GLG - TD Holdings enter into LOI for RMB300M special fund for digital cloud warehouse

TD Holdings (NASDAQ:GLG) and its wholly owned subsidiary, Shenzhen Baiyu Jucheng Data Technology, have entered into a non-binding LOI with Shenzhen Meifu Capital Management to launch a RMB300M special fund to accelerate development of a digital cloud warehouse. Pursuant to the LOI, the Co., BJDT, and SMCM agree to establish a joint venture fund company with an estimated total size of RMB300M. The Co. and BJDT agree to be responsible for the Fund's operations and contribute 20% to the Fund's registered capital, while SMCM agrees to contribute 80% to the Fund's registered capital. Ms. Renmei Ouyang, the CEO of the Co., stated, "We plan to accelerate the construction of domestic and overseas digital cloud warehouses, strengthen the research and development of smart technologies, create a digital economy in commodities industry, and promote the Company's strategic transformation."

For further details see:

TD Holdings enter into LOI for RMB300M special fund for digital cloud warehouse