TD Holdings, Inc. (GLG) stock rises during pre-market trading session. Let’s look at the recent development.

0
502
TTE Stock
TTE Stock

TD Holdings, Inc. (NASDAQ: GLG) stock declined by 4.64% at the last close whereas the GLG stock price gains by 6.42% in the pre-market trading session. TD Holdings is a services company in China that specializes in commodities trading and supply chain management.

>> 7 Top Picks for the Post-Pandemic Economy << 

GLG stock’ Recent Significant Development

On August 31, 2021, TD Holdings stated that it has gone into a strategic collaboration agreement with Jinyibao International Technology Company Limited, a technology firm that specializes in worldwide gold spot trading. The deal will remain in effect until August 31, 2023.


Will You Miss Out On This Growth Stock Boom?

A new megatrend in the fintech market is well underway. Mobile payments are projected to boom into a massive $12 trillion market by 2028. According to Motley Fool this growth stock could "deliver huge returns." Not only in the immediate future but also over the next decade. Especially since the man behind this company is a serial entrepreneur who has been wildly successful over the years.

And this is just one of our 5 Best Growth Stocks To Own For 2023.

Sponsored


Read More

According to the agreement, JIT aims to accomplish its objective of US$3 billion in gross merchandise volume from worldwide gold spot trading in three years, with China, India, Southeast Asia, the Middle East, Europe, and North America among its target markets. GLG undertakes to create a supply chain service plan for JIT and offer assistance along the supply chain, such as supply chain procurement and sales, inventory pledge financing, accounts receivable management, factoring, financial assistance, and leasing, based on JIT’s needs.

Furthermore,

China’s gold production in 2020 is first in the world, as per the China Gold Association’s “China Gold Yearbook 2021.” China’s gold market had a total transaction volume of almost 95,500 tons, with gold demand reaching 820.98 tons. India is only second to China in terms of gold consumption, with 544.6 tons used in 2019. The Company aims to develop its worldwide gold spot trading business in China, India, and the surrounding regions, with an emphasis on China, India, and the surrounding regions.

>> 7 Top Picks for the Post-Pandemic Economy << 

Ms. Renmei Ouyang, the CEO of GLG stock, stated,

For the Company’s continuous production, collaborating with JIT to access the world gold spot trading market is critical. This transaction enhances the Company’s commodities trading platforms, extends their size, and provides the Company with a new profit growth point.

LEAVE A REPLY

Please enter your comment!
Please enter your name here