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September 10, 2021 8:04 AM EDT
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TD Holdings, Inc. (Nasdaq: GLG) (the “Company”), a commodities trading service provider in China, today announced that the Company has entered into a strategic cooperation framework agreement (the “Agreement”) with Guangzhou Wensheng Blockchain Technology Co., Ltd. (“GWBT”), a high-tech company focusing on “blockchain+” application solutions to apply blockchain technology in the supply chain financing and development of cloud based warehouse.
Pursuant to the Agreement dated September 8, 2021, both parties agree to share blockchain technology related information and jointly apply blockchain technology in the supply chain financing and digital cloud warehouse business. GWBT agrees to support the Company in building and improving its digital cloud warehouse logistics platform and optimizing the settlement and payment system for commodities trading. GWBT also agrees to provide the Company with technical equipment and consulting services regarding tracing and financing of supply chain. The parties plan to enter into definitive agreement with details of the cooperation in the future.
Ms. Renmei Ouyang, the Chief Executive Officer of the Company, commented, ” We are excited to become a strategic partner of GBWT. Leveraging the respective advantages of GBWT’s blockchain technology and the Company’s access to U.S. capital market as a U.S. listed company, we believe the alliance will further enhance our existing platform and business. With the tremendous market potential of blockchain in the supply chain financing and digital cloud warehouse business, we look forward to working with GBWT on this important initiative.”