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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 205

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

  

Date of Report (Date of earliest event reported): June 15, 2026

 

PLANET GREEN HOLDINGS CORP.
(Exact name of registrant as specified in its charter)

 

Nevada   001-34449   87-0430320
(State or other jurisdiction
of incorporation)
  (Commission File Number)   (IRS Employer
Identification No.)

 

36-10 Union St. 2nd Floor

Flushing, NY

 

 

11354

(Address of principal executive offices)   (Zip Code)

 

Registrant’s telephone number, including area code:(347) 370 2352

 

Not Applicable
(Former name or former address, if changed since last report)

  

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

  

Title of each class   Trading Symbol(s)   Name of each exchange on which
registered
Common Stock, par value $0.001 per share   PLAG   NYSE American

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 


 

Item 2.01 Completion of Acquisition or Disposition of Assets.

 

On June 15, 2026, Planet Green Holdings Corp. (the “Company”) completed the disposition of its 100% equity interest in Bless Chemical Co., Ltd. HK (“Bless HK”), the indirect owner of Jingshan Sanhe Luckysky New Energy Technologies Co., Ltd. (“Jingshan”), to Hongzhang Liang for nominal consideration (the “Disposition”). Mr. Liang is not affiliated with the Company and has no material relationship with the Company or any of its directors or executive officers.

 

The Board of Directors (the “Board”) of the Company determined that it was in the best interests of the Company and its stockholders to discontinue the operations of Jingshan, an indirect wholly owned subsidiary of the Company and dispose of its equity interest in Bless HK. In approving the Disposition, the Board considered various factors, including Jingshan’s financial condition, existing liabilities and obligations, operating status, anticipated future funding requirements, and the Company’s strategic objective of focusing its resources and management attention on its core consumer products and digital advertising businesses. The Board determined that the discontinuation of Jingshan’s operations and the disposition of Bless HK would streamline the Company’s operations, reduce future funding commitments and potential liabilities associated with Jingshan, and better align the Company’s business activities with its long-term strategic objectives. Accordingly, the Board concluded that the Disposition was in the best interests of the Company and its stockholders. Prior to the Disposition, Jingshan had ceased active operations and was not generating revenue.

 

Bless HK indirectly held 100% of the equity interests in Jingshan through Hubei Bulaisi Technology Co., Ltd. and did not own any other operating assets of the Company. As a result of the Disposition, the Company no longer owns or controls Bless HK or Jingshan, and the assets, liabilities, and results of operations of Bless HK and Jingshan will no longer be consolidated in the Company’s consolidated financial statements from and after the closing of the Disposition.

 

Item 9.01 Financial Statements and Exhibits.

 

(b) Pro Forma Financial Information.

 

The unaudited pro forma condensed consolidated financial information of the Company giving effect to the disposition described in Item 2.01 of this Current Report on Form 8-K is filed as Exhibit 99.1 hereto and is incorporated herein by reference.

 

(d) Exhibits

 

Exhibit No.   Description
99.1   Unaudited Pro Forma Condensed Consolidated Financial Information.
104   Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

1


 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

 

Dated: June 17, 2026 PLANET GREEN HOLDINGS CORP.
   
  By:   /s/ Bin Zhou  
  Name:  Bin Zhou
  Title:  Chief Executive Officer and Chairman

 

 

2

 

 

EX-99.1 2 ea029399001ex99-1.htm UNAUDITED PRO FORMA CONDENSED CONSOLIDATED FINANCIAL INFORMATION

Exhibit 99.1

 

UNAUDITED PRO FORMA CONDENSED CONSOLIDATED FINANCIAL INFORMATION

 

Introduction

 

The following unaudited pro forma condensed consolidated balance sheet as of March 31, 2026 and December 31, 2025, the unaudited pro forma condensed consolidated statements of operations for the three months ended March 31, 2026 and for the year ended December 31, 2025 present the financial information of the Company after giving effect to the Disposition and related adjustments.

 

The unaudited pro forma condensed consolidated balance sheet presents the unaudited balance sheet of the Company as of March 31, 2026, giving effect to the Disposition as if it had been completed on March 31, 2026.

 

The unaudited pro forma condensed consolidated balance sheet presents the audited balance sheet of the Company as of December 31, 2025, giving effect to the Disposition as if it had been completed on December 31, 2025.

 

The unaudited pro forma condensed consolidated statements of operations for the three months ended March 31, 2026 presents the unaudited statement of operations of the Company for three months ended March 31, 2026, giving effect to the Disposition as if it had occurred on January 1, 2026, the beginning of the earliest period presented.

 

The unaudited pro forma condensed consolidated statements of operations for the year ended December 31, 2025 presents the audited statement of operations of the Company for the year ended December 31, 2025, giving effect to the Disposition as if it had occurred on January 1, 2025, the beginning of the earliest period presented.

 

The unaudited pro forma condensed consolidated financial information has been presented for illustrative purposes only and does not necessarily reflect what the company’s financial condition or results of operations would have been had the Disposition occurred on the dates indicated.

 

Description of the Disposition

 

On June 15, 2026, Planet Green Holdings Corp. (the “Company”) completed the disposition of its 100% equity interest in Bless Chemical Co., Ltd. HK (“Bless HK”) , the indirect owner of Jingshan Sanhe Luckysky New Energy Technologies Co., Ltd. (“Jingshan”), to Hongzhang Liang for nominal consideration. Mr. Liang is not affiliated with the Company and has no material relationship with the Company or any of its directors or executive officers.

 

Bless HK indirectly held 100% of the equity interests in Jingshan through Hubei Bulaisi Technology Co., Ltd. (“Hubei Bulaisi”) and did not own any other operating assets of the Company. As a result of the Disposition, the Company no longer owns or controls Bless HK or Jingshan, and the assets, liabilities, and results of operations of Bless HK and Jingshan will no longer be consolidated in the Company’s consolidated financial statements from and after the closing of the Disposition.

 


 

Unaudited Pro Forma Condensed Consolidated Balance Sheet

As of March 31, 2026

 

    Balance Sheet
as of March 31,
2026
    Transaction
Accounting
Adjustments
    Note   Pro forma
Balance Sheet
 
    (Unaudited)                  
Assets                      
Current assets:                      
Cash   $ 5,470,815     $ (1,290 )   (1)   $ 5,468,075  
              (1,450 )   (2)        
Accounts receivables, net     1,384,819       (46,620 )   (1)     1,338,199  
Inventories, net     609,838       (139,921 )   (1)     469,917  
Advance to suppliers, net     1,009,092       (962,564 )   (1)     46,528  
Other receivables, net     2,716       -           2,716  
Other receivables–related parties     3,081,792       (3,081,792 )   (1)     -  
Prepaid expenses     24,841       (24,820 )   (1)     21  
Total current assets      11,583,913        (4,258,457 )          7,325,456  
                             
Non-current assets                            
Plant and equipment, net     4,579,355       (1,876,194 )   (1)     2,703,161  
Intangible assets, net     701,208       (7,978 )   (1)     693,230  
Goodwill     15,329       -           15,329  
Total non-current assets      5,295,892        (1,884,172 )           3,411,720  
                             
Total assets   $ 16,879,805     $ (6,142,629 )       $ 10,737,176  
                             
Liabilities and Stockholders’ Equity                            
Current liabilities                            
Loans-current   $ 3,618,850     $ (3,616,990 )   (1)   $ 1,860  
Accounts payable     6,633,495       (648,339 )   (1)     5,985,156  
Advance from customers     212,899       (61,355 )   (1)     151,544  
Taxes payable     884,752       -           884,752  
Other payables and accrued liabilities     1,951,020       (153,709 )   (1)     1,797,311  
Other payables–related parties     3,180,701       290,478     (1)     3,471,179  
Total current liabilities      16,481,717        (4,189,915 )          12,291,802  
                             
Loans-noncurrent     2,045,520       (2,045,520 )   (1)     -  
Total liabilities      18,527,237        (6,235,435 )          12,291,802  
                             
Commitments and contingencies                            
                             
Stockholders’ equity (deficit)                            
Preferred stock: $0.001 par value, 100,000,000 shares authorized; none issued or outstanding as of March 31, 2026     -       -           -  
Common stock: $0.001 par value, 1,500,000,000 shares authorized; 14,232,714 shares issued and outstanding as of March 31, 2026     14,233       -           14,233  
Additional paid in capital     170,190,324       -           170,190,324  
Accumulated deficit     (174,717,437 )     42,830     (1)     (174,674,607 )
              (1,475 )   (2)     (1,475 )
Accumulated other comprehensive income     2,680,006       51,426     (1)     2,731,457  
              25     (2)        
Non-controlling interests     185,442       -           185,442  
Total stockholders’ deficit      (1,647,432 )      92,806            (1,554,626 )
                             
Total liabilities and stockholders’ equity (deficit)   $ 16,879,805     $ (6,142,629 )       $ 10,737,176  

 

(1) Reflects the disposal of Jingshan;
(2) Reflects the disposal of Hubei Bulaisi.

 

2


 

Unaudited Pro Forma Condensed Consolidated Balance Sheet

As of December 31, 2025

 

    Balance Sheet
as of December 31,
2025
    Transaction
Accounting
Adjustments
    Note   Pro forma
Balance Sheet
 
Assets                      
Current assets:                      
Cash   $ 118,956     $ (101,775 )   (1)   $ 15,751  
              (1,430 )   (2)        
Accounts receivables, net     209,206       (74,876 )   (1)     134,330  
Inventories, net     737,970       (138,706 )   (1)     599,264  
Advance to suppliers, net     984,566       (946,947 )   (1)     37,619  
Other receivables, net     1,610       (572 )   (1)     1,038  
Other receivables–related parties     2,736,302       (2,729,917 )   (1)     6,385  
Prepaid expenses     20,071       (20,050 )   (1)     21  
Total current assets      4,808,681       (4,014,273 )          794,408  
                             
Non-current assets                            
Plant and equipment, net     4,652,972       (1,933,555 )   (1)     2,719,417  
Intangible assets, net     717,311       (8,068 )   (1)     709,243  
Construction in progress, net     23,909                   23,909  
Goodwill     7,005       -           7,005  
Total non-current assets      5,401,197       (1,941,623 )          3,459,574  
                             
Total assets   $ 10,209,878     $ (5,955,896 )       $ 4,253,982  
                             
Liabilities and Stockholders’ Equity                            
Current liabilities                            
Loans-current   $ 5,255,536     $ (5,183,252 )   (1)   $ 72,284  
Accounts payable     2,114,143       (592,016 )   (1)     1,522,127  
Advance from customers     213,127       (62,200 )   (1)     150,927  
Taxes payable     232,066       (96,155 )   (1)     135,911  
Other payables and accrued liabilities     2,140,130       (325,552 )   (1)     1,814,578  
Other payables–related parties     1,924,426       1,024,398     (1)     2,948,824  
Total current liabilities      11,879,428       (5,234,777 )          6,644,651  
                             
Loans-noncurrent     500,493       (428,994 )   (1)     71,499  
Total liabilities      12,379,921       (5,663,771 )          6,716,150  
                             
Commitments and contingencies                            
                             
Stockholders’ equity (deficit)                            
Preferred stock: $0.001 par value, 100,000,000 shares authorized; none issued or outstanding as of December 31, 2025     -       -           -  
Common stock: $0.001 par value, 1,500,000,000 shares authorized; 14,232,714 shares issued and outstanding as of December 31, 2025     14,233       -           14,233  
Additional paid in capital     170,190,324       -           170,190,324  
Accumulated deficit     (175,029,363 )     (417,719 )   (1)     (175,447,082 )
              (1,506 )   (2)     (1,506 )
Accumulated other comprehensive income     2,658,143       127,024     (1)     2,785,243  
              76     (2)        
Non-controlling interests     (3,380 )     -           (3,380 )
Total stockholders’ deficit      (2,170,043 )     (292,125 )          (2,462,168 )
                             
Total liabilities and stockholders’ equity (deficit)   $ 10,209,878     $ (5,955,896 )       $ 4,253,982  

 

(1) Reflects the disposal of Jingshan;

(2) Reflects the disposal of Hubei Bulaisi.

 

3


 

Unaudited Pro Forma Condensed Consolidated Statement of Operations

For The Three Months Ended March 31, 2026

 

   

For the
Three Months
Ended
March 31,
2026

    Transaction
Accounting
Adjustments
    Note   Pro forma
Income
statement
 
    (Unaudited)                  
Revenue, net   $ 6,357,593     $ (57,217 )   (i)   $ 6,300,376  
Cost of revenue     (442,371 )     56,796     (i)     (385,575 )
Promotion cost      (4,385,290 )            -             (4,385,290 )
Gross profit      1,529,932        (421 )          1,529,511  
                             
Operating expenses                            
Selling and marketing     12,131       (3,414 )   (i)     8,717  
General and administrative     951,095       (321,301 )   (i)     629,794  
Research and development     12,382       (12,264 )   (i)     118  
Total operating expenses      975,608        (336,979 )          638,629  
                             
Operating income      554,324        336,558            890,882  
                             
Other income (expenses)                            
Interest income     33       (4 )   (i)     29  
Interest expense     (49,144 )     48,711     (i)     (433 )
Other expenses     (2,358 )     2,357     (i)     (1 )
Total other expenses      (51,469 )      51,064            (405 )
                             
Income before income taxes     502,855       387,622           890,477  
                             
Income tax expenses       -              -                    -  
                             
Net income from continuing operations     502,855     $ 387,622         $ 890,477  
                             
Discontinued operations:                            
Loss from discontinued operations     -       (344,792 )   (i)     (346,267 )
                (1,475 )   (ii)         
                             
Net income     502,855       41,355           544,210  
                             
Less: net income attributable to non-controlling interest      190,929                         -            190,929  
                             
Net income attributable to shareholders of Planet Green Holdings Corp.      311,926        41,355            353,281  
                             
Income (loss) per share of common stock - basic and diluted                            
Continuing operations   $ 0.04                 $ 0.06  
Discontinued operations   $ -                 $ (0.02 )
Basic and diluted weighted average shares outstanding      14,232,714                    14,232,714  

 

(i) Reflects the disposal of Jingshan;
(ii) Reflects the disposal of Hubei Bulaisi.

 

4


 

Unaudited Pro Forma Condensed Consolidated Statement of Operations

For The Year Ended December 31, 2025

 

    For the
Year Ended
December 31,
2025
    Transaction
Accounting
Adjustments
    Note   Pro forma Income statement  
Revenue, net   $ 3,040,616     $ (2,790,407 )   (i)   $ 250,209  
Cost of revenue      (2,939,679 )      2,742,658     (i)       (197,021 )
Gross profit      100,937        (47,749 )           53,188  
                             
Operating expenses                            
Selling and marketing     32,302       (14,909 )   (i)     17,393  
General and administrative     17,641,990       (1,500,116 )   (i)     16,141,874  
Research and development     70,222       (70,222 )   (i)     -  
Total operating expenses      17,744,514        (1,585,247 )          16,159,267  
                             
Operating loss      (17,643,577 )      1,537,498            (16,106,079 )
                             
Other income (expenses)                            
Interest income     139       (136 )   (i)     2  
              (1 )   (ii)        
Interest expense     (155,538 )     145,090     (i)     (10,448 )
Other income     32,883       (32,883 )         -  
Other expenses     (14,104 )     8,051     (i)     (6,053 )
Total other expenses      (136,620 )      120,121            (16,499 )
                             
Loss before income taxes     (17,780,197 )     1,657,619           (16,122,578 )
                             
Income tax expenses      (11,299 )            -            (11,299 )
                             
Net loss from continuing operations     (17,791,496 )     1,657,619           (16,133,877 )
                             
Discontinued operations:                            
Loss from discontinued operations     (9,184,214 )     (2,075,339 )   (i)     (11,261,058 )
                               (1,505 )   (ii)        
                             
Net loss   $ (26,975,710 )   $ (419,225 )       $ (27,394,935 )
                             
Loss per share of common stock - basic and diluted                            
Continuing operations   $ (2.21 )               $ (2.00 )
Discontinued operations   $ (1.14 )               $ (1.40 )
Basic and diluted weighted average shares outstanding      8,061,755                    8,061,755  

 

(i) Reflects the disposal of Jingshan;
(ii) Reflects the disposal of Hubei Bulaisi.

 

 

5