TD Holdings Inc. Appoints Donghong Xiong to the Company's Board of Directors

Rhea-AI Summary

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.

Positive

• Donghong Xiong's extensive management experience in capital markets and private equity could provide valuable insights.
• The appointment may strengthen the Board's expertise, fostering better strategic decisions.

Negative

• The transition period may pose challenges in continuity and integration of Mr. Xiong into the existing Board dynamics.

SHENZHEN, China, Feb. 8, 2021 /PRNewswire/ -- TD Holdings Inc. (Nasdaq: GLG) (the "Company"), a commodities trading service provider in China, today announced that it has appointed Mr. Donghong Xiong as a director on the Company's Board of Directors, effective February 8, 2021. Mr. Xiong shall serve as an independent director.

Mr. Xiong has years of management experience in state-owned and public enterprises and he is also well versed in counter trading and private equity investment fund management. He has extensive experience in the capital market, corporate merger and acquisition, and business restructuring-related matters. He led investments in private small and medium-sized high-tech firms listed on China's high-tech board markets creating significant value for shareholders. Mr. Xiong has served as the managing director of Synergetic Innovation Fund Management Co., LTD. since 2014 and has served as the M&A general manager at Shanghai Search Media Group from 2007 to 2013. Mr. Xiong holds a Bachelor's degree in Philosophy from Sun Yat-Sen University and also received his MBA and PhD in Scientific Philosophy from Sun Yat-Sen University.

Ms. Renmei Ouyang, Chief Executive Officer and Chairwoman of the Company, stated, "We are very pleased to welcome Mr. Xiong to our Board of Directors. I look forward to his expertise and insights in helping to further strengthen our Board. We are delighted to be able to work with him and we believe he will bring his substantial capital market and leadership experience to the Board as we continue to move forward in our development."

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. 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 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:

Investor Relations:

Dong Cao     
EverGreen Consulting Inc.
Email: IR@changqingconsulting.com
Phone: +86 13502048965

View original content:http://www.prnewswire.com/news-releases/td-holdings-inc-appoints-donghong-xiong-to-the-companys-board-of-directors-301223692.html

SOURCE TD Holdings, Inc.

FAQ

Who is Donghong Xiong appointed by TD Holdings Inc. on February 8, 2021?

Donghong Xiong is appointed as an independent director on the Board of Directors.

What experience does Donghong Xiong bring to TD Holdings Inc.?

He has management experience in capital markets and private equity, especially with investments in high-tech firms.

How might Donghong Xiong's appointment impact TD Holdings Inc.?

His expertise may strengthen the Board and improve strategic decision-making.

What is TD Holdings Inc.'s primary business focus?

TD Holdings focuses on commodity trading and supply chain services, primarily involving non-ferrous metals.