GLG - TD Holdings shares jump on signing non-binding LOI to acquire Jinbochuang and Jinmeike in all stock deal

TD Holdings (GLG) +22.6% premarket on signing LOI to acquire Guangdong Jinbochuang Special Purpose Vehicle Co., Ltd. and Hunan Jinmeike New Material Co., Ltd. to step into the unmanned logistics and new energy vehicle industry. The company agreed to acquire 100% of the equity interests in both the companies in exchange for certain amount of shares of common stock.Management expects the acquisition will be completed within 180 days after approval. Ms. Renmei Ouyang, the Chief Executive Officer commented, "The planned acquisition of Jinbochuang and Jinmeike is not only in line with our growth strategy of improving our industrial chain, but also corresponds to the national strategy of 'Made in China 2025' and the industry trend of manufacturing lightweight vehicles. We expect to incorporate lightweight new materials, applications and lightweight trucks into our global industry chain. Through leveraging the advantages of Jinbochuang's experience in new energy vehicle industry and Jinmeike's expertise in unmanned

For further details see:

TD Holdings shares jump on signing non-binding LOI to acquire Jinbochuang and Jinmeike in all stock deal