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The company's earnings in China are partly driven by the stronger spending power of local consumers. Consumption power in lower-tier cities, in particular, has been revving up, according to Koay.

The company ranked 161st among the Fortune Global 500 companies in 2019 and 31st among the Top 500 Enterprises of China.

The company said that its Latin American market is rapidly expanding, and other BYD solutions such as its pure electric buses, taxis and trucks are successfully serving markets in many countries across the region, including Chile, Brazil, Colombia, Argentina, Peru and Uruguay. Globally, BYD's electric vehicles have spread to over 300 cities in more than 50 countries and regions.

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The company's share price went down 0.21 percent to end at 51.1 yuan on Thursday.

The company intends to use the net proceeds of this offering primarily for expansion of its businesses, development and introduction of new mining machines, corporate branding and marketing activities and general corporate purposes.

The company now has plans to open several delivery routes within the next two to three months with China Post along the country's eastern coastal regions and is waiting for approval from civil aviation authorities, Liu said.

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The company's net profit jumped to 9.3 billion yuan (.3 billion) from 7.1 billion yuan in the same period last year, according to its interim results report filed to the Shenzhen Stock Exchange on Friday.

The company invested billion last year to the project.

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The company's European expansion comes at a time when many other Chinese telecommunications companies are also expanding into the United Kingdom.

The company intends to make its point-of-care testing available by March 30, according to the FDA.