The company owns 11 mostly high-end shopping centers in China.
The company, which plans to invest 40 million yuan in research and development, will have a tax deduction of 10 million yuan in its corporate income tax, according to Lin.
The company's former CEO Qian Zhiya and former COO Liu Jian allegedly participated in the fabricated transactions.
The company said during third quarter earnings last week that it expects revenue in the fourth quarter between 2 and 1 billion. That year-over-year increase of 28% to 38% would result in Amazon’s first ever 0 billion-plus quarter.
The company poured another 1 billion yuan into it earlier this year, bringing its total investment to 2.85 billion yuan.
The company's online sales accounted for 24.3 percent of its total sales in 2016, with establishment on the country's major online platforms including Taobao, Tmall, JD and Vip.com.
seo优化排名靠前
The company, often called Chinese Starbucks, said it had received a notice from Nasdaq that it will delist the company due to massive sales fabrication, according to a statement on Tuesday.
The company said it will globally premiere a passenger car with Level 2 autonomous driving functions with a Chinese carmaker at the forthcoming Shanghai auto show later this month.
The company sees a lot of potential in this expansion, and not just because of the competition with Amazon Fresh.
The competition in the 5G market has also intensified, with Huawei, Xiaomi, Oppo and Vivo all scrambling to launch devices that encompass all price segments so as to reach more customers.