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BAIYU Holdings, Inc. (Nasdaq: GLG) is a leading commodities trading service provider headquartered in Shenzhen, China. Formerly known as TD Holdings, Inc., the company has recently undergone a significant transformation to expand its market presence and services.
The company primarily engages in the trading of non-ferrous metal products, purchasing these from upstream metal and mineral suppliers and selling them to downstream customers. Additionally, it offers a comprehensive supply chain service that integrates upstream and downstream enterprises, warehouses, logistics, information, and futures trading.
In a strategic move, the company has entered the renewable energy sector. Through its subsidiary Shenzhen Qianhai Baiyu Supply Chain Co., Ltd. ("Baiyu"), BAIYU Holdings has signed a procurement agency agreement with Shenzhen Jintongyuan Energy Storage Technology Co., Ltd. This agreement, valued at RMB1.2 billion (approximately US$165 million), focuses on procuring cobalt materials, vital for battery energy storage. This partnership underscores BAIYU's commitment to diversifying its service portfolio and increasing its presence in the renewable energy market.
Another notable development is the company's joint venture with Jintongyuan to establish Baiyu Energy Storage Technology Co. Ltd. in China. This venture will focus on developing high-performance energy storage batteries, particularly targeting the Southeast Asian market.
On October 27, 2023, BAIYU Holdings announced its plans to change its name from TD Holdings, Inc. to BAIYU Holdings, Inc., and its ticker symbol from GLG to BYU. The company will also effect a 1-for-50 reverse stock split to comply with the Nasdaq Capital Market's listing requirements.
BAIYU Holdings is dedicated to providing secure and reliable green energy solutions, focusing on fields such as clean energy, smart power, and fast-charging stations. With a strong emphasis on quality and safety, the company aims to offer integrated new energy solutions and operations worldwide.
For more information, please visit http://ir.tdglg.com.
TD Holdings, Inc. (NASDAQ: GLG) subsidiary, Shenzhen Qianhai Baiyu Supply Chain Co., Ltd., has been awarded the '2021 China Brand Annual Influential Enterprise' recognition. This accolade was presented during the 2021 China Brand Boao Summit, which focused on the development of Chinese brands. The company aims to enhance its brand value and competitiveness in the supply chain industry. CEO Renmei Ouyang expressed optimism about future growth, emphasizing a commitment to increasing the company's value and creating shareholder value through brand development.
TD Holdings, Inc. (Nasdaq: GLG) announced it received a notice from NASDAQ on April 5, 2021, regarding noncompliance due to the late filing of its Form 10-K for the fiscal year ending December 31, 2020. The filing was due by March 31, 2021. The notice does not affect the current trading status of the shares. The company has until June 4, 2021, to submit a compliance plan, which may extend the filing deadline to September 27, 2021, if accepted. The audit committee has also determined that prior financial statements should not be relied upon.
TD Holdings, Inc. (GLG) announced its intent to acquire a molybdenum copper ore mine in Kazakhstan from Chenzhou Dingmei Silver Co., Ltd. for RMB 98 million. This acquisition will involve an additional RMB 80 million investment for facility construction and operations. The deal marks the Company's first move into upstream resources, enhancing its strategic investment in commodities. The transaction's completion is contingent on due diligence and customary conditions. CEO Renmei Ouyang emphasized its significance for the Company's growth in ore assets.
TD Holdings, Inc. (Nasdaq: GLG) announced a waiver and warrant exercise agreement on March 10, 2021, allowing accredited investors to cashlessly exercise up to 1,630,000 warrants, including 100,000 May Warrants and 1,530,000 April Warrants. The exercise price of these warrants will be waived, with waivers of $0.37 and $1.03 respectively. The company will not receive any proceeds from this warrant exercise, and shares from these warrants are registered under a Form S-3 registration statement effective since August 2020. The company plans to file a prospectus supplement for the resale of these shares.
TD Holdings, Inc. (Nasdaq: GLG) has received a Dangerous Chemicals Business License in China, granted by the State Administration of Work Safety. This license allows the company's subsidiary, Hainan Jianchi Import and Export Co., Ltd., to handle hazardous chemicals and energy products, supporting its strategic expansion into the energy commodities sector. CEO Ouyang Renmei emphasized the goal of leveraging blockchain technology to enhance commodity trading and supply chain solutions. This move aligns with the company's long-term growth strategy, aiming for a leading position in commodity services.
TD Holdings, Inc. (Nasdaq: GLG) has successfully completed a private placement of 15 million shares at $1.63 each, raising $24.45 million. The shares were purchased by CEO Renmei Ouyang and significant shareholder Shuxiang Zhang. Proceeds will be used for general corporate purposes and enhancing operations, as stated by Ouyang, who emphasized confidence in the company's future and a shift towards digital trading services. This move is aimed at improving operational efficiency and liquidity for corporate clients.
TD Holdings Inc. (Nasdaq: GLG) has appointed Mr. Donghong Xiong as an independent director to its Board of Directors, effective February 8, 2021. Mr. Xiong brings extensive experience in management, capital markets, and private equity, having led investments in high-tech firms in China. CEO Renmei Ouyang expressed optimism about Xiong's expertise in strengthening the Board and contributing to the company's development. TD Holdings operates in commodity trading and supply chain services, focusing on non-ferrous metals.
TD Holdings, Inc. (Nasdaq: GLG) has signed a non-binding letter of intent to acquire Tongdow E-Commerce Group, a B2B digital e-commerce platform in China. This acquisition aims to enhance the Company’s commodities trading capabilities through digital technology and improve profitability. Tongdow serves approximately 150,000 customers with a cumulative transaction scale exceeding RMB800 billion. The deal will involve a combination of restricted shares and cash for Tongdow’s equity owners. TD Holdings anticipates that its trading scale could exceed US$1.5 trillion within five years.
TD Holdings, Inc. (Nasdaq: GLG), a commodity trading and supply chain management service provider in China, has addressed recent stock volatility in a statement. The company is currently unaware of any specific reasons behind the fluctuations in its stock price or any undisclosed material developments affecting its operations. Management emphasized their commitment to monitoring factors impacting stock volatility and assured that any pertinent information will be disclosed timely through press releases or SEC filings.
On November 13, 2020, TD Holdings, Inc. (NASDAQ: GLG) reported significant financial growth for Q3 2020, achieving $7.21 million in operating income and a net profit of $1.18 million. This reflects increases of 1,077.48% and 1,103.69% compared to Q3 2019. The company's success is attributed to its new commodity trading and supply chain services, especially following the acquisition of Shenzhen Qianhai Baiyu Supply Chain Co., Ltd. on October 26, 2020, positioning it for further growth in these sectors.
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