Planet Green Holdings Corp. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Completion of Acquisition or Disposition of Assets, Financial Statements and Exhibits
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Item 1.01 Entry Into A Material Definitive Agreement.
On December 11, 2022, Jiayi Technologies (Xianning) Co., Ltd. (the “Jiayi”), a whole owned subsidiary of Planet Green Holdings Corp. (the “Company”), entered into a Termination Agreement (the “Termination Agreement”) with Xiaodong Cai , Yongshen Chen (the “Shareholders”) and Jilin Chuangyuan Chemical Co., Ltd. (the “Jilin Chuangyuan”), pursuant to which, among other things and subject to the terms and conditions contained therein, Jiayi, the Shareholders and Jilin Chuangyuan agreed to terminate all of the rights and obligations under the Amended and Restated Business Cooperation Agreement, the Consultation and Service Agreement, the Equity Option Agreement, the Equity Pledge Agreement, and the Proxy Agreement (collectively, the “VIE Agreements”) entered among and between Jiayi, the Shareholders and Jilin Chuangyuan on November 30, 2021. As a result of the completion of the transaction, the Company no longer consolidates Jilin Chuangyuan’s financial statements into the financial statements of the Company for accounting purpose. The transaction was completed on December 11, 2024.
Item 2.01 Completion of Acquisition or Disposition of Assets.
The information set forth in Item 1.01 above relating to the closing of the VIE Agreements termination transaction is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit No. | Description | |
| 10.1 | Termination Agreement among and between Jiayi (Xianning) Technologies Co., Ltd., Xiaodong Cai, Yongsheng Chen and Jilin Chuangyuan Chemical Co., Ltd. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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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: December 11, 2024 | PLANET GREEN HOLDINGS CORP. | |
| By: | /s/ Bin Zhou | |
| Name: | Bin Zhou | |
| Title: | Chief Executive Officer and Chairman | |
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