Planet Green Holdings Corp (PLAG) is a China-based multi-segment company that operates across dark tea processing, alcohol-based alternative vehicle fuels, and digital advertising services. Revenue is generated through product sales of compressed and loose-leaf dark tea, fuel sales to vehicle fuel customers, and digital advertising campaign services delivered through its Fast Approach subsidiary. The tea segment produces brick dark tea, mini brick dark tea, and loose-leaf dark tea using fermentation, compression, and proprietary re-portioning techniques, primarily competing against smaller regional tea processors in China. The fuel segment sells alcohol-based high-clean fuels for transportation, competing directly with conventional gasoline, diesel, and other alternative fuel providers. Fast Approach operates in cross-border digital advertising between China and North America, competing against global agencies and programmatic platforms. The company is incorporated with principal operations in China, and the majority of its directors and senior officers are PRC nationals or residents. PLAG reported net losses from both continuing and discontinued operations for fiscal years ended December 31, 2025 and December 31, 2024, per its 10-K filed March 31, 2026.

Revenue model

Transactional product sales from compressed dark tea and loose-leaf dark tea; fuel sales of alcohol-based alternative vehicle fuels; service fees from cross-border digital advertising campaign execution through Fast Approach.

Products and services

Brick dark tea (flagship), mini brick dark tea, loose-leaf dark tea, Qingzhuan compressed tea; alcohol-based high-clean vehicle fuels; cross-border digital advertising services.

Customers and end markets

Vehicle fuel customers in transportation markets; tea consumers in China seeking traditional and convenience-oriented dark tea formats, including gifting and on-the-go formats; advertisers and brands executing cross-border campaigns between China and North America.

Value-chain role

Vertically involved in tea processing from raw leaf sourcing through fermentation, compression, and distribution; fuel production and distribution through subsidiary Jingshan Sanhe (holds Permit for Hazardous Chemical Products); digital advertising intermediary and campaign executor via Fast Approach.

Geographic exposure

Primary operations in China; Fast Approach serves both China and North American advertising markets; two Hong Kong subsidiaries with no material operations as of the 10-K filing date (March 31, 2026).

Competitors

Conventional gasoline and diesel fuel providers, Alternative vehicle and fuel companies, Waste management and refuse collection companies, Industrial gas providers, Truck stop and fuel station operators, Fuel distributors, Smaller local tea processors, Specialty tea merchants, Family-operated tea workshops, Large global advertising agencies, Major demand-side and programmatic advertising platforms, Specialized cross-border marketing firms, Local media buying agencies, Boutique digital advertising service providers

Source: SEC 10-K, filed 2026-03-31

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