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
