Tantech Holdings Ltd Files 20-F for FY2023

Ticker: TANH · Form: 20-F · Filed: Jun 11, 2024 · CIK: 1588084

Tantech Holdings Ltd 20-F Filing Summary
FieldDetail
CompanyTantech Holdings Ltd (TANH)
Form Type20-F
Filed DateJun 11, 2024
Risk Levelmedium
Pages15
Reading Time18 min
Sentimentneutral

Sentiment: neutral

Topics: 20-F, annual-report, subsequent-events, supplier-risk

TL;DR

Tantech 20-F is in, FY23 numbers are out. Watch out for warrant activity and supplier concentration.

AI Summary

Tantech Holdings Ltd filed its 20-F for the fiscal year ending December 31, 2023. The filing details the company's operations in industrial organic chemicals and includes information on its business address in Lishui City, Zhejiang, China. It also notes several subsequent events related to warrants and supplier information.

Why It Matters

This filing provides investors with a comprehensive overview of Tantech Holdings Ltd's financial performance and operational status for the past fiscal year, including potential risks and future events.

Risk Assessment

Risk Level: medium — The filing mentions supplier concentration risk, indicating potential vulnerability to disruptions from key suppliers.

Key Numbers

  • 3797089 — Revenue (Represents a key financial metric for the fiscal year 2023.)
  • 1217906 — Net Income (Indicates profitability for the fiscal year 2023.)
  • 42543860 — Total Assets (Shows the company's total assets as of the fiscal year end 2023.)

Key Players & Entities

  • TANTECH HOLDINGS LTD (company) — Filer of the 20-F report
  • LISHUI CITY (location) — Location of Tantech Holdings Ltd's business and mailing address
  • ZHEJIANG (location) — State of incorporation and location of Tantech Holdings Ltd's business and mailing address
  • 2023-12-31 (date) — Fiscal year end for the reported period
  • 20240611 (date) — Filing date of the 20-F report

FAQ

What is Tantech Holdings Ltd's primary industry?

Tantech Holdings Ltd operates in the Industrial Organic Chemicals sector, SIC code 2860.

What is the fiscal year end reported in this 20-F?

The fiscal year end reported is December 31, 2023.

Where is Tantech Holdings Ltd located?

The company's business and mailing address is located at No. 10 Cen Shan Rd, Shuige Indtrl Zone, Lishui City, Zhejiang, China.

What subsequent events are mentioned in the filing?

The filing mentions subsequent events related to Warrants A and Warrants B, with dates around April 30, 2024, and May 1, 2024.

Does the filing indicate any supplier-related risks?

Yes, the filing notes 'Supplier Concentration Risk' under the context of major suppliers and cost of goods for the period ending December 31, 2023.

Filing Stats: 4,471 words · 18 min read · ~15 pages · Grade level 17.1 · Accepted 2024-06-11 16:30:50

Filing Documents

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 119 ITEM 12.

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES 120 PART II ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES 121 ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS 121 ITEM 15.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 121 ITEM 15T.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 123 ITEM 16. [RESERVED] 123 ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT 123 ITEM 16B. CODE OF ETHICS 123 ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES 124 ITEM 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES 124 ITEM 16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS 125 ITEM 16F. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT 125 ITEM 16G. CORPORATE GOVERNANCE 125 ITEM 16H. MINE SAFETY DISCLOSURE 125 ITEM 16I DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 126 ITEM 16J INSIDER TRADING POLICY 126 ITEM 16K CYBERSECURITY 126 PART III ITEM 17.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 127 ITEM 18.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 127 ITEM 19. EXHIBITS 128 2 Table of Contents Special Note Regarding Forward-Looking Statements This annual report contains forward-looking statements. All statements contained in this annual report other than statements of historical fact, including statements regarding our future results of operations and financial position, our business strategy and plans, and our objectives for future operations, are forward-looking statements. The words "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," and similar expressions are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives, and financial needs. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including those described in the "Risk Factors" section. Moreover, we operate in a very competitive and rapidly changing environment. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties and assumptions, the future events and trends discussed in this annual report may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. You should not rely upon forward-looking statements as predictions of future events. The events and circumstances reflected in the forward-looking statements may not be achieved or occur. Although we believe that the expectations

IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS

ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS Not applicable for annual reports on Form 20-F.

OFFER STATISTICS AND EXPECTED TIMETABLE

ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE Not applicable for annual reports on Form 20-F.

KEY INFORMATION

ITEM 3. KEY INFORMATION Our Corporate Structure and the Operations of Our PRC Subsidiaries Tantech Holdings Ltd ("THL," "we," "our" or "us") is not a PRC operating company but a holding company incorporated in the British Virgin Islands ("BVI"). As a holding company, we conduct a substantial portion of our operations through our subsidiaries based in mainland China. Therefore, investing in our securities involves unique and a high degree of risk. You should carefully read and consider the risk factors of this report (beginning on page 12), especially the risk factors under the caption "Risks Related to Doing Business in China" (beginning on Page 25). The securities registered under the Securities Act and the Exchange Act are of the offshore holding company Tantech Holdings Ltd, a British Virgin Islands company, which owns equity interests, directly or indirectly, of the operating subsidiaries. Subsidiaries conduct operations in China and the holding company does not conduct operations in China. Prior to August 3, 2021, we controlled Hangzhou Wangbo Investment Management Co., Ltd ("Wangbo"), Shangchi Automobile Co., Ltd. ("Shangchi Automobile") and Shenzhen Yimao New Energy Sales Co., Ltd. ("Shenzhen Yimao") through a series of contractual arrangements (the "VIE Agreements"). Pursuant to the VIE Agreements, Shanghai Jiamu Investment Management Co., Ltd ("Jiamu") had the exclusive right to provide Wangbo consulting services related to business operations including technical and management consulting services. We previously controlled Shangchi Automobile through the VIE agreements because the Guidance Catalogue for Industrial Structure Adjustments (the "Catalogue"), a principal regulation governing foreign ownership of businesses in the PRC, expressly prohibited direct foreign investment over 50% in automobile industry. In 2018, the Catalogue was replaced by the Special Administrative Measures (Negative List) for Foreign Investment Access (the "Negative List").

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