The company said the capital injection will provide important impetus to the buildout of its AI platform, advancing the company's technological innovation and opening up new business opportunities.
The company will also improve passenger travel experience by providing services, including air conditioning in stations and on trains, online meal ordering, and check-in with facial recognition technology.
The company will also recall 25 imported AMG GT automobiles manufactured between March 28, 2017 and July 28, 2017 due to faulty seatbelts.
The company plans to list on the NASDAQ under the symbol "TIGR," with an expectation to raise up to 0 million in the IPO, according to its prospectus filed with the US Securities and Exchange Commission.
The company said that the plan will save about 0 million per year by eliminating bureaucracy and increasing the number of workers reporting to each manager.
The company sold 1,051.8 terawatt-hours of electricity last year, generating revenue of .2 billion, with total assets reaching 3.2 billion, it said.
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The company said earlier it would increase energy supplies to economies related to the Belt and Road Initiative with further investment in countries and regions participating in the initiative.
The company, which operates in more than 30 countries, added that China is one of its fastest-growing markets, with growth hitting double-digit in recent years.
The company was given a “F” grade for its transparency, and it scored a 23 percent on Greenpeace’s Clean Energy Index. That’s a far cry from the company’s other competitors in the public cloud: Microsoft scored 39 percent, while Google scored 46 percent. Apple swept the board with a perfect 100 percent score, keeping up its position at the top of Greenpeace’s report.
The company will issue 9 billion private shares to strategic investors to raise no more than 62 billion yuan (.29 billion), transfer 1.9 billion old shares priced at 13 billion yuan to the structural reform fund and grant no more than 848 million restricted stocks to core employees to raise 3 billion yuan.