SHENZHEN, China, Oct. 31,
2023 /PRNewswire/ -- BAIYU Holdings. Inc. (NASDAQ:
BYU) (hereinafter referred to as the "Company") announced that its
subsidiary Shenzhen Tongdow Internet Technology Co., Ltd. had
signed a service agreement with a wholly-owned subsidiary of
Beijing Jingdong Financial Technology Holding Co., Ltd.
(hereinafter referred to as "JD Tech") to jointly launch a trading
payment platform for commodity enterprises.
JD Tech, an affiliate of JD.com, Inc. ((NASDAQ: 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. Drawing on
advanced technological strengths in artificial intelligence, big
data, cloud computing, and the Internet of Things, JD Tech has
developed industry-specific products and solutions. These tools aid
businesses across all sectors to minimize supply chain expenses and
optimize operational efficiency, positioning JD Tech as a
dependable digital ally for the industry. Merging the expertise of
the former JD Digits and its Cloud & AI tech divisions, JD Tech
has evolved as the principal platform for external tech services
within JD.com, Inc. and its subsidiaries and affiliates. It boasts
an in-depth industry insight, solid risk management prowess, adept
user engagement, and enterprise service capabilities, enabling it
to provide targeted industry applications, product innovations, and
digital transformation services to its customers.
Shenzhen Tongdow Internet Technology Co., Ltd., a subsidiary of
the Company, has signed an "Enterprise Payment Technology Service
Agreement" with Beijing Tongbang Zhuoyi Technology Co., Ltd., a
wholly-owned subsidiary of JD Tech. This agreement provides
technical support for enterprise payment settlements and supply
chain financing for bulk customers of the Company's
subsidiaries.
The Company is an industry-leading B2B commodity e-commerce
platform and supply chain service provider. 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. The Company's main business is to invest in fast
charging stations and commercial machine stations and provide
customers with integrated new energy solutions and operations such
as photovoltaic, energy storage power and fast charging
stations.
The signing of this agreement signifies a closer collaboration
between the Company and JD Tech. In the future, the Company plans
to deepen its cooperation with JD Digits in areas like enterprise
payment and settlement, supply chain finance, etc., providing
comprehensive solutions for bulk commodity enterprise in online
payment and financial technology needs.
About BAIYU Holdings, Inc.
BAIYU Holdings, Inc. (NASDAQ: BYU) is a leading B2B bulk
commodity e-commerce platform and supply chain service provider.
Currently, the Company is focused on expanding its new business in
photovoltaic, energy storage power, and fast-charging power
stations, along with services for the new energy industry. The
Company's business involves investing in fast-charging power
stations, commercial power stations, and offering integrated new
energy solutions and operations that encompass photovoltaic, energy
storage, and fast-charging power stations. It offers comprehensive
solutions and operations for global new energy storage systems and
specialized sectors. With a central focus on new energy and an
orientation towards integrated power systems, the Company is
dedicated to fields like clean energy, smart power, intelligent
photovoltaic, and the operation and maintenance of fast-charging
station outlets. For more information, please visit
http://ir.tdglg.com.
Safe Harbor Statement
This press release may contain certain "forward-looking
statements" relating to the business of the Company and its
subsidiary companies. All statements, other than statements of
historical fact included herein are "forward-looking statements."
These forward-looking statements are often identified by the use of
forward-looking terminology such as "believes," "expects" or
similar expressions, involving known and unknown risks and
uncertainties. Although the Company believes that the expectations
reflected in these forward-looking statements are reasonable, they
do involve assumptions, risks and uncertainties, and these
expectations may prove to be incorrect. The following factors,
among others, could cause actual results to differ materially from
those described in these forward-looking statements: the demand for
the Company's products and services, global supply chains and
economic activity in general; the occurrence of any event, change
or other circumstances; and other risks and uncertainties described
herein, as well as those risks and uncertainties discussed from
time to time in other reports and other public filings with the
Securities and Exchange Commission by the Company. Investors should
not place undue reliance on these forward-looking statements, which
speak only as of the date of this press release. The Company's
actual results could differ materially from those anticipated in
these forward-looking statements as a result of a variety of
factors, including those discussed in the Company's periodic
reports that are filed with the Securities and Exchange Commission
and available on its website at http://www.sec.gov. All
forward-looking statements attributable to the Company or persons
acting on its behalf are expressly qualified in their entirety by
these factors. Other than as required under the securities laws,
the Company does not assume a duty to update these forward-looking
statements.
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SOURCE BAIYU Holdings, Inc.