TD enters strategic cooperation agreement with Jintongyuan

TD Holdings announced that it has entered into a strategic cooperation agreement with Shenzhen Jintongyuan Energy Storage Technology, Jintongyuan, to develop a storage battery project in southeast Asia. The Project represents the Company’s ambition of stepping into the renewable energy storage battery market of southeast Asia. Pursuant to the strategic framework, both parties agree to establish a joint venture named Baiyu Energy Storage Technology in China. The Company and Jintongyuan will hold a 51% and a 49% equity interest of the JV, respectively. The Company agrees to take in charge of marketing and sales of the Project and Jintongyuan agrees to take in charge of R&D and energy storage battery production of the Project. Once completed, the anticipated annual capacity gain of the Project is expected to reach RMB 3.0 billion, approx. US$412 million, which will significantly boost the Company’s gain and performance in the foreseeable future.