Item 1.01 Entry Into A Material Definitive Agreement.
On December 16, 2022, Jiayi Technologies (Xianning) Co., Ltd. (the "Jiayi"), a
whole owned subsidiary of Planet Green Holdings Corp. (the "Company"), entered
into a Termination Agreement (the "Termination Agreement") with Xiaodong Cai
(the "Shareholder") and Anhui Ansheng Petrochemical Equipment Co., Ltd. (the
"Ansheng"), pursuant to which, among other things and subject to the terms and
conditions contained therein, Jiayi, the Shareholder and Ansheng agreed to
terminate all of the rights and obligations under the Amended and Restated
Business Cooperation Agreement, the Consultation and Service Agreement, the
Equity Option Agreement, the Equity Pledge Agreement, the Voting Rights Proxy
and Financial Supporting Agreement and the Power of Attorney (collectively, the
"VIE Agreements") entered among and between Jiayi, the Shareholder and Ansheng
on February 11, 2022. As consideration to the termination of the VIE Agreements,
the Shareholder shall pay RMB 6,000,000 to Jiayi upon execution and delivery of
the Termination Agreement. As a result of the completion of the transaction, the
Company no longer consolidates Ansheng's financial statements into the financial
statements of the Company for accounting purpose. The transaction was completed
on December 16, 2022.
Item 2.01 Completion of Acquisition or Disposition of Assets.
The information set forth in Item 1.01 above relating to the closing of the VIE
Agreements termination transaction is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. Description
10.1 Termination Agreement among and between Jiayi (Xianning) Technologies
Co., Ltd., Xiaodong Cai and Anhui Ansheng Petrochemical Equipment Co.,
Ltd.
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