BAIYU Secures $60 Million Electric Lithium Battery Contract in the U.S. Market

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.

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