TD Holdings, Inc. Announces New Strategic Alliance to Develop Intelligent Automobile System Business

TD Holdings, Inc. a commodities trading service provider in China, announced that it has entered into a strategic cooperation framework agreement (the “Agreement”) on December 20, 2021 with Shanghai Eagsen Intelligent Technology Co., Ltd. (“Eagsen”), a leading company engaging in research and development (“R&D”) of automotive informatization and intelligence.

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Pursuant to the Agreement, the Company and Eagsen agree to jointly develop the intelligent automobile system and digital cloud warehouse business. Eagsen agrees to provide consulting support for the development of an intelligent automobile system by leveraging its automobile communication technologies while the Company provides the necessary funding for its development. The intellectual properties developed through the cooperation shall be jointly owned by both parties. Both parties agree to consider expanding their cooperation further by utilizing the financing advantages of the Company as a U.S.-listed company. The parties plan to enter into a definitive agreement with details of the cooperation in the future.

Ms. Renmei Ouyang, the Chief Executive Officer of the Company, commented, “Eagsen is a highly qualified partner and its expertise will be a strong foundation for the joint development of the Company’s intelligent automobile system platform. This is a great step for the development of our new potential business in the field of intelligent automobile system and digital cloud warehousing platform. According to EqualOcean’s data, the number of vehicles with Internet of Vehicle is expected to reach 383 million in 2025 from 166 million in 2021 in China. We believe our strategic partnership will enable us to seize market initiative and gain market share in the automobile industry. We are excited about the partnership and plan to bring this intelligent automobile system to the market.”

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