BAIYU Holdings and JD.com subsidiaries sign payment service agreement

BAIYU Holdings (BYU) subsidiary Shenzhen Tongdow signed a service agreement with a wholly-owned subsidiary of Beijing Jingdong Financial – JD Tech – to jointly launch a trading payment platform for commodity enterprises. JD Tech, an affiliate of JD.com (JD), is a specialized business arm committed to leveraging technology to serve various industries. It aspires to deliver end-to-end technical products and solutions to a diverse clientele including enterprises, financial institutions, and governments. This agreement provides technical support for enterprise payment settlements and supply chain financing for bulk customers of the company’s subsidiaries. At present, the company is committed to the network layout of photovoltaic, energy storage power and fast charging stations and the operation service of new energy industry. In the future, the company plans to deepen its cooperation with JD Digits in areas like enterprise payment and settlement, supply chain finance, etc.