What changed in this filing

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Item 1. Business

2023-03-09 compared with 2023-02-06 · 35 added, 33 removed, 876 unchanged (7% of the section changed)

45 unchanged sentences

a material adverse change in our operations and our common stock may significantly decline in value or become worthless.

Under our corporate structure, our ability to pay

dividends and to service any debt we may incur and pay our operating expenses principally depends on dividends paid by our PRC subsidiaries

Under our corporate structure, our ability to

pay dividends and to service any debt we may incur and pay our operating expenses principally depends on dividends paid by our PRC subsidiaries

Cash is transferred through our organization in the manner as follows:

3 unchanged sentences

or shareholder loans, as the case may be;

(2) the VIEs may pay service fees to our PRC subsidiaries for services rendered by our PRC subsidiaries;

(2) the VIEs may pay service fees to our PRC subsidiaries for services rendered by our PRC

subsidiaries;

(3) our PRC subsidiaries may pay service fees to the VIEs for services rendered by the VIEs;

and (4) our PRC subsidiaries may make dividends

or other distributions to the Planet Green.

We do not have cash management policies dictating how funds are transferred throughout our

organization.

We may encounter difficulties in our ability to transfer cash between PRC subsidiaries and non-PRC subsidiaries largely

due to various PRC laws and regulations imposed on foreign exchange.

If we intend to distribute dividends to the Planet Green, our WFOEs

will transfer the dividends to our Hong Kong subsidiaries in accordance with the laws and regulations of the PRC, and then our Hong Kong

subsidiaries will transfer the dividends to the Planet Green, and the dividends can be distributed from the Planet Green to all shareholders

respectively in proportion to the shares they hold, regardless of whether the shareholders are U.S.

investors or investors in other countries

However, there can be no assurance that the PRC government will not intervene or impose restrictions on the Company’s

ability to transfer cash out of China.

In 2021, our PRC subsidiaries did not receive any cash benefits from the VIEs for services rendered

to the VIEs and their subsidiaries.

As of December 31, 2021, our WFOE owns [ ] to the VIEs.

As of December 31, 2021, we were not subject

to any actual foreign exchange restrictions.

The foregoing cash flows include all distributions and transfers between Planet Green, our

PRC subsidiaries and the VIEs as of the date of this annual report.

As of the date of this annual report, none of our subsidiaries have

ever issued any dividends or made other distributions to the Planet Green nor have Planet Green ever paid dividends or made other distributions

We currently intend to retain all future earnings to finance the VIEs’ and our subsidiaries’ operations

and to expand their business.

and (4) our PRC subsidiaries

may make dividends or other distributions to the Planet Green.

We do not have cash management policies dictating how funds are transferred

throughout our organization.

We may encounter difficulties in our ability to transfer cash between PRC subsidiaries and non-PRC subsidiaries

largely due to various PRC laws and regulations imposed on foreign exchange.

If we intend to distribute dividends to the Planet Green,

our WFOEs will transfer the dividends to our Hong Kong subsidiaries in accordance with the laws and regulations of the PRC, and then

our Hong Kong subsidiaries will transfer the dividends to the Planet Green, and the dividends can be distributed from the Planet Green

to all shareholders respectively in proportion to the shares they hold, regardless of whether the shareholders are U.S.

investors in other countries or regions.

However, there can be no assurance that the PRC government will not intervene or impose restrictions

on the Company’s ability to transfer cash out of China.

In 2021, our PRC subsidiaries did not receive any cash benefits from the

VIEs for services rendered to the VIEs and their subsidiaries.

As of December 31, 2021, the VIEs owns $6,901,203 to our WFOE.

As of December

31, 2021, we were not subject to any actual foreign exchange restrictions.

The foregoing cash flows include all distributions and transfers

between Planet Green, our PRC subsidiaries and the VIEs as of the date of this annual report.

As of the date of this annual report, none

of our subsidiaries have ever issued any dividends or made other distributions to the Planet Green nor have Planet Green ever paid dividends

or made other distributions to U.S.

We currently intend to retain all future earnings to finance the VIEs’ and our subsidiaries’

operations and to expand their business.

As a result, we do not expect to pay any cash dividends in the foreseeable future.

Any limitation on the

ability of our subsidiaries to distribute dividends to us or on the ability of the VIEs to make payments to us may restrict our ability

to satisfy our liquidity requirements.

To the extent cash or assets in the business is in the PRC or Hong Kong or in a PRC or Hong Kong

entity, and may need to be used to fund operations outside of the PRC or Hong Kong, the funds and assets may not be available to fund

operations or for other uses outside of the PRC or Hong Kong due to interventions in or the imposition of restrictions and limitations

Any limitation

on the ability of our subsidiaries to distribute dividends to us or on the ability of the VIEs to make payments to us may restrict our

ability to satisfy our liquidity requirements.

To the extent cash or assets in the business is in the PRC or Hong Kong or in a PRC or

Hong Kong entity, and may need to be used to fund operations outside of the PRC or Hong Kong, the funds and assets may not be available

to fund operations or for other uses outside of the PRC or Hong Kong due to interventions in or the imposition of restrictions and limitations

by the government on our subsidiaries’ or the VIEs’ ability to transfer cash and assets.

822 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K/A

Item 1. Business