TD Holdings to acquire Qianhai Baiyu Supply Chain for $96m.

TD Holdings, a used luxurious car leasing services provider, agreed to acquire Qianhai Baiyu Supply Chain, a logistics services provider, for $96m. "The acquisition of Baiyu has laid a solid foundation for TD Holdings to enter the commodity supply chain field. The platform will establish a quantitative risk management system with ETL as the core, and then optimize trading portfolios by incorporating a combination of various factors and strategies in order to effectively control risks and sustain business development. As a part of the company's growth plan, we will consider opening branches and business offices in Shanghai, Tianjin, Wuhan, Chengdu, Ningbo, Kunming, Xi'an, Foshan, Guangzhou, Hong Kong China and other oversea countries like Singapore, Malaysia, Dubai, UK, Russia to cover international ground," TD Holdings CEO.