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Item 1. Business

2026-03-31 compared with 2025-04-11 · 431 added, 348 removed, 304 unchanged (72% of the section changed)

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(the “Planet Green”), headquartered in Flushing, NY, is not an operating company in the PRC but a Nevada holding company with

its operations conducted through its subsidiaries in the PRC, Hong Kong and Canada (the “Subsidiaries”).

Planet Green is engaged

in a number of diverse business activities, including consumer products, chemical products and online advertising.

its operations conducted through its subsidiaries in the PRC and Canada (the “Subsidiaries”).

Planet Green is engaged in a

number of diverse business activities, including consumer products, chemical products and online advertising.

Under our corporate structure,

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(1) we may transfer funds to our WFOEs

through our Hong Kong subsidiaries, Promising Prospect HK Limited, and Bless Chemical Co., Ltd.

(HK) by additional capital contributions

or shareholder loans, as the case may be, and (2) 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

through our Hong Kong subsidiaries, PinnacleTech HK Limited, and Bless Chemical Co., Ltd.

(HK) by additional capital contributions or

shareholder loans, as the case may be, and (2) our PRC subsidiaries may make dividends or other distributions to the Planet Green.

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.

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

We face various legal and operational risks and uncertainties related

to being based in and having significant operations in mainland China.

The PRC government has significant authority to exert influence

on the ability of a China-based company, such as us, to conduct its business, accept foreign investments or list on U.S.

or other foreign

For example, we face risks associated with regulatory approvals of offshore offerings, oversight on cybersecurity and data

Such risks could result in a material change in our operations and/or the value of the common stock or could significantly limit

or completely hinder our ability to offer common stock and/or other securities to investors and cause the value of such securities to

significantly decline or be worthless.

These regulatory risks and uncertainties could become applicable to our Hong Kong subsidiaries

if regulatory authorities in Hong Kong adopt similar rules and/or regulatory actions.

We face various legal and

operational risks and uncertainties related to being based in and having significant operations in mainland China.

The PRC government

has significant authority to exert influence on the ability of a China-based company, such as us, to conduct its business, accept foreign

investments or list on U.S.

or other foreign exchanges.

For example, we face risks associated with regulatory approvals of offshore offerings,

oversight on cybersecurity and data privacy.

Such risks could result in a material change in our operations and/or the value of the common

stock or could significantly limit or completely hinder our ability to offer common stock and/or other securities to investors and cause

the value of such securities to significantly decline or be worthless.

These regulatory risks and uncertainties could become applicable

to our Hong Kong subsidiaries if regulatory authorities in Hong Kong adopt similar rules and/or regulatory actions.

Because our operations are

primarily located in the PRC and Hong Kong through our subsidiaries, we are subject to certain legal and operational risks associated

with our operations in China and Hong Kong, including changes in the legal, political and economic policies of the Chinese government,

the relations between China and the United States, or Chinese or United States regulations may materially and adversely affect our business,

financial condition and results of operations.

PRC laws and regulations governing our current business operations are sometimes vague

and uncertain, and therefore, these risks may result in a material change in our operations and the value of our common stock, or could

significantly limit or completely hinder our ability to offer or continue to offer our securities to investors and cause the value of

such securities to significantly decline or be worthless.

Recently, the PRC government initiated a series of regulatory actions and statements

to regulate business operations in China with little advance notice, including cracking down on illegal activities in the securities market,

enhancing supervision over China-based companies listed overseas using a variable interest entity structure, adopting new measures to

extend the scope of cybersecurity reviews, and expanding the efforts in anti-monopoly enforcement.

We do not believe that our subsidiaries

are directly subject to these regulatory actions or statements, as we have not implemented any monopolistic behavior and our business

does not involve the collection of user data or implicate cybersecurity.

As of the date of this annual report, no relevant laws or regulations

in the PRC explicitly require us to seek approval from the China Securities Regulatory Commission (the “CSRC”), Cyberspace

Administration of China (the “CAC”) or any other PRC governmental authorities, nor has our Nevada holding company or any of

our subsidiaries received any inquiry, notice, warning or sanctions regarding our listing on NYSE America from the CSRC or any other PRC governmental

However, since these statements and regulatory actions by the PRC government are newly published and official guidance and

related implementation rules have not been issued, it is highly uncertain how soon legislative or administrative regulation making bodies

will respond and what existing or new laws or regulations or detailed implementations and interpretations will be modified or promulgated,

if any, and the potential impact such modified or new laws and regulations will have on our daily business operation, the ability to accept

foreign investments and list on an U.S.

primarily located in the PRC and Canada through our subsidiaries, we are subject to certain legal and operational risks associated with

our operations in China, including changes in the legal, political and economic policies of the Chinese government, the relations between

China and the United States, or Chinese or United States regulations may materially and adversely affect our business, financial condition

and results of operations.

PRC laws and regulations governing our current business operations are sometimes vague and uncertain, and therefore,

these risks may result in a material change in our operations and the value of our common stock, or could significantly limit or completely

hinder our ability to offer or continue to offer our securities to investors and cause the value of such securities to significantly decline

or be worthless.

Recently, the PRC government initiated a series of regulatory actions and statements to regulate business operations

in China with little advance notice, including cracking down on illegal activities in the securities market, enhancing supervision over

China-based companies listed overseas using a variable interest entity structure, adopting new measures to extend the scope of cybersecurity

reviews, and expanding the efforts in anti-monopoly enforcement.

We do not believe that our subsidiaries are directly subject to these

regulatory actions or statements, as we have not implemented any monopolistic behavior and our business does not involve the collection

of user data or implicate cybersecurity.

As of the date of this annual report, no relevant laws or regulations in the PRC explicitly require

us to seek approval from the China Securities Regulatory Commission (the “CSRC”), Cyberspace Administration of China (the

“CAC”) or any other PRC governmental authorities, nor has our Nevada holding company or any of our subsidiaries received any

inquiry, notice, warning or sanctions regarding our listing on NYSE America from the CSRC or any other PRC governmental authorities.

since these statements and regulatory actions by the PRC government are newly published and official guidance and related implementation

rules have not been issued, it is highly uncertain how soon legislative or administrative regulation making bodies will respond and what

existing or new laws or regulations or detailed implementations and interpretations will be modified or promulgated, if any, and the potential

impact such modified or new laws and regulations will have on our daily business operation, the ability to accept foreign investments

and list on an U.S.

or other foreign exchange.

The Standing Committee of the National People’s Congress, or

the SCNPC, or other PRC regulatory authorities may in the future promulgate laws, regulations or implementing rules that requires our

company or any of our subsidiaries to obtain regulatory approval from Chinese authorities before offering in the U.S.

In other words,

although the Company is currently not required to obtain permission from any of the PRC central or local government to obtain such permission

and has not received any denial to list on the U.S.

The Standing Committee of the National People’s Congress, or the SCNPC, or other

PRC regulatory authorities may in the future promulgate laws, regulations or implementing rules that requires our company or any of our

subsidiaries to obtain regulatory approval from Chinese authorities before offering in the U.S.

In other words, although the Company is

currently not required to obtain permission from any of the PRC central or local government to obtain such permission and has not received

any denial to list on the U.S.

exchange, our operations could be adversely affected, directly or indirectly;

ability to offer, or continue to offer, securities to investors would be potentially hindered and the value of our securities might significantly

decline or be worthless, by existing or future laws and regulations relating to its business or industry or by intervene or interruption

by PRC governmental authorities, if we or our subsidiaries (i) do not receive or maintain such permissions or approvals, (ii) inadvertently

conclude that such permissions or approvals are not required, (iii) applicable laws, regulations, or interpretations change and we are

required to obtain such permissions or approvals in the future, or (iv) any intervention or interruption by PRC governmental with little

advance notice.

our ability to offer, or

continue to offer, securities to investors would be potentially hindered and the value of our securities might significantly decline or

be worthless, by existing or future laws and regulations relating to its business or industry or by intervene or interruption by PRC governmental

authorities, if we or our subsidiaries (i) do not receive or maintain such permissions or approvals, (ii) inadvertently conclude that

such permissions or approvals are not required, (iii) applicable laws, regulations, or interpretations change and we are required to obtain

such permissions or approvals in the future, or (iv) any intervention or interruption by PRC governmental with little advance notice.

As of the date of this annual

report, the two Hong Kong subsidiaries of Planet Green do not have any material operation in Hong Kong and they have not collected, stored,

report, the two Hong Kong subsidiaries of Planet Green do not have any material operation in Hong Kong nor have they ever collected, stored,

or managed any personal information in Hong Kong.

Therefore, we have concluded that currently it does not expect that laws and regulations

in Mainland China on data security, data protection, cybersecurity or anti-monopoly to be applied to its Hong Kong subsidiaries or that

Therefore, we have concluded that currently it is not expected that laws and regulations

in Mainland China on data security, data protection, cybersecurity or anti-monopoly to be applied to the Hong Kong subsidiaries or that

the oversight of the Cyberspace Administration of China will be extended to its operations outside of Mainland China.

In order to operate our business,

in addition to the required regular business licenses, Jingshan Sanhe is required to obtain Permit for Hazardous Chemical Products and

Shandong Yunchu is required to obtain Permit for Food Products.

As of the date of this annual report, our subsidiaries, WFOEs have received

from PRC authorities all requisite licenses, permissions, and approvals needed to engage in the businesses currently conducted in the

PRC, and no permission or approval has been denied.

However, we cannot assure you that any of these entities will be able to receive

clearance of such compliance requirements in a timely manner, or at all in the future.

Any failure of these entities to fully comply with

such compliance requirements may cause our PRC subsidiaries or the PRC operating entities to be unable to begin their new businesses or

operations in the PRC, subject them to fines, relevant new businesses or operations suspension for rectification, or other sanctions.

in addition to the required regular business licenses, Jingshan Sanhe is required to obtain Permit for Hazardous Chemical Products.

of the date of this annual report, our subsidiaries have received from PRC authorities all requisite licenses, permissions, and approvals

needed to engage in the businesses currently conducted in the PRC, and no permission or approval has been denied.

However, we cannot

assure you that any of these entities will be able to receive clearance of such compliance requirements in a timely manner, or at all

in the future.

Any failure of these entities to fully comply with such compliance requirements may cause our PRC subsidiaries or the PRC

operating entities to be unable to begin their new businesses or operations in the PRC, subject them to fines, relevant new businesses

or operations suspension for rectification, or other sanctions.

As advised by our PRC counsel,

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and adversely affect our financial condition and results of operations and cause our securities to significantly decline in value or become

In light of the recent statements and regulatory actions by the PRC

government, such as those related to data security, and anti-monopoly concerns, Planet Green may be subject to the risks of uncertainty

of any future actions of the PRC government in this regard.

Planet Green may also be subject to penalties and sanctions imposed by the

PRC regulatory agencies, including the CSRC, if it fails to comply with such rules and regulations, which could adversely affect the ability

of Planet Green to continue to be listed for trading on NYSE American or another foreign exchange, which may cause the value of Planet

Green’s securities to significantly decline or become worthless.

The Holding Foreign Companies Accountable Act (the “HFCA

Act”) and related regulations call for additional and more stringent criteria to be applied to emerging market companies upon assessing

the qualification of their auditors and could add uncertainties to Planet Green’s offering that trading in Planet Green’s

securities may be prohibited under the HFCA Act.

Planet Green’s auditor, YCM CPA INC., is headquartered in California and has been

inspected by the Public Company Accounting Oversight Board (United States) (the “PCAOB”) on a regular basis.

Our auditor is

not included in the list of PCAOB Identified Firms of having been unable to be inspected or investigated completely by the PCAOB in the

PCAOB Determination Report issued in December 2021.

In light of the recent statements

and regulatory actions by the PRC government, such as those related to data security, and anti-monopoly concerns, Planet Green may be

subject to the risks of uncertainty of any future actions of the PRC government in this regard.

Planet Green may also be subject to penalties

and sanctions imposed by the PRC regulatory agencies, including the CSRC, if it fails to comply with such rules and regulations, which

could adversely affect the ability of Planet Green to continue to be listed for trading on NYSE American or another foreign exchange,

which may cause the value of Planet Green’s securities to significantly decline or become worthless.

The Holding Foreign Companies

Accountable Act (the “HFCA Act”) and related regulations call for additional and more stringent criteria to be applied to

emerging market companies upon assessing the qualification of their auditors and could add uncertainties to Planet Green’s offering

that trading in Planet Green’s securities may be prohibited under the HFCA Act.

Planet Green’s auditor, YCM CPA INC., is headquartered

in California and has been inspected by the Public Company Accounting Oversight Board (United States) (the “PCAOB”) on a regular

Our auditor is not included in the list of PCAOB Identified Firms of having been unable to be inspected or investigated completely

by the PCAOB in the PCAOB Determination Report issued in December 2021.

On June 22, 2021, the U.S.

Senate passed the Accelerating Holding Foreign Companies

Accountable Act, which, if enacted, would reduce the number of consecutive non-inspection years required for triggering the prohibitions

under the HFCA Act from three years to two.

On December 29, 2022, the President signed the Consolidated Appropriations Act, 2023, which,

among other things, amended the HFCAA to reduce the number of consecutive years an issuer can be identified as a Commission-Identified

Senate passed the Accelerating Holding

Foreign Companies Accountable Act, which, if enacted, would reduce the number of consecutive non-inspection years required for triggering

the prohibitions under the HFCA Act from three years to two.

On December 29, 2022, the President signed the Consolidated Appropriations

Act, 2023, which, among other things, amended the HFCAA to reduce the number of consecutive years an issuer can be identified as a Commission-Identified

Issuer before the Commission must impose an initial trading prohibition on the issuer’s securities from three years to two years.

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might pose regulatory risks to and impose restrictions on us because of our operations in mainland China.

Planet Green is engaged

in a number of diverse businesses, including consumer products, chemical products, advertising.

Consumer Products Business

The Company’s consumer products business

is conducted through two subsidiaries:

Shandong Yunchu and Xianning Bozhuang.

Shandong Yunchu imports and

distributes animal proteins, mainly beef products in Chinese market.

It markets and transports the best beef products from the world’s

major agricultural regions.

Shandong Yunchu has the mature global purchasing network and has gained the trust and authority of many international

brands with more than 8 years of development and accumulation.

Beef products are marketed domestically to food retailers, foodservice

distributors, restaurant operators, hotel chains and other food processors.

Over the past few years, Yunchu develops into a professional

integrated company, which can manage import, storage, whole sale, retail and distribution.

Xianning Bozhuang produces

and distributes a variety of Chinese tea leaves broadly categories including Cyan brick tea, black tea and green tea in China.

Shandong Yunchu mainly purchased frozen beef from six countries including

Uruguay, Brazil, Chile, Argentina, Australia and New Zealand and 25 factories are involved.

The top ten suppliers include Marrig, Minerva

S.A., G & K O’Connor Pty Ltd, Frigorifico matadero Pando ontilcor S.A., Las Moras, Frigorifico de Osorno S.A., Ersinal S.A.

ecoparks S.A., lorsinal S.A., and Minerva S.A.

The Company has established a stable long term cooperative relationship with these beef

and mutton manufacturers.

The stable supply provides competitive advantage for Company to procure various beef products with high quality

and low price to meet the needs of domestic customers.

Our food products compete

with those of other food producers and processors and certain prepared food manufacturers.

We seek to achieve a leading market position

for our products via our principal marketing and competitive strategy, which includes:

● identifying

target markets for value-added products;

● concentrating

production, sales and marketing efforts to appeal to and enhance demand from those markets;

our national distribution systems and customer support services.

Past efforts indicate customer

demand can be increased and sustained through application of our marketing strategy, as supported by our distribution systems.

The principal

competitive elements are price, product safety and quality, brand identification, innovation, breadth and depth of product offerings,

availability of products, customer service and credit terms.

Black tea is produced in Guangxi,

Sichuan, Yunnan, Hunan, Hubei, Shanxi and Anhui provinces in China.

Our black tea products are processed in our factory in Hubei province

and distributed nationwide.

There are few large players on the market but we face fierce competition from numerous small black tea manufactures

and distributors.

However, as our brand has over hundreds of year’s history, we have accumulated loyal consumers and gained favorable

market reputation over years.

We operate a tea products

business focused on the production, processing, and sale of dark tea, primarily in the form of compressed brick tea, commonly referred

to as Qingzhuan tea, a category of post-fermented tea within the broader dark tea segment.

Our business integrates raw material sourcing,

fermentation, product refinement, and distribution, allowing us to maintain quality control across key stages of production while responding

to evolving market demand.

Our operations begin with

the procurement of high-quality fresh green tea leaves from selected suppliers.

These raw materials undergo a series of processing steps,

including withering, rolling, controlled microbial fermentation, and drying.

The fermentation stage is critical, as it involves carefully

managed microbial activity that develops the tea’s distinctive flavor profile, aroma, and color, as well as its characteristic aging

Through this process, the tea acquires the attributes commonly associated with traditional dark tea products.

Following fermentation, the

tea is refined and compressed into standardized shapes, primarily brick form, to facilitate storage, transportation, and long-term aging.

Compressed products such as Qingzhuan tea are valued for their durability, extended shelf life, and ability to improve in taste and complexity

over time under appropriate storage conditions.

Leveraging our expertise in processing and fermentation, we focus on preserving these

traditional qualities while enhancing product consistency and usability.

Our flagship product is brick

To better align with modern consumption preferences, we apply proprietary physical processing techniques to reshape and refine

traditional compressed tea bricks.

Through controlled cutting, portioning, and re-compression, we produce tea products that are easier

to handle and brew, reducing the need for specialized tools while maintaining the integrity, flavor, and aging characteristics of the

original tea material.

These innovations are designed to enhance convenience without compromising authenticity.

Building on this foundation,

we have expanded our product portfolio to include mini brick dark tea and loose-leaf dark tea in various forms.

Mini brick products provide

pre-portioned servings suitable for individual consumption and on-the-go use, while loose-leaf offerings cater to consumers who prefer

more traditional or flexible brewing methods.

We also offer products in a range of shapes, sizes, and packaging formats to address diverse

consumption scenarios, including retail, gifting, and bulk purchases.

We sell our tea products

through a combination of direct sales and third-party distribution channels.

In addition, we have recently expanded our sales and marketing

efforts by engaging sales agents to promote our products and enhance market penetration.

These agents support customer acquisition, order

generation, and geographic expansion, particularly in regions where we do not maintain a direct sales presence.

We believe this sales

agent model enables us to scale our distribution network efficiently while maintaining flexibility in managing selling expenses.

Our products are marketed

to distributors and consumers who value traditional Chinese dark tea for its cultural significance, distinctive characteristics, and perceived

health benefits.

Through continuous product innovation, refinement of processing techniques, and expansion of our sales network, we aim

to bridge traditional tea culture with modern lifestyle needs and position ourselves to serve both domestic and international markets.

The tea products industry

in China is highly competitive and fragmented, particularly within the dark tea segment, which includes Qingzhuan tea, Pu-erh tea, Liubao

tea, and other post-fermented tea products.

The broader Chinese tea market is characterized by a large number of regional producers, traditional

tea factories, agricultural cooperatives, local processing workshops, branded consumer tea companies, distributors, and e-commerce-oriented

sellers, with no single participant holding a dominant nationwide market share.

Within the dark tea category,

the Company competes with well-established producers and brands located in major tea-producing regions, including Hubei, Hunan, Guangxi,

and Yunnan, many of which have long operating histories, recognized geographic origins, and strong brand awareness among tea consumers.

Certain larger competitors benefit from greater scale in raw material procurement, vertically integrated production facilities, broader

distribution networks, and stronger financial and marketing resources.

At the same time, the Company

also faces substantial competition from numerous smaller local tea processors, specialty tea merchants, and family-operated workshops

that compete on regional reputation, traditional craftsmanship, flexible pricing, and niche customer relationships.

Because tea production

in China remains highly fragmented at both the raw material sourcing and finished product distribution levels, barriers to entry for smaller

market participants can be relatively low in certain local markets.

The Company primarily competes

on the basis of product quality, fermentation and compression expertise, consistency of flavor and aging characteristics, convenience-oriented

product design, brand reputation, pricing, packaging, and distribution reach.

In particular, the Company believes its ability to modernize

traditional brick dark tea through proprietary reshaping, portioning, and re-compression techniques differentiates its products by improving

ease of use while preserving the authenticity and cultural attributes valued by consumers.

Competition is also influenced

by access to high-quality fresh tea leaves, quality control throughout fermentation and storage, innovation in product form and packaging,

effectiveness of sales channels, and the ability to respond to evolving consumer preferences, including demand for smaller portions, gifting

formats, and products suited for modern lifestyles.

The Company’s use of direct sales, third-party distributors, and commissioned

sales agents further intensifies competition by placing it alongside both established branded tea enterprises and smaller regionally focused

Chemical Business

Jingshan Sanhe has four

production lines on an 11,000-square-meter facility and owns capacities to complete manufacturing, labeling, and packaging.

Sanhe researches, manufactures and distributes ethanol fuel products in China.

There are many other companies

operating in the renewable energy.

Evolving consumer preferences, regulatory conditions, ongoing industry trends, and project economics

have a strong effect on the competitive landscape.

The clean energy markets are heavily fragmented.

We believe we are in a strong position

to compete for new project development and supply opportunities.

Competition for such opportunities, however, including the prices being

offered for fuel supply, affect the profitability of the opportunities we pursue, and may make opportunities unsuitable to pursue.

Sanhe is one of the top ten private enterprises in the region of Jingshan.

Jingshan Sanhe has 12 patents, 17 sets of professional laboratory

equipment and 2 advanced and complete production lines.

Jingshan Sanhe has two production

lines situated within an 11,000 square-meter facility and owns capacities to complete manufacturing, labeling, and packaging.

Sanhe researches, manufactures and distributes methanol fuel additives, alcohol based fuel, and diesel fuel in China.

Methanol fuel additives

are designed to enhance the combustion performance, stability, and safety of methanol-based fuels.

These additives improve fuel efficiency,

optimize energy output, and reduce engine wear, thereby increasing overall operational reliability.

Alcohol based fuel is primarily used

in catering stoves, industrial boilers, heating equipment, and other applications as a clean, cost-effective alternative energy source.

It offers environmental benefits compared to traditional fossil fuels and is widely adopted in commercial and light industrial settings.

Diesel fuel is extensively used in diesel-powered vehicles, construction machinery, generator sets, and various industrial operations.

It serves as a reliable source of power generation and heating in transportation, infrastructure development, and manufacturing sectors.

The renewable energy industry

is highly competitive, with numerous companies operating across the sector.

The competitive landscape is significantly influenced by evolving

consumer preferences, regulatory developments, prevailing industry trends, and project-level economic considerations.

In addition, the

clean energy markets in which we operate remain highly fragmented.

We believe our industry experience, operational capabilities, and established

relationships position us competitively in pursuing new project development and supply opportunities.

However, competition for these opportunities,

including pricing pressure on fuel supply and other key inputs, may adversely affect the profitability of projects we evaluate and could

render certain opportunities economically unattractive.

The market for vehicle fuels

is highly competitive.

The biggest competition for alcohol-based high clean fuel used as a vehicle fuel is gasoline and diesel because

most vehicles in our key markets are powered by these fuels.

Many established businesses are in the market for alcohol-based high clean

fuels and other alternatives for use as vehicle fuel, including alternative vehicle and alternative fuel companies, refuse collectors,

industrial gas companies, truck stop and fuel station owners, fuel providers, utilities and their affiliates and other organizations.

If the alternative vehicle

fuel market grows then the number and type of participants in this market and their level of capital and commitments to alternative vehicle

fuel programs will increase.

We compete for vehicle fuel users based on demand for the type of fuel, which may be affected by a variety

of factors, including, among others, cost, supply, availability, quality, cleanliness, and safety of the fuel;

cost, availability and

reputation of vehicles and engines;

convenience and accessibility of fueling stations;

regulatory mandates and other requirements;

recognition of the brand.

We believe we compare favorably with our competitors based on these factors;

however, some of our competitors

have substantially greater financial, marketing, and other resources than we have.

As a result, these competitors may be able to respond

more quickly to changes in customer preferences, legal requirements or other industry or regulatory trends;

devote greater resources to

the development, promotion and sale of their products;

adopt more aggressive pricing policies, dedicate more effort to infrastructure

and systems development in support of their business or product development activities;

implement more robust or creative initiatives

to advance consumer acceptance of their products;

or exert more influence on the regulatory landscape that impacts the vehicle fuels market.

The principal competition for alcohol-based high-clean fuels used in transportation is conventional gasoline and

diesel, as the majority of vehicles in our key markets continue to rely on these fuels.

In addition, numerous established participants

compete in the market for alcohol-based high-clean fuels and other alternative vehicle fuels, including alternative vehicle and fuel companies,

waste management and refuse collection companies, industrial gas providers, truck stop and fuel station operators, fuel distributors,

utilities and their affiliates, and other industry participants.

As the market for alternative

vehicle fuels continues to expand, we expect the number and diversity of market participants, as well as the level of capital investment

and strategic commitment to alternative fuel programs, to increase.

We compete for vehicle fuel customers based on several factors that

influence demand, including fuel cost, supply, availability, quality, cleanliness, and safety;

the cost, availability, and reputation

of compatible vehicles and engines;

the convenience and accessibility of fueling infrastructure;

applicable regulatory mandates and other

governmental requirements;

and overall brand recognition.

We believe our products compare

favorably with those of our competitors across these factors.

However, certain of our competitors possess substantially greater financial,

marketing, operational, and other resources than we do.

As a result, these competitors may be better positioned to respond more rapidly

to shifts in customer preferences, changes in legal requirements, or broader industry and regulatory developments.

They may also be able

to devote greater resources to product development, marketing, sales, infrastructure expansion, and systems enhancement, pursue more

aggressive pricing strategies, undertake broader initiatives to increase consumer acceptance of their products, and exert greater influence

over the regulatory environment affecting the vehicle fuels market.

Advertising Business

Fast Approach is a North America demand side platform

that directly connects to Chinese market without middleman and is supported by world class data science researchers among some well-respected

universities in North America.

A demand-side platform is a system that allows buyers of digital advertising inventory to manage multiple

ad exchange and data exchange through one interface.

Fast Approach builds full audience scale model, extracts audience features, optimizes

advertising campaign strategies.

The Trade Desk is the

largest, independent programmatic advertising DSP for digital media buyers in the world.

The Trade Desk launched its programmatic ad

buying platform in China since 2019 facilitating access to Chinese media companies, such as Alibaba, Tencent and Baidu Exchange

The Trade Desk is the major competitor in north American.

Raw Materials

Our business depends on obtaining a reliable supply

of various products, including tea, refined methanol, methanol, formaldehyde, polymer emulsion and beef products.

Because of the diversity

of available sources of these raw materials, we believe that our raw materials are currently in adequate supply.

We obtain our raw materials primarily from domestic

procurement for our tea production and methanol products.

Shandong Yunchu carries out our beef products business.

It mainly purchased

frozen beef from six countries including Uruguay, Brazil, Chile, Argentina, Australia and New Zealand, and 25 factories are involved.

The top ten suppliers include:

Marrig, Minerva S.A., G & K O’Connor Pty Ltd, Frigorifico matadero Pando ontilcor S.A., Las Moras,

Frigorifico de Osorno S.A., Ersinal S.A.

ecoparks S.A., lorsinal S.A., and Minerva S.A.

The Company has established a stable long term

cooperative relationship with these beef and mutton manufacturers.

The stable supply provides competitive advantage for Company to procure

various various beef products with high quality and low price to meet the needs of domestic customers.

We select suppliers based

on price and product quality.

We typically rely on numerous domestic suppliers, including some with whom we have a long-term relationship.

Our suppliers generally include wholesale agricultural product companies, food production companies, tea bag processing companies and

chemical products wholesale company.

Our Customers

Our products are sold both in Chinese domestic market.

Shandong Yunchu

distributes beef products in China including several major beef products providers and distributors in China, such as Henan Hengdu Food

Co., Ltd., Shanxi Pingyao Beef Group, Shandong Delis Food Co., Ltd.

and Heilongjiang Binxi Group.

When it comes to manufacturing and sales

of synthetic fuel products, we do business through direct sales, constructing refuel facilities and conducting technical cooperation with

other companies.

Our Sales and Marketing Efforts

We have not spent a significant

amount of capital on advertising in the past, and our advertising budget continues to be limited.

In 2024, our marketing and branding

efforts mainly focus on internet advertising and long-term customers.

Fast Approach provides digital

advertising delivery and operational services, with China and North America serving as its two core markets.

The Company focuses on executing

and managing advertising campaigns across multiple digital channels, leveraging data-driven optimization and localized operational expertise

to improve campaign performance and return on investment.

In China, Fast Approach assists

advertisers in accessing and operating within a diverse and platform-centric digital advertising ecosystem.

In North America, the Company

supports campaign execution across major digital platforms and programmatic advertising networks.

Its presence in both regions enables

it to facilitate cross-border advertising execution for clients seeking to expand into new markets.

The Company’s core services

include advertising placement, campaign execution, account management, performance monitoring, and ongoing optimization.

Fast Approach

focuses on implementing advertiser-provided strategies by managing media buying processes, setting up campaigns, and continuously adjusting

key parameters such as audience targeting, bidding, and ad creatives based on real-time performance data.

Through detailed analytics and

performance tracking, the Company works to improve key metrics such as click-through rates, conversion rates, and customer acquisition

Fast Approach collaborates

with advertising platforms, media publishers, and technology partners to access advertising inventory and delivery tools.

These relationships

allow the Company to execute campaigns efficiently across a variety of formats, including display advertising, search-based advertising,

and social media promotion.

The digital advertising services

industry is highly competitive and rapidly evolving.

Fast Approach competes with a broad range of market participants, including large

global advertising agencies, major demand-side and programmatic advertising platforms, specialized cross-border marketing firms, local

media buying agencies, and smaller boutique digital advertising service providers in both China and North America.

In both core markets, the

Company faces competition from well-established industry participants with significantly greater financial, technical, marketing, and

personnel resources, broader client relationships, and more extensive proprietary technology capabilities.

These larger competitors may

benefit from stronger brand recognition, deeper platform integrations, and the ability to offer a wider range of end-to-end marketing

solutions, including strategy, creative development, data analytics, and customer relationship management services.

At the same time, the Company

also competes with numerous smaller regional and niche service providers that often focus on specific industries, localized customer segments,

or individual advertising platforms.

These smaller competitors may compete aggressively on pricing, service flexibility, or specialized

local market knowledge.

Fast Approach primarily competes

on the basis of its cross-border campaign execution capabilities, operational expertise in both China and North America, responsiveness

to client needs, ability to optimize campaign performance through real-time data analysis, and experience navigating platform-specific

advertising requirements in different jurisdictions.

The Company believes its localized execution capabilities and familiarity with multi-market

advertising ecosystems position it to serve clients seeking efficient campaign delivery across borders.

Competition in the industry

is based on factors including campaign performance, pricing, quality of service, speed of execution, platform access, data analytics capabilities,

client relationships, and the ability to adapt to frequent changes in platform algorithms, privacy requirements, and advertising policies.

The Company primarily serves

advertisers seeking to enhance brand exposure, user acquisition, and sales conversion in both domestic and international markets.

on execution and operational optimization rather than strategic planning, Fast Approach positions itself as a performance-driven service

provider capable of delivering scalable and efficient advertising solutions.

Fast Approach Inc.

has continued

to invest in technology development and is strategically expanding toward AI-driven GEO optimization and intelligent marketing automation,

positioning the Company to compete in the next generation of digital marketing solutions.

The Company’s development

initiatives are supported by a combination of internal technical resources and external collaborators, including advisors and contributors

with expertise in artificial intelligence, natural language processing (NLP), and mental health applications.

This integrated technical

and domain expertise enhances the Company’s research and development capabilities in applied AI systems.

As part of these efforts,

the Company is developing a prototype dialogue agent intended for early-stage mental health support.

This initiative reflects the Company’s

broader strategy to leverage advanced AI technologies to create scalable, data-driven solutions across digital marketing and emerging

AI-enabled application areas.

Organizational Structure

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The Common Stock was assigned a new CUSIP number 72703U 201 following the reverse stock split.

Each shareholder’s percentage ownership interest in the Company

and proportional voting power remains virtually unchanged as a result of the Reverse Stock Split, except for minor changes and adjustments

that will result from rounding fractional shares into whole shares.

The rights and privileges of the holders of shares of Common Stock

were substantially unaffected by the Reverse Stock Split.

No fractional shares will be issued in connection with the Reverse Stock Split.

Each shareholder’s percentage

ownership interest in the Company and proportional voting power remains virtually unchanged as a result of the Reverse Stock Split, except

for minor changes and adjustments that will result from rounding fractional shares into whole shares.

The rights and privileges of the

holders of shares of Common Stock were substantially unaffected by the Reverse Stock Split.

No fractional shares will be issued in connection

with the Reverse Stock Split.

Fractional shares resulting from the Reverse Stock Split will be rounded up to the nearest whole share.

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VIE agreements with Jiayi Technologies on the same day.

On August 2, 2021, as part of the internal restructure efforts to remove VIE arrangement,

On August 2, 2021, as part of the internal restructure efforts to remove VIE arrangements,

the Company and its subsidiary terminated series of VIE agreements and acquired 100% equity ownership of Xianning Bozhuang.

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On September 10, 2021, as part of the internal

restructure efforts to remove VIE arrangement, Hubei Bulaisi acquired 85% equity ownership of Jingshan Sanhe and Jiayi Technologies terminated

restructure efforts to remove VIE arrangements, Hubei Bulaisi acquired 85% equity ownership of Jingshan Sanhe and Jiayi Technologies terminated

the VIE agreements with Jingshan Sanhe on the same date.

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Upon closing of the transaction, Jiayi Technologies acquired 100% equity ownership of Shandong Yunchu.

On April 8, 2022, the Company

entered into a Share Purchase Agreement with Allinyson Ltd.

and each of shareholders of Allinyson.

Upon closing of the transaction, the

Company acquired 100% equity ownership of Allinyson.

On April 1, 2024, the Company transferred 100% of Allinyson’s shares and other

equity interest to an individual for aggregated purchase price of $1.00, and Allinyson was completely disposed.

The Board resolved

to discontinue the operation of Shandong Yunchu on April 30, 2025, and subsequently, on September 1, 2025, the Company disposed of its

100% equity interest in Promising Prospect for nominal consideration.

Promising Prospect indirectly held 100% of the equity interest in Shandong Yunchu through Jiayi Technologies and did not own any other

operating assets of the Company.

As a result of the disposition, Shandong Yunchu, Promising Prospect and Jiayi Technologies ceased to

be subsidiaries of the Company.

On November 26, 2025, Bozhuang

entered into a Share Purchase Agreements with shareholders of Hubei Shengsili, to acquire 67% equity interests in Hubei Shengsili for

a consideration of $143, resulting in goodwill of $7,005.

On December 16, 2025, Promising

Prospect established PinnacleTech, a HK limited liability company, as a wholly owned subsidiary.

On December 24, 2026, PinnacleTech established

Dingfeng Technology, a PRC limited liability company, as a wholly owned subsidiary.

On March 10, 2026, the Company

incorporated Hubei Taihe Biotechnology Co., Ltd., a PRC limited liability company.

Cash Flows through Our Organization:

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(1) we may transfer funds to our WFOEs

through our Hong Kong subsidiaries, Promising Prospect HK Limited, and Bless Chemical Co., Ltd.

(HK) by additional capital contributions

or shareholder loans, as the case may be;

through our Hong Kong subsidiaries, PinnacleTech HK Limited, and Bless Chemical Co., Ltd.

(HK) by additional capital contributions or

shareholder loans, as the case may be;

and (2) our PRC subsidiaries may make dividends or other distributions to Planet Green.

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.

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

If we intend to distribute dividends through Planet Green, our WFOEs will transfer the dividends to our Hong Kong subsidiaries

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investors or investors in other countries or regions.

There can be no assurance the PRC

government will not intervene or impose restrictions on the Company’s ability to transfer cash out of China.

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.

Effects of PRC foreign exchange regulations

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Current foreign exchange and

other regulations in the PRC may restrict our PRC subsidiaries in their ability to transfer their net assets to Planet Green and its subsidiaries

and to investors.

The PRC government imposes controls on the convertibility of the Renminbi into foreign currencies and, in certain cases,

the remittance of currency out of China.

Under our current corporate structure, Planet Green as the holding company may rely on dividend

payments from its subsidiaries to fund any cash and financing requirements Planet Green may have.

Under existing PRC foreign exchange

regulations, payments of current account items, including profit distributions, interest payments and trade and service-related foreign

exchange transactions, can be made in foreign currencies without prior approval of the State Administration of Foreign Exchange (the “SAFE”)

by complying with certain procedural requirements.

Specifically, under the existing exchange restrictions, without prior approval of SAFE,

cash generated from the operations of our PRC subsidiaries in China may be used to pay dividends to Planet Green.

However, approval from

or registration with appropriate government authorities is required where Renminbi is to be converted into foreign currency and remitted

out of China to pay capital expenses such as the repayment of loans denominated in foreign currencies.

As a result, we need to obtain

SAFE approval to use cash generated from the operations of our PRC subsidiaries and VIE to pay off their respective debt in a currency

other than Renminbi owed to entities outside China, or to make other capital expenditure payments outside China in a currency other than

other regulations in the PRC may restrict our PRC subsidiaries and their ability to transfer their net assets to Planet Green and its

subsidiaries and to investors.

The PRC government imposes controls on the convertibility of the Renminbi into foreign currencies and,

in certain cases, the remittance of currency out of China.

Under our current corporate structure, Planet Green as the holding company

may rely on dividend payments from its subsidiaries to fund any cash and financing requirements Planet Green may have.

Under existing

PRC foreign exchange regulations, payments of current account items, including profit distributions, interest payments and trade and service-related

foreign exchange transactions, can be made in foreign currencies without prior approval of the State Administration of Foreign Exchange

(the “SAFE”) by complying with certain procedural requirements.

Specifically, under the existing exchange restrictions, without

prior approval of SAFE, cash generated from the operations of our PRC subsidiaries in China may be used to pay dividends to Planet Green.

However, approval from or registration with appropriate government authorities is required where Renminbi is to be converted into foreign

currency and remitted out of China to pay capital expenses such as the repayment of loans denominated in foreign currencies.

we need to obtain SAFE approval to use cash generated from the operations of our PRC subsidiaries and VIE to pay off their respective

debt in a currency other than Renminbi owed to entities outside China, or to make other capital expenditure payments outside China in

a currency other than Renminbi.

In light of the flood of capital

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Currently all our directors

and majority of senior executive officers either are physically reside in China for a significant portion of each year, and/or are PRC

and majority of senior executive officers either physically reside in China for a significant portion of each year, and/or are PRC nationals.

As a result, it may be difficult for you to effect service of process upon us or those persons inside mainland China.

there is uncertainty as to whether the PRC courts would recognize or enforce judgments of U.S.

In addition, there

is uncertainty as to whether the PRC courts would recognize or enforce judgments of U.S.

courts against us or such persons predicated

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Our Manufacturing Facilities

We currently manufacture our products and provide

services in Jingshan City and Xianning City of Hubei Province, Qingdao City of Shandong Province, and Toronto in Canada.

We currently manufacture our

products and provide services in Jingshan City and the Xianning City of Hubei Province and Toronto in Canada.

The following table indicates the year that operations

commenced at each of the facilities and the size of the facilities.

Facility Size

Xianning Bozhuang*

Jingshan Sanhe**

a VIE in May 2019 and a subsidiary in August 2021.

a subsidiary in September 2021.

Became a VIE in May 2019 and a subsidiary in August 2021.

Became a subsidiary in September 2021.

Production Lines

We currently manufacture our products using production lines.

The production process for our cyan brick tea products

involves, primary processing of fresh leaves, piling and fermenting, storing and aging, picking, pressing, and baking.

The production

process for our black tea products involves selecting and sorting the fresh leaves, withering, rolling, fermenting, baking and drying,

grading according to color, prompting fragrance, packing and warehousing.

The production process for our green tea products involves selecting

and sorting the fresh leaves, airing, fixating, cooling, rolling, stir drying, selecting and grading, prompting fragrance, packing and

The production process for our clean fuel oil is

illustrated as follows.

The self-control design of the facilities for storage of raw materials and addition of additives shall, in accordance

with the requirements of the process, conduct centralized indication and adjustment of the temperature, flow rate and liquid level of

the raw oil tanks, raw oil metering tanks, product oil allocation tanks and finished oil tanks during the fuel blending process;

remote monitoring of the whole fuel production process, and conduct on-the-spot indication of pressure and partial flow rate.

We currently manufacture our products through production

Our operations begin with

the procurement of high-quality fresh green tea leaves from selected suppliers.

These raw materials undergo a series of processing steps,

including withering, rolling, controlled microbial fermentation, and drying.

The fermentation stage is critical, as it involves carefully

managed microbial activity that develops the tea’s distinctive flavor profile, aroma, and color, as well as its characteristic aging

Through this process, the tea acquires the attributes commonly associated with traditional dark tea products.

Following fermentation, the

tea is refined and compressed into standardized shapes, primarily brick form, to facilitate storage, transportation, and long-term aging.

Compressed products such as Qingzhuan tea are valued for their durability, extended shelf life, and ability to improve in taste and complexity

over time under appropriate storage conditions.

Leveraging our expertise in processing and fermentation, we focus on preserving these

traditional qualities while enhancing product consistency and usability.

The production process for

our clean fuel oil is illustrated as follows.

The self-control design of the facilities for storage of raw materials and addition of additives

shall, in accordance with the requirements of the process, conduct centralized indication and adjustment of the temperature, flow rate

and liquid level of the raw oil tanks, raw oil metering tanks, product oil allocation tanks and finished oil tanks during the fuel blending

realize remote monitoring of the whole fuel production process, and conduct on-the-spot indication of pressure and partial flow

The following table shows the number and types

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There are two production lines:

the production line of ethanol fuel and the production line of fuel additive

the production line of alcohol fuel

and the production line of fuel additive

Alcohol based clean fuel, liquid wax, arene and biomass fuel

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Our Supply Sources

Our business depends on obtaining

a reliable supply of various products, including tea, diesel l, and beef products.

Because of the diversity of available sources of these

raw materials, we believe that our raw materials are currently in adequate supply.

We obtain our raw materials

primarily from domestic procurement for our tea production and diesel.

When it comes to our beef products, we rely on overseas suppliers

to import the raw materials.

Shandong Yunchu carries out our beef products business.

It mainly purchased

frozen beef from six countries including Uruguay, Brazil, Chile, Argentina, Australia and New Zealand and 25 factories are involved.

top ten suppliers include:

Marrig, Minerva S.A., G & K O’Connor Pty Ltd, Frigorifico matadero Pando ontilcor S.A., Las Moras,

Frigorifico de Osorno S.A., Ersinal S.A.

ecoparks S.A., lorsinal S.A., and Minerva S.A.

The Company has established a stable long term

cooperative relationship with these beef and mutton manufacturers.

The stable supply provides competitive advantage for Company to procure

various beef products with high quality and low price to meet the needs of domestic customers.

Our business depends on the

availability of a reliable supply of various raw materials and products, including tea leaves, chemical materials, alcohol-based fuel

inputs, methanol fuel additives, and diesel.

Due to the diversity and availability of supply sources for these materials, we believe our

current supply is adequate to support our operations.

We source our raw materials

primarily through domestic procurement channels to support our tea production, methanol fuel additive, alcohol-based fuel, and diesel

We select suppliers based

on price and product quality.

We typically rely on numerous domestic suppliers, including some with whom we have a long-term relationship.

Our suppliers generally include wholesale agricultural product companies, food production companies, tea bag processing companies and

chemical products wholesale company.

principally on pricing, product quality, reliability of supply, and consistency of delivery.

We typically procure materials from multiple

domestic suppliers, including certain suppliers with whom we have maintained long-term business relationships.

Our suppliers generally

include wholesale agricultural product companies, food production enterprises, tea processing and packaging companies, and wholesalers

of chemical products and diesel.

Our Customers

Our products are sold in Chinese domestic market.

For our business of manufacturing

and sales of synthetic fuel products, we do business through direct sales, constructing refuel facilities and conducting technical cooperation

with other companies.

Shandong Yunchu distributes

beef products in China including several major beef products providers and distributors in China, such as Henan Hengdu Food Co., Ltd.,

Shanxi Pingyao Beef Group, Shandong Delis Food Co., Ltd.

and Heilongjiang Binxi Group.

Our products are primarily

sold in the domestic market in the People’s Republic of China through a combination of direct sales, sales agency relationships

and established distribution channels.

For our tea products business,

we sell primarily to regional distributors, wholesale customers, in the PRC market.

In addition to direct product sales, we also engage

sales agents to expand market coverage, strengthen channel penetration, and enhance product distribution across targeted regions.

For our methanol fuel additive,

alcohol based fuel and diesel products business, we market and sell our products through direct customer sales, the construction and operation

of refueling facilities, and technical cooperation arrangements with third-party business partners and commercial users.

Our customers

in this segment generally include transportation service providers, industrial users, fleet operators, and other enterprises seeking alternative

or cleaner fuel solutions.

We continue to expand our

customer base by strengthening relationships with existing channel partners, broadening our sales agent network, and pursuing strategic

cooperation opportunities to enhance market reach.

Our Sales and Marketing Efforts

We have not spent a significant

amount of capital on advertising in the past, and our advertising budget continues to be limited.

In 2024, our marketing and branding

efforts mainly focus on internet advertising and long-term customers.

In 2025, our sales and marketing

efforts are primarily focused on maintaining relationships with long-term customers, expanding our network of sales agents, and strengthening

our internal sales team to develop and manage distribution channels.

We emphasize a relationship-driven and channel-based approach to

enhance customer retention, broaden market coverage, and drive revenue growth.

We place significant importance

on maintaining and strengthening relationships with our existing long-term customers, who represent a stable and recurring source of revenue.

Our customer retention strategy includes regular communication, consistent product and service quality, and responsive support to address

evolving customer needs.

By fostering long-term partnerships, we aim to enhance customer loyalty, encourage repeat transactions, and generate

referrals that contribute to organic growth.

In addition, we have expanded

our sales capabilities by engaging sales agents to support market development and customer acquisition.

These sales agents assist in promoting

our products and services, identifying potential customers, and facilitating transactions, particularly in regions where we do not maintain

a direct operational presence.

This model allows us to extend our geographic reach efficiently and penetrate new markets without incurring

significant fixed costs, while maintaining flexibility in managing sales expenses.

Complementing our sales agent

network, we maintain an internal sales team that is responsible for developing and managing sales channels and distribution relationships.

Our sales team actively engages with distributors, wholesalers, and other channel partners to expand product availability and improve

market penetration.

They also coordinate closely with sales agents to align sales strategies, support channel partners, and ensure consistent

execution across different markets.

Through the combination of

strong customer relationship management, an expanding sales agent network, and a dedicated internal sales team focused on channel development,

we aim to strengthen our market presence, enhance distribution efficiency, and support sustainable business growth.

Intellectual Property

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Our Employees

As of December 31, 2024, we had a total of 62 employees.

As of December 31, 2025, we

had a total of 45 employees.

Approximately 45 of our full-time employees are directly employed by our subsidiaries.

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Quality Control

Administration

We have not experienced any

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We have research and development

staffs at each of our facilities.

staff at each of our facilities.

In total, 4 employees are dedicated to research and development.

Jingshan Sanhe owns a professional

laboratory which includes 17 sets of professional experimental equipment operated by 2 high-end scientific research experts to ensure

laboratory which includes 17 sets of professional experimental equipment operated by two high-end scientific research experts to ensure

the high quality of raw materials and products.

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of new products.

The amount we spent on research and development activities during the

years ended December 31, 2024 was not a material portion of our total expenses for the year.

The amount we spent on research

and development activities during the years ended December 31, 2025 was not a material portion of our total expenses for the year.

Government Regulation

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strives to create new value, we have been doing business in the following areas:

tea product cultivation, packaging, and manufacturing

and sales of synthetic fuel products, vehicles gasoline and diesel products;

importing and distribution of beef products and multimedia

design and advertising business.

Our tea product cultivation,

packaging, and sales business is subject to regulations of China’s Agricultural Ministry and Ministry of Health.

This regulatory

scheme governs the manufacture (including composition and ingredients), labeling, packaging and safety of food.

It also regulates manufacturing

practices, including quality assurance programs, for foods through its current manufacturing practice regulations, and specifies the standards

of identity for certain foods.

production, processing, and sale of dark tea and manufacture

and distribution of methanol fuel additives, alcohol based fuel, and diesel fuel.

Our tea product production

and sales business is subject to regulations of China’s Agricultural Ministry and Ministry of Health.

This regulatory scheme governs

the manufacture (including composition and ingredients), labeling, packaging and safety of food.

It also regulates manufacturing practices,

including quality assurance programs, for foods, through its current manufacturing practice regulations, and specifies the standards of

identity for certain foods.

We have obtained approvals from Chinese authorities for products that requires the approval under regulations,

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regulations, standards and specifications, as well as other the requirements of national management departments at all levels.

Our importing and distribution

of beef products business is carried out by Shandong Yunchu and we have obtained relevant certifications including the record registration

form of foreign trade operators and food business license.

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

Item 1. Business