TD Holdings announces the company’s fiscal year 2019 financial results. According to the details released by the company, the company has generated net income of $0.66 million from trading different commodities. This income consists of $0.56 million from supply chain management services and $.010 million from sales of commodities of different products.
The company has said that it had generated its revenue mainly from the used car leasing business and commodities trading business.
The company has recorded the net income from operating lease up to $1.83 million with an increase of 275% as compared to the $0.49 from the fiscal year of 2018. The net loss of the company reached at $6.94 million as compared to the $2.32 million for the fiscal year of 2018.
The diluted and basic loss per share of the company stood at $0.89 as compared to the basic and diluted share of $0.50 for the fiscal year of 2018. The company records the shareholders equity up to $5.80 million in the fiscal year of 2019 as compared to the shareholder’s equity of $2.80 million for the fiscal year of 2018.
Chief Executive Officer of TD Holdings, Mrs. Renmei Ouyang said, “We are pleased to report our financial results for fiscal year 2019. We started our commodity trading business in late 2019. The turnover of China’s commodity market has shown a rapid upward trend, and I believe that entering into the commodity trading business will bolster the Company’s income and increase shareholder value.”
“We will focus on non-ferrous metal commodities such as aluminum, copper, silver, and gold. We strive to become an emerging platform in the non-ferrous metal e-commerce industry by offering all participants in the non-ferrous metal e-commerce industry a seamless, one-stop transaction experience,” Mrs. Renmei Ouyang further added.