Bat Group Announces Corporate Name Change to TD Holdings, Inc. to Reflect its Focus on its Commodity Trading Business
BEIJING, March 12, 2020 /PRNewswire/ -- Bat Group, Inc. (Nasdaq: GLG) (the "Company"), announced today that that the Company has changed its name to TD Holdings, Inc., with an estimated marketplace effective date of March 13, 2020.
The Company had initially changed its name in 2019 from China Commercial Credit, Inc. to Bat Group, Inc. to better reflect our business since we became a used luxurious car leasing business operating in China after the disposition of our micro-lending business in July 2018.
In November 2019, the Company began the process of expanding its business to include commodities trading and officially entered into the commodities trading business in January 2020. So as to avoid any negative effects due to the Company's current name, the board of directors of the Company have decided to change the Company's name to TD Holdings, Inc., which better represents our current focus on the new commodities trading business. The letter "T" in the name representing Chinese character for "Bronze", indicating the Company's focus on the commodities trading business, and particularly on the trading of nonferrous metals such as bronze as the main direction of the Company's business in the future.
About Bat Group, Inc.
Bat Group, Inc. (Nasdaq: GLG) is a used luxurious car rental and commodities trading service provider in China. The used luxurious car business is conducted under the brand name "BatCar" by the Company's VIE entity, Tianxing Kunlun Technology Co. Ltd, from its headquarters in Beijing. The commodities trading business is conducted under the brand name "Huamucheng" by the Company's VIE entity, Shenzhen Huamucheng Trading Co., Ltd. For more information please visit https://www.imbatcar.com.
Safe Harbor Statement
This press release may contain certain "forward-looking statements" relating to the business of Bat Group, 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. 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.
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