The company’s fulfillment centers are also in the spotlight in a different way following Amazon.com’s big profit miss yesterday. Thomas Szkutak, the company’s chief financial officer, explained on a conference call with analysts that the company is adding centers at a rapid pace to keep up with its growing business, contributing to increased expenses that are cutting into its bottom line.
The company plans to develop more products for younger consumers this year. On the anvil are convenient tea packs and colorful wrapping, Mei said.
The company's R&D expenditure increase was just behind Amazon, which rose 210 percent during the 5-year period.
The company will upgrade its middle-end medical insurance product with an insurance amount above 1 million yuan (5,150) to cover more people aged between 61 and 65, she said.
The company's globalization continues to accelerate.
The company pledged to reach 80% renewable energy for its global infrastructure within five years, and use entirely renewable power by 2030.
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The comprehensive index of entrepreneurship and innovation, a gauge used by the bureau, was at 111.4 in 2017, up 11.4 points year-on-year. The index measures policy environment, resources such as capital and talent, market vitality, patent numbers and growth powered by new forms of economy.
The company mentioned Ge's name several times by saying "Ge You-esque slouching" in photo captions, according to the statement.
The company said it had signed deals with over 10 cinema operators, including Wanda Cinema, Evergrande Cinemas, UME International Cineplex and Poly International Cinema, and is expected to provide more than 7,000 mini karaoke booths called WOW mini KTV in those cinemas by the end of 2017.
The company's manufacturing base in China produces and exports glass. More such plants are likely to be set up in South America and elsewhere across the world in the years to come, according to senior company executives.