LISHUI, China, May 21, 2024
/PRNewswire/ -- Tantech Holdings Ltd (NASDAQ: TANH) ("Tantech" or
the "Company") announced today that it received a notice of
non-compliance from Nasdaq Stock Market LLC ("Nasdaq") on
May 20, 2024 stating that, as a
result of not having timely filed its annual report on Form 20-F
for the year ended December 31, 2023,
the Company is not in compliance with Nasdaq Listing Rule
5250(c)(1), which requires timely filing of periodic financial
reports with the Securities and Exchange Commission. This notice
has no immediate effect on the listing or trading of the Company's
common shares on the Nasdaq.
Under Nasdaq's listing rules, the Company has 60 calendar days
to submit a plan to regain compliance. If the plan is accepted by
Nasdaq, the Company can be granted up to 180 calendar days from the
Form 20-F's due date, or until November 11,
2024, to regain compliance.
About Tantech Holdings Ltd
For the past decade, Tantech has been a highly specialized
high-tech enterprise producing, researching and developing bamboo
charcoal-based products with an established domestic and
international sales and distribution network. Since 2017, when the
Company acquired 70% of Shangchi Automobile, a vehicle manufacturer
based in Zhangjiagang City, Jiangsu
Province, it has manufactured and sold vehicles. The Company
established two new subsidiaries, Lishui Smart New Energy
Automobile Co., Ltd. and Zhejiang Shangchi New Energy Automobile
Co., Ltd., in November 2020, to
produce and sell street sweepers and other electric vehicles. The
Company is fully ISO 90000 and ISO 14000 certified and has received
a number of national, provincial and local honors, awards and
certifications for its products and scientific research efforts.
The Company's subsidiary, First International Commercial Factoring
(Shenzhen) Co., LTD, is engaged in
commercial factoring for businesses in and related to its supply
chain. For more information, please
visit: https://tanhtech.com.
Forward-Looking Statements
This news release contains forward-looking statements as defined
by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements concerning the sales,
plans, objectives, goals, strategies, future events or performance,
and underlying assumptions and other statements that are other than
statements of historical facts. These statements are subject to
uncertainties and risks including, but not limited to, product and
service demand and acceptance, changes in technology, economic
conditions, the impact of competition and pricing, government
regulations, and other risks contained in reports filed by the
Company with the Securities and Exchange Commission. All such
forward-looking statements, whether written or oral, and whether
made by or on behalf of the Company, are expressly qualified by
this cautionary statement and any other cautionary statements which
may accompany the forward-looking statements. In addition, the
Company disclaims any obligation to update any forward-looking
statements to reflect events or circumstances after the date
hereof.
For more information, please contact:
Tantech Holdings Ltd
Investor Relations
Tel: +86 (578) 226-2305
ir@tantech.cn
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SOURCE Tantech Holdings Ltd.