BRADENTON, Fla., Aug. 29,
2024 /PRNewswire/ -- BAIYU Holdings, Inc. ("BAIYU" or
the "Company") (Nasdaq: BYU), a leading B2B bulk commodity
e-commerce platform and supply chain service provider, today
announced that the Company, through its subsidiary BMYA New Energy
Technology Inc. ("BNET"), has signed a US$60
million purchase and sales contract (the "Contract") for
electric lithium batteries with Feng's Auto Parts Inc., a
U.S.-based auto parts supplier. The Contract represents the
official debut of the Company's proprietary lithium battery brand
into the U.S. market, advancing its strategic positioning in the
new energy sector.
Pursuant to the Contract, Feng's Auto Parts Inc. agrees to
purchase 50,000 sets of electric lithium batteries with a unit
price of $1,200 from BNET. Such
batteries involved are available in 6V and 12V configurations, with
a current capacity ranging from 100Ah to 300Ah. The Company
anticipates that all deliveries will be completed by May 2025.
Ms. Ouyang Renmei, Chief Executive Officer of BAIYU Holdings,
Inc., commented: "Securing such a significant contract not only
reflects our substantial progress in expanding our presence in the
energy storage and lithium battery industries, but also highlights
the effectiveness of our strategy and the recognition of our
industry strength by the U.S. market. We are eager to pursue
further opportunities like this to enhance our brand reputation and
ultimately deliver greater value to our shareholders."
About BAIYU Holdings, Inc.
BAIYU Holdings, Inc. (NASDAQ: BYU) is a leading B2B bulk
commodity e-commerce platform and supply chain service provider.
Currently, the Company is focused on expanding its new business in
photovoltaic, energy storage power, and fast-charging power
stations, along with services for the new energy industry. The
Company's business involves investing in fast-charging power
stations, commercial power stations, and offering integrated new
energy solutions and operations that encompass photovoltaic, energy
storage, and fast-charging power stations. It offers comprehensive
solutions and operations for global new energy storage systems and
specialized sectors. With a central focus on new energy and an
orientation towards integrated power systems, the Company is
dedicated to fields like clean energy, smart power, intelligent
photovoltaic, and the operation and maintenance of fast-charging
station outlets. For more information, please visit
www.baiyuglobal.com.
Forward-Looking Statements
Certain statements in this announcement are forward-looking
statements. These forward-looking statements involve known and
unknown risks and uncertainties and are based on the Company's
current expectations and projections about future events that the
Company believes may affect its financial condition, results of
operations, business strategy and financial needs. Investors can
identify these forward-looking statements by words or phrases such
as "approximates," "assesses," "believes," "hopes," "expects,"
"anticipates," "estimates," "projects," "intends," "plans," "will,"
"would," "should," "could," "may" or similar expressions. The
Company undertakes no obligation to update or revise publicly any
forward-looking statements to reflect subsequent occurring events
or circumstances, or changes in its expectations, except as may be
required by law. Although the Company believes that the
expectations expressed in these forward-looking statements are
reasonable, it cannot assure you that such expectations will turn
out to be correct, and the Company cautions investors that actual
results may differ materially from the anticipated results and
encourages investors to review other factors that may affect its
future results in the Company's registration statement and other
filings with the U.S. Securities and Exchange Commission.
For more information, please contact:
BAIYU Holdings, Inc.
Investor Relations Department
Email: ir@baiyuglobal.com
Ascent Investor Relations LLC
Tina Xiao
President
Phone: +1-646-932-7242
Email: investors@ascent-ir.com
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SOURCE BAIYU Holdings, Inc.