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The company is taking a fresh step in the European clean energy market after purchasing an 80 percent stake in a 288 megawatt offshore German wind farm operator, WindMW from US private equity firm Blackstone Group for around .8 billion, which CTG described as one of the most promising offshore wind businesses in Europe.

The company, which is based in Southwest China's Guizhou province, has also set a target of 50.5 billion yuan in net profit this year, up 10 percent compared with last year, according to a conference held by Kweichow Moutai Group.

The company was fined 300,000 yuan (,750) for publishing harmful images on April 19, and its website is still closed.

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The company said it saw a positive trend in fourth-generation network data customers, with the number of 4G subscribers rising to 695 million with a net increase of 45.78 million in the first three quarters.

The company, which excels in image processing and computer vision technology, said the new phone, dubbed "Darling", can deliver immersive entertainment experience as consumers can use it to capture 720-degree VR photos and videos by just touching a virtual button. The model Protruly unveiled last year can only support 360-degree photos.

The company logo of Sinopec is displayed at a news conference in Hong Kong, March 26, 2018. [Photo/VCG]

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The company plans to increase investment in China and expand new business, including integrating Chinese 5G technology into new designs, Colombo said.

The company's performance started to rebound in recent years after its sales hit a low point due to problems found in its services and some products. It sold a record 291,000 Jiefang trucks in 2017.

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The company is proposing to increase the number of ordinary shares eightfold to 32 billion, it said in a statement. The proposal will be discussed and put to a vote at its annual general meeting in Hong Kong on July 15. If approved, the split should take effect no later than July 2020.

The company signed a Memorandum of Understanding (MoU) on further cooperation with the Administration Committee of Guangzhou Nansha Development Zone earlier this month, emphasizing SABIC's long-term commitment in China.