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.
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