| Organization and Nature of Business |
Note 1 – Organization and Nature of Business Tantech Holdings Ltd (“Tantech BVI” or “the Company”) is a holding company established under the laws of the British Virgin Islands on November 9, 2010. Tantech BVI, through its subsidiaries (together as the “Group”) engages in research, development, production and distribution of various products made from bamboo and investment in mining exploration. As of December 31, 2024, details of the subsidiaries of the Group and their principal business activities are set out below: Name of Entity | | Date of Incorporation | | Place of Incorporation | | % of Ownership | | Principal Activities | Tantech Holdings Ltd (“Tantech” or “Tantech BVI”) | | November 9, 2010 | | BVI | | Parent | | Holding Company | EAG International Vantage Capitals Limited (“Euroasia”) | | April 27, 2015 | | Hong Kong | | 100% by the Parent | | Holding Company | USCNHK Holding Limited (“USCNHK Holding ”) | | December 13, 2024 | | Hong Kong | | 100% by the Parent | | Holding Company | EPakia Inc. (“EPakia”) | | May 19, 2022 | | United States | | 100% by the Parent | | Marketing and selling | Gohomeway Inc (“Gohomeway Holding”) | | December 3, 2024 | | United States | | 100% by the Parent | | Holding Company | Gohomeway Group Inc (“Gohomeway”) | | December 3, 2024 | | United States | | 100% by Gohomeway Holding | | Construction materials sales and services business | Euroasia New Energy Automotive (Jiangsu) Co. Ltd. (“Euroasia New Energy”) | | October 24, 2017 | | Zhangjia Gang, Jiangsu Province, China | | 100% by Euroasia | | Holding Company | Shanghai Jiamu Investment Management Co., Ltd (“Jiamu”) | | July 14, 2015 | | Shanghai, China | | 100% by Euroasia | | Holding Company | Hangzhou Wangbo Investment Management Co., Ltd (“Wangbo”) (i) | | February 2, 2016 | | Hangzhou, Zhejiang Province, China | | 100% by Jiamu | | Holding Company | Hangzhou Jiyi Investment Management Co., Ltd (“Jiyi”) (i) | | February 2, 2016 | | Hangzhou, Zhejiang Province, China | | 100% by Jiamu | | Holding Company | Shangchi Automobile Co., Ltd. (“Shangchi Automobile”) (i) | | Acquired on July 12, 2017 | | Zhangjia Gang, Jiangsu Province, China | | 51% by Wangbo and 19% by Jiyi | | Manufacturing and sale of specialty electric and non-electric vehicles and power batteries | Shenzhen Yimao New Energy Sales Co., Ltd. (“Shenzhen Yimao”) (i) | | November 13, 2018 | | Shenzhen, Guangdong Province, China | | 100% by Shangchi Automobile | | Electric vehicles sales | Zhejiang Zhugu Xingqi Technology Co., Ltd. (“Zhugu Xingqi”) | | August 10, 2023 | | Lishui, Zhejiang Province, China | | 100% by Lishui Xincai | | Manufacturing, selling and trading various products made from bamboo and charcoal | Zhejiang Shangnilai Technology Co., Ltd. (“Shangnilai”) (ii) | | November 12, 2020 | | Lishui, Zhejiang Province, China | | 100% by Lishui Tantech | | Manufacturing, selling and trading various products made from bamboo and charcoal | Lishui Smart New Energy Automobile Co., Ltd. (“Lishui Smart”) | | November 16, 2020 | | Lishui, Zhejiang Province, China | | 100% by Lishui Tantech | | Research, development and manufacturing new energy automobiles | Gangyu Trading (Jiangsu) Co., Ltd. (“Gangyu Trading”) | | August 10, 2021 | | Zhangjiagang Jiangsu Province, China | | 100% by Euroasia New Energy | | Marketing and selling electric vehicles | Shangchi (Zhejiang) Intelligent Equipment Co., Ltd. (“Shangchi Intelligent Equipment”) | | August 26, 2021 | | Pinghu Zhejiang Province, China | | 100% by Euroasia | | Manufacturing and sales company focusing on new energy vehicles | Shanghai Wangju Industrial Group Co., Ltd. (“Shanghai Wangju”) | | September 23, 2021 | | Shanghai, China | | 100% by Jiamu | | Investing in the factoring industry | Eurasia Holdings (Zhejiang) Co., Ltd. (“Eurasia Holdings”) | | July 15, 2021 | | Hangzhou Zhejiang province, China | | 100% by Euroasia | | Marketing and selling electric vehicles | Hangzhou Eurasia Supply Chain Co., Ltd. (“Eurasia Supply”) | | August 4, 2021 | | Hangzhou Zhejiang province, China | | 100% by Eurasia Holdings | | Supply chain business | Zhejiang Shangchi Medical Equipment Co., Ltd. (“Shangchi Medical”) | | November 13, 2021 | | Pinghu Zhejiang Province, China | | 100% by Shangchi Intelligent Equipment | | Manufacturing and sales company focusing on new energy vehicles | Shenzhen Shangdong Trading Co., Ltd. (“Shenzhen Shangdong”) | | July 13, 2016 | | Shenzhen Guangdong Province, China | | 100% by Shanghai Wangju | | Investing in the factoring industry | China East Trade Co., Ltd. (“China East”) | | February 15, 2018 | | Hong Kong | | 100% by Euroasia | | Investing in the factoring industry | First International Commercial Factoring (Shenzhen) Co., Ltd. (“First International”) | | July 27, 2017 | | Shenzhen Guangdong Province, China | | 75% by Shenzhen Shangdong 25% by China East | | Investing in the factoring industry |
(i) On May 15, 2025, the Group closed the sale of its Electric Vehicle business (the “EV Business”), comprised of 100% equity interest in Jiyi, 100% equity interest in Wangbo, 70% equity interest in Shangchi Automobile (51% equity held by Wangbo and 19% equity held by Jiyi) and 100% equity interest in Shenzhen Yimao held by Shangchi Automobile. The Group determined the disposal of its EV business represented a strategical shift of the Group’s business operations; therefore, the related operations were accounted for, presented and disclosed as discontinued operations. Accordingly, assets, liabilities, revenues and expenses and cash flows related to the EV Business have been retroactively reclassified in the consolidated financial statements as discontinued operations for all periods presented. (ii) On January 31, 2024, Zhejiang Shangchi New Energy Automobile Co., Ltd (“Zhejiang Shangchi”) changed its name to Zhejiang Jiangshangnilai Technology Co., Ltd (“Shangnilai”).
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