Td Holdings, Inc. Announces Letter Of Intent To Acquire An Environmental Management Company Specialized In Tailings Treatment And Control Solutions

TD Holdings, Inc. (Nasdaq: GLG) (the "Company" or "TD Holdings"), a commodities trading service provider in China, today announced that it has entered into a non-binding letter of intent (the "LOI") to acquire the equity interest of Xinjiang Dede Xinyuan Environmental Protection Technology Co., Ltd. ("XDX"), an environmental management company specialized in tailings treatment and control solutions, with access to 200 million tons of asbestos tailings, primarily composed of silicon dioxide metallic magnesium elements. Through this proposed acquisition, the Company aims to expand its operations to include the refining of silicon dioxide and metallic magnesium new materials and provide value-added services to its clients within the non-ferrous metals sector through XDX's expertise in tailings treatment and control solutions.