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Tantech Holdings Ltd January 2025 Financial Report: Key Insights Unveiled

$TANH
Form 6-K
Filed on: 2025-01-06
Source
Tantech Holdings Ltd January 2025 Financial Report: Key Insights Unveiled

Here are the key insights extracted from the financial report (Form 6-K) of Tantech Holdings Ltd:

  1. Company Details:
  • Name: Tantech Holdings Ltd
  • Address: No. 10 Cen Shan Road, Shuige Industrial Zone, Lishui City, Zhejiang Province, People's Republic of China, 323000.
  • Commission File Number: 001-36885.
  1. Report Date: The report is for the month of January 2025.
  2. Share Transfer Agreement:
  • Date of Agreement: December 25, 2024.
  • Parties Involved: USCNHK Holding Limited (a wholly owned subsidiary of Tantech) and China Loan Group Co., Limited (unrelated third party).
  • Transaction Details:
    • USCNHK Holding sold its wholly owned subsidiary, USCNHK Group Limited, for HKD 10,000 (approximately $1,286).
    • The sale included the transfer of all subsidiaries under USCNHK Group: Tantech Holdings (Lishui) Co., Ltd., Hangzhou Tanbo Technology Co., Ltd., and Lishui Xincai Industrial Co., Ltd.
    • The rationale for the sale was to reduce costs associated with maintaining these subsidiaries, which did not conduct substantial business prior to the transfer.
  1. Payment Terms: The buyer is required to pay the purchase price within 10 days of executing the agreement.
  2. Exhibits: The share transfer agreement is detailed in Exhibit 99.1, which is attached to the report.
  3. Signature: The report is signed by Wangfeng Yan, Chief Executive Officer, on January 6, 2025.

This summary provides a concise overview of the significant events and transactions affecting Tantech Holdings Ltd as reported in their SEC filing.