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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) announced a 1-for-10 share consolidation on February 24, 2022, aimed at regaining compliance with NASDAQ listing rules. Effective February 28, 2022, the consolidation will decrease the number of outstanding common shares from approximately 63.99 million to about 6.39 million. The authorized common shares will also reduce from 600 million to 60 million. The new CUSIP number will be G8675X123, while trading continues under the symbol TANH.
Tantech Holdings Ltd (NASDAQ: TANH) announced a new order for 10 customizable midibuses to be exported to Ecuador. This order, secured by its subsidiary Shangchi Automobile Co., Ltd., marks a significant sales achievement for the company. The midibuses are designed for school use, featuring advanced safety and comfort attributes such as a 5-speed manual transmission, air conditioning, and USB charging ports. CEO Wangfeng Yan emphasized the importance of such multi-vehicle orders for revenue growth and shareholder value.
Tantech Holdings Ltd (NASDAQ: TANH) announced a milestone order for twelve SC-120A driverless street sweepers from a real estate management company in China. This order follows successful factory testing and quality control reviews. Priced at RMB 300,000 per unit, the SC-120A features advanced technologies for autonomous operation, enhancing cleaning performance while reducing labor costs. CEO Wangfeng Yan highlighted that the sweeper's innovative design will potentially increase revenue contributions and market expansion opportunities. Additionally, a third-generation model with improved features is in development.
Tantech Holdings Ltd has successfully completed a $13.7 million public offering of common stock. This move aims to enhance its financial position and fund operations, particularly following its acquisition of a 70% stake in Shangchi Automobile, expanding into electric vehicle production and sales. With certifications like ISO 9000 and ISO 14000, Tantech demonstrates commitment to quality and environmental standards. The company also operates a factoring subsidiary to support its supply chain. This capital raise may bolster growth and innovation strategies moving forward.
Tantech Holdings Ltd (NASDAQ: TANH) has successfully closed an underwritten public offering, raising approximately $13.7 million from the sale of 21,120,509 common shares at $0.65 per share. The net proceeds will be utilized for general corporate purposes, including working capital and new business opportunities. Additionally, underwriters have a 45-day option to buy up to 3,168,076 extra shares, potentially increasing total proceeds to $15.7 million. This offering falls under an effective shelf registration statement previously filed with the SEC.
Tantech Holdings Ltd (NASDAQ: TANH) announced an underwritten public offering of 21,120,509 common shares priced at $0.65 per share, aiming to raise approximately $13.7 million before expenses. The funds will be used for general corporate purposes, including working capital. The underwriters have a 45-day option to purchase an additional 3,168,076 shares, potentially increasing gross proceeds to $15.7 million. Closing is anticipated on December 6, 2021.
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.
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