TD Holdings, Inc. ("TD" or "the Company"), is a holding company that was incorporated under the laws of the State of Delaware on December 19, 2011.
As of September 30, 2020, the Company conducts business through Huamucheng , a subsidiary of the Company, which is engaged in the commodity trading business and the supply chain management services to customers in the PRC. Our supply chain management services consist of loan recommendation services and commodity product distribution services.
commodity trading: purchasing non-ferrous metal product, such as aluminium ingots, copper, silver, and gold, from upstream metal and mineral suppliers and then selling to downstream customers.
supply chain management: in connection with the Company ' s commodity trading services, the Company launched its supply chain management service in December 2019 to help downstream customers obtain sufficient funding for metal products purchasing and help upstream suppliers distribute their metal products.
For the nine months ended Sept ember 30, 2020, the Company recorded revenue of $6,298,245 from commodities trading business and $6,093,072 from supply chain management services, from Huamucheng's operations.
For the three months ended September 30, 2020, the Company recorded revenue of $3,680,944 from commodities trading business and $3,531,885 from supply chain management services, from Huamucheng's operations.
For the nine and three months ended September 30, 2020, the Company generated net income of $222,119 and $4,170,658 from its continuing business.
Acquisition of supply chain service business
As disclosed on the Company's current report on Form 8-K filed on October 29, 2020, Huamucheng acquired Shenzhen Qianhai Baiyu Suppy Chain Co., Ltd (“Qianhai Baiyu”) pursuant to certain share purchase agreements dated October 26, 2020.
Qianhai Baiyu was established on August 17, 2016 and engages in the following business:
supply chain service business, covering a full range of commodities, including non-ferrous metals, ferrous metals, coal, metallurgical raw materials, soybean oils, oils, rubber, wood and various other types of commodities.
supply chain infrastructure, which includes processing, logistics, warehousing and terminals.
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TD Holdings, Inc.
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