TD Holdings Inc (GLG) stock rallied 8.55% to $0.32 before the end of the recently traded session and further rocketed 8.5% in the pre-market to $0.3472 per share. The organization shared frustrating 2021 results on 16 March 2021, regardless of which the stock became bullish to ascend as of recently. The bullish pattern of GLG stock comes from the market improvements with respect to the continuous review related struggle between the U.S. also, China. Also, TD Holding filed form 10-K for the yearly report on 16 March 2022.
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TD Holdings Inc is a holding organization, which takes part in product exchanging and inventory network administration organizations. It has a market cap of $66.25 million and has its headquarters in Suzhou, Jiangsu, China.
TD Holdings Inc published the results for the fiscal year 2021, on 16 March 2022. The firm posted total revenue of $201.1 million in FY2021 versus $28.2 million in FY2021.
Moreover, the gross profit of the firm was $3.008 million in FY21 whereas the total loss of GLG in FY2021 was reported to be $0.940 million. Besides, the firm had a loss of $0.01 per stock in FY2021.
What is happening with Chinese stocks?
Chinese stocks have been seriously thumped over late months due to the China-Russia relationship and the continuous review issues had them negative for some time. China Securities Regulatory Commission alongside different controllers said to slacken examining rules, on Saturday. In this manner, the vulnerability over the Chinese stocks is inclining towards an end on the off chance that the U.S. and China concur upon a compromise.
The China Securities Regulatory Commission additionally said on Friday that it summoned a gathering this week with a few audit firms and advised them to consider planning for joint assessments. Since March, the U.S. SEC has begun to name explicit Chinese stocks for neglecting to stick to the Holding Foreign Companies Accountable Act which was passed in 2020. The demonstration would permit the SEC to delist Chinese organizations from U.S. trades if American controllers can’t survey organization reviews for three successive years.
The future of GLG stock relies upon the U.S.- China review issue. GLG has been endeavoring to advance its financial position yet 2021 didn’t demonstrate much better all things considered. GLG is investigating its choices including the offer of one more inactive resource to assist with moving things around. In any case, up to this point, nothing significant focuses on a splendid future for the organization.
The ongoing conflict between the US and China is acting as a catalyst to drive the Chinese stocks. Albeit the stock is making a few additions on the reports what is happening could lead it to a fall soon on the off chance that not settled.