December 15, 2020 SHENZHEN, China, Dec. 15, 2020 /PRNewswire/ -- TD Holdings, Inc. (Nasdaq: GLG) (the "Company"), a commodities trading service provider in China today announced that it has entered into a non-binding letter of intent ("LOI") to acquire Tongdow E-Commerce Group Co., Ltd. ("Tongdow "), a B2B digital e-commerce platform for commodities trading and integrated supply chain services headquartered in Shenzhen China. Pursuant to the terms of the LOI, the Company will acquire control and economic interest of Tongdow pursuant to certain VIE arrangements and the equity owners of Tongdow shall receive a combination of restricted shares and cash payment as consideration. As the transaction proceeds, the Company will publicly disclose required information either through press releases or SEC filings, as appropriate.