Planet Green Holdings Corp. (PLAG): History, Ownership, Mission, How It Works & Makes Money

Planet Green Holdings Corp. is one of the most complex micro-cap stories on the NYSE American, but how exactly does a company with a market capitalization of just $16.6 million as of November 2025 manage a diverse portfolio spanning tea, chemicals, and AI-driven services? If you're looking at the fundamentals, the nine-month 2025 financial report shows a significant challenge, with net revenues of only $2,518,965 against a net loss of $13,718,776, plus management has already flagged 'substantial doubt' about its ability to continue as a defintely going concern. So, before you make a move on a stock with 42.49% insider ownership but a mere $63,754 in cash on the balance sheet, you need to understand the full history and the mechanics behind its multi-faceted business model.

Planet Green Holdings Corp. (PLAG) History

Planet Green Holdings Corp.'s Founding Timeline

You need to understand the true origin of Planet Green Holdings Corp. to grasp its current, diverse-and frankly, complex-structure. The company's history isn't a straight line; it's a series of pivots and acquisitions that started decades ago, long before the current corporate name was established.

Year established

The earliest trace of the company's lineage dates back to 1986, founded by Si Chen. However, the current corporate entity, Planet Green Holdings Corp., was formally established in 2011, marking a significant shift in its business focus and structure.

Original location

The company's initial operations were headquartered in Flushing, NY, which is where founder Si Chen established the business. Today, the company's operations are heavily centered in China, with a corporate base in Hong Kong and a US listing.

Founding team members

The company was founded by Si Chen. Key leadership later included Tony Liu, who joined as CEO and Chairman around 2006, guiding the company through its expansion and diversification into a major industry player.

Initial capital/funding

Specific details on the initial capital or seed funding from the 1986 founding are not publicly available. The company has since raised capital through public markets, maintaining a market capitalization of approximately $16.6 million as of November 14, 2025.

Planet Green Holdings Corp.'s Evolution Milestones

This table shows the non-linear path of Planet Green Holdings Corp. It's a classic example of a company attempting to find its footing through aggressive diversification, moving from agriculture to environmental solutions, then to tea, and now into AI. It's defintely a lot to track.

Planet Green Holdings Corp.'s Transformative Moments

The most defining moments for Planet Green Holdings Corp. have been its dramatic shifts in core business, moving from a focused entity to a true conglomerate. This is a high-risk, high-reward strategy, and right now, the risk is apparent.

The company's trajectory changed fundamentally with a series of acquisitions that created a highly diversified, almost disparate, product portfolio. This is how you end up with a business selling tea, beef, and AI-powered mental health services all under one roof.

• The Conglomerate Strategy: The acquisitions of Xianning Bozhuang (tea) and Fast Approach (software) were transformative, pulling the company out of its initial environmental/WPC focus and into a wide array of consumer products and services.
• The AI Pivot: The June 2025 move into AI-driven mental health intervention in Canada represents the latest, and perhaps most ambitious, strategic turn, aiming for a foothold in a high-multiple industry.
• The Financial Reality Check: The Q3 2025 filing was a major moment of clarity. The company reported a net loss of $13,718,776 for the nine months ending September 30, 2025, a stark number that puts the viability of the entire diversified strategy into question.

For a deeper look at what the company claims to be building, you should review its forward-looking statements here: Mission Statement, Vision, & Core Values of Planet Green Holdings Corp. (PLAG).

Planet Green Holdings Corp. (PLAG) Ownership Structure

Planet Green Holdings Corp. (PLAG) is a publicly traded company, but its ownership structure is heavily concentrated, with insiders controlling a significant portion of the common stock and the public float holding the majority of the remaining shares.

This high insider ownership means the company's direction is defintely steered by its management and board, aligning their interests closely with the long-term performance of the stock, but it also limits the number of shares available for daily trading.

Planet Green Holdings Corp.'s Current Status

Planet Green Holdings Corp. is a public company whose common stock trades on the NYSE American (NYSEAM) exchange under the ticker symbol PLAG. As of November 14, 2025, the company had 9,382,714 shares of common stock outstanding, according to its Q3 2025 SEC filing.

The company is currently facing significant financial headwinds; its Q3 2025 10-Q filing disclosed a stockholders' deficit of $573,528 and a net loss of $12,148,293 for the quarter, leading management to state 'substantial doubt' about its ability to continue as a going concern. That's a serious red flag for any investor.

Planet Green Holdings Corp.'s Ownership Breakdown

The company's ownership profile is dominated by insiders, which is typical for smaller-cap, high-volatility stocks. Institutional investors, like mutual funds and pension funds, hold a minimal stake. This leaves the vast majority of tradable stock in the hands of the general public.

For a deeper dive into who is buying and selling, you should be Exploring Planet Green Holdings Corp. (PLAG) Investor Profile: Who's Buying and Why?

Planet Green Holdings Corp.'s Leadership

The company is governed by a small but experienced leadership team, with the key executive holding multiple roles to steer the organization's strategy and operations.

The core executive team is:

• Bin Zhou: Chairman, President, and Chief Executive Officer (CEO). He has served in these roles since October 2020.
• Lili Hu: Director, Chief Financial and Accounting Officer (CFO). She has been in this role since 2020.

The Board of Directors also includes Independent Directors who provide oversight and strategic guidance. Their average tenure is around 5.7 years, showing a degree of stability in governance. The other board members are:

• King Fai Leung: Independent Director
• Yang Cao: Independent Director
• Luojie Pu: Independent Director

Here's the quick math on executive pay: CEO Bin Zhou's total compensation for the most recently reported fiscal year was $96,000, which is substantially below the average for CEOs of similarly sized US-listed companies.

Planet Green Holdings Corp. (PLAG) Mission and Values

Planet Green Holdings Corp. (PLAG) anchors its corporate identity in a commitment to sustainability and a greener lifestyle, moving beyond its diverse portfolio of tea, chemical, and advertising products. This focus is supported by core values centered on corporate social responsibility and fostering a culture of teamwork and diversified development.

Planet Green Holdings Corp.'s Core Purpose

The company's purpose is to promote a healthier, more environmentally conscious world through its product offerings and operational choices. This is a complex goal, especially for a company with a trailing 12-month revenue of only $5.49 million as of September 30, 2025, but it is the stated long-term aspiration.

Official mission statement

While the company has diversified, its foundational and repeatedly stated mission is focused on environmental impact and product quality.

• Promote a greener and healthier lifestyle by offering consumers eco-friendly alternatives to traditional products.
• Provide high-quality, organic food products with an emphasis on environmentally-friendly practices and a commitment to sustainability.
• Uphold high standards of quality and sustainability, utilizing renewable resources and eco-friendly production processes to minimize environmental impact.

Here's the quick math: with a market capitalization of approximately $19.42 million as of November 22, 2025, the company's 'green' mission is currently backed by a relatively small-cap valuation, suggesting a high-risk, high-reward bet on future growth in these eco-friendly sectors.

Vision statement

The company's vision extends beyond just its product line to its corporate culture and global reach, aiming for expansive growth and cross-cultural competence.

• Achieve sustained success built upon the bedrock of teamwork and diversified development.
• Foster a workplace where common ground is sought while differences are respected, embracing and comprehending multiculturalism as a multinational corporation.
• Expand operations from traditional consumer products into a well-diversified range, including energy-related products and AI-driven services.

The shift into AI-driven services, for example, shows a defintely modern vision that looks past its original organic food roots. You can find more details on this strategic direction at Mission Statement, Vision, & Core Values of Planet Green Holdings Corp. (PLAG).

Given Company slogan/tagline

The most direct phrasing Planet Green Holdings Corp. has used to convey its forward-looking, partnership-driven approach is a clear promise to stakeholders.

• We will work with you to create unlimited possibilities.

This statement functions as a concise tagline, emphasizing collaboration and future potential, which is important given the company's current TTM Earnings Per Share (EPS) of -$2.34 as of November 2025. It's a message focused on the future, not the recent past.

Planet Green Holdings Corp. (PLAG) How It Works

Planet Green Holdings Corp. (PLAG) is a diversified holding company that generates revenue through three distinct and geographically separate business segments: specialty chemical manufacturing, traditional tea production, and online advertising technology.

In short, they operate on a fragmented model, using profits from their core Chinese manufacturing and tea businesses to fund the growth of a North American-focused digital demand-side platform (DSP).

Given Company's Product/Service Portfolio

Given Company's Operational Framework

The company's operational framework is split across its three segments, which function almost as separate entities, creating a complex value chain that is geographically and functionally diverse.

• Chemicals & Energy: This segment drives value by controlling the full cycle of research, development, manufacturing, and direct sales of chemical products like urea formaldehyde adhesive and clean fuels in China.
• Tea Production: Value creation here is traditional, focusing on the quality control of growing, producing, and distributing various teas, including specialty Cyan brick tea, primarily through established wholesale and retail channels in China.
• Online Advertising: This is the technology segment, creating value by developing and operating a proprietary demand-side platform (DSP). This platform gives advertisers a single point to manage complex real-time bidding (RTB) campaigns, aiming to maximize ad spend efficiency.

To be fair, the financial picture shows significant operational strain. For the nine months ended September 30, 2025, the company reported net revenues of just over $2,518,965, but a net loss of over $13,718,776. The quick math here is that the cost structure is defintely not supported by the current revenue base. Also, cash and restricted cash were only $63,754 as of September 30, 2025, which puts real pressure on day-to-day operations. You can read more about their strategic direction here: Mission Statement, Vision, & Core Values of Planet Green Holdings Corp. (PLAG).

Given Company's Strategic Advantages

Planet Green Holdings Corp.'s main advantage is its diversified, though disparate, portfolio, which offers a hedge against single-market risks, but this also creates complexity.

• Geographic and Sector Diversification: Operating in three distinct sectors-chemicals, consumer goods (tea), and technology (ad-tech)-across North America and China means no single economic downturn should cripple the entire enterprise.
• AI-Driven Technology: The Online Advertising segment is positioned in the high-growth ad-tech space, specifically leveraging AI-driven services for ad optimization, which offers a higher margin potential than the legacy businesses.
• Established Chinese Supply Chains: The company has a long history in China's chemical and tea markets, giving them established distribution networks and local manufacturing expertise that is hard for foreign competitors to replicate.

What this estimate hides, though, is the near-term risk. The Q3 2025 filing explicitly stated there is 'substantial doubt' about the company's ability to continue as a going concern due to the large losses and stockholders' deficit of $573,528. So, while the business model is diversified, the immediate action for management is securing capital, not just optimizing operations.

Planet Green Holdings Corp. (PLAG) How It Makes Money

Planet Green Holdings Corp. generates revenue by operating a diversified portfolio of businesses primarily in China, focusing on the sale of high-grade synthetic fuel products, black tea products, and online advertising services.

The company essentially functions as a conglomerate, with its financial engine relying on the thin margins from its chemical and consumer product sales to support its newer, but struggling, digital ventures. It's a complex, high-risk mix.

Planet Green Holdings Corp.'s Revenue Breakdown

Based on the latest available data for the nine months ended September 30, 2025, the company's revenue streams are dominated by its legacy product sales, though the entire top line is under severe pressure. The net revenues for this period were $2,518,965, marking a 33% year-over-year decline.

Here's the quick math on the revenue streams: The company's overall revenue decline is primarily attributed to stagnant sales of high-grade synthetic fuel products, so that segment must be the largest contributor. The remaining revenue comes from the cultivation and sale of black tea products and its online advertising services. Mission Statement, Vision, & Core Values of Planet Green Holdings Corp. (PLAG).

Business Economics

The core economic challenge for Planet Green Holdings Corp. is a severe disconnect between its revenue generation and its operating costs, leading to an unsustainable business model in its current form.

• Gross Margin Crisis: For the nine months ended September 30, 2025, the company reported a gross profit of only $90,000 on net revenues of $2,518,965. This translates to a razor-thin gross margin of approximately 3.57%. This low margin provides almost no buffer to cover operating expenses.
• Cost of Goods Sold (COGS) Pressure: The high cost of revenue, particularly in the synthetic fuel and tea segments, is eating up nearly all the sales revenue, suggesting a lack of pricing power or extreme inefficiencies in production and supply chain management.
• Pricing Strategy: The company appears to be a price-taker, especially in its commodity-like synthetic fuel segment, which is highly sensitive to market fluctuations and competition in the Chinese market.
• G&A Overhang: General and Administrative (G&A) expenses are disproportionately high relative to revenue. For the third quarter of 2025 alone, G&A expenses surged to $3,360,182, largely due to a non-cash charge of $2,798,500 for stock compensation under its 2025 Equity Incentive Plan. This stock-based compensation is a major drain on the bottom line, even if it's not a cash expense.

Honestly, a gross margin that low means the business is defintely not scalable without a radical cost-structure change.

Planet Green Holdings Corp.'s Financial Performance

As of September 30, 2025, the financial performance of Planet Green Holdings Corp. shows a company in severe distress, facing a liquidity crunch and a significant erosion of shareholder equity.

• Massive Net Loss: The net loss for the nine months ended September 30, 2025, widened dramatically to $13,718,776. This loss is nearly five and a half times the total net revenues for the same period.
• Liquidity Warning: The company's cash and restricted cash stood at only $63,754 as of September 30, 2025. This weak liquidity position is compounded by an operating cash outflow of $1,329,176 for the nine-month period.
• Going Concern Doubt: Management has explicitly disclosed a 'substantial doubt' about the company's ability to continue as a going concern, a critical warning sign for any investor.
• Balance Sheet Deterioration: The company has a stockholders' deficit of $573,528 and a working capital deficit of $5,537,300, meaning its liabilities exceed its assets and its current liabilities exceed its current assets. Total loans outstanding reached $5,034,006.

What this estimate hides is the impact of discontinuing operations, which accounted for an $8,726,579 loss in Q3 2025 alone, further magnifying the net loss.

Planet Green Holdings Corp. (PLAG) Market Position & Future Outlook

Planet Green Holdings Corp. is a micro-cap conglomerate with a highly diversified, yet fragmented, business model, positioning it as a marginal player in several large markets like tea, chemical products, and emerging AI technology. The near-term outlook is highly challenging, as the company's own management has expressed substantial doubt about its ability to continue as a going concern as of September 30, 2025. Still, the company is attempting to pivot toward high-growth areas like AI-driven mental health solutions to offset declining legacy revenues.

Competitive Landscape

The company's diverse portfolio means it competes with both niche regional firms and global giants, making its market share negligible across all segments. Its true peer group consists of other micro-cap companies with low liquidity and high volatility.

Opportunities & Challenges

For a company with a nine-month net loss of $13,718,776 in 2025, the opportunities must translate into significant, immediate revenue to overcome its liquidity issues. The risks are existential and demand immediate attention.

Industry Position

Planet Green Holdings Corp. is a classic micro-cap conglomerate, trading on the NYSE American with a market capitalization of approximately $18.3 million as of November 21, 2025. Its position is not one of market leadership but of a highly speculative turnaround play. Honestly, the company operates with a significant stockholders' deficit of $573,528 as of September 30, 2025, so its financial foundation is defintely weak. The core challenge is that its diverse segments-tea, chemical products, and AI-lack the scale to compete effectively against industry leaders like Bunge Global, which operates on a massive global scale. You can see the full picture of Breaking Down Planet Green Holdings Corp. (PLAG) Financial Health: Key Insights for Investors.

• Segment Fragmentation: The split focus across low-margin consumables (tea, beef/mutton) and high-risk, high-reward technology (AI) dilutes management attention and capital.
• Capital Constraint: The working capital deficit of $5,537,300 limits the ability to fund the AI initiatives or scale the tea distribution partnership.
• High-Risk Profile: The stock is considered 'very high risk' due to its volatility, with a 52-week range between $0.467 and $3.60.

The strategic move into AI is a smart attempt to chase a high-growth narrative, but its success hinges entirely on the execution of the pilot programs and securing follow-on funding, which is a big hurdle given the current financial state.