铜道控股美股招股说明书(2023-07-31版)

424B51ea182532-424b5_tdholdings.htmPROSPECTUSSUPPLEMENT FiledpursuanttoRule424(b)(5)RegistrationNo.333-239757 ProspectusSupplement (ToProspectusdatedAugust4,2020) TDHOLDINGS,INC. 28,000,000SharesofCommonStock Weareoffering28,000,000sharesofourcommonstock,$0.001parvaluepershare,directlytotheinvestorsinthisofferingatapriceof$0.35persharepursuanttothisprospectussupplementandtheaccompanyingprospectus. Foramoredetaileddescriptionofthesharesofcommonstock,seethesectionentitled“DescriptionofSecuritiesWeAreOffering”beginningonpageS-39. OursharesofcommonstockarecurrentlytradedontheNASDAQCapitalMarketunderthesymbol“GLG.”OnJuly29,2023,theclosingpriceofoursharesofcommonstockwas$0.55pershare. Theaggregatemarketvalueofouroutstandingsharesofcommonstockheldbynon-affiliateswasapproximately$70.6millionbasedon156,407,446outstandingsharesofcommonstock,ofwhich128,343,446sharesareheldbynon-affiliates,andpersharepriceof$0.55,whichwasthelastreportedpriceontheNASDAQCapitalMarketofourcommonstockonJuly28,2022.WehaveofferedUS$2,059,072.97ofsecuritiespursuanttoGeneralInstructionI.B.6.ofFormS-3duringtheprior12calendarmonthperiodthatendsonandincludesthedateofthisprospectussupplementandwemayselluptoapproximatelyUS$100millionofsecuritieshereunder. Wehavenegotiatedwithcertainnon-U.S.personinvestorsofferandsaleofourcommonstock.See“PlanofDistribution”beginningonpageS-40ofthisprospectussupplementformoreinformationregardingthesearrangements. InvestorsarepurchasingsecuritiesofaDelawareholdingcompanyratherthansecuritiesofoursubsidiariesthathavesubstantivebusinessoperationsinChina.TheCompanyisaDelawareholdingcompanythatconductsitsoperationsandoperatesitsbusinessinChinathroughitsPRCsubsidiaries.Suchstructureinvolvesuniqueriskstoourinvestors.TheChinesegovernmentmayinterveneinorinfluencetheoperationofPRCsubsidiariesandexercisesignificantoversightanddiscretionovertheconductoftheirbusinessormayexertmorecontroloverofferingsconductedoverseasby,and/orforeigninvestmentin,China-basedissuers,whichcouldresultinamaterialchangeinouroperationsand/orthevalueofourcommonstock.Further,rulesandregulationsinChinamaybechangedfromtimetotime,andanyactionsbytheChinesegovernmenttoexertmoreoversightandsupervisionoverofferingsthatareconductedoverseasby,and/orforeigninvestmentin,China-basedissuerscouldsignificantlylimitorcompletelyhinderourabilitytoofferorcontinuetooffersecuritiestoinvestorsandcausethevalueofsuchsecuritiestosignificantlydeclineorbeworthless.See“RiskFactors—RisksRelatedtoOurCorporateStructure”and“RiskFactors—RisksRelatedtoDoingBusinessinChina”. TherearesignificantlegalandoperationalrisksassociatedwithbeingbasedinorhavingthesubstantialallofouroperationsinChina,includingthosechangesinthelegal,politicalandeconomicpoliciesoftheChinesegovernment,therelationsbetweenChinaandtheUnitedStates,orChineseorU.S.regulations,allofwhichmaymateriallyandadverselyaffectourbusiness,financialconditionandresultsofoperations.Anysuchchangescouldsignificantlylimitorcompletelyhinderourabilitytoofferorcontinuetoofferoursecuritiestoinvestors,andcouldcausethevalueofoursecuritiestosignificantlydeclineorbecomeworthless.ThePRCgovernmenthassignificantauthoritytoexertinfluenceontheabilityofacompanywithsubstantiveoperationsinChina,suchasus,toconduct itsbusiness,acceptforeigninvestmentsorlistonaU.S.orotherforeignexchanges.Forexample,wefacerisksassociatedwithregulatoryapprovalsofoffshoreofferings,anti-monopolyregulatoryactions,oversightoncybersecurityanddataprivacy.Asofthedateofthisprospectus,wedonotbelievethatwearesubjectto(a)thecybersecurityreviewwiththeCyberspaceAdministrationofChina,orCAC,aswedonotqualifyasacriticalinformationinfrastructureoperatororpossessalargeamountofpersonalinformationinourbusinessoperations,andourbusinessdoesnotinvolvedatapossessingthataffectsormayaffectnationalsecurity,implicatescybersecurity,orinvolvesanytypeofrestrictedindustry;or(b)mergercontrolreviewbyChina’santi-monopolyenforcementagencyduetothefactthatwedonotengageinmonopolisticbehaviorsthataresubjecttothesestatementsorregulatoryactions.However,sincethesestatementsandregulatoryactionsarenew,itishighlyuncertainhowsoonlegislativeoradministrativeregulationmakingbodieswillrespondandwhatexistingornewlawsorregulationsordetailedimplementationsandinterpretationswillbemodifiedorpromulgated,and,ifany,thepotentialimpactsuchmodifiedornewlawsandregulationswillhaveonourdailybusinessoperation,abilitytoacceptforeigninvestmentsandlistingofoursecurities.Inparticular,asweareaholdingcompanywithsubstantivebusinessoperationsinChina,youshouldpayspecialattentiontodisclosuresincludedinourmostrecentannualreportonForm10-Kincorporatedbyreferenceinthisprospectusandriskfactorsincludedherein,includingbutnotlimitedtoriskfactorsuchas“RiskFactors—RisksRelatedtoOurCorporateStructure”and“RiskFactors—RisksRelatedtoDoingBusinessinChina”. ThePRCgovernmenthassignificantoversightanddiscretionovertheconductofourbusinessandmayinfluenceouroperationsasthegovernmentdeemsappropriatetofurtherregulatory,politicalandsocietalgoals.ThePRCgovernmenthasrecentlypublish