TD Holdings, Inc. (NASDAQ: GLG) (the “Company”), a commodities trading service provider in China announced to establish a wholly-owned subsidiary Tongdow (Hainan) Data Technology Co., Ltd. in Hainan Province, China, officially launching the development and operation of a digital cloud storage for commodities trading business.
TD Holdings, Inc. officially made commodity trading and supply chain services its main business in November 2019. The latest quarterly report shows that the company’s main source of income comes from commodity trading and distribution services.
The launching of the digital cloud storage business will effectively solve the problems of shortage of funds and risk management of financial institutions, as well as enhance the security of physical transactions and delivery of commodities.
Ms. Renmei Ouyang, CEO, President and Chairwoman of the Board, said with confidence “We, TD Holdings, Inc. will comprehensively build a package of commodity supply chain service system based on the organic integration of trade, logistics, finance, and information. Relying on digital cloud storage and technologies based on the Internet of Things and blockchain, TD Holdings, Inc. will vigorously open a blue ocean market for global commodity trading, settlement, fee settlement and supply chain finance. The Industrial Internet will be the future biggest outlet in 10 years. The digitalization of industries and the standardization of commodities are the key to promote the industrial Internet.”
About TD Holdings, Inc.
TD Holdings, Inc. (Nasdaq: GLG) is a commodities trading service provider in China. The commodities trading business is conducted under the brand name “Huamucheng” by the Company’s VIE entity, Shenzhen Huamucheng Trading Co., Ltd. For more information please visit http://ir.tdglg.com.