Name of related Party

Relationship to the Company

Nature of transactions

Forasen Group Co., Ltd. ("Forasen Group")

Owned by Mr Zhengyu Wang, the Chairman of Board of Directors of the Company

Purchases from the Company; leases factory building to the Company; provides the real property and land use right as additional security for a bank loan.

Zhejiang Tantech Bamboo Technology Co., Ltd.

Under common control of Mr Zhengyu Wang and Ms Yefang Zhang, CEO of the Company

Lease factory building to the Company; purchases from the Company; provide guarantee for the Company's short-term loan; provide an office property and land use right as additional security for the Company's short-term bank loan.

Hangzhou Forasen Energy Technology Co., Ltd.

Controlled by Mr Zhengyu Wang

Purchase from the Company.

Zhejiang Forasen Asset Management Co., Ltd.

Controlled by Mr. Zhengyu Wang and CEO Ms. Yefang Zhang

Purchase from the Company

Hangzhou Forasen Technology Co., Ltd

Controlled by Mr. Zhengyu Wang

Sublease of office space from the Company.

FarmNet Limited

Controlled by CEO Ms. Yefang Zhang

Advances to the Company

Yefang Zhang

CEO of the Company

Provide a working capital loan.

Xinyang Wang

Shareholder of Nongyuan Network

Provide the real property and land use right as additional security for the issuance of bank acceptance notes by Nongyuan Network. Provide a real property as additional security for a short-term bank.

Dehong Zhang

CEO of the Company, Yefang Zhang's brother

Provide a guarantee as an additional security for a revolving loan.

Zhejiang Forasen Zhutan Co., Ltd.

Controlled by CEO Ms. Yefang Zhang

Purchase from the Company.

Hangzhou Xinying Industrial Co., Ltd.

Controlled by Mr. Zhengyu Wang and CEO Ms. Yefang Zhang

Purchase from the Company.

Hangzhou Carbon Technology Co., Ltd.

Controlled by CEO Ms. Yefang Zhang

Purchase from the Company.

Shenzhen Daliniu New Energy Car Rental Co., Ltd

A subsidiary of non-controlling interest

Purchase from the Company.