The company’s stock is?currently trading at about 5 per share and?is down about 20 percent in the last year.
The company logo of ICBC is seen at Xuchang, Henan province. [Geng Guoqing/Asianewsphoto]
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, based in Shenzhen, China's frontline of reform and opening up, was officially listed on the Shenzhen Stock Exchange on June 1.
The company is reportedly gearing up to announce Alexa-enabled phone service sometime in the next few months. In March, Recode quoted unnamed sources as saying that new hardware optimized for phone calls and in-home intercom?applications is undergoing beta testing.
The company said it will increase the number of its bikes to 750 from an initial 200 over the coming month in Hackney, hoping to provide a blueprint for ofo in the rest of the capital as it looks to address transport options for the "last mile" of travel.
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The company is willing to form industrial alliances with Chinese SOEs and private companies to improve its strength abroad and minimize operational risks, Zhou said.
The company said on Thursday that it has posted 114.3 billion yuan in net profits in the same time frame, up 5.1 percent year-on-year.
The company's ninth LNG terminal entered operation in early August, its fourth in Guangdong, with a receiving capacity of 4 million tons per year.
The company, whose name is abbreviated as LITB, released its April-June quarterly results in late August. Its sales revenue rose 96 percent year-on-year to 3.9 million and generated a profit of .5 million, the highest quarterly gain since it went public in 2013. It was the fourth consecutive quarter that LITB reported positive financial results.