Tantech Holdings - TANH STOCK NEWS

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.

Tantech Holdings Ltd (NASDAQ: TANH) announced the closing of a private placement, raising approximately US$7.0 million through the sale of 5,380,000 common shares at US$1.30 per share. The transaction was exempt from registration under the Securities Act, with purchasers acknowledging that the shares are unregistered. Tantech has established a strong domestic and international network, focusing on bamboo charcoal-based products and electric vehicles. The company holds ISO certifications and aims to expand its manufacturing capabilities.

Tantech Holdings Ltd (NASDAQ: TANH) announced a private placement of 5,380,000 common shares at US$1.30 each, totaling US$6,994,000. This transaction is expected to close by June 11, 2021, pending customary conditions. The proceeds will be directed towards general corporate and working capital needs. The shares are exempt from registration under the Securities Act and cannot be sold without appropriate registration. Tantech specializes in bamboo charcoal products and has expanded into vehicle manufacturing since acquiring a 70% stake in Shangchi Automobile.

Tantech Holdings Ltd (NASDAQ: TANH) reported its audited financial results for the year ended December 31, 2020. Revenues declined by 14.1% to $42.3 million, primarily due to a 35.8% drop in consumer product sales, affected by COVID-19. However, trading revenue increased 269.3% to $12.5 million. The net loss attributable to shareholders was $6.5 million, slightly worse than the previous year. Gross profit decreased 25% to $4.5 million, with a gross margin of 10.6%. The company maintains a positive working capital and had $37.1 million in cash as of December 31, 2020.

Tantech Holdings Ltd (NASDAQ: TANH) announced that its subsidiary, Shangchi Automobile Co., Ltd., has completed an OEM order for two prototype midibuses. The vehicles were shipped on March 8, 2021, to the Middle East. CEO Wangfeng Yan expressed optimism about this order, viewing it as a growth opportunity in their vehicle business. Shangchi focuses on manufacturing high-efficiency electric and fuel-powered buses, adapting to China's new energy vehicle policies.