SHENZHEN, China, July 6, 2021 /PRNewswire/ — TD Holdings, Inc. (Nasdaq: GLG) (the "Company"), a commodities trading service provider in China, today announced that the Company entered into a strategic cooperation framework agreement (the "Framework Agreement") with Sinotech Minerals Exploration Co., Ltd ("Sinotech"), a state-controlled company engaged in the exploration and development of commercial mineral resources and exploit global mineral resources.
Pursuant to the Framework Agreement, the parties established a framework for guidance purposes and indicated their intentions to enter into definitive agreements in the future for various projects. The parties agree to cooperate closely on the exploration and development of domestic and foreign mining projects, and regularly exchange information and share opportunities for cooperation in mining projects. Sinotech agrees to act as a technical professional consultant for the Company’s mining development by leveraging its advantages, personnel and experience in mineral exploration, mining and processing, and the mineral market.
Ms. Renmei Ouyang, Chairwoman and Chief Executive Officer of TD Holdings, commented, "We are excited to enter into the strategic alliance with Sinotech. Currently, our commodity trading business is mainly purchasing non-ferrous metal products from suppliers and then selling them to our customers. The supply chain service business is mainly serving as a one-stop commodity supply chain service and a digital intelligence supply chain platform integrating upstream and downstream enterprises, warehouses, logistics, information, and futures trading. The Framework Agreement enables us to leverage our own advantages to integrate and develop global mineral resources through close cooperation with Sinotech in the exploration and development of mining projects and consolidate the Company’s position and influence in the mining field. Exploiting global mineral resources is in line with our global growth strategy. In the next 5-10 years, we expect to gradually acquire the mining rights and ownership of multiple metal mines, expand our business to the integration of upstream resources, and improve our overall profitability."
About TD Holdings, Inc.
TD Holdings, Inc. is a service provider currently engaging in commodity trading business and supply chain service business in China. Its commodities trading business primarily involves purchasing non-ferrous metal product 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, involve 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 that could give rise to the terms of the Framework Agreement not hereafter being memorialized in a definitive agreement; the outcome of any legal proceedings that have been, or will be, instituted against the Company or other parties to the Framework Agreement following announcement of the Framework Agreement and transaction contemplated by the Framework Agreement; risks that the proposed transaction disrupts current plans and operations and the potential difficulties and consummation of the transaction described therein; changes in applicable laws or regulations; and other risks and uncertainties described herein. 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
Tel: +1 917 609 0333