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Planet Green Holdings Corp. (NYSE American:PLAG), a micro-cap company with a market value of $12.09 million, announced the completion of the sale of its 100% equity interest in Promising Prospect HK Limited, according to a press release statement based on a filing with the Securities and Exchange Commission. InvestingPro data shows the company faces significant financial challenges, with revenue declining 25.51% in the last twelve months.
The transaction was finalized on Monday. The company sold Promising Prospect HK Limited for nominal consideration. Promising Prospect HK Limited holds a 100% equity interest in Shandong Yunchu Supply Chain Co., Ltd. through Jiayi Technologies (Xianning) Co., Ltd. The filing states that Promising Prospect HK Limited does not own any other operating assets of Planet Green Holdings. According to InvestingPro analysis, the company’s financial health score is rated as WEAK, with short-term obligations exceeding liquid assets.
The board of directors had previously resolved on April 30, 2025, to discontinue the operations of Shandong Yunchu Supply Chain Co., Ltd. as part of the company’s ongoing business decisions.
Planet Green Holdings Corp. is incorporated in Nevada and its common stock is listed on the NYSE American under the ticker PLAG. The information in this article is based solely on a press release statement and the company’s recent SEC filing.
In other recent news, Planet Green Holdings Corp. has seen several noteworthy developments. Shareholders approved all proposals at the company’s recent annual meeting, including the election of five directors: Bin Zhou, Lili Hu, Luojie Pu, King Fai Leung, and Yang Cao. Each director received significant support, with at least 4,596,112 votes in favor. Additionally, Planet Green Holdings has initiated an investigation into unusual trading activity in its stock. This inquiry was launched in compliance with the NYSE Company Guide, which mandates listed companies to address unusual market activities. These steps reflect the company’s ongoing efforts to maintain transparency and address shareholder interests.
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