The company is reviewing its shareholding structures in China, also its largest market, as the country will play a different role as the global automotive industry is shifting to electrification and connectivity, said CEO Herbert Diess last week in Wolfsburg, Germany.
The company now has six approved drugs, eight new drug applications pending in China, and over 40 clinical candidates and commercial-stage assets.
The company, together with Country Garden, one of China's top real estate developers, is to invest 50 billion yuan (.5 billion) to build an international ocean theme park in the county-level city of Wuchuan in Zhanjiang.
The company said the deals show its willingness to?cooperate deeper with partners on the global industrial value chain, which?is good for the healthy development of both Chinese and the international steel industry.
The company is expected to export 10 metric tons of phycocyanin products a year, with a total value of more than 10 million yuan (.5 million).
The completed projects included more than 3,000 service centers across China for harvested grains and more than 400,000 grain storage facilities. The service centers provided services for farmers ranging from grain cleaning, drying, storage and processing to sales, and had played an increasingly important role in improving the quality of grains sold on the market and reducing losses during storage and distribution, Chao said. And that helped farmers increase their incomes.
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The company said it will raise the minimum age to purchase guns in its stores to 21 and will stop selling high-capacity magazines.
The company made 274 million yuan (about million) net profit in the first three months, up 88.3 percent year-on-year, according to its first quarter report released over the weekend.
The company's quarter one net profit margin stood at about 8 percent, slightly higher than the same period last year.
The company may face some competition from Missouri-based startup Orange EV, which exclusively focuses on terminal trucks but does not build them from the ground up, instead retrofitting its electric motors into diesel truck bodies.