SHENZHEN, China, April 9, 2021 /PRNewswire/ -- TD Holdings,
Inc. (Nasdaq: GLG) (the "Company"), a commodities trading
service provider in China, today announced that it has
received a Notice from the NASDAQ Stock Market on April 5, 2021 notifying the Company that, because
its Form 10-K for the fiscal year ended December 31, 2020 (the "2020 10-K") was not filed
with the Securities and Exchange Commission by the required due
date of March 31, 2021, the Company
is therefore not in compliance with the periodic filing
requirements for continued listing set forth in NASDAQ Listing Rule
5250(c)(1).
This Notice received has no immediate effect on the listing or
trading of the Company's shares. As previously disclosed on the
Company's Form 8-K and 8-K/A filed on March
29 and March 31, 2021,
respectively, the Company's audit committee, after consultation
with the Company's management concluded, that the Company's audited
financial statements at and for the periods ended March 31, 2020, June 30,
2020, and September 30, 2020
contained in the Company's Quarterly Reports on Form 10-Q should no
longer be relied upon. Nasdaq has provided the Company with 60
calendar days, until June 4, 2021 to
submit a plan to regain compliance. The compliance plan is required
to provide a summary of the independent investigation into the
reasons that led to the Company's conclusion that the previously
filed financials should no longer be relied upon. If Nasdaq accepts
the Company's plan, then Nasdaq may grant the Company up to 180
days from the prescribed due date for the filing of the 10-K for
fiscal year ended December 31, 2020,
or September 27, 2021, to regain
compliance.
The Company expects and intends to submit to NASDAQ the
compliance plan by June 4, 2021.
This announcement is made in compliance with Nasdaq Listing Rule
5810(b), which requires prompt disclosure of receipt of a
deficiency notification.
About TD Holdings, Inc.
TD Holdings, Inc. is a service provider currently engaging in
commodity trading business and supply chain service business in
China. Its commodities trading
business primarily involves purchasing non-ferrous metal product
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.
Safe Harbor Statement
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. 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.
For more information, please contact:
Investor Relations:
Dong Cao
EverGreen Consulting Inc.
Email: IR@changqingconsulting.com
Phone: +86 13502048965
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SOURCE TD Holdings, Inc.