Chengdu, June 12, 2024 / PR Newswire / - Recently, Blue Hat Interactive Entertainment Technology (Nasdaq: BHAT, hereinafter referred to as "Blue Hat"), a company listed on the Nasdaq, and Sichuan Jin Yinghe Industrial Co., Ltd. (hereinafter referred to as "Jin Yinghe") announced the signing of a framework cooperation agreement to jointly establish a leading gold supply chain company. The cooperation aims to integrate industrial resources and international financial capital to solve the many problems currently facing the gold industry, promote the transformation and upgrading of the gold industry, and create a comprehensive and efficient gold supply chain system.
In recent years, with the changes in international politics and economic situation, central banks of various countries have stored a large amount of gold and gold prices have risen rapidly. The company's management believes that the gold industry has shifted from a high-speed growth stage to a high-quality development stage, ushering in strategic development opportunities. However, there are still many problems in the gold industry, such as the low degree of scale and intensification, narrow traditional financing channels, poor operating norms, and missing credit data. These problems hinder the healthy development of the gold industry. In order to effectively address industry pain points, Blue Hat and Jin Yinghe have decided to collaborate to establish a company focused on the gold supply chain business.
According to incomplete statistics from industry insiders, the annual trading volume of gold in the Shuibei market in Shenzhen has reached trillions of RMB. The new company will use market-oriented operation methods to expand the source channels of gold and provide services such as gold leasing and on-account selling for enterprises in need, promoting the development of the real economy. It is expected that in the next three years, the new company will occupy more than 10% of the Shuibei market share in Shenzhen and achieve RMB sales of billions.
The Jin Yinghe management team said: "We are very pleased to be able to cooperate with Blue Hat, such an international company. We will jointly promote project implementation in various aspects such as business architecture design, operation process implementation, and risk point sorting. On the premise of strict risk control, both parties will create an international gold supply chain leader, create good economic benefits, build a leading gold supply chain system, provide high-quality and efficient comprehensive services for gold industry customers, and promote innovation and development of the gold industry."
Mr. Chen Xiaodong, CEO of Blue Hat, added: "Cooperating with Jin Yinghe, a company with many years of experience in gold trading and supply chain management, is another important step for us after obtaining Class A licenses for precious metals and gemstone traders from Hong Kong Customs. We will introduce international resources and work with Jin Yinghe to open up gold circulation channels in relevant countries and regions (including but not limited to Southeast Asia and the Middle East). The successful operation of this project will enhance Blue Hat's operational strength and market influence, and also provide a good platform and opportunity for participants in the gold business, effectively promoting the upgrading of the gold industry."
Through this cooperation, Blue Hat and Jin Yinghe will jointly lead the transformation and upgrading of China and even the world's gold industry, and help the gold industry move towards a new stage of development.
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Blue Hat Interactive Entertainment Technology
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