TD Holdings, Inc. Enters into a Strategic Cooperation Agreement to Develop Energy Storage Battery Project in Southeast Asia; The Anticipated Annual Capacity Gain Of The Project Is Expected To Reach $412m
Portfolio Pulse from Happy Mohamed
TD Holdings, Inc. (NASDAQ:GLG) has entered into a strategic cooperation agreement with Shenzhen Jintongyuan Energy Storage Technology Co., Ltd. to develop a storage battery project in Southeast Asia. The project is expected to generate an annual capacity gain of $412 million. Both parties will establish a joint venture named Baiyu Energy Storage Technology Co. Ltd. in China, with TD Holdings holding a 51% equity interest and Jintongyuan holding a 49% equity interest.
August 28, 2023 | 12:33 pm
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TD Holdings' partnership with Jintongyuan to develop a storage battery project in Southeast Asia could significantly boost the company's gain and performance in the future.
The partnership with Jintongyuan allows TD Holdings to enter the renewable energy storage battery market in Southeast Asia, which could significantly increase its revenues. The company's 51% equity interest in the joint venture also gives it control over the project's marketing and sales, further enhancing its potential profitability.
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