{"id":18530,"date":"2023-05-12T20:30:00","date_gmt":"2023-05-12T20:30:00","guid":{"rendered":"https:\/\/www.prnasia.com\/story\/archive\/4098759_CN98759_0"},"modified":"2023-05-12T20:30:00","modified_gmt":"2023-05-12T20:30:00","slug":"td-holdings-inc-reports-first-quarter-2023-financial-results","status":"publish","type":"post","link":"https:\/\/transmediavictoria.net.au\/?p=18530","title":{"rendered":"TD Holdings, Inc. Reports First Quarter 2023 Financial Results"},"content":{"rendered":"
\n

SHENZHEN, China<\/span>, May 13, 2023 \/PRNewswire\/ — TD Holdings, Inc. (Nasdaq: GLG) (the “Company”), a commodities trading service provider in China, today announced its unaudited financial results for the first quarter ended March 31, 2023<\/span>.<\/span><\/p>\n

Ms. Renmei Ouyang, the Chief Executive Officer of the Company, stated, “We continued to provide unparalleled services to our clients and explore new partnerships to address the market opportunities in the first quarter of fiscal year 2023. In the remaining of 2023, we will continue to execute our development plan to expand our business scale and improve our brand awareness. We will remain focus on the optimization of our commodities trading business and supply chain service business to expand our client base. We believe our dedicated and experienced team is our foundation to separate us from other competitors and enhance our competitive market position. With the rapid resumption of business activities, we expect to actively explore new corporations, provide high-quality services to best serve our clients’ demand and generate additional revenue sources. In addition to the growth plan, we expect to improve our efficiency by implementing necessary measures. We remain confident about our future prospects with our long-term development strategy on seeking growth opportunities in our business.”<\/p>\n

First Quarter 2023 Financial Highlights<\/b><\/p>\n

Total revenue was $34.58 million, consisting of $34.57 million from sales of commodity products, and $0.01 million from supply chain management services for the quarter ended March 31, 2023<\/span>, a decrease of 28% from $48.16 million<\/span> for the same quarter ended March 31, 2022<\/span>.<\/p>\n

Net income was $0.45 million<\/span> for the quarter ended March 31, 2023<\/span>, compared with $1.59 million<\/span> for the same quarter ended March 31, 2022<\/span>.<\/p>\n

Basic and diluted earnings per share were $0.00<\/span> respectively, for the quarter ended March 31, 2023<\/span>, compared with $0<\/span>.04 for the same quarter ended March 31, 2022<\/span>.<\/p>\n

First Quarter 2023 Financial Results<\/b><\/p>\n

Revenues<\/b><\/p>\n

For the quarter ended March 31, 2023<\/span>, the Company sold non-ferrous metals to 14 third-party customers at fixed prices, and earned revenues when the product ownership was transferred to its customers. The Company earned revenues of $34.57 million<\/span> from sales of commodity products for the quarter ended March 31, 2023<\/span>, compared with $47.58 million<\/span> for the same quarter ended March 31, 2022<\/span>.<\/p>\n

For the quarter ended March 31, 2023<\/span>, the Company recorded revenue of $0.01 million<\/span> from supply chain management services to third-party customers, compared with $0.58 million<\/span> to third-party vendors for the same quarter ended March 31, 2022<\/span>.<\/p>\n

Cost of Revenue<\/b><\/p>\n

Cost of revenue primarily includes cost of revenue associated with commodity product sales and cost of revenue associated with management services of supply chain. Total cost of revenue decreased by $12.95 million<\/span>, or 27% to $34.65 million<\/span> for the quarter ended March 31, 2023<\/span>, from $47.60 million<\/span> for the same quarter ended March 31, 2022<\/span>, primarily due to the decrease in the cost of revenue associated with commodity product sales.<\/p>\n

Selling, General, and Administrative Expenses<\/b><\/p>\n

Selling, general and administrative expenses increased by $0.50 million<\/span> or 22%, to $2.74 million<\/span> for the quarter ended March 31, 2023<\/span>, from $2.25 million<\/span> for the same quarter ended March 31, 2022<\/span>. Selling, general and administrative expenses primarily consisted of salary and employee benefits, office rental expenses, amortizations of intangible assets and convertible promissory notes, professional service fees and finance offering related fees. The increase was mainly attributable to the amortization of intangible assets of $2.05 million<\/span>, as the company acquired a software copyright of the original amount of RMB300 million in connection with the contractual arrangement with Shenzhen Tongdow Internet Technology Co., Ltd. on October 25, 2022, which contributed $1.10 million to selling, general, and administrative expenses for the three months ended March 31, 2022.<\/p>\n

Interest Income<\/b><\/p>\n

Interest income was primarily generated from loans made to third parties and related parties. Interest income increased by $0.06 million<\/span> or 1%, to $4.45 million<\/span> for the quarter ended March 31, 2023<\/span>, from $4.39 million<\/span> for the same quarter ended March 31, 2022<\/span>.<\/p>\n

Amortization of Beneficial Conversion Feature and Relative Fair Value of Warrants Relating to the Issuance of Convertible Promissory Notes  <\/b><\/p>\n

For the quarter ended March 31, 2023<\/span>, the item represented the amortization of beneficial conversion feature of $0.22 million<\/span> of two convertible promissory notes issued on May 6, 2022<\/span> and March 13, 2023<\/span>.<\/p>\n

For the same quarter ended March 31, 2022<\/span>, the item represented the amortization of beneficial conversion feature of $0.21 million<\/span> of three convertible promissory notes issued on January 6, 2021<\/span>, March 4, 2021<\/span> and October 4, 2021<\/span>.<\/p>\n

Net Income<\/b><\/p>\n

Net income was $0.45 million<\/span> for the quarter ended March 31, 2023<\/span>, compared with $1.59 million<\/span> for the same quarter ended March 31, 2022<\/span>.<\/p>\n

Three Months Ended March 31<\/span>, 2023 Cash Flows<\/b><\/p>\n

As of March 31, 2023, the Company had cash and cash equivalents of $1.98 million, as compared with $0.89 million as of December 31, 2022.<\/p>\n

Net cash provided by operating activities was $2.77 million for the quarter ended March 31, 2023<\/span>, compared with $3.75<\/span> million for the same quarter ended March 31, 2022<\/span>.<\/p>\n

Net cash used in investing activities was $46.69 million for the quarter ended March 31, 2023<\/span>, compared with $50.00 million for the same quarter ended March 31, 2022<\/span>.<\/p>\n

Net cash provided by financing activities was $45.91 million for the quarter ended March 31, 2023<\/span>, compared with $45.50 million for the same quarter ended March 31, 2022<\/span>.<\/p>\n

About TD Holdings, Inc.<\/b><\/p>\n

TD Holdings, Inc. is a service provider currently engaging in the commodities trading business and supply chain service business in China<\/span>. Its commodities trading business primarily involves purchasing non-ferrous metal products from upstream metal and mineral suppliers and then selling to downstream customers. Its supply chain service business primarily has served as a one-stop commodity supply chain service and digital intelligence supply chain platform integrating upstream and downstream enterprises, warehouses, logistics, information, and futures trading. For more information, please visit http:\/\/ir.tdglg.com<\/a>.<\/p>\n

Safe Harbor Statement<\/b><\/p>\n

This press release may contain certain “forward-looking statements” relating to the business of TD Holdings, Inc. 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, involve 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: there is uncertainty about the spread of the COVID-19 virus and the impact it will have on the Company’s operations, the demand for the Company’s products and services, global supply chains and economic activity in general. 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 <\/i>http:\/\/www.sec.gov<\/a><\/i>. 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<\/i>.<\/p>\n

For more information, please contact:<\/b><\/p>\n

Ascent Investor Relations LLC
Ms. Tina Xiao<\/span>
Email:tina.xiao@ascent-ir.com<\/a> 
Tel: +1 917 609 0333<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

TD HOLDINGS, INC.<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

As of March 31, 2023 and December 31, 2022<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

(Expressed in U.S. dollars, except for the number of shares)<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n\n

March 31,<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

December 31,<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n\n

2023<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

2022<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

ASSETS<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Current Assets<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Cash and cash equivalents<\/span><\/p>\n<\/td>\n

<\/td>\n\n

$<\/span><\/p>\n<\/td>\n

\n

1,981,012<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

$<\/span><\/p>\n<\/td>\n

\n

893,057<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Loans receivable from third parties<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

191,630,240<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

143,174,634<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Other current assets<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

4,991,860<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

4,040,477<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Inventories, net<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

415,718<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

458,157<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Total current assets<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

199,018,830<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

148,566,325<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Non-Current Assets<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Plant and equipment, net<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

5,239<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

6,370<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Goodwill<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

162,379,512<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

160,213,550<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Intangible assets, net<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

52,803,772<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

54,114,727<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Right-of-use assets, net<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

168,458<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

196,826<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Total non-current assets<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

215,356,981<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

214,531,473<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Total Assets<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n\n

$<\/b><\/span><\/p>\n<\/td>\n

\n

414,375,811<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

$<\/b><\/span><\/p>\n<\/td>\n

\n

363,097,798<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

LIABILITIES AND EQUITY<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Current Liabilities<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Accounts payable<\/span><\/p>\n<\/td>\n

<\/td>\n\n

$<\/span><\/p>\n<\/td>\n

\n

–<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

$<\/span><\/p>\n<\/td>\n

\n

1,269<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Bank borrowings<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

1,018,671<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

1,005,083<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Third party loans payable<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

472,842<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

460,587<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Contract liabilities<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

18,395<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

437,148<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Income tax payable<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

12,835,992<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

11,634,987<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Lease liabilities<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

109,977<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

116,170<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Other current liabilities<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

5,654,669<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

5,348,646<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Convertible promissory notes<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

4,635,456<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

4,208,141<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Total current liabilities<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

24,746,002<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

23,212,031<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Non-Current Liabilities<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Due to related party<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

39,291,587<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

38,767,481<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Deferred tax liabilities<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

2,907,489<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

3,059,953<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Lease liabilities<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

62,396<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

84,164<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Total non-current liabilities<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

42,261,472<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

41,911,598<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Total liabilities<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

67,007,474<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

65,123,629<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Commitments and Contingencies (Note 16)<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Equity<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Common stock (par value $0.001 per share, 600,000,000 shares authorized;
144,841,328 and 106,742,117 shares issued and outstanding as of March 31, 2023
and December 31, 2022, respectively)*<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

144,841<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

106,742<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Additional paid-in capital<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

390,154,966<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

344,295,992<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Statutory surplus reserve<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

2,602,667<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

2,602,667<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Accumulated deficit<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

(37,950,132)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

(38,800,375)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Accumulated other comprehensive income<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

(5,939,107)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

(8,984,925)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Total TD Shareholders’ Equity<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

349,013,235<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

299,220,101<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Non-controlling interest<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

(1,644,898)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

(1,245,932)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Total Equity<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

347,368,337<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

297,974,169<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Total Liabilities and Equity<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n\n

$<\/b><\/span><\/p>\n<\/td>\n

\n

414,375,811<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

$<\/b><\/span><\/p>\n<\/td>\n

\n

363,097,798<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/tr>\n
\n

* Retrospectively restated due to five for one Reverse Stock Split, see Note 12 – Reverse stock split of common stock.<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

TD HOLDINGS, INC.<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

COMPREHENSIVE INCOME (LOSS)<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

For the Three Months Ended March 31, 2023 and 2022<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

(Expressed in U.S. dollars, except for the number of shares)<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n\n

For the Three Months
Ended
March 31,<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n\n

2023<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

2022<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Revenues<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

    -\u202fSales of commodity products \u2013 third parties<\/span><\/p>\n<\/td>\n

<\/td>\n\n

$<\/span><\/p>\n<\/td>\n

\n

34,571,288<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

$<\/span><\/p>\n<\/td>\n

\n

47,583,965<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

    -\u202fSupply chain management services \u2013 third parties<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

6,350<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

575,151<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Total revenue<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

34,577,638<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

48,159,116<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Cost of revenues<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

    -\u202fCommodity product sales-third parties<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

(34,653,239)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

(47,590,576)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

    -\u202fSupply chain management services-third parties<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

(40)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

(11,602)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Total operating costs<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

(34,653,279)<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

(47,602,178)<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Gross (loss)\/profit<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

(75,641)<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

556,938<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Operating expenses<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Selling, general, and administrative expenses<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

(2,743,061)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

(2,247,707)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Total operating expenses<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

(2,743,061)<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

(2,247,707)<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Net Operating Loss<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

(2,818,702)<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

(1,690,769)<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Other income (expenses), net<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Interest income<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

4,449,000<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

4,390,341<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Interest expenses<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

(109,987)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

(110,326)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Amortization of beneficial conversion feature relating to issuance of convertible
promissory notes<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

(220,652)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

(213,367)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Other income, net<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

4,523<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

95,709<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Total other income, net<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

4,122,884<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

4,162,357<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Net income before income taxes<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

1,304,182<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

2,471,588<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Income tax expenses<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

(852,905)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

(877,731)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Net income<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

451,277<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

1,593,857<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Less: Net loss attributable to non-controlling interests<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

(398,966)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

–<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Net income attributable to TD Holdings, Inc.’s Stockholders<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

850,243<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

1,593,857<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Comprehensive Income<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Net income<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

451,277<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

1,593,857<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Foreign currency translation adjustments<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

3,045,818<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

881,196<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Comprehensive Income<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n\n

$<\/b><\/span><\/p>\n<\/td>\n

\n

3,497,095<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

$<\/b><\/span><\/p>\n<\/td>\n

\n

2,475,053<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Less: Total comprehensive loss attributable to non-controlling interests<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

(398,966)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

–<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Comprehensive income attributable to TD Holdings, Inc.’s Stockholders<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n\n

$<\/b><\/span><\/p>\n<\/td>\n

\n

3,896,061<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

$<\/b><\/span><\/p>\n<\/td>\n

\n

2,475,053<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Income per share – basic and diluted<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Continuing Operation- income per share \u2013 basic*<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n\n

$<\/b><\/span><\/p>\n<\/td>\n

\n

0.00<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

$<\/b><\/span><\/p>\n<\/td>\n

\n

0.04<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Continuing Operation- income per share \u2013diluted*<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n\n

$<\/b><\/span><\/p>\n<\/td>\n

\n

0.00<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

$<\/b><\/span><\/p>\n<\/td>\n

\n

0.04<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Weighted Average Shares Outstanding-Basic*<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

140,045,132<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

39,688,232<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Weighted Average Shares Outstanding- Diluted*<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

148,121,900<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

42,710,590<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/tr>\n
\n

*  Retrospectively restated due to five for one Reverse Stock Split, see Note 12 – Reverse stock split of common stock<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n

 <\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

TD HOLDINGS, INC.<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

For the Three Months Ended March 31, 2023 and 2022<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

(Expressed in U.S. dollar)<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n\n

For the Three Months<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Ended March 31,<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n\n

2023<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

2022<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Cash Flows from Operating Activities:<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Net income<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n\n

$<\/span><\/p>\n<\/td>\n

\n

451,277<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

$<\/span><\/p>\n<\/td>\n

\n

1,593,857<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Adjustments to reconcile net income to net cash used in operating activities:<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Depreciation of plant and equipment<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

1,215<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

3,217<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Amortization of intangible assets<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

2,049,732<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

1,029,186<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Amortization of right of use assets<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

30,846<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

76,983<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Amortization of discount on convertible promissory notes<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

93,333<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

111,000<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Interest expense for convertible promissory notes<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

101,330<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

93,285<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Amortization of beneficial conversion feature of convertible promissory notes<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

220,652<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

213,367<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Monitoring fee relating to convertible promissory notes<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

–<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

69,685<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Deferred tax liabilities<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

(194,515)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

(209,744)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Inventories impairment<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

(17,229)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

–<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Escrow account receivable<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

–<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

(54,985)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Inventories<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

66,033<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

(133,810)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Other current assets<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

(24,222)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

(29,775)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Prepayments<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

447,960<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

(1,891,842)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Contract liabilities<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

(426,158)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

1,900,456<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Due to related parties<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

–<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

(21,259)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Due from third parties<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

(628,474)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

(481,816)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Due from related parties<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

(685,488)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

28,897<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Accounts payable<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

(1,291)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

(116,078)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Income tax payable<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

1,047,382<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

1,085,694<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Other current liabilities<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

259,083<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

499,661<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Lease liabilities<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

(30,476)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

(19,734)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Due to third party loans payable<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

6,050<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

6,523<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Net cash provided by operating activities<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

2,767,040<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

3,752,768<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Cash Flows from Investing Activities:<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Purchases of plant and equipment<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

–<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

(5,039)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Purchases of operating lease assets<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

–<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

(58,617)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Loans made to third parties<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

(46,678,620)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

(60,177,853)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Collection of loans from related parties<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

–<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

11,066,822<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Investments in other investing activities<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

(10,707)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

(828,601)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Net cash used in investing activities<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

(46,689,327)<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

(50,003,288)<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Cash Flows from Financing Activities:<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Proceeds from issuance of common stock under ATM transaction<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

559,073<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

–<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Proceeds from issuance of common stock under private placement transactions<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

42,350,000<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

45,500,000<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Proceeds from convertible promissory notes<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

3,000,000<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

–<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Net cash provided by financing activities<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

45,909,073<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

45,500,000<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Effect of exchange rate changes on cash and cash equivalents<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

(898,831)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

13,794<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Net increase\/(decrease) in cash and cash equivalents<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

1,087,955<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

(736,726)<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Cash and cash equivalents at beginning of period<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

893,057<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n\n

4,311,068<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Cash and cash equivalents at end of period<\/span><\/p>\n<\/td>\n

<\/td>\n\n

$<\/span><\/p>\n<\/td>\n

\n

1,981,012<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

$<\/span><\/p>\n<\/td>\n

\n

3,574,342<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Supplemental Cash Flow Information<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Cash paid for interest expenses<\/span><\/p>\n<\/td>\n

<\/td>\n\n

$<\/span><\/p>\n<\/td>\n

\n

19,934<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

$<\/span><\/p>\n<\/td>\n

\n

22,109<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Cash paid for income taxes<\/span><\/p>\n<\/td>\n

<\/td>\n\n

$<\/span><\/p>\n<\/td>\n

\n

–<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

$<\/span><\/p>\n<\/td>\n

\n

1,781<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Supplemental disclosure of Non-cash investing and financing activities<\/b><\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Right-of-use assets obtained in exchange for operating lease obligations<\/span><\/p>\n<\/td>\n

<\/td>\n\n

$<\/span><\/p>\n<\/td>\n

\n

–<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

$<\/span><\/p>\n<\/td>\n

\n

58,617<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

Issuance of common stocks in connection with conversion of convertible promissory
    notes<\/span><\/p>\n<\/td>\n

<\/td>\n\n

$<\/span><\/p>\n<\/td>\n

\n

2,988,000<\/span><\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

$<\/span><\/p>\n<\/td>\n

\n

1,804,820<\/span><\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/p><\/div>\n

Source: TD Holdings, Inc.<\/p>\n","protected":false},"excerpt":{"rendered":"

SHENZHEN, China, May 13, 2023 \/PRNewswire\/ — TD Holdings, Inc. (Nasdaq: GLG) (the “Company”), a commodities trading service provider in China, today announced its unaudited financial results for the first quarter ended March 31, 2023. Ms. Renmei Ouyang, the Chief Executive Officer of the Company, stated, “We continued to provide unparalleled services to our clients and explore new partnerships to address […]<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-18530","post","type-post","status-publish","format-standard","hentry","category-business-news"],"yoast_head":"\nTD Holdings, Inc. 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