The anticipated annual capacity gain of the Project is
expected to reach US$412
million
SHENZHEN, China, Aug. 28,
2023 /PRNewswire/ -- TD Holdings, Inc. (Nasdaq:
GLG) ("the Company"), a commodities trading service provider in
China, today announced that it has
entered into a strategic cooperation agreement (the "Agreement")
with Shenzhen Jintongyuan Energy Storage Technology Co., Ltd.
("Jintongyuan"), a leading tech enterprise specializing in the
R&D and production of high-performance energy storage batteries
in China, to develop a storage
battery project(the "Project") in southeast Asia. The Project represents the Company's
ambition of stepping into the renewable energy storage battery
market of southeast Asia.
Pursuant to the strategic framework, both parties agree to
establish a joint venture (the "JV") named Baiyu Energy Storage
Technology Co. Ltd. in China. The
Company and Jintongyuan will hold a 51% and a 49% equity interest
of the JV, respectively. The Company agrees to take in charge of marketing and
sales of the Project and Jintongyuan agrees to take in charge of
R&D and energy storage battery production of the Project. Once
completed, the anticipated annual capacity gain of the Project is
expected to reach RMB 3.0 billion
(approx. US$412 million), which will
significantly boost the Company's gain and performance in the
foreseeable future.
In this strategic partnership, Southeast Asia is in the spotlight, thanks to
its sizable population, booming economy, and business-friendly
policies. Jintongyuan, already a frontrunner in battery innovation,
plans to power industries from electric cars and transportation to
healthcare, smart homes, and smart lighting.
Ms. Renmei Ouyang, CEO of TD
Holdings, Inc., shared her enthusiasm, and stated, "Our strategic
partnership with Jintongyuan is designed to strengthen our foothold
in the global renewable energy market. By focusing on the
development and deployment of advanced energy storage batteries, we
aim to bolster our profitability and establish a technology-driven
ecosystem in the renewable energy sector. This approach ensures
that our customers benefit from competitive, high-quality energy
storage solutions."
About Shenzhen Jintongyuan Energy Storage Technology Co.,
Ltd.
Shenzhen Jintongyuan Energy Storage Technology Co., Ltd. stands
as a leading tech enterprise specializing in the R&D and
production of high-performance energy storage batteries. With a
commitment to offering comprehensive solutions for global new
energy storage systems and specialized domains, their product range
spans sectors including electric vehicles, transportation,
healthcare, smart homes, energy storage, and intelligent lighting.
Upholding values of exceptional integrated development and design,
optimal cost control paired with a quality-first approach, and
efficient marketing strategies, Jintongyuan ensures both domestic
and international clients benefit from safe, lightweight, and
reliable green energy products.
About TD Holdings, Inc.
TD Holdings, Inc. is a service provider currently engaging in
the commodities trading business and supply chain service business
in China. Its commodities trading
business primarily involves purchasing non-ferrous metal products
from upstream metal and mineral suppliers and then selling to
downstream customers. Its supply chain service business primarily
has served as a one-stop commodity supply chain service and digital
intelligence supply chain platform integrating upstream and
downstream enterprises, warehouses, logistics, information, and
futures trading. For more information, please visit
http://ir.tdglg.com.
Safe Harbor Statement
This press release may contain certain "forward-looking
statements" relating to the business of TD Holdings, Inc. and its
subsidiary companies. All statements, other than statements of
historical fact included herein are "forward-looking statements."
These forward-looking statements are often identified by the use of
forward-looking terminology such as "believes," "expects" or
similar expressions, involving known and unknown risks and
uncertainties. Although the Company believes that the expectations
reflected in these forward-looking statements are reasonable, they
do involve assumptions, risks and uncertainties, and these
expectations may prove to be incorrect. The following factors,
among others, could cause actual results to differ materially from
those described in these forward-looking statements: there is
uncertainty about the spread of the COVID-19 virus and the impact
it will have on the Company's operations; the demand for the
Company's products and services, global supply chains and economic
activity in general; the occurrence of any event, change or other
circumstances; and other risks and uncertainties described herein,
as well as those risks and uncertainties discussed from time to
time in other reports and other public filings with the Securities
and Exchange Commission by TD Holdings, Inc. Investors should not
place undue reliance on these forward-looking statements, which
speak only as of the date of this press release. The Company's
actual results could differ materially from those anticipated in
these forward-looking statements as a result of a variety of
factors, including those discussed in the Company's periodic
reports that are filed with the Securities and Exchange Commission
and available on its website at http://www.sec.gov. All
forward-looking statements attributable to the Company or persons
acting on its behalf are expressly qualified in their entirety by
these factors. Other than as required under the securities laws,
the Company does not assume a duty to update these forward-looking
statements.
For more information, please contact:
Ascent Investor Relations LLC
Ms. Tina Xiao
Email: tina.xiao@ascent-ir.com
Tel: +1 917 609 0333
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SOURCE TD Holdings, Inc.