Planet Green Holdings Corp. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Planet Green Holdings Corp. has filed its 2023 10-K report, confirming its status as a smaller reporting company and its compliance with SEC filing requirements.</b>

AI Summary

Planet Green Holdings Corp. (PLAG) filed a Annual Report (10-K) with the SEC on April 1, 2024. Planet Green Holdings Corp. filed its annual report on Form 10-K for the fiscal year ended December 31, 2023. The company is registered in Nevada and its principal executive office is located in Flushing, NY. Its common stock trades under the symbol PLAG on NYSE American. Planet Green Holdings Corp. is classified as a non-accelerated filer and a smaller reporting company. The filing confirms the company has submitted all required reports for the preceding 12 months and has been subject to filing requirements for the past 90 days.

Why It Matters

For investors and stakeholders tracking Planet Green Holdings Corp., this filing contains several important signals. This 10-K filing provides a comprehensive overview of the company's financial performance and operational status for the fiscal year 2023, which is crucial for investors to assess its current standing and future prospects. As a smaller reporting company, Planet Green Holdings Corp. is subject to different disclosure requirements, which investors should consider when analyzing the provided financial information.

Risk Assessment

Risk Level: low — Planet Green Holdings Corp. shows low risk based on this filing. The risk is low as this is a standard annual filing confirming compliance and providing financial data, with no immediate negative indicators presented in the header information.

Analyst Insight

Review the full 10-K filing for detailed financial statements, management discussion, and risk factors to understand Planet Green Holdings Corp.'s performance and outlook.

Key Numbers

• 20231231 — Fiscal Year End (Conformed period of report)
• 20240401 — Filing Date (Conformed submission date)
• 001-34449 — Commission File Number (SEC file number)
• 718-799-0380 — Business Phone (Registrant's telephone number)

Key Players & Entities

• Planet Green Holdings Corp. (company) — Filer name
• PLAG (company) — Trading Symbol
• NYSE American (company) — Exchange where common stock is registered
• Nevada (jurisdiction) — State of incorporation
• Flushing, NY (location) — Address of principal executive office
• December 31, 2023 (date) — Fiscal year end
• 20240401 (date) — Filing date

FAQ

Industry Context

The company operates within the canned, frozen & preserved fruit, veg & food specialties industry, classified under SIC code 2030.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to submit regular financial disclosures to the SEC.

What Investors Should Do

1. Analyze the full 10-K for detailed financial statements and operational disclosures.
2. Assess the company's financial health and strategic direction based on the provided data.
3. Monitor future filings for updates on performance and any significant changes.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-04-01: Filing Date — Date the 10-K was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial review of the 2023 10-K filing. Comparative data from the previous year's filing would be needed for a direct comparison.

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

• ea0202454-10k_planet.htm (10-K) — 1042KB
• ea020245401ex4-1_planet.htm (EX-4.1) — 4KB
• ea020245401ex21-1_planet.htm (EX-21.1) — 6KB
• ea020245401ex31-1_planet.htm (EX-31.1) — 7KB
• ea020245401ex31-2_planet.htm (EX-31.2) — 7KB
• ea020245401ex32-1_planet.htm (EX-32.1) — 4KB
• ea020245401ex32-2_planet.htm (EX-32.2) — 3KB
• ea020245401ex97-1_planet.htm (EX-97.1) — 37KB
• image_001.jpg (GRAPHIC) — 31KB
• image_002.jpg (GRAPHIC) — 16KB
• 0001213900-24-028612.txt (&nbsp;) — 7160KB
• plag-20231231.xsd (EX-101.SCH) — 91KB
• plag-20231231_cal.xml (EX-101.CAL) — 57KB
• plag-20231231_def.xml (EX-101.DEF) — 373KB
• plag-20231231_lab.xml (EX-101.LAB) — 630KB
• plag-20231231_pre.xml (EX-101.PRE) — 367KB
• ea0202454-10k_planet_htm.xml (XML) — 747KB

BUSINESS

BUSINESS 2 ITEM 1A.

RISK FACTORS

RISK FACTORS 18 ITEM 1B. UNRESOLVED STAFF COMMENTS 18 ITEM 1C. CYBERSECURITY 18 ITEM 2.

PROPERTIES

PROPERTIES 19 ITEM 3.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 19 ITEM 4. MINE SAFETY DISCLOSURES 19 PART II 20 ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 20 ITEM 6. [RESERVED] 21 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 22 ITEM 7A.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 25 ITEM 8.

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 25 ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 25 ITEM 9A

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES. 26 ITEM 9B. OTHER INFORMATION 27 ITEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS. 27 PART III 28 ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 28 ITEM 11.

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 31 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 31 ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS AND DIRECTOR INDEPENDENCE 32 ITEM 14. PRINCIPAL ACCOUNTING FEES AND SERVICES 32 PART IV 33 ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES 33 ITEM 16. FORM 10-K SUMMARY 33 i PART I Use of Certain Defined Terms In this annual report on Form 10-K: "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" Ref

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 ownership in providing us with control over the VIE. Direct ownership would allow us, for example, to directly or indirectly exercise 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

View Full Filing

View this 10-K filing on SEC EDGAR