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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 Ltd (NASDAQ: TANH) has announced its intention to conduct an underwritten public offering of common shares. The proceeds from this offering will be utilized for general corporate purposes, including working capital and other business opportunities. The offering is subject to market conditions, and no assurance can be given regarding its completion date or terms. Aegis Capital Corp. acts as the sole book-running manager. The offering will be conducted under an effective shelf registration statement filed with the SEC.
Tantech Holdings Ltd (NASDAQ: TANH) announced its subsidiary, First International Commercial Factoring, secured a RMB 50 million (approximately US$7.8 million) factoring agreement. This marks the company's initial step in developing its factoring services aimed at enhancing clients' cash flow and revenue stability. The global factoring market is projected to grow significantly, generating opportunities for Tantech. As part of its strategic transition, Tantech fully owns First International after acquiring necessary financial qualifications, thereby positioning itself for growth in the supply chain finance sector.
Tantech Holdings Ltd (NASDAQ: TANH) has announced that its subsidiary, Shangchi Automobile Co., Ltd., secured a new order for 15 customizable midibuses, with 10 already delivered to the Philippines. These diesel light midibuses feature a luxurious experience, accommodating 15 passengers and designed for efficiency, including a state-of-the-art air purification system. CEO Wangfeng Yan highlights growth in 2022, supported by investments in R&D, marketing, and supply chain management. The company aims to leverage production capabilities through larger multi-vehicle orders.
Tantech Holdings Ltd (NASDAQ: TANH) reported its unaudited financial results for the six months ending June 30, 2021. Revenues decreased by 9.9% to $20.6 million, primarily due to reduced consumer product sales. However, gross profit increased by 29.3% to $4.0 million, with a gross margin improvement from 13.4% to 19.3%. Operating expenses surged by 666% to $9.7 million, driven mainly by R&D expenditures in the electric vehicle segment. The company reported a net loss of $6.6 million and held $40.7 million in cash, positioning itself for future growth in the specialty vehicle market.
Tantech Holdings Ltd (NASDAQ: TANH) announced an order for 15 midibuses from its subsidiary, Shangchi Automobile Co., Ltd., emphasizing growing demand for its efficient vehicles in China.
The midibuses feature a manual 5-speed transmission, luxurious seating for 15 passengers, and advanced amenities including USB charging, air conditioning, and a purification system. CEO Wangfeng Yan noted a rise in demand for their customizable models, highlighting the company's competitive edge in meeting customer needs.
Tantech Holdings Ltd (NASDAQ: TANH) announced a significant new order through its subsidiary, Shangchi Automobile Co., Ltd., for 50 midibuses to be delivered in Egypt. These midibuses, featuring a manual 5-speed transmission, accommodate up to 15 passengers, and include amenities like USB charging ports and advanced air purification systems. According to CEO Mr. Wangfeng Yan, this order signifies the company's entry into an accelerated growth phase, demonstrating resilience amidst prevailing supply constraints in the industry. The company is well-prepared to meet rising demand due to strategic supply chain relationships.
Tantech Holdings Ltd (NASDAQ: TANH) announced it received a notification from Nasdaq regarding non-compliance with the minimum bid price requirement, as its shares traded below $1.00 for 30 consecutive business days. The Company has until February 28, 2022, to regain compliance. If the share price exceeds $1.00 for 10 consecutive days within this period, Nasdaq will confirm compliance. If not, an additional 180-day grace period may be available. The notification does not affect the current trading status of TANH shares.
Tantech Holdings Ltd (NASDAQ: TANH) announced on July 15, 2021, that its subsidiary, Lishui Smart New Energy Automobile Co., Ltd., has started accepting orders for two new innovative street sweeper models: the SC-120A (driverless) and the SC-120B (manned/unmanned). Both models feature advanced technology including AI controls and lidar-based vision. Designed for efficiency, they can operate for up to 10 hours and come with a one-year warranty. CEO Wangfeng Yan expressed confidence in gaining market share with these products designed for superior performance and lower maintenance costs.
Tantech Holdings Ltd (NASDAQ: TANH) announced its subsidiary, Shangchi Automobile Co., Ltd., has successfully fulfilled a new order for medium-sized fuel buses for export to the Middle East. The fuel buses offer features such as comfortable seating, USB charging ports, and advanced air purification, catering to strong global demand. CEO Wangfeng Yan highlighted opportunities for expansion by diversifying product offerings, including plans for street sweepers and industrial vehicles. Tantech continues to build its brand visibility and shareholder value.
Tantech Holdings Ltd (NASDAQ: TANH) announced that its subsidiary, Lishui Smart New Energy Automobile Co., Ltd., will begin accepting orders for its SC-120A driverless street sweeper from July. The model has met all design and quality standards. CEO Wangfeng Yan highlighted the expected high demand due to the product's impressive features, including improved energy efficiency and reduced operational costs. The SC-120A incorporates advanced technologies such as AI and Lidar, allowing for automatic operation and enhanced cleaning performance. The company aims to innovate the sanitization market with this product.
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