BAIYU Holdings, Inc. (BYU) saw a dramatic stock decline on Wednesday following the announcement of a strategic partnership with Adler International for the construction of charging and battery swap stations in Cairo, Egypt. Despite the ambitious project’s scale and government funding, investors reacted negatively to the news.
BAIYU Holdings, a leading B2B e-commerce platform, has secured a major $60 million contract to supply electric lithium batteries to Feng’s Auto Parts in the US. This deal marks BAIYU’s entry into the US market and signifies the company’s commitment to expanding its presence in the energy sector. Following the announcement, BAIYU’s stock price surged by 22.73%.
