The company is also building its APAC research and development center in Yanzhou to deploy the latest innovations and technologies.
The company's core technology is to produce diversified bicycle handlebars in accordance with ergonomics to avoid sports injuries, said Xu Weiyao, deputy general manager of the business department of HL Corp (Shenzhen), a company producing bicycle parts.
The company's revenue from chemical production rose 1.6 percent year-on-year to 260.5 billion yuan. Sinopec said this was due to an increase in chemical production. Its major product, ethylene, saw a 6.5 percent increase in production to 6.16 million tons.
The company is offering vehicles of different powertrains. Besides electric and fuel cell vehicles, it also has gasoline and diesel-powered vehicles on the market.
The company was started in Founder?Jack Ma’s apartment in 1999, and?formed an entity called?Lakeside Partners, named after the “Lakeside Gardens” residential community where Ma?and the?other?founders started the?company.
The company's annual active customer accounts increased to 321.3 million in the twelve months ending in June 30, up from 310.5 million in the twelve months ending in March 31.
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The completion of the deal saw the Chinese steelmaker acquire the company's United Kingdom and Netherlands assets, saving about 3,200 jobs after the company collapsed and was funded and run temporarily by the Official Receiver, part of the UK Insolvency Service, since it plunged into insolvency last May.
The company’s rapidly growing Amazon Web Services business controls one-third of the world’s public cloud computing capacity, more than Microsoft, IBM, and Google combined.
The company's businesses, including medical devices, pharmaceuticals, consumer health and vision products, saw strong growth since the second quarter of this year. Its medical device sales saw double-digit growth in the second and third quarters, further boosting China's share in the group's global business portfolio.
The company said its business model helps to lower customers' rental costs, reduces the total number of vehicles in the city and eases pressure on the environment.