Tag Archives: SCL

PR Newswire

CARGOBASE ACHIEVES ISO 27001 CERTIFICATION

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The company is recognized for its commitment towards maintaining best practices for information security management systems

SINGAPORE, June 3, 2022 /PRNewswire/ — CARGOBASE, the global logistics tech platform for enterprise shippers, announced today that it has achieved ISO 27001 certification; a certification that recognizes proven commitment towards maintaining and protecting information security. The certification was issued by TÜV SÜD following an extensive audit process.

CARGOBASE, the global logistics tech platform for enterprise shippers, announced today that it has achieved ISO 27001 certification.
CARGOBASE, the global logistics tech platform for enterprise shippers, announced today that it has achieved ISO 27001 certification.

To achieve the ISO 27001 certification, organizations must demonstrate a systematic and documented approach to protecting and managing sensitive company and customer information, including intellectual property, employee and customer data, financial information and information entrusted to it by third parties.

“Receiving the ISO 27001 certification is a significant accomplishment for Cargobase that demonstrates our commitment to, and prioritization of, security management controls for our customers, partners and team members,” said Gert-Jan Spriensma, Chief Technology Officer at Cargobase. “As more enterprises look to process sensitive and confidential business data with cloud-based services like Cargobase, it’s critical they do so in a way that ensures their data will remain safe. Our customers carry this responsibility every single day, and it’s important that the vendors they select to process their data in the cloud approach that responsibility in the same way”, Spriensma continues.

ISO 27001 is a globally recognized standard mandating numerous controls for the establishment, maintenance, and certification of an Information Security Management System (ISMS). Cargobase received the certification upon its first ISO attempt, showcasing the completeness and rigor of its information security program.

About Cargobase

Cargobase is a Singapore headquartered enterprise software company offering a transport management system for contracted and non-contracted freight. Its solution supports global inbound and outbound logistics flows, including project, production and non-production supply chains. Cargobase’s land and expand approach gives the customers a solution that works in weeks, integrated or as a standalone solution, and delivers immediate ROI. The company was founded in Singapore, in 2013 and has since established offices in The Netherlands, United States and India. Its customer base is primarily large listed companies across industries using Cargobase on a daily basis across 55 countries.

PR Newswire

QIMA Joins the United Nations Global Compact Initiative

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HONG KONG, May 16, 2022 /PRNewswire/ — QIMA, a leading provider of quality control and supply chain compliance solutions is pleased to announce their participation in the United Nations Global Compact initiative — a voluntary leadership platform for the development, implementation and disclosure of responsible business practices.

With this announcement, QIMA is proud to join thousands of other companies globally committed to taking responsible business action to create the world people want.

“At QIMA, our mission is to help our clients make products consumers can trust. A large part of that pertains to assessing the social and environmental footprint of consumer goods and food that end up on retail shelves; hence, it is only natural that we also commit to improving our own internal sustainability practices and live by the principles we help our clients enforce,” shares Sebastien Breteau, QIMA founder and CEO. “By communicating our commitment and best practices through UN Global compact’s principles, we are imposing on ourselves to be a positive contributor for a more sustainable global trade environment.”

The UN Global Compact is a call to companies everywhere to align their operations and strategies with ten universally accepted principles in the areas of human rights, labor, environment and anti-corruption, and to take action in support of UN goals and issues embodied in the Sustainable Development Goals (SDGs).

Launched in 2000, the UN Global Compact is the largest corporate sustainability initiative in the world, with more than 9,500 companies and 3,000 non-business signatories based in over 160 countries, and more than 70 Local Networks.

About QIMA
At QIMA we are on a mission to offer our clients smart solutions to make products consumers can trust. We combine on-the-ground experts for quality inspections, supplier audits, certification, and lab testing, with a digital platform that brings accuracy, visibility, and intelligence for quality and compliance data. We operate in 95 countries and help more than 17,000 global brands, retailers, manufacturers, and food growers achieve quality excellence.

Media Contact
Courtney Terrey
Director of Communications, QIMA
+852 3165 8838
press@qima.com

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/qima-joins-the-united-nations-global-compact-initiative-301546712.html

PR Newswire

LinkieBuy has formally launched its plan to introduce 100 Japanese retail merchants to the Chinese market

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HANGZHOU, China, April 26, 2022 /PRNewswire/ — LinkieBuy, a comprehensive cross-border e-commerce service provider in China, recently conducted an internal conference and declared publicly its intention to recruit 100 Japanese retail merchants to China market. The strategy focuses on the cross-border digital business of Japanese offline retailers, travel retail stores, duty-free stores, and other related industry merchants. The business includes cross-border mini program malls within the WeChat ecology, online marketing for e-commerce operations, cross-border warehousing and logistics, private domain core user repurchase, and other related cross-border businesses to China.

Chinese customers’ thirst for Japanese items has increased as a result of the pandemic, particularly during the Beijing Winter Olympics. The quick shift in consumption channel direction has resulted in a rise in cross-border internet channel penetration from China to Japan. The extension of the idea of imported DTC consumption to China has led to the rapid creation of the cross-border independent online store model, which is more favorable than traditional cross-border platforms, in the current wave of cross-border e-commerce tidal. Among them, the independent online store type cross-border e-commerce represented by the WeChat mini program mall within the ecology of WeChat, China’s largest social media APP, is gaining popularity with Japanese businesses.

“This year, we will increase our efforts to expand cooperation with Japanese offline retail merchants, ensure merchants’ sales in China through online mall building support, WeChat clients traffic support, B2B distribution channel support, and assist more Japanese offline retailers to realize digital transformation in China market,” said Simon Qi, general director of LinkieBuy and vice president of Xingyun Group.

Numerous Japanese companies have done business with China since the RCEP was implemented, resulting in increasing rivalry for product sales in China. LinkieBuy is a leading Chinese consumer goods digital supply chain service platform focused on assisting Japanese offline retail merchants in selling directly to Chinese consumers via the WeChat ecosystem. We aim to create more sales value for customers through years of accumulated digital cross-border operation capabilities.

It is reported that LinkieBuy has already partnered with more than 100 well-known Japanese retailers, including Seibu and Sogo Stores, KOMEHYO, Daimaru Matsuzakaya Department Stores, and Tsuruha. It offers Japanese offline shops in China cross-border digital transformation services such as WeChat mini program mall building, cross-border warehousing, logistics solutions, and online mall administration. It helps a variety of merchants access the Chinese market swiftly and we possess rich experience in how Japanese offline retailers doing e-commerce business in China.

Simon explained, “After the official launch of this Japanese 100 retail merchants to China introduction program. We will hold regular monthly online seminars for the Japanese market to explain the export policy to China, sales method of online business into China, cross-border mini program mall operation strategy, WeChat marketing skills, and other knowledge. Retailers who are interested in it can contact us via our official website or email.”

CONTACT: Hongting Chen, +86-19357597595, chen.hongting@xyb2b.com 

PR Newswire

First-of-its-kind study reveals gaps in knowledge and attitude to conquer supply chain complexities

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HAMBURG, Germany, April 12, 2022 /PRNewswire/ — End-to-end digitization is a top priority for supply chain professionals, according to the Körber Supply Chain Benchmarking Report 2022 to examine industry best practices to advance operational performance.

Digitization and process automation is the highest priority for 84% of all businesses.
Digitization and process automation is the highest priority for 84% of all businesses.

Awareness of the external factors driving supply chain complexity is high. Yet, there is room for improvement in implementing measures to increase customer satisfaction, labor efficiency, or process automation. This is the conclusion of Körber’s Supply Chain Benchmarking Report, according to which a majority of businesses struggle with the rapid expansion of e-commerce and increasing interconnectivity of the global economy.

The results, based on a representative survey among more than 200 companies, shed unparalleled insight into key challenges in the industry, as well as best practices to improve supply chain performance and operation. The survey found that digitization is a strategic priority for 84% of surveyed businesses; however, only a minority uses automated, paperless end-to-end processes throughout their supply chain. Displaying the relevance of (cross-site) management software, employee engagement tactics (e.g. voice), or sustainability concerns, the report serves as an important resource for supply chain professionals to identify where they are performing well – and where there is greatest potential for improvement.

“The research demonstrates that companies recognize increasing supply chain complexities and are acting to leverage the potential of the digital era. There is a growing awareness that many challenges can be overcome, and a competitive advantage gained, with supply chain technology. 35% identified as leaders perform outstandingly well through investing in employee engagement, concrete implementation plans for sustainable practices and through advanced levels of digitization with consistent process automation,” says Rene Hermes, Executive Vice President and Chief Marketing Officer at Körber Supply Chain – Software.

Körber’s Supply Chain Benchmarking Report 2022 was divided into six operational areas: Labor engagement, efficiency and safety, end customer experience, sustainability, agility and resilience, digitization and process automation and facility optimization. Based on this, participating companies were grouped into the following maturity levels: leader, advanced, developing and initiating. Of this, 35% were identified as “leaders” (top performers), differentiated with future-proof processes.  

Key results from the Körber Supply Chain Benchmarking Report 2022:

  • Two thirds of supply chain executives are not satisfied with their staffing levels. As a result, gamification and other technologies to increase employee engagement are being deployed on a wider scale among 73% of leaders.
  • 92% of respondents see a direct influence of customer satisfaction on supply chain performance. This explains why order management systems (OMS) are on the rise. These solutions directly impact the accuracy, speed and cost of fulfillment. All leaders in this category use an OMS, whereas this is the case for just more than half of advanced businesses.
  • Sustainability is especially important – a top priority for 89% of businesses. Leading companies are three times more likely to shift to more sustainable packaging materials and four times more likely than advanced companies to implement circular economy projects.
  • Digitization and process automation is the highest priority for 84% of all businesses. Within this operative area, 59% of leaders can implement projects with in-house resources compared to just 23% of advanced businesses.

“While the industry agrees that supply chain complexity is real and growing, there is often no clear understanding of its underlying causes and of suitable initiatives that can improve performance in today’s challenging and ultra-volatile markets. Everyone is looking for agility and resilience, but there is none of that possible without identifying the true levers within your own global supply chain operations. The benchmarking survey we conducted on behalf of Körber is the first to leverage the key factors driving complexity to answer these questions and determine what practices distinguish leading organizations,” adds Sebastian Feldmann, Partner and global Co-head of the Supply Chain & Logistics COE at Roland Berger Management Consultants.

The survey questioned more than 200 companies in North America and Europe with at least 500 employees and is part of a broader research initiative in cooperation with leading international analysts. Full findings are available at benchmarking.koerber-supplychain.com. The site also offers a rapid self-assessment to provide visitors a first view into the maturity of their own supply chain operations.

About the Körber Business Area Supply Chain

Supply chains are growing more complex by the day. Körber uniquely provides a broad range of proven, end-to-end supply chain solutions fitting any business size, strategy or appetite for growth. Capable of delivering software, automation, voice, robotics, and materials handling – plus the expertise to tie it all together. We are a global partner not just for today, but also as the needs of supply chains continue to evolve. Conquer supply chain complexity – with Körber. The Business Area Supply Chain is part of the global technology group Körber. Find out more on www.koerber-supplychain.com  

Contact:

Heather Smith

Director Corporate Communications

Körber Supply Chain

Heather.smith@koerber-supplychain.com

T +1 800 3283271
PR Newswire

VisionNav Robotics debuts at the MODEX 2022 with the Innovative AGV/AMR Forklifts

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ATLANTA, March 31, 2022 /PRNewswire/ — VisionNav Robotics, a global supplier of industrial automated vehicles, attends the MODEX show held in Atlanta from 3/28 to 3/31, 2022, begins its appearance in the North American market. VisionNav has displayed the representative automated industrial vehicle forklift of the industry to drive intralogistics automation with intelligent technology.

MODEX is one of the largest material handling or supply chain equipment and technology exhibitions in North America. This exhibition focuses on “next-generation technology and equipment”, attracting nearly 1,000 companies. For now, MODEX has become an important communication platform in the field of global logistics automation.

At the MODEX 2022 site, VisionNav demonstrated the applications of the VNP15 counterbalanced automated forklift in the stacking scenario of multi-layer material frames, and the material handling operation of the SLIM series forklifts in a dense narrow aisle scenario. “Many companies talked to us about the shortage of forklift operators and the possibility of introducing automated forklift operations affected by the epidemic. Our products have plenty of experience based on a large number of applications in complex scenarios and have unique advantages in terms of efficiency, flexibility, and storage capacity.” Said Robert Tang, Head of Sales USA at VisionNav. It should be noted that multi-layer frame stacking is an innovative solution launched by VisionNav for irregular parts storage, which can currently deal with stacking scenarios of up to 7 layers

Based on VisionNav® control algorithm and perception technology, VNP15 and SLIM series can adaptively fork pallets and material frames for horizontal and vertical operations. “We have also developed a variety of clamps to meet the material handling demand of customers in different industries, from simple pallets to bales, paper rolls, machinery, cables, and so on.”

Founded in 2016, VIsionNav® is committed to providing AGVs/AMRs and Automation Solutions for intralogistics by integrating 5G Communication, AI, Environmental Perception, Deep Learning, and Servo Control technology. At present, VisionNav has developed 8 series of products including auto forklifts and tractors for various scenarios. Meanwhile, VisionNav has made significant breakthroughs such as achieving up to 9.4m(30ft) material storage, up to 2m(6.5ft) narrow aisles transmitting, automated truck loading and unloading, multi-layer materials stacking. VisionNav Sold 1500+ products globally implemented 350+ projects and reached cooperation with 50+ Fortune 500 companies.

CONTACT: Robert Tang, Head of Sales in the USA, +1 404 509 4040, robert@visionnav.com

PR Newswire

TD Holdings, Inc. Reports Fiscal Year 2021 Financial Results

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SHENZHEN, China, March 17, 2022 — TD Holdings, Inc. (Nasdaq: GLG) (the "Company"), a commodities trading service provider in China, today announced its financial results for the year ended December 31, 2021.

Ms. Renmei Ouyang, the Chief Executive Officer of the Company, stated, "We delivered exceptional business results for the year ended December 31, 2021, driven by continued execution of our strategy and our demonstrated ability to manage challenges brought by COVID-19 epidemic. For the year ended December 31, 2021, our revenue increased by 612% to $201.13 million and net loss narrowed down by 84% to $0.94 million, compared with $28.27 million and $5.95 million for the year ended December 31, 2020. The results give us the confidence to reach operating break-even or even profitable soon and we are delighted to see that we are moving in that direction."

Ms. Renmei Ouyang continued, "For the year ended December 31, 2021, we accomplished several key milestones across the entire organization, building a stronger foundation for ongoing success. Looking forward, we intend to continue driving growth in our business by leveraging our market leadership and investing to capitalize on robust demand dynamics. We will keep exploring our business opportunities in the markets of global gold spot trading, digital cloud warehouse as well as lightweight new materials. We believe that our unique market position and visionary growth strategy allow us to increase return of capital to our shareholders."

Fiscal Year 2021 Financial Highlights

  • Revenue from commodities trading business was $201.13 million, consisting of $197.95 million from sales of commodities products, and $3.18 million from supply chain management services, compared with $28.27 million for the year ended December 31, 2020, representing an increase of $172.87 million or 612%.
  • Net loss from continuing operations was $0.94 million, compared with net loss from continuing operations of $2.40 million for the year ended December 31, 2020.
  • Basic and diluted loss per share from continuing operations was $0.01, compared with basic and diluted loss per share from continuing operations of $0.05 for the year ended December 31, 2020.

Fiscal Year 2021 Financial Results

Revenues

For the year ended December 31, 2021, the Company sold non-ferrous metals to twenty-four third party customers and three related party customers at fixed prices, and earned revenues when the product ownership was transferred to its customers. The Company earned revenues of $173.90 million and $24.05 million, respectively, from sales of commodity products to twenty-four third party customers and three related party customers, compared with $8.25 million and $16.24 million, respectively, for the year ended December 31, 2020.

For the year ended December 31, 2021, the Company earned commodity distribution commission fees of $3.18 million from third party vendors compared with commission fees of $1.63 million from seven third party customers and distribution service fees of $2.14 million from three related party customers for the year ended December 31, 2020.

Cost of revenue

Our 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 increased by $173.49 million, or 704% to $198.13 million for the year ended December 31, 2021, from $24.64 million for the year ended December 31, 2020, primarily due to an increase of $173.44 million in cost of revenue associated with commodity product sales. The cost of revenue increased in line with the increased sales.

Selling, general, and administrative expenses 

Selling, general and administrative expenses increased by $5.10 million, or 168%, to $8.14 million for the year ended December 31, 2021, from $3.04 million for the year ended December 31, 2020. Selling, general and administrative expenses primarily consisted of salary and employee benefits, office rental expense, amortizations of intangible assets and convertible promissory notes, professional service fees and finance offering related fees. The increase was mainly attributable to (1) amortization of intangible assets of $3.93 million, and (2) amortization of convertible promissory notes of $0.49 million for the year ended December 31, 2021 while no such issuance for the year ended December 31, 2020.

Share-based payment for service

On March 4, 2021, the Company issued 750,000 fully-vested warrants with an exercise price of $0.01, with a five-year life, to an agent who was engaged to complete the warrant waiver and exercise agreements. The Company applied Black-Scholes model and determined the fair value of the warrants to be $1.70 million. Significant estimates and assumptions used included stock price on March 4, 2021 of $2.27 per share, risk-free interest rate of one year of 0.08%, life of 5 years, and volatility of 71.57% for the year ended December 31, 2021.

On July 16, 2021, the Company issued 140,000 shares of the Company’s common stock as compensation to a PR service provider for increasing the Company’s visibility in the financial news community, and recognized 141,400 Share-based payment for service to profit.

For the year ended December 31, 2020, no such expenses incurred.

Interest income

Interest income was primarily generated from loans made to third parties and related parties. Interest income increased by $3.84 million, or 62%, to $10.08 million for the year ended December 31, 2021, from $6.24 million for the year ended December 31, 2020. The increase was primarily due to loans made to Yunfeihu for the year ended December 31, 2021. For the year ended December 31, 2021, $4.12 million was attributed to related party and $5.94 million was generated from third party vendors.

Amortization of beneficial conversion feature and relative fair value of warrants relating to issuance of convertible notes

For the year ended December 31, 2021, there was amortization of beneficial conversion feature of $1.46 million of the three convertible promissory notes issued on January 6, 2021, on March 4, 2021 and on October 4, 2021.

For the year ended December 31, 2020, there was full amortization of beneficial conversion feature of $3.40 million and amortization of relative fair value of warrants of $3.06 million relating to the convertible promissory notes which was exercised in May 2020.

Net loss from continuing operations

Net loss from continuing for the year ended December 31, 2021 was $0.94 million, compared with net loss from continuing operations of $2.40 million for the year ended December 31, 2020.

Net loss

Net loss for the year ended December 31, 2021 was $0.94 million, compared with net loss of $5.95 million for the year ended December 31, 2020.

For the Year Ended December 31, 2021 Cash Flows

As of December 31, 2021, the Company had cash and cash equivalents of $4.31 million, compared with $2.70 million as of December 31, 2020.

Net cash provided by operating activities was $8.03 million for the year ended December 31, 2021, compared with $29.86 million as of December 31, 2020.

Net cash used in investing activities was $71.52 million for the year ended December 31, 2021, compared with $132.58 million as of December 31, 2020.

Net cash provided by financing activities was $64.12 million for the year ended December 31, 2021, compared with $106.15 million as of December 31, 2020.

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 epidemic 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 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:

Ascent Investor Relations LLC  
Ms. Tina Xiao
Email: tina.xiao@ascent-ir.com
Tel: +1 917 609 0333

TD HOLDINGS, INC.
CONSOLIDATED BALANCE SHEETS
As of December 31, 2021 and 2020

December 31,

December 31,

2021

2020

ASSETS

Current Assets

Cash and cash equivalents

$

4,311,068

$

2,700,013

Loans receivable from third parties

115,301,319

18,432,691

Due from related parties

11,358,373

55,839,045

Other current assets

3,288,003

1,310,562

Total current assets

134,258,763

78,282,311

Non-Current Assets

Plant and equipment, net

2,872

–

Goodwill

71,028,283

69,322,325

Intangible assets, net

21,257,337

19,573,846

Right-of-use assets, net

888,978

–

Total non-current assets

93,177,470

88,896,171

Total Assets

$

227,436,233

$

167,178,482

LIABILITIES AND EQUITY

Current Liabilities

Accounts payable

$

3,337,758

$

–

Bank borrowings

1,129,288

1,653,247

Third party loans payable

476,779

–

Advances from customers

5,221,874

9,214,369

Due to related parties

21,174

7,346,021

Income tax payable

8,441,531

5,460,631

Lease liabilities

310,665

–

Other current liabilities

4,297,793

3,197,147

Acquisition payable

–

15,384,380

Convertible promissory notes

3,562,158

–

Total current liabilities

26,799,020

42,255,795

Non-Current Liabilities

Deferred tax liabilities

4,178,238

4,893,461

Lease liabilities

586,620

–

Total non-current liabilities

4,764,858

4,893,461

Total liabilities

31,563,878

47,149,256

Commitments and Contingencies (Note 16)

Equity

Common stock (par value $0.001 per share, 600,000,000 shares
authorized; 138,174,150 and 79,131,207 shares issued and outstanding
at December 31, 2021 and 2020, respectively)

138,174

79,131

Additional paid-in capital

224,790,409

151,407,253

Statutory surplus reserve

1,477,768

913,292

Accumulated deficit

(42,200,603)

(39,255,945)

Accumulated other comprehensive income

11,666,607

6,885,495

Total TD Shareholders’ Equity

195,872,355

120,029,226

Total Equity

195,872,355

120,029,226

Total Liabilities and Equity

$

227,436,233

$

167,178,482

TD HOLDINGS, INC.

CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (LOSS)
For the Years Ended December 31, 2021 and 2020
(Expressed in U.S. dollars, except for the number of shares)

For the Years Ended

December 31,

2021

2020

Revenues

Sales of commodity products – third parties

$

173,904,016

$

8,252,866

Sales of commodity products – related parties

24,049,999

16,243,777

Supply chain management services – third parties

3,180,227

1,631,318

Supply chain management services – related parties

–

2,140,840

Total Revenues

201,134,242

28,268,801

Cost of revenues

Commodity product sales – third parties

(173,996,000)

(7,853,215)

Commodity product sales – related parties

(24,045,511)

(16,744,094)

Supply chain management services – third parties

(84,118)

(43,162)

Total operating costs

(198,125,629)

(24,640,471)

Gross profit

3,008,613

3,628,330

Operating expenses

Selling, general, and administrative expenses

(8,137,481)

(3,035,598)

Share-based payment for service

(1,836,442)

–

Total operating expenses

(9,973,923)

(3,035,598)

Other income (expenses), net

Interest income

10,079,776

6,239,943

Interest expenses

(313,965)

(185,106)

Amortization of beneficial conversion feature relating to issuance
of convertible promissory notes

(1,463,883)

(3,400,000)

Amortization of relative fair value of warrants relating to issuance
of convertible promissory notes

–

(3,060,000)

Impairment of investment in an equity investee

–

(410,000)

Other income (expense), net

(285,774)

–

Total other income (expenses), net

8,016,154

(815,163)

Net income(loss) from continuing operations before income taxes

1,050,844

(222,431)

Income tax expenses

(1,991,201)

(2,177,924)

Net loss from continuing operations

(940,357)

(2,400,355)

Net loss from discontinued operations, net of tax

–

(3,551,258)

Net loss

(940,357)

(5,951,613)

Net loss attributable to TD Holdings, Inc.’s Stockholders

$

(940,357)

$

(5,951,613)

Other comprehensive income

Net loss

$

(940,357)

$

(5,951,613)

Foreign currency translation adjustment

4,781,112

7,219,776

Comprehensive income

3,840,755

1,268,163

Weighted Average Shares Outstanding-Basic

107,417,633

51,273,048

Weighted Average Shares Outstanding- Diluted

121,099,328

51,273,048

(loss) per share- basic

$

(0.01)

$

(0.12)

(loss) per share- diluted

$

(0.01)

$

(0.12)

(loss) per share continuing – basic and diluted

$

(0.01)

$

(0.05)

Income (loss) per share discontinued – basic and diluted

$

–

$

(0.07)

TD HOLDINGS, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS
For the Years Ended December 31, 2021 and 2020
(Expressed in U.S. dollar)

For the Years Ended

December 31,

2021

2020

Cash Flows from Operating Activities:

Net loss

$

(940,357)

$

(5,951,613)

Less: Net loss from discontinued operations

–

3,551,258

Net loss from continuing operations

(940,357)

(2,400,355)

Adjustments to reconcile net loss to net cash provided by (used in)
operating activities:

Depreciation of plant and equipment

622

–

Impairment of right of use assets

–

176,225

Amortization of right-of-use lease assets

45,309

–

Amortization of intangible assets

3,927,961

514,618

Amortization of beneficial conversion feature of convertible
promissory notes

489,000

–

Interest expense for convertible promissory notes

417,784

–

Stock-based compensation to senior management

–

37,899

Share-based payment for service

1,836,442

–

Standstill fee relating to convertible promissory notes

356,934

–

Amortization of beneficial conversion feature relating to issuance
of convertible promissory notes

1,463,883

3,400,000

Amortization of relative fair value of warrants relating to issuance
of convertible promissory notes

–

3,060,000

Impairment on investment securities

–

–

Impairment of equity investments

–

410,000

Deferred tax liabilities

(825,945)

(135,930)

Changes in operating assets and liabilities, (net of assets and
liabilities acquired and disposed):

Other current assets

5,558,942

(776,626)

Inventories

–

403,471

Prepayments

–

13,317,930

Due from related parties

(496,242)

(4,327,269)

Advances from customers

(4,170,261)

6,692,708

Due from third parties

(2,619,091)

5,321,874

Income tax payable

2,808,268

2,313,853

Due to related parties

(5,516,085)

–

Accounts payable

3,299,002

–

Other current liabilities

1,039,735

2,148,993

Lease liabilities

886,866

(176,225)

Due to third party loans payable

471,243

–

Net cash provided by operating activities from continuing operations

8,034,010

29,981,166

Net cash used in operating activities from discontinued operations

–

(125,133)

Net cash provided by operating activities

8,034,010

29,856,033

Cash Flows from Investing Activities:

Purchases of intangible assets

(5,115,803)

–

Purchases of plant and equipment

(3,469)

–

Purchases of operating lease assets

(923,964)

–

Investment in subsidiary, net of cash acquired

(15,579,946)

(82,227,328)

Payment made on loan to related parties

–

(47,114,208)

Payment made on loans to third parties

(108,800,053)

(173,673,614)

Collection of loans from third parties

13,504,542

170,432,603

Collection of loans from related parties

45,397,738

–

Net cash used in investing activities from continuing operations

(71,520,955)

(132,582,547)

Net cash used in investing activities from discontinued operations

–

–

Net cash used in investing activities

(71,520,955)

(132,582,547)

Cash Flows from Financing Activities:

Repayments made on loans to third parties

(558,088)

(318,748)

Repayment made on loans to related parties

(1,901,724)

–

Proceeds from borrowings from related parties

–

1,613,696

Proceeds from issuance of common stock under ATM transaction

2,192,989

–

Proceeds from registered direct offering, net of transaction costs

–

20,000,000

Proceeds from issuance of common stock under private placement transactions

57,877,941

18,500,000

Proceeds from issuance of convertible promissory notes

6,500,000

30,000,000

Proceeds from exercise of warrants

7,500

36,353,731

Net cash provided by financing activities from continuing operations

64,118,618

106,148,679

Net cash provided by financing activities from discontinued operations

–

–

Net cash provided by financing activities

64,118,618

106,148,679

Effect of Exchange Rate Changes on Cash

979,382

(2,499,428)

Net Increase in Cash

1,611,055

922,737

Cash, Beginning of Year

2,700,013

1,777,276

Cash, End of Year

$

4,311,068

$

2,700,013

Less: Cash from discontinued operations

–

–

Cash from continuing operations

$

4,311,068

$

2,700,013

Cash paid for interest expense

$

92,062

$

18,073

Cash paid for income taxes

$

75,416

$

–

Supplemental disclosure of non-cash investing and financing activities

Right-of-use assets obtained in exchange for operating lease obligations

$

–

$

186,191

Issuance of common stocks in connection with private placements, net of issuance costs with proceeds collected in advance in November 2019

$

–

$

1,600,000

Issuance of common stocks in connection with conversion of convertible promissory notes

$

–

$

30,000,000

Issuance of common stocks in connection with cashless exercise of 962,022 warrants

$

–

$

1,269,869

Fair value of HC High Summit assets disposed

$

–

$

5,320,768

HC High Summit liabilities derecognized

$

–

$

(2,606,257)

Issuance of common stocks in exchange of investments in one equity investee

$

1,439,826

$

–

 

PR Newswire

Xinhua Silk Road: Fujian Dehua speeds up ceramics brand building with business events and policy kit

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BEIJING, Jan. 30, 2022 — The first Dehua "Master IP+" product launch and business matching event recently kicked off in the China ceramics e-commerce logistics park in Dehua county of east China’s Fujian Province.

Exhibits shown at the first Dehua "Master IP+" product launch and business matching event
Exhibits shown at the first Dehua "Master IP+" product launch and business matching event

By introducing more than 300 ceramics products for the Year of the Tiger, this very first event of the newly-opened logistics park set the tone for building a "Mater IP+" business mode while enriching Dehua ceramics namecard with cultural heritage and added value.

Dehua, a ceramics manufacturing powerhouse in China, exports over 70 percent of its ceramic products to over 190 countries and regions worldwide. It was dubbed the "World Ceramics City" by the World Crafts Council in 2015.

It is noted that the output value of Dehua ceramics exceeded 45 billion yuan in 2021, with brand value reaching 108.6 billion yuan. 

Traditionally well-known for white porcelain, Dehua country has been actively pushing forward industrial upgrades and transformation along with brand building for improved market competitiveness and international recognition and influence. 

The county government has released series of measures such as giving support for ceramics related shows and exhibitions, ceramic design and technique competitions, exploring marketing channels, as well as developing ceramic cultural and creative products.

Eyeing on the goal of "small county with large e-commerce vision and whole business ecology", Dehua county is also working on building and improving the service platform for artistic ceramics, hosting product fairs and new product launch while helping to bridge masters and enterprises. 

See the original link: https://en.imsilkroad.com/p/326300.html

PR Newswire

Leading E-commerce Logistics and Fulfillment Brand NextSmartShip Partners with B2B Medical E-commerce Giant LyncMed

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——NextSmartShip Solution for B2B E-commerce Platforms to Extend Global Reach

SHENZHEN, China, Jan. 13, 2022 — NextSmartShip, a world-leading fulfillment service provider for global e-commerce sellers, signed a strategic partnership agreement with LyncMed, a major global e-commerce platform for medical instruments.

Under this partnership, NextSmartShip will empower LyncMed during its global expansion with industry-leading logistics and fulfillment expertise and the next-gen proprietary SaaS platform – Fulfillship.

Global e-commerce has seen exceptional growth since the pandemic. Besides traditional industry giants like Amazon, new e-commerce platforms such as Shopify, WooCommerce, Wix, Walmart, and other vertical platforms were also propelled into a higher growth trajectory. Fulfillment companies played a fundamental role during this.

NextSmartShip has been the fulfillment partner for many of these platforms and is becoming the best and only option for more e-commerce, especially B2B platforms for their fulfillment solution, thanks to its comprehensive and innovative capabilities as a fully equipped provider throughout all supply chain stages and the in-depth experience serving 1000+ international DTC brands. Featuring:

  • 97% global coverage with 70+ top international carrier partners;
  • Next-gen SaaS platform offering smart functions like routes recommendation, fee estimation, smart inventory distribution, seamless tracking updates etc;
  • Open API kits that allow easy integration into B2B platforms;
  • Dedicated servers which ensure fast, stable, and secure data transmission;
  • Top of the line value-added services, e.g., product assembling and kitting;
  • One-stop experience: pick up at the door of your thousands of vendors (within China) and deliver globally;
  • A seamless payment experience supporting flexible billing models;
  • Highly-rated customer service.

As one of the leading B2B players in a vertical field, LyncMed is committed to bridging different sectors and improving the efficiency of the whole value chain for the medical device industry. Through this new partnership, LyncMed hopes to meet more global requirements with a stable, efficient, complete yet flexible logistic solution powered by NextSmartShip.

"Relying on our advantages in the global fulfillment industry, our innovative solution can help LyncMed build a robust platform that truly empowers global businesses in the medical device industry."

"We have been chosen and recommended as the overall fulfillment solution provider for nearly ten similar supply chain e-commerce platforms globally, including some industry giants. This proves the scarcity of the ‘NextSmartShip Solution’," said William Yu, CEO and founder of NextSmartShip.

"We are much grateful to all our partners for their trust and recognition of our services and solution. We hope to provide a much more seamless and comfortable logistics experience for both sellers and their buyers on these e-commerce platforms so that sellers can truly focus on scaling their business through product development and supply chain management, which are their core advantages."

To view more details, please visit: http://www.nextsmartship.com 

About NextSmartShip

NextSmartShip is a tech-centered GLOCAL logistics powerhouse that strives to help DTC brands of different sizes to elevate their e-commerce business into the next big thing.

With a short history from 2019, the company has been helping thousands of global DTC brands to gain exceptional growth via its professional, stable, and affordable fulfillment services. It now delivers over a million packages per year to international destinations.

***

For media inquiries, please contact: Jackie.Jiang@nextsmartship.com  

 

PR Newswire

Enotek Upgrades the Brand with a New Vision to Innovate Smart Logistics for Manufacturing

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SHANGHAI, Jan. 12, 2022 — On January 11, 2022, Eoslift announced to change its corporate branding to Enotek in Shanghai, China. Enotek will help customers build efficient supply chain systems with intelligent products and system solutions, and continue to unleash the business value inherent in smart manufacturing logistics. Eoslift, Enotek’s predecessor, entered the logistics equipment industry in 2008 with presence in Europe and North America, and established a wholly-owned subsidiary in California, U.S.A in 2012. Today, the company is strategically operating across the entire value chain of "equipment + software + systems + platform services". As a forerunner of logistics technology, Enotek strives to leverage its industry expertise to drive the smart upgrading of logistics for the manufacturing industry. 

Smart upgrading of logistics has been an inevitable trend for the manufacturing industry, and embracing a bright prospect. The global automated intralogistics material handling solutions market is set to be valued at US$ 43.83 billion in 2021, with steady long-term projections, according to latest insights by Persistence Market Research. The study estimates that the market will expand at 14% CAGR through 2031. For manufacturers, digital upgrading toward smart manufacturing logistics can help them adopt flexible management. This will be critical in an era of transformation.

According to Andy Jiang, Enotek Chairman and CEO, Enotek, with its new positioning, will focus on the multi-billion-dollar smart manufacturing logistics market and strive to become a leader in innovative technologies for digital and smart logistics. Enotek will focus on its four priorities: "Excellence & Excelsior", "To Envision & Enable", "Innovation", and "Technology". This aligns with its future strategic roadmap.

Innovate first to overcome key technical barriers

Enotek is sparing no effort to innovate using technologies for digital and smart logistics. According to Enotek CTO Wayne Xu, up to 60% of the staff at Enotek are technical personnel, and the company spends 11% of its revenue on R&D. Xu emphasized that Enotek will continuously increase its input in innovation and R&D, to overcome technical barriers in the industry. 

Enotek has continuously upgraded application scenarios since its inception to adapt to the upgrading needs of its customers across different industries. Today, Enotek is able to develop products across the value chain from smart equipment, such as pallet stacking machines and automated guided vehicles (AGVs), to software systems, such as the Warehouse Management System (WMS) and the Warehouse Control System (WCS). Enotek products，such as AS/RS and automated guided vehicles (AGVs) ，have been proven to be cost-effective and reliable in the China market, and these products and relevant experience will continuously benefit the global market. Meanwhile, Enotek is preparing to build a megafactory where robots make robots. It will serve as one of Enotek’s manufacturing bases, to manufacture highly cost-effective products for global customers.

To better meet the needs for logistics upgrading, Enotek is innovating with the aim of helping customers improve efficiency and cut costs. It’s one of the first logistics technology companies in China that is driving the adoption of cutting-edge technologies, such as digital twin, machine vision, and AI algorithms. Digital twin has enabled Enotek to create an accurate representation of logistics processes in the virtual realm, effectively helping customers optimize decision making to improve management effectiveness. Machine vision and AI algorithms allow intralogistics to be better coordinated with production and supply. In addition, Enotek optimizes its technologies and products in a modular manner, to serve customers flexibly with great technical strengths, flexibility and cost-effectiveness.

As a forerunner, Enotek has also achieved much in creating an industry ecosystem. For example, the company entered into a strategic partnership with Siemens on simulated testing systems to explore more application scenarios for technologies and equipment. It is working closely with BYD to help it upgrade across multiple fields, such as digital factory, digital parks, smart logistics, and smart warehousing. And this year, the company officially began to collaborate with Deutsch-Chinesische Institut für angewandte Forschung und Promotion for R&D on multiple dimensions, to upgrade and innovate with digital and smart technologies…. By working with partners across the industry and academics, Enotek is building an open and inclusive ecosystem to overcome the industry’s existing technical barriers and to eventually produce synergies and mutually beneficial results.

Create a global footprint of smart manufacturing logistics on multiple dimensions

Andy Jiang, Enotek Chairman and CEO
Andy Jiang, Enotek Chairman and CEO

As an innovator and forerunner, Enotek introduces an Enotek Model for manufacturers to drive the digital and smart upgrading of logistics. This model is built on Enotek’s rich experience in helping customers upgrade toward smart logistics across multiple industries, such as chemical fiber, glass fiber, e-commerce, retail, household appliance and new energy. Examples include leading companies like Whirlpool, Ford, Tongkun, Xinfengming, and JD.com. The agreement of the Jushi Egypt project reached in 2021 marked a milestone in Enotek China’s overseas business journey.

In fact, the manufacturing industry faces many common pain points in upgrading toward smart logistics. For example, emerging industries cannot copy existing data models, and the accuracy of digital twin is challenging to achieve. The current "one-size-fits-all" upgrading solution cannot meet the non-standard needs of various factories, and the rapid changes in the marketplace raise higher requirements for the flexibility and scalability of smart manufacturing logistics. These serious challenges can be overcome by efficient and customized solutions developed based on the Enotek Model. Enotek will collaborate with overseas partners and use digital and smart technologies to help customers solve real problems. 

The upgrading of corporate branding is based on Enotek’s understanding of market trends as well as its 13+ years of expertise in the industry. Among the solution providers for upgrading toward smart logistics, few can offer both cutting-edge technology and better value for cost. Enotek jumped at this opportunity. Based on its understanding of global markets and its localized strategies, the company is able to better address the real needs of international customers.

Looking forward, Enotek will strive to explore more cutting-edge solutions for innovative application scenarios, to provide an affordable access for manufacturers to upgrade toward smart logistics.

 

PR Newswire

project44 Receives $420 Million Investment led by Thoma Bravo, TPG and Goldman Sachs Valuing Business at $2.2 Billion Pre-Money

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– With $100+ million in ARR, 1,000+ team members, 1,000+ customers, 1+ billion packages tracked annually and the top performer in analyst reports, project44 leads the supply chain visibility market

CHICAGO, Jan. 12, 2022 — project44, the leading supply chain visibility platform, announced today that it received an investment totaling $420 million. A syndicate led by Thoma Bravo, TPG and Goldman Sachs Asset Management ("Goldman Sachs") with participation from Emergence Capital, Insight Partners, Chicago Ventures, Generation Investment Management, Sapphire and Sozo Ventures acquired equity interests resulting in a pre-money valuation of $2.2 billion, and Sixth Street committed to make available additional funding, in support of the company’s strategic acquisition program and product development activities. When combined with its $202 million equity raise in May of 2021, project44 has set a funding record for Logistics Tech enterprise SaaS companies. These investments position project44 to accelerate its mission to help leading brands optimize the movement of products across supply chains, delivering better resiliency, sustainability and value for their customers.

project44 Receives $420 Million Investment led by Thoma Bravo, TPG and Goldman Sachs Valuing Business at $2.2 Billion Pre-Money
project44 Receives $420 Million Investment led by Thoma Bravo, TPG and Goldman Sachs Valuing Business at $2.2 Billion Pre-Money

"Today, project44 is helping companies solve supply chain challenges ranging from inflationary pressure and lockdowns to unpredictable weather and bottlenecks at ports. Our growth over the past year speaks to these macroeconomic tailwinds and the competitive edge we can provide to our customers," said Jett McCandless, Founder & CEO of project44. "With ongoing support from our investors, we can offer even more value to our customers and solidify our position as the global network that powers the future of the supply chain."

in Supply Chain Visibility

Throughout 2021, project44 cemented its position as the company in supply chain visibility with global port-to-door coverage across all modes of transportation. The company now generates more than $100 million in annual recurring revenue (ARR), the largest generation 2 logistics tech in the world.

The most influential analysts within the logistics industry also rank project44 ahead of its competitors. Placing first in FreightTech 25, Gartner Voice of the Customer and G2 have all awarded project44 their highest honors. In addition, Chicago Inno named project44 among the best 100 places to work in the city.

"Supply chain visibility has become increasingly important as shortages, delays and bottlenecks ramp up.  project44’s potential to solve even the most complex of these issues is unparalleled," said Robert (Tre) Sayle, Partner at Thoma Bravo. "By continuously evolving to meet customer needs, project44 has developed a revolutionary platform that adds significant value to the entire global supply chain."

"project44 has been scaling at an impressive pace, executing decisively on its vision of a global end-to-end supply chain visibility platform. Supply chain visibility has become a critical technology to solving large-scale problems in the world today, and project44 has emerged as the global market leader," said Malte Janzarik, Partner at TPG based in Europe. "The breadth of data project44 offers and ease of access for shippers, logistics providers and carriers are unmatched. We believe that project44’s next-gen platform and highly valuable network will continue to drive tremendous growth."

TPG is investing in project44 out of TPG Tech Adjacencies (TTAD), an investment vehicle focused on flexible capital solutions for the technology industry.

Meeting a Critical Need for Global Businesses

As the supply chain connective tissue, project44 offers the largest carrier network of any supply chain visibility provider with more than 142,732 multimodal carrier integrations and 2.7 million trucks.  Shippers and logistics providers depend on project44 to help them navigate today’s increasingly complex supply chains, improving their sustainability, building transportation resiliency and meeting the evolving demands of their customers.  project44 supports more than 1,000 organizations across industries including leading brands such as Amazon, Baker Hughes, Coop, CNHI, Danone, Dollar General, FedEx, General Mills, Goodyear, Kuehne & Nagel, Lenovo, McKesson, Mondelez, Nestle, The Home Depot and Unilever.

Record-Shattering Growth

project44’s momentum speaks to its differentiation and immense lead in the supply chain visibility space. Following an exceptional Q3 2021, project44 has landed $12.7 million of newly booked annual recurring revenue (ARR) in Q4. The company has closed 117 logos over that timeframe, contributing to YoY bookings increase of 170% and YoY logo growth of 216%. 

In addition to new business wins, net retention for 2021 is at 133%, while annualized gross retention was 96%. project44’s ARR has reached over $100 million with a subscription gross margin of 70%, which is up 3% year-over-year. To build on this success, project44 will be nearly doubling its investment in product and engineering in 2022 to deliver improved real-time visibility across more modes of transportation in more regions.

Expanding International Team

project44 continues to expand its international footprint, offering supply chain visibility in 166 countries. More than 1,000 team members work with project44 at its 17 global offices. Over the coming year the company plans to hire hundreds of new talented team members in China, Europe, Latin America, North America, and Japan.

project44 also hired its first director of diversity, equity, inclusion & culture executive, Ivana Savic-Grubisich. The company is committed to hiring team members who reflect the rich diversity of the communities in which it operates.

Executive Hires

In 2021, project44 added five new executives to the team to manage its growing footprint. Charlie Ungashick joined as Chief Marketing Officer in February and Diane Gordon joined as SVP, Global Customer Success in March. In November, Elliot Rodgers joined as Chief People Officer, Jennifer Coyne was appointed General Counsel and Andy Grygiel returned as Chief Brand Officer. These experienced executives bring unique insight to accelerate project44’s growth.

Massive Gains Through M&A 

Throughout 2021, project44 increased its value to shippers and logistics providers through acquisitions of leading companies in the market offering complementary solutions. The September acquisition of Convey has enabled project44 to extend real-time visibility and exception management to last-mile, including parcel, courier, white-glove doorstep delivery, and visibility into item returns.  Ocean Insights, acquired in March, brought much-demanded visibility into cargo at sea. ClearMetal, acquired in May, established project44 as the leader in artificial intelligence and machine learning with automation that reduces costs throughout the supply chain.

What Our Customers Say

"project44 has enabled us to meet our commitment to customers in a year of unpredictability," said Pat Kenefick, Vice President, Global Distribution and Logistics at AbbVie. "With awareness of where our goods are located, we can adapt to interruptions and make proactive decisions to ensure that our distributors are stocked with inventory. Supply chain visibility is a game changer for our ability to drive growth and enhance patient experiences in a challenging economic environment."

"HARIBO is committed to delivering our beloved products on time and at the high level of quality our brand is known for. This is a core piece of what has allowed us to become a successful business. We benefit from being a global company with a decentralized manufacturing structure. A perfectly coordinated global supply chain is essential for us and that is why we continuously invest in it. We chose to work with project44, the leader in real-time transportation visibility," said Stefan Sorce, Head of global logistics and managing director in the Haribo Logistics Company, at Haribo. "These insights will help us increase the resiliency of our supply chain and enable faster and smarter decisions that will get Haribo’s products into the hands of our customers."

"The ongoing events of the last two years have placed unprecedented strain on the supply chains of consumer products manufacturers, and this has only served to highlight the critical need to mitigate risk and increase supply chain resilience," said Alessandro Bonanno, Head of Global Logistics and Customer Service at Beiersdorf AG. "Partnering with project44 will provide Beiersdorf with improved visibility into our transportation flows and shipments, which will help us cope better with any future supply chain disruptions and fulfill consumer demand."

"Our team brought on project44 because of its global visibility into import and export arrival and departures," said Hiroshi Etani, Managing Executive Officer, at Yamato Transport Co., Ltd., Japan’s largest delivery company, "The broad network of multimodal transportation tracking brings more predictability to our business and helps us better communicate with our customers."

About project44

project44 is the world’s leading advanced visibility platform for shippers and logistics service providers as defined by number of happy customers, number of carriers, number of customers, ARR, net retention, shipments per day, growth rate and gross margin. project44 connects, automates and provides visibility into key transportation processes to accelerate insights and shorten the time it takes to turn those insights into actions. Leveraging the power of the project44 cloud-based platform, organizations increase operational efficiencies, reduce costs, improve shipping performance and deliver an exceptional experience to their customers. Connected to thousands of carriers worldwide and having comprehensive coverage for all ELD and telematics devices on the market, project44 supports all transportation modes and shipping types, including Air, Parcel, Final-Mile, Less-than-Truckload, Volume Less-than-Truckload, Groupage, Truckload, Rail, Intermodal and Ocean. In 2021, project44 was named a Leader among Real-Time Transportation Visibility Providers in Gartner’s Magic Quadrant. To learn more, visit www.project44.com.

Contact
project44@nextpr.com