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TD Holdings, Inc. (Nasdaq: GLG) announced a strategic cooperation agreement with Jinyibao International Technology Company Limited on August 31, 2021. The agreement aims to achieve US$3 billion in gross merchandise volume from global gold spot trading over the next three years, focusing on markets including China, India, and Southeast Asia. The Company will provide tailored supply chain services to JIT.
This partnership is seen as a significant step for TD Holdings' long-term growth, expanding its commodity trading platforms and creating new profit opportunities.
TD Holdings, Inc. (Nasdaq: GLG) reported a substantial revenue surge of 2981%, reaching $59.84 million in Q2 2021, driven by its commodities trading operations. Despite challenges from the COVID-19 pandemic and previous losses in its used luxurious car leasing business, the company shifted focus to commodities trading after divesting the leasing arm in August 2020. Net income from continuing operations was $0.36 million, recovering from a net loss of $5.17 million in Q2 2020. The company plans to enhance its competitive position by expanding into e-commerce and blockchain solutions.
TD Holdings, Inc. (Nasdaq: GLG) has signed a strategic cooperation agreement with the Yangzhou Economic & Technological Development Zone in China. The agreement facilitates the establishment of a wholly-owned subsidiary, Yangzhou Baiyu Venture Capital Co., Ltd., which will receive various preferential policies including financial and rental subsidies. The company plans to develop a blockchain payment and settlement platform to enhance online commodity trading, supporting multiple currencies such as RMB and Bitcoin. This initiative aims to improve service offerings to global trading clients.
TD Holdings, Inc. (Nasdaq: GLG) announced a trade cooperation agreement with the Yangpu Economic Development Zone management committee, effective until December 31, 2022. This partnership aims to expand the company's commodity trading operations, benefiting from preferential policies such as tax relief, financial support, and rental subsidies. CEO Renmei Ouyang expressed optimism about enhancing market presence in Hainan and exploring Southeast Asian markets through cross-border e-commerce.
TD Holdings, Inc. (Nasdaq: GLG) has signed a non-binding letter of intent to acquire Jinbochuang and Jinmeike, aiming to enter the unmanned logistics and new energy vehicle sectors. The acquisition will exchange shares of the Company’s stock, subject to due diligence and negotiations. Management anticipates completion within 180 days. This move aligns with the Company's strategy to enhance its industrial chain and reflects national initiatives like 'Made in China 2025'. The transaction is contingent on various approvals and conditions, with no assurance of completion.
TD Holdings, Inc. (Nasdaq: GLG) announced a strategic cooperation framework agreement with Sinotech Minerals Exploration Co., Ltd. This agreement aims to foster collaboration in exploring and developing mineral resources globally. Sinotech will provide technical expertise in mining development, enhancing TD's capabilities in the commodities trading sector. The alliance aligns with TD's ambition to acquire mining rights and improve profitability over the next 5-10 years. This partnership is expected to strengthen TD's position in the commodity supply chain and expand its business in the mining field.
TD Holdings, Inc. (Nasdaq: GLG) has announced it regained compliance with Nasdaq's periodic filing requirements as of June 29, 2021. The compliance notification followed previous warnings from Nasdaq on April 5 and May 18, 2021, regarding non-compliance. The company submitted its Form 10-K for the year ended December 31, 2020, on June 4, 2021, and its Form 10-Q for the period ended March 31, 2021, on June 25, 2021. TD Holdings specializes in commodities trading and supply chain services in China, focusing on non-ferrous metal trading and integrated supply chain solutions.
TD Holdings, Inc. (Nasdaq: GLG) has announced the completion of an acquisition of eight software copyrights pertaining to commodities storage in digital cloud warehousing through its subsidiary, Tongdow Hainan. The acquisition enhances its cryptocurrency payment and settlement capabilities and includes software systems aimed at improving warehouse order tracking and management. The company plans to leverage blockchain and IoT technologies to enhance supply chain efficiency and security. This move positions TD Holdings for growth in the digital commodities trading sector.
TD Holdings, Inc. (Nasdaq: GLG) has appointed Mr. Tianshi (Stanley) Yang as Chief Financial Officer effective June 11, 2021, following the resignation of Ms. Wei Sun. Yang brings extensive experience from his previous roles in investor relations, financial management, and auditing. The Chairwoman, Renmei Ouyang, expressed gratitude towards Sun for her contributions and confidence in Yang's expertise to enhance company growth and shareholder value. TD Holdings operates in the commodities trading sector in China, focusing on supply chain services and digital intelligence integration.
TD Holdings, Inc. (Nasdaq: GLG) announced it received a NASDAQ notice on May 18, 2021, regarding its non-compliance with filing requirements due to the late submission of its 10-Q for Q1 2021. The deadline was May 17, 2021. This notice does not affect the company's current stock trading status. The company has until June 4, 2021, to submit a compliance plan detailing an investigation into prior financial statements deemed unreliable. If accepted, they may have until September 27, 2021, to restore compliance.