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Tantech Holdings Ltd. (NASDAQ: TANH) is a pioneering enterprise dedicated to the development and manufacture of bamboo-based charcoal products for various applications such as industrial energy, household cooking, heating, purification, agriculture, and cleaning. Originating in the People's Republic of China, Tantech has expanded its market internationally, earning a reputation for innovation and quality.
The company operates under three main segments:
- Consumer Products: Known for its Charcoal Doctor brand, this segment offers a diverse range of products including air purifiers, humidifiers, automotive air purification accessories, underfloor humidity control items, pillows and mattresses, wardrobe deodorizers, mouse pads, wrist mats, refrigerator deodorants, charcoal toilet cleaner disks, liquid charcoal cleaners, shoe insoles, and decorative charcoal gifts.
- Trading: This segment manages the export of various charcoal products, bolstering Tantech's international presence.
- Electric Vehicles (EV): Since acquiring a majority share of Shangchi Automobile in 2017, Tantech has ventured into the electric vehicle industry. The company manufactures and markets electric vehicles, including automatic high-speed street sweepers. It also operates subsidiaries like Lishui Smart New Energy Automobile Co., Ltd., and Zhejiang Shangchi New Energy Automobile Co., Ltd., to further this goal.
Recent achievements include significant export contracts for midibuses to Nigeria and school buses to Ecuador, reflecting Tantech's growing influence in international markets. The company has also signed a major agreement to supply midibuses to Malaysia, indicating a robust demand for its high-quality, eco-friendly transportation solutions.
Financially, Tantech has secured an additional $2.1 million through a securities purchase agreement with institutional investors, expected to bolster its growth and operational capabilities. These investments underscore the company's commitment to expanding its market reach and enhancing its product offerings.
Tantech's adherence to quality and environmental standards is evidenced by its full ISO 90000 and ISO 14000 certifications. The company has received numerous national, provincial, and local honors for its products and scientific research efforts.
Despite recent challenges, such as receiving a notice of non-compliance from the Nasdaq Stock Market LLC for delayed financial reporting, Tantech remains steadfast in its mission. The company has a plan to regain compliance and continues to prioritize innovation, quality, and customer satisfaction.
Tantech Holdings (NASDAQ: TANH) has received an extension from NASDAQ to meet the minimum bid price requirement. The company now has until February 24, 2025, to regain compliance. To achieve this, Tantech's common shares must close at $1.00 or higher for at least ten consecutive business days. This extension provides Tantech with additional time to address its stock price issues and maintain its NASDAQ listing.
Tantech Holdings (NASDAQ: TANH) announced on June 17, 2024, that it has regained compliance with the Nasdaq periodic filing requirement under Listing Rule 5250(c)(1). Nasdaq confirmed the company had met the necessary criteria, and the compliance issue is now resolved.
Tantech Holdings (NASDAQ: TANH) announced it received a notification of deficiency from Nasdaq due to its failure to timely file its annual report on Form 20-F for the year ended December 31, 2023. The notification, received on May 20, 2024, indicates non-compliance with Nasdaq Listing Rule 5250(c)(1). The notice does not immediately affect the listing or trading of Tantech's common shares on Nasdaq. The company has 60 days to submit a compliance plan, and if accepted, could be granted up to 180 days from the original due date, until November 11, 2024, to regain compliance.
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