The company said in January that it planned to launch 18 new models in the country during 2020.
The company's board of directors will review the share repurchase program periodically, and may authorize adjustment of its terms and size.
The company scaled down its sales target to 1.32 million vehicles, down from 1.41 million. The new goal, if reached, will represent a 3 percent fall from its sales in 2019.
The company's total revenue for the second quarter reached 26.3 billion yuan (.84 billion), rising 1 percent year over year, Baidu said in a statement. Data from Refinitiv showed analysts on average had expected revenue of 25.8 billion yuan.
The company started trading at .40 per share on Tuesday, rising 2.9 percent from its pricing, and was traded at .11 apiece around midday.
The company will have a green approach to deliveries in China. While Ikea uses new energy vehicles in five Chinese cities for deliveries at present, it will have all its goods delivered by NEVs in 17 Chinese cities from next year, said Liu Rui, vice-president of Ikea China.
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The company will hold a grand livestreaming event on Thursday to showcase its latest technologies and products to international buyers.
The company's stock price surged by 44.03 percent to reach 6.64 yuan (The company logo of ChemChina, is seen at its headquarters in Beijing on Feb 3, 2017. [Photo/Agencies].98) per share shortly after the stock market opened and remained at the upper limit for IPO share price growth for the rest of the trading time.
The company intends to list on the New York Stock Exchange under the ticker symbol "CMDS," with an expectation to raise up to 0 million, according to its prospectus filed with the US Securities and Exchange Commission late Friday.
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