TD Holdings, Inc. Announces Strategic Cooperation with Guangdong Enterprise Investment Promotion Association to Develop Lightweight New Materials Business

SHENZHEN, China, Sept. 23, 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 "Agreement") on September 17, 2021 with Guangdong Enterprise Investment Promotion association ("GEIP"), a not-for-profit organization founded by leading enterprises, financial institutions, investment institutions, and government investment promotion agencies, in Guangdong province.

Pursuant to the Agreement, the Company plans to develop a lightweight new materials business in China. GEIP agrees to provide assistance and services to the Company by using its extensive resources, assisting the Company with launching its lightweight new material business, jointly establish an industry guidance fund with local governments, as well as launching the Company's smart digital cloud warehouse. The parties plan to enter into a definitive agreement with details of the cooperation in the future.

Ms. Renmei Ouyang, the Chief Executive Officer of the Company, commented, "It is our honor to cooperate with GEIP. According to the International Energy Agency's Global Electric Vehicle Outlook, the global electric vehicle fleet across all transport modes (excluding two/three-wheelers) shall expand from over 11 million in 2020 to almost 145 million vehicles by 2030, an annual average growth rate of nearly 30%. With the growth of the electric vehicle market, this cooperation will provide opportunities for the Company to develop the lightweight new materials business and build a new material supply chain for the electric vehicles industry."

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 https://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. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. 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 https://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.