TD Holdings, a commodities trading service provider, offered to acquire a majority stake in Xinjiang Dede Xinyuan Environmental Protection Technology, an environmental management company specialized in tailings treatment and control solutions. Financial terms were not disclosed. "We are thrilled to announce the LOI for the proposed acquisition of XDX. As a prominent B2B e-commerce commodities trading service provider and supply chain service provider in China, the Company is expected to further strengthen its advantages in the mineral trading business and the integration of the industry resources upon the completion of the proposed acquisition. The comprehensive recycling of asbestos tailings is not only instrumental for reducing waste of resources to enhance resource recycling, but also beneficial for preventing environmental pollution and promoting social harmony. It is of great significance for the transformation, optimization and upgrading of the economic structure of resource-based cities by pursuing the development of a recycling economy, that is, a virtuous circle of 'reduction, high efficiency, reuse and recycling'," Renmei Ouyang, TD Holdings CEO.