanhe Luckysky New Energy Technologies Co., Ltd., a PRC limited liability company. "Promising Prospect" refers to Promising Prospect HK Limited, a company incorporated in Hong Kong. "Planet Green" refers to Planet Green Holdings Corp., a Nevada holding company. "Promising Prospect BVI" refers to Promising Prospect Limited, formerly known as Planet Green Holdings Corporation, a British Virgin Islands company. "RMB" refers to Renminbi, the legal currency of China. "Shanghai Shuning" refers to Shanghai Shuning Advertising Co., Ltd., a PRC limited liability company. "Shandong Yunchu

BUSINESS

ITEM 1. BUSINESS Overview of Our Business Planet Green Holdings Corp. (the "Planet Green"), headquartered in Flushing, NY, is not an operating company in the PRC but a Nevada holding company with its operations conducted through its subsidiaries in the PRC, U.S., Hong Kong and Canada (the "Subsidiaries") and through contractual arrangements with its variable interest entity, Jilin Chuanyuan (the "VIE"), which is a company incorporated in the PRC. Planet Green is engaged in a number of diverse business activities, including consumer products, chemical products, and online advertising and mobile game. The VIE is consolidated for accounting purpose only and Planet Green does not own any equity interest in the VIE. Investors may never directly hold equity interests in the VIE. The VIE structure is used to provide investors with exposure to foreign investment in China-based companies where Chinese law prohibits or limits direct foreign investment in the operating companies. However, our contractual arrangements with the VIE are not equivalent of an investment in the VIE. Investors of our securities thus are not purchasing equity interest in the VIE and their subsidiaries in China but instead are purchasing equity interest in a Nevada holding company. Such VIE arrangement is not identical to owning such entities directly, and investors will own shares in a holding company with contracts with the VIE and will not have any equity ownership of such VIE itself. The VIE arrangement may not be as effective as direct our rights as a shareholder to effect changes in the boards of directors, which, in turn, could affect changes, subject to any applicable fiduciary obligations at the management level. However, under the VIE arrangement, as a legal matter, if the VIE or its shareholders fail to perform their respective obligations under the VIE ar

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View this 10-K/A filing on SEC EDGAR