TANH on Nasdaq

TANTECH HOLDINGS LTD

TANTECH HOLDINGS LTD is an industrial organic chemicals company based in Zhejiang, British Virgin Islands.1 Its shares trade on Nasdaq under the symbol TANH.1

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Last updated Oct 20, 2026.

Overview

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  • TickerTANH on Nasdaq1
  • IndustryIndustrial Organic Chemicals1
  • HeadquartersZhejiang, China1
  • Incorporated inVirgin Islands, British2
  • Business addressNo. 10 Cen Shan Rd, Shuige Indtrl Zone, Lishui City, Zhejiang, F4 3230002
  • Filer categoryNon-accelerated filer2

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Tantech Bamboo was established in October 2002 under the trading name “Lishui Zhonglin High Tech Co., Ltd.” by its incumbent owner. Lishui Forasen Food Co. Ltd. was established in January 1998. In April 2003, it changed its name to Lishui Forasen Green Industry Group, later renamed Forasen Group Co. Ltd. (“Forasen Group”). In May 2003, 60% of THL’s shares were acquired by the Forasen Group. A second subsidiary, Zhejiang Tantech Bamboo Charcoal Co., Ltd. (“Tantech Charcoal”), was acquired in September 2006 to manage the Forasen Group’s export business. In September 2008 a third subsidiary, Zhejiang Tantech Energy Technology Co., Ltd. (“Tantech Energy”), was established to research and develop bamboo charcoals application as a carbon component for EDLCs. On December 14, 2017, the Company entered into a sale agreement and related agreements to transfer its EDLC carbon business (including in…3 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

18.6%Gross margin4
-31.8%Operating margin4
-80.9%Net margin4
-10.7%Revenue growth, 20254
-28.1%Return on equity4
-$5.8MFree cash flow4

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Regions

Revenue From China brought in 93% of the revenue TANTECH HOLDINGS LTD broke down this way in fiscal 2025.

  1. Revenue From China$35.8M493%down 15% from 2024
  2. Foreign Countries$2.6M47%up 264% from 2024
Regions by year
Regions202320242025
Revenue From China$43.0M$42.2M$35.8M
Foreign Countries$1.6M$706.7K$2.6M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue81¢$31.2M
  • Research and development0¢$78.6K
  • Other costs11¢$4.3M
  • Interest1¢$279.6K
  • Income tax7¢$2.5M

Out of $38.4M in revenue.4 The company lost money this year.

Financial statements

Revenue56784$38.4M in 2025−22% since 2019
0$20.0M$40.0M$60.0M2019: $49.2M$49.2M20192020: $42.3M$42.3M2020−14%2021: $55.3M$55.3M2021+31%2022: $53.0M$53.0M2022−4%2023: $44.6M$44.6M2023−16%2024: $42.9M$42.9M2024−4%2025: $38.4M$38.4M2025−11%
Gross profit56784$7.1M in 2025+19% since 2019
0$5.0M$10.0M$15.0M2019: $6.0M$6.0M20192020: $4.5M$4.5M2020−25%2021: $10.4M$10.4M2021+133%2022: $10.1M$10.1M2022−3%2023: $9.7M$9.7M2023−4%2024: $8.9M$8.9M2024−8%2025: $7.1M$7.1M2025−20%
Operating income56784-$12.2M in 2025+37% since 2019
-$15.0M-$10.0M-$5.0M0$5.0M$10.0M2019: -$8.9M-$8.9M20192020: -$10.3M-$10.3M2020+16%2021: -$8.5M-$8.5M2021−18%2022: $5.9M$5.9M20222023: $3.7M$3.7M2023−38%2024: $4.0M$4.0M2024+9%2025: -$12.2M-$12.2M2025
Net income584-$31.0M in 2025+388% since 2019
-$40.0M-$30.0M-$20.0M-$10.0M0$10.0M2019: -$6.4M-$6.4M20192020: -$6.5M-$6.5M2020+3%2021: -$8.4M-$8.4M2021+28%2022: $2.6M$2.6M20222023: $5.6M$5.6M2023+116%2024: -$3.2M-$3.2M20242025: -$31.0M-$31.0M2025+857%

Every line of the income statement as filed: the last 3 fiscal years, latest first.4

Period ending2025-12-312024-12-312023-12-31
Revenues$38.4M$42.9M$44.6M
Cost of revenues$31.2M$34.0M$34.9M
Gross profit$7.1M$8.9M$9.7M
Selling$6.9K$51.2K$218.1K
General and administrative$19.3M$4.9M$5.8M
Research and development$78.6K$38.8K$23.9K
Total operating expenses$19.3M$5.0M$6.1M
(Loss) income from operations-$12.2M$4.0M$3.7M
Change in fair value of convertible note-$150.0K-$504.0K-$165.7K
Change in fair value of warrants liabilities$568.0K-$3.8M$0
Changes in fair value of digital assets-$287$0$0
Interest income$348.1K$43.2K$49.6K
Interest expense-$279.6K-$290.4K-$301.5K
Financing interest income, net$352.5K$1.8M$2.2M
Rental income from related party$0$0$111.3K
Long- term investments impairment-$23.1M$0$0
Gain (loss) from disposal of subsidiaries$3.6M-$1.0M$3.6M
Gain from disposal of financing receivables$2.3M$0$0
Loss on refund receivable-$4.4M$0$0
Gain on debt extinguishment$0$298.2K$0
Other (loss) income, net-$485.7K$33.1K$177.8K
Total other (expenses) income, net-$21.3M-$3.4M$5.6M
(Loss) income before income tax-$33.5M$624.3K$9.3M
Income tax provision-$2.5M$3.1M$2.4M
Net (loss) income from continuing operations-$31.0M-$2.5M$6.9M
Net loss from discontinued operations-$61.4K-$1.1M-$1.9M
Net (loss) income-$31.0M-$3.6M$5.0M
Less: Net (loss) income attributable to non-controlling interest-$18.4K-$323.5K-$565.3K
Net (loss) income attributable to the Company-$31.0M-$3.2M$5.6M
Less: Deemed dividend to warrants holders-$401.0K$0$0
Net (loss) income attributable to common stockholders of Tantech Holdings Ltd-$31.4M-$3.2M$5.6M
Net (loss) income-$31.0M-$3.6M$5.0M
Foreign currency translation adjustment$1.8M$86.8K-$4.2M
Comprehensive (loss) income-$29.3M-$3.5M$797.5K
Less: Comprehensive loss attributable to non-controlling interest-$18.9K-$318.9K-$563.8K
Comprehensive (loss) income attributable to common stockholders of Tantech Holdings Ltd-$29.3M-$3.2M$1.4M
Basic and diluted-$13.64-$7.66$80.69
Basic and diluted2.3M shares423.2K shares69.2K shares

Compare TANTECH HOLDINGS LTD with another company

Corporate structure

TANTECH HOLDINGS LTD sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of TANTECH HOLDINGS LTD

  • Streeterville Capital LLC Filed SCHEDULE 13G on TANTECH HOLDINGS LTD, latest Apr 21, 2025
  • INTRACOASTAL CAPITAL, LLC Filed SC 13G/A on TANTECH HOLDINGS LTD, latest Nov 13, 2024 (2 filings since May 8, 2024)
  • Bigger Capital, LLC Filed SC 13G/A on TANTECH HOLDINGS LTD, latest Nov 6, 2024 (2 filings since May 3, 2024)
  • Jian Wang Filed SC 13G on TANTECH HOLDINGS LTD, latest Oct 16, 2023
  • Yan Wang Filed SC 13G on TANTECH HOLDINGS LTD, latest Oct 13, 2023
  • Huiqing Wu Filed SC 13G on TANTECH HOLDINGS LTD, latest Oct 12, 2023
  • Lijuan Zhang Filed SC 13G on TANTECH HOLDINGS LTD, latest Oct 12, 2023
  • Xiaochun Zhang Filed SC 13G on TANTECH HOLDINGS LTD, latest Oct 12, 2023
  • Zhaowei Ye Filed SC 13G on TANTECH HOLDINGS LTD, latest Oct 12, 2023
  • Man Kong Filed SC 13G on TANTECH HOLDINGS LTD, latest Oct 10, 2023
  • SABBY MANAGEMENT, LLC Filed SC 13G/A on TANTECH HOLDINGS LTD, latest Jan 10, 2023 (3 filings since Dec 9, 2021)
  • TANTECH HOLDINGS LTD Zhejiang, China

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What TANTECH HOLDINGS LTD reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$338.8K4 Dec 31, 2025$352.0K4 Dec 31, 2024−3.7%
Accumulated depreciation$236.0K4 Dec 31, 2025$228.7K4 Dec 31, 2024+3.2%
Property and equipment, net$102.8K4 Dec 31, 2025$123.3K4 Dec 31, 2024−16.6%
Finance-lease assets$1.1M8 Dec 31, 2024$1.2M8 Dec 31, 2023−13.9%
Operating-lease assets (leased space)$882.2K4 Dec 31, 2025$1.1M4 Dec 31, 2024−16.8%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$33.0M4 Dec 31, 2025$35.2M4 Dec 31, 2024−6.2%
Long-term investments$04 Dec 31, 2025$22.8M4 Dec 31, 2024−100.0%

Intangibles and goodwill

ItemLatestA year beforeChange
Finite-lived intangibles, gross$222.3K4 Dec 31, 2025$213.0K4 Dec 31, 2024+4.4%
Accumulated amortization$51.5K4 Dec 31, 2025$28.5K4 Dec 31, 2024+81.1%
Finite-lived intangibles, net$170.8K4 Dec 31, 2025$184.5K4 Dec 31, 2024−7.5%

Inventory

ItemLatestA year beforeChange
Inventory, total$152.4K4 Dec 31, 2025$191.2K4 Dec 31, 2024−20.3%
Raw materials$152.4K4 Dec 31, 2025$187.5K4 Dec 31, 2024−18.7%
Finished goods$04 Dec 31, 2025$3.8K4 Dec 31, 2024−100.0%

Leadership

Who has led TANTECH HOLDINGS LTD, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Zheyuan Liu2026–now
Board members and other officers (4)

Timeline

  1. Apr 9, 2026New chief executive Zheyuan Liu becomes CEO10

Filings

136 filings to the SEC since October 2021: 8 annual reports, 5 insider forms, 15 large holders, 108 other. The latest 20:

  1. Oct 2, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
  2. Sep 24, 20266-K EDGAR
  3. Sep 1, 20266-K EDGAR
  4. Aug 19, 20266-K EDGAR
  5. Aug 7, 20266-K/A EDGAR
  6. Aug 6, 20266-K EDGAR
  7. Aug 4, 20266-K EDGAR
  8. Jun 17, 2026EFFECT EDGAR
  9. Jun 15, 2026CORRESP EDGAR
  10. Jun 9, 2026F-3 EDGAR
  11. Jun 3, 2026UPLOAD EDGAR
  12. Jun 2, 2026DRS EDGAR
  13. May 14, 202620-F EDGAR
  14. May 1, 2026NT 20-F EDGAR
  15. Apr 9, 20263 EDGAR
  16. Apr 2, 20266-K EDGAR
  17. Apr 2, 2026424B5 EDGAR
  18. Mar 31, 20263 EDGAR
  19. Mar 31, 20263 EDGAR
  20. Mar 31, 20263 EDGAR

The 136 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

  • Streeterville Capital LLCSCHEDULE 13G, 1 filing Apr 21, 202515
  • INTRACOASTAL CAPITAL, LLCSC 13G/A, 2 filings May 8, 2024 to Nov 13, 202416
  • Bigger Capital, LLCSC 13G/A, 2 filings May 3, 2024 to Nov 6, 202417
  • Jian WangSC 13G, 1 filing Oct 16, 202318
  • Yan WangSC 13G, 1 filing Oct 13, 202319
  • Huiqing WuSC 13G, 1 filing Oct 12, 202320
  • Lijuan ZhangSC 13G, 1 filing Oct 12, 202321
  • Xiaochun ZhangSC 13G, 1 filing Oct 12, 202322
  • Zhaowei YeSC 13G, 1 filing Oct 12, 202323
  • Man KongSC 13G, 1 filing Oct 10, 202324
  • SABBY MANAGEMENT, LLCSC 13G/A, 3 filings Dec 9, 2021 to Jan 10, 202325

SEC filer profile

How TANTECH HOLDINGS LTD is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARTANTECH HOLDINGS LTD1
  • CIK0001588084
  • Filer statusNon-accelerated filer not an emerging growth company; not a shell company3
  • Incorporated inBritish Virgin Islands3
  • Fiscal year endsDecember 311
  • Industry code (SIC)2860 Industrial Organic Chemicals1
  • SEC reviewing officeOffice of Industrial Applications and Services, Division of Corporation Finance1
  • Business addressNo. 10 Cen Shan Rd, Shuige Indtrl Zone, Lishui City, Zhejiang, F4 3230001
  • Phone86 578 226 23091
  • Shares outstanding6,214,872 shares as of Apr 30, 20263
  • AuditorYCM CPA INC., Irvine, California PCAOB ID 67813
  • On EDGAR sinceSep 30, 20131
  • Filings294 in all: 6-K (132), UPLOAD (23), CORRESP (22), 20-F (12), SC 13G (12), 424B5 (10), F-1/A (10), 6-K/A (8)1
    All 31 form types

    EFFECT (8), 20-F/A (7), NT 20-F (7), 3 (5), F-3 (5), SC 13G/A (5), F-3/A (4), DRS/A (3), DRSLTR (3), 424B3 (2), DRS (2), F-1 (2), S-8 (2), 144 (1), 424B1 (1), 8-A12B (1), CERTNAS (1), D (1), POS AM (1), RW (1), RW WD (1), SC 13D (1), SCHEDULE 13G (1)

  • Latest filingsAnnual report (20-F) May 14, 2026

Securities registered for trading

ClassSymbolExchange
Class A common sharesTANHNasdaq

From the cover page of the 20-F filed May 14, 2026 (Section 12(b) of the Exchange Act).3

Sources

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