Tantech Holdings Ltd
Key statistics
from XBRL data in SEC filingsAI briefing
from the latest 10-K, 10-Q and 8-K eventsTantech Holdings Ltd is a British Virgin Islands-incorporated holding company whose principal operations are in Lishui City, Zhejiang Province, China, and whose Class A common shares trade on the Nasdaq Capital Market under the symbol TANH.
What they do
Tantech Holdings Ltd operates through subsidiaries in the People's Republic of China, with principal executive offices at No. 10 Cen Shan Road, Shuige Industrial Zone, Lishui City, Zhejiang Province. The company is registered with the SEC as a foreign private issuer and files annual reports on Form 20-F. Its Class A common shares are registered under Section 12(b) of the Securities Exchange Act of 1934 and listed on the Nasdaq Capital Market.
Revenue drivers
- Not disclosed in provided excerpts — The provided filings contain only the Form 20-F cover page, table of contents, and forward-looking statements; no segment or product-line revenue breakdown is included in the source material.
Recent performance
Revenue declined from $55.3 million in 2021 to $38.4 million in 2025, with annual decreases in each year. Net income swung from positive $5.6 million in 2023 to negative $3.2 million in 2024 and negative $31.0 million in 2025. Operating cash flow turned negative in 2025 at negative $5.8 million after four consecutive years of positive or near-positive results from 2022 through 2024. Diluted EPS was negative $13.64 in 2025. At December 31, 2025, total assets were $124.0 million, total liabilities were $13.6 million, and shareholder equity was $110.3 million, including $33.0 million of cash and equivalents.
Strategy
The provided excerpts do not include a strategy discussion from Item 4 or Item 5 of the Form 20-F. The table of contents indicates that operating and financial review and prospects are addressed in Item 5, but that section's text is not included in the source material. No specific investments, priorities, or stated direction can be cited from the available filing excerpts. The forward-looking statements note that the company operates in a competitive and rapidly changing environment, but no strategic initiatives are described.
Risks
- Revenue decline — Revenue has fallen every year from $55.3 million in 2021 to $38.4 million in 2025, a cumulative decline of approximately 31%.
- Net losses — The company reported a net loss of $31.0 million in 2025, following a $3.2 million net loss in 2024, after net income of $5.6 million in 2023.
- Negative operating cash flow — Operating cash flow was negative $5.8 million in 2025, the first negative result since 2021.
- Foreign private issuer and China operations — As a British Virgin Islands company with principal operations in the PRC, the company is subject to risks related to its jurisdiction of incorporation and its China-based business, though specific risk factors are not included in the provided excerpts.
Outlook
The provided excerpts do not include management's outlook or guidance for future periods. The forward-looking statements section notes that actual results could differ materially from expectations due to risks and uncertainties, but no specific forward guidance is provided in the source material. No outlook can be summarized from the available filing excerpts.