On January 24, TD Holdings Inc. (GLG) announced being awarded as one of the 2021 Top 30 Industrial Internet Companies in China. Consequently, the stock became bullish in the after-hours.
In the regular session, GLG stock traded in the red with a big loss of 11.02%. The stock closed the session at $0.2382 with 1.13 million shares exchanging. Following the announcement, GLG increased by 13.35% at $0.2700 in the after hours.
The commodities trading and supply chain service business holding company, TD Holdings Inc. was founded in 2011. Currently, the company has a market capitalization of $36.99 million with its 138.17 million shares outstanding. Further, GLG stock stands at a year-to-date loss of 42.62% while it went down by 89.60% last year.
Recent News
As per Monday’s announcement, the company participated in the Industrial Internet CEO Sanya Summit and Venture Capital Carnival. During the event, GLG’s CEO, Ms. Renmei Ouyang was awarded the 2021 Outstanding CEO of China Industrial Internet. Subsequently, the company received the award of 2021 Top 30 Industrial Internet Listed Companies in China.
Moreover, B2B Internal Reference, Industrial Internet Vision, and Industrial Internet Eagle Association co-sponsored the event. Additionally, the event was supported by Zhima Credit of Ant Group, which is also called Sesame Credit.
Strategic Alliance with Shanghai Eagsen
On December 22, the company announced a strategic framework agreement with Shanghai Eagsen Intelligent Technology Co., Ltd. Eagsen is a leading company that engages in the research and development of automotive information and intelligence.
According to the agreement, both the parties will co-develop the intelligent automobile systems and digital cloud warehouse business. In addition, the parties also plan on expanding their cooperation with a definitive agreement in the future.
Digital Cloud Warehouse Development
Previously, for the development of the digital cloud warehouse, GLG, and its subsidiary, Shenzen Baiyu Jucheng Data Technology Co., Ltd. (BJDT) launched an RMB300 million special fund. The company and BJDT had entered into a non-binding letter of intent with Shenzen Meifu Capital Management Co., Ltd. for the fund.
GLG’s Financials
The company declared its Q3 2021 financial results on November 15, 2021.
In the third quarter of 2021, the company had revenue of $54.77 million, against $6.87 million in Q3 of 2020. Thus, showing a huge increase of 697% year over year.
GLG had a net income of $0.46 million (none per share) in Q3 of 2021, against $0.55 ($0.01 per share) in Q3 of 2020.
