olivLaw · US equity research
Tantech Holdings Ltd TANH
Industrial Organic Chemicals · SIC 2860 · Vertical: Industrial Organic Chemicals (SIC 2860)
Tantech Holdings Ltd, known mainly for its bamboo charcoal products sold under the Charcoal Doctor brand, reported continuing-operations revenue of about 38.4 million USD in fiscal 2025, down 10.7% from the prior year. The company is in a restructuring phase, having agreed to sell its electric vehicle division and expanded into construction materials in the United States, so its trajectory is worth following closely.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, Tantech Holdings Ltd (TANH) stock was 14.50 USD (−0.96% on the day), with market capitalisation 90.1 m USD, beta 0.78, 52-week range 8.81–59.50 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 49.9
- neutral
- Bollinger (20, 2)
- 7.40 – 21.13
- in the upper half of the band · %B 0.52 · band width 96.2%
- SMA 50 / 200
- 15.76 / 24.96
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.61 / -0.73
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +3.4% | −1.1% | +4.5 pp | — |
| 3 months | −30.0% | −0.5% | −29.5 pp | — |
| 6 months | −20.1% | +4.4% | −24.5 pp | — |
| Year to date | −71.0% | +12.3% | −83.3 pp | — |
| 1 year | −77.3% | +13.5% | −90.9 pp | −1.7% |
| 3 years | −99.7% | +76.4% | −176.1 pp | −26.4% |
| 5 years | −100.0% | +63.7% | −163.7 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 29.6 m | 49.2 m | 42.3 m | 55.3 m | 53.0 m | 44.6 m | 42.9 m | 38.4 m |
| Revenue YoY | −30.1% | +66.5% | −14.1% | +30.7% | −4.2% | −15.7% | −3.8% | −10.7% |
| Net income | 2.0 m | -6.4 m | -6.5 m | -8.4 m | 2.6 m | 5.6 m | -3.2 m | -31.0 m |
| Net income YoY | −47.5% | −421.6% | unavailable | unavailable | unavailable | +115.9% | −158.1% | unavailable |
| Diluted EPS | unavailable | -2.20 | -52.93 | -48.35 | 120.10 | 80.69 | -7.66 | -13.64 |
| Diluted EPS YoY | unavailable | unavailable | unavailable | unavailable | unavailable | −32.8% | −109.5% | unavailable |
| net % | 6.7% | -12.9% | -15.4% | -15.1% | 4.9% | 12.5% | -7.5% | -80.9% |
| Free cash flow | 14.1 m | 14.6 m | 14.0 m | -8.3 m | 8.3 m | 5.3 m | 5.3 m | -5.8 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 33.0 m USD
- Financial debt
- unavailable USD
- Net debt
- unavailable USD
- Equity
- 110.3 m USD
- Total assets
- 124.0 m USD
- Debt / equity
- unavailable
- Current ratio
- 6.59x
- ROE
- -26.0%
- ROA
- -23.2%
- FCF margin
- -15.2%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 42.3 m | 55.3 m | 53.0 m | 44.6 m | 42.9 m | 38.4 m | SEC (XBRL)· 14 May 2026verified |
| Cost of revenue | 37.8 m | 44.8 m | 42.9 m | 34.9 m | 34.0 m | 31.2 m | SEC (XBRL)· 14 May 2026verified |
| Gross profit | 4.5 m | 10.4 m | 10.1 m | 9.7 m | 8.9 m | 7.1 m | SEC (XBRL)· 14 May 2026verified |
| Research & development | 890.3 k | 8.1 m | 23.2 k | 23.9 k | 38.8 k | 78.6 k | SEC (XBRL)· 14 May 2026verified |
| Operating income | -10.3 m | -8.5 m | 5.9 m | 3.7 m | 4.0 m | -12.2 m | SEC (XBRL)· 14 May 2026verified |
| Interest expense | 300.1 k | 740.4 k | 476.2 k | 301.5 k | 290.4 k | 279.6 k | SEC (XBRL)· 14 May 2026verified |
| Pre-tax income | -10.6 m | -8.3 m | 7.2 m | 9.3 m | 624.3 k | -33.5 m | SEC (XBRL)· 14 May 2026verified |
| Income tax | -611.7 k | 2.4 m | 3.1 m | 2.4 m | 3.1 m | -2.5 m | SEC (XBRL)· 14 May 2026verified |
| Net income | -6.5 m | -8.4 m | 2.6 m | 5.6 m | -3.2 m | -31.0 m | SEC (XBRL)· 14 May 2026verified |
| Diluted EPS | -52.93 | -48.35 | 120.10 | 80.69 | -7.66 | -13.64 | SEC (XBRL)· 14 May 2026verified |
| Weighted average diluted shares | 123.2 k | 172.9 k | 25.2 k | 69.2 k | 423.2 k | 2.3 m | SEC (XBRL)· 14 May 2026verified |
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 37.1 m | 43.1 m | 19.0 m | 29.1 m | 35.2 m | 33.0 m | SEC (XBRL)· 14 May 2026verified |
| Receivables | — | — | — | — | 32.6 m | 27.8 m | SEC (XBRL)· 14 May 2026verified |
| Inventories | 671.3 k | 1.1 m | 898.7 k | 236.4 k | 191.2 k | 152.4 k | SEC (XBRL)· 14 May 2026verified |
| Current assets | 81.9 m | 105.8 m | 106.8 m | 115.7 m | 117.8 m | 74.0 m | SEC (XBRL)· 14 May 2026verified |
| Property, plant & equipment, net | 2.5 m | 2.1 m | 1.7 m | 25.9 k | 123.3 k | 102.8 k | SEC (XBRL)· 14 May 2026verified |
| Intangibles (excl. goodwill) | 664.0 k | 206.0 k | 184.8 k | 211.1 k | 184.5 k | 170.8 k | SEC (XBRL)· 14 May 2026verified |
| Total assets | 116.3 m | 134.5 m | 134.1 m | 141.7 m | 143.0 m | 124.0 m | SEC (XBRL)· 14 May 2026verified |
| Accounts payable | 1.5 m | 1.6 m | 2.1 m | 851.4 k | 358 | 477.8 k | SEC (XBRL)· 14 May 2026verified |
| Current liabilities | 16.8 m | 21.8 m | 13.5 m | 17.6 m | 11.8 m | 11.2 m | SEC (XBRL)· 14 May 2026verified |
| Total liabilities | 16.8 m | 22.0 m | 18.2 m | 18.7 m | 14.7 m | 13.6 m | SEC (XBRL)· 14 May 2026verified |
| Equity | 99.5 m | 112.5 m | 115.9 m | 123.0 m | 128.3 m | 110.3 m | SEC (XBRL)· 14 May 2026verified |
| Shares outstanding at year end | 35.9 m | 6.4 m | 1.2 m | 3.8 m | 1.1 m | — | SEC (XBRL)· 15 May 2025verified |
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 14.2 m | -8.1 m | 8.3 m | 5.3 m | 5.4 m | -5.8 m | SEC (XBRL)· 14 May 2026verified |
| Capex | 144.8 k | 220.3 k | 1.6 k | 431 | 80.5 k | 0 | SEC (XBRL)· 14 May 2026verified |
| Free cash flow | 14.0 m ≈ | -8.3 m ≈ | 8.3 m ≈ | 5.3 m ≈ | 5.3 m ≈ | -5.8 m ≈ | SEC (XBRL)· 14 May 2026derived |
| Investing cash flow | -123.0 k | 524.1 k | -45.0 m | -2.6 m | -3.3 m | -1.1 m | SEC (XBRL)· 14 May 2026verified |
| Financing cash flow | 8.9 m | 12.8 m | 15.3 m | 7.4 m | 3.5 m | 3.4 m | SEC (XBRL)· 14 May 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
Risk
Valuation
olivLaw classification
- indicators available: 5 of at least 6
- score weight coverage: 33.3% of at least 60%
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 90.1 m USD
Key indicators
Coverage and freshness
Score by group
33% · Insufficient data
Estimated value range
unavailable — no valuation method could be computed
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
- DCF (discounted cash flow)unavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: P/Eunavailable · the base of the ratio is not positive
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
no valuation method could be computed
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 5 of at least 6; score weight coverage: 33.3% of at least 60%; valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | -80.9% | 11 (vs peers) | 19% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | -10.2% | 0 (on a fixed band) | 25% |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | -43.7x | 0 (on a fixed band) | 19% |
| Current ratio · Balance sheet | 6.6x | 100 (on a fixed band) | 13% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | -6.5% | 0 (on a fixed band) | 25% |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet40/100 · 2/3 factors with a value
- Growth· partial0/100 · 1/2 factors with a value
- Quality· partial11/100 · 1/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partial0/100 · 1/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
TANTECH HOLDINGS LTD (TANH). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 38.4 m USD in 2025; YoY growth -10.7%; net margin -80.9%; ROE -25.7%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (indicators available: 5 of at least 6; score weight coverage: 33.3% of at least 60%; valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Current ratio: 6.6x
What contradicts it
- Net margin: -80.9%
- Revenue CAGR 3Y: -10.2%
- Interest coverage: -43.7x
- FCF yield: -6.5%
Not assessed (insufficient data or a ratio without meaning): ROIC, FCF conversion, EPS CAGR 3Y, Net debt / EBITDA, P/E (TTM), EV/EBITDA, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Industrial Organic Chemicals (SIC 2860) · same industry (4-digit SIC) · compared with 20 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| IFFInternational Flavors & Fragrances Inc | 22.0 bn | 122.1 | 1.3% | 1.6% | −5.2% | +26% / +16% |
| LYBLyondellbasell Industries N.V. | 20.4 bn | 15.6 | 11.9% | 4.1% | −9.7% | +29% / −34% |
| WLKWestlake Corporation | 8.7 bn | — | -4.9% | -3.9% | −8.0% | +2% / −47% |
| NEUNewmarket Corporation | 6.7 bn | 14.7 | 25.3% | 16.5% | −2.2% | −5% / +37% |
| SXTSensient Technologies Corp | 5.4 bn | 31.7 | 13.7% | 9.7% | +3.5% | +29% / +117% |
| MEOHMethanex Corporation | 5.0 bn | 70.1 | 6.4% | 4.0% | −3.5% | +83% / +53% |
| REXRex American Resources Corporation | 1.3 bn | 10.5 | 22.5% | 20.9% | +1.2% | +20% / +62% |
| GPREGreen Plains Inc. | 957.5 m | 8.6 | 15.4% | 6.8% | −14.9% | +32% / −45% |
| WLKPWestlake Chemical Partners LP | 761.8 m | 12.9 | — | 4.8% | +2.7% | +14% / −5% |
| GEVOGevo, Inc. | 316.5 m | — | -57.0% | -119.9% | +849.3% | −40% / +13% |
| ALTOAlto Ingredients, Inc. | 271.5 m | 5.3 | 22.2% | 5.5% | −4.9% | +37% / +43% |
| FFFuturefuel Corp. | 246.5 m | — | -18.3% | -19.9% | −60.7% | +70% / −5% |
| CDXSCodexis, Inc. | 118.3 m | — | -69.4% | -39.6% | +18.6% | −38% / −54% |
| LODEComstock Inc. | 113.3 m | — | -38.2% | -3,680.5% | −48.5% | −58% / −68% |
| AMTXAemetis, Inc | 90.2 m | — | — | -27.4% | −26.2% | −28% / −72% |
| TANHTantech Holdings Ltd | 90.1 m | — | -25.7% | -80.9% | −10.7% | −77% / −100% |
| LNZALanzaTech Global, Inc. | 69.2 m | 0.4 | 146.4% | 295.7% | +12.6% | −63% / −99% |
| SAFXXcf Global, Inc. | 41.0 m | — | -246.1% | — | unavailable | −87% / unavailable |
| TOMZTomi Environmental Solutions, Inc. | 18.2 m | — | -168.8% | -49.8% | −27.2% | −6% / −26% |
| CNEYCn Energy Group. Inc. | 2.5 m | — | -11.2% | -31.3% | −30.2% | −65% / −99% |
| BAKBraskem SA | — | — | — | -14.6% | +9.7% | −61% / −86% |
1- and 3-year price returns: for TANH from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 14 May 2026; since then the company filed 6-K (02 Oct 2026), 6-K (24 Sept 2026), 6-K (01 Sept 2026), 6-K (19 Aug 2026), 6-K (06 Aug 2026), 6-K (04 Aug 2026).
In brief
Tantech Holdings Ltd, known mainly for its bamboo charcoal products sold under the Charcoal Doctor brand, reported continuing-operations revenue of about 38.4 million USD in fiscal 2025, down 10.7% from the prior year 1. The company is in a restructuring phase, having agreed to sell its electric vehicle division and expanded into construction materials in the United States, so its trajectory is worth following closely.
SWOT
Strengths
- The company has a well-known brand in the bamboo charcoal category, described as one of the largest and most famous in the market 1.
- The product range is diversified across several consumer categories, from purification to cleaning and barbecue charcoal 1.
- Presenting the electric vehicle division as a discontinued operation could make the core business performance more transparent 1.
Weaknesses
- Revenue fell over the last two years and gross margin narrowed, pointing to pressure on profitability 1.
- The 2025 operating and net losses were driven largely by impairments and credit-loss allowances rather than only by current operations 1.
- Concentration on a few large customers and suppliers exposes the company to the loss of an important partner 1.
Opportunities
- Development of agricultural products based on bamboo vinegar could open a new market, according to the report 1.
- The U.S. construction materials business could reduce dependence on the Chinese market if it reaches sufficient scale 1.
- A recovery in the property market or household consumption could revive sales of cleaning and purification products 1.
Threats
- A slowdown in the Chinese economy and lower spending on household goods could reduce demand for the company's products 1.
- Larger competitors with stronger brands and bigger advertising budgets could gain market share 1.
- Stricter environmental rules or a temporary shortage of charcoal from local sources could raise costs or limit production 1.
Risks
- Dependence on distributorshigh
Most sales go through third-party distributors, and their performance directly affects the company's revenue 1.
- Customer concentrationhigh
A small number of customers generate a significant part of sales, and losing one could seriously affect results 1.
- Raw material costsmedium
Bamboo raw material has inelastic pricing, and supply disruptions could raise costs or limit growth 1.
- Unsuccessful expansionsmedium
New business lines, including packaging and U.S. construction materials, may not become profitable if they fail to reach the necessary scale 1.
- Uninsured PRC bank depositslow
Bank accounts in China are not insured, so a problem at a bank could lead to losing funds deposited there 1.
Investment thesis
What would need to be true (bull case)
- The Charcoal Doctor brand is described as one of the best-known in its category, which could support a sales recovery if household demand improves 1.
- Exiting electric vehicles and focusing on clearer business lines could make the company easier to evaluate and manage 1.
- If the U.S. construction materials activity grows, it could become a revenue source independent of the Chinese market 1.
What would break the thesis
- Revenue and margins have declined steadily, and the 2025 net loss shows that pressure on results could continue 1.
- Dependence on a few large customers and suppliers could expose the company to major shocks if a key relationship deteriorates 1.
- Several diversification initiatives were halted or scaled back, which could suggest difficulty finding new sources of growth 1.
What to watch
- Sales trends by product category, especially cleaning and purification productsQ1 2027
- Results and growth pace of the U.S. construction materials business2027
- Share of large customers and suppliers in total sales and purchasesnext 10-K
- Completion of the electric vehicle division sale and its effect on the financial position2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 14 May 2026; since then the company filed 6-K (02 Oct 2026), 6-K (24 Sept 2026), 6-K (01 Sept 2026), 6-K (19 Aug 2026), 6-K (06 Aug 2026), 6-K (04 Aug 2026).
The business
Tantech Holdings Ltd is a British Virgin Islands holding company that, through its subsidiaries, researches, produces and distributes various bamboo-based products and invests in mining exploration 1. Historically it specialized in bamboo charcoal products, focusing on consumer goods and low-emission barbecue charcoal, and after several reorganizations it now also engages in vehicles and trading of bamboo charcoal products 1. The shares have been listed on Nasdaq since 2015, and in 2025 the board approved the sale of the electric vehicle business, which is treated as a discontinued operation 1.
The group carried out numerous reorganizations, including the 2017 transfer of its EDLC carbon business and the 2017 acquisition of a controlling stake in Shangchi Automobile, followed by closures and disposals of several subsidiaries between 2018 and 2025 1. From 2022 it launched new lines such as biodegradable packaging and commercial factoring, but according to the report these operations slowed or halted in 2025 1. In 2025 its U.S. subsidiaries began trading in construction materials 1.
The legal and operational structure has changed repeatedly, which makes direct year-on-year comparisons difficult 1. The report presents continuing and discontinued operations separately, and the total net loss for fiscal 2025 was heavily influenced by impairments and allowances for credit losses 1.
Segments
Charcoal Doctor consumer products
The largest segment includes purification and deodorization products as well as household cleaning products, all sold under the Charcoal Doctor brand 1. Purification products, which absorb harmful substances and odors, make up the largest category, while cleaning products are a newer segment seen as a possible growth source 1. Demand has been hit, according to the report, by the persistently sluggish Chinese real estate market 1.
Barbecue charcoal and biodegradable packaging
Barbecue charcoal sold on China's domestic market, purchased from third parties and distributed through the company's channels, has been an important revenue source in recent years 1. Biodegradable packaging generated only nonsignificant revenue in fiscal 2024 and 2023, and its activity was reduced or halted in 2025 1.
Market context
The report describes the bamboo charcoal-based consumer market as fragmented with relatively low barriers to entry, many competitors offering functionally similar products without bamboo components 1. A significant part of demand depends on Chinese household consumption, which has slowed in recent years, a factor that could limit growth in the segment 1.
Reliance on third-party distributors and a few large customers means that local market conditions have a direct effect on revenue 1. Weak demand from the real estate sector, especially for cleaning products, was described as weak in both years analysed, which could keep pressure on sales 1.
Trends
- Slowing household consumptionheadwind
The report links demand for household products to consumer spending in China, which has slowed in recent years 1. If this slowdown continues, Charcoal Doctor sales could remain under pressure 1.
- Sluggish real estate marketheadwind
The drop in demand for cleaning products was directly attributed to a persistently slow property market, which affected revenue in fiscal 2024 and 2025 1. A recovery in this sector could support sales, but the report gives no timing estimate 1.
- Diversification into construction materialsmixed
U.S. subsidiaries trading in sustainable construction materials began operations in 2025, a new direction for the group 1. If this segment develops it could reduce dependence on the Chinese market, but it involves costs and competition from established providers 1.
- Exit from electric vehiclesmixed
In April 2025 the board approved the sale of the electric vehicle division, whose results are reported as a discontinued operation 1. The exit simplifies the portfolio but removes a business line that had previously been a strategic component 1.
Competitive position
In consumer products, Charcoal Doctor competes with charcoal-based producers such as Zhejiang Maitanweng Ecological Development and Zhejiang Jiejiegao Charcoal Industry, and with chemical-based companies such as SC Johnson and Blue Moon 1. The report notes that its two largest competitors are substantially larger and have stronger brand recognition 1.
In barbecue charcoal and briquettes, competition comes from numerous small producers that can offer similar products at lower prices 1. This pressure could reduce margins, since customers are price-sensitive 1.
- Guangzhou Blue Moon Industry Co., Ltd
Maker of the Blue Moon brand, described in the report as substantially larger than Charcoal Doctor with higher customer recognition.
- Shanghai SC Johnson Wax Co., Ltd
Maker of the Mr. Muscle brand, an important competitor in cleaning products that does not rely on charcoal.
- Zhejiang Maitanweng Ecological Development Co., Ltd
Charcoal-based competitor in air purification products, named in the annual report.
- Zhejiang Jiejiegao Charcoal Industry Co., Ltd
Charcoal-based competitor in purification products, cited among the company's direct rivals.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
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News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Current report (foreign issuer)02 Oct 2026
- Current report (foreign issuer)24 Sept 2026
- Current report (foreign issuer)01 Sept 2026
- Current report (foreign issuer)19 Aug 2026
- Current report (foreign issuer)06 Aug 2026
- Current report (foreign issuer)04 Aug 2026
- Annual report (foreign issuer)14 May 2026
- Current report (foreign issuer)02 Apr 2026
- Current report (foreign issuer)31 Mar 2026
- Current report (foreign issuer)25 Mar 2026
Sources
- [1] Form 20-F, fiscal year ended 2025-12-31 · SEC / Tantech Holdings Ltd · 14 May 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.