SHENZHEN, China, April 19,
2023 /PRNewswire/ -- TD Holdings, Inc. (Nasdaq: GLG)
(the "Company" or "TD Holdings"), a commodities trading service
provider in China, today announced
that its controlling subsidiary Shenzhen Tongdow Internet
Technology Co., Ltd. ("Tongdow"), a leading integrated service
provider for an online to offline e-commerce commodities trading
platform Tongdow.com, achieved record-breaking operation results in
the first quarter of 2023 with a gross merchandise value (GMV) of
RMB99 billion, increased by
RMB11 billion from the same period of
last year with a 12.5% year-over-year growth.
Previously, Frost & Sullivan released an industry report
entitled "China's B2B
E-commerce Platform for Non-ferrous Metals Market, Independent
Market Research", which indicates that in 2021, the top three B2B
e-commerce platforms for non-ferrous metals in terms of GMV are
Tongdow ranked No.1 at RMB440
billion, Smm.cn ranked No.2 at RMB100
billion, and Mymetal.net ranked No.3 at RMB90 billion. Tongdow has nearly 12,000
information and transaction customers and has become a pioneer and
leader in the e-commerce platform for bulk products in the
non-ferrous metal industry. Tongdow connects many important
distribution centers for non-ferrous metals in China, and has set up a stable marketing and
service network to provide customers with fast and professional
technical support.
Ms. Renmei Ouyang, the Chief
Executive Officer of the Company, stated, "We are delighted to see
the fast-growing GMV of Tongdow. We acquired Tongdow in
October 2022 to pave the way for
offering high-quality platform services for global commodities
trading and supply chains. Looking ahead, we will continue creating
a world-leading integrated intelligent B2B e-commerce platform and
create long-term value for our shareholders."
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
subsidiaries. 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, which 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.
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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content:https://www.prnewswire.com/news-releases/td-holdings-incs-tongdow-achieves-record-breaking-operation-results-in-the-first-quarter-of-2023-with-gmv-of-rmb99-billion-301800292.html
SOURCE TD Holdings, Inc.