The company monetizes primarily through the sale of virtual items, provision of various forms of online marketing services, and commissions from e-commerce sales on the platform. It is actively developing additional monetization opportunities to diversify revenue streams through online games, online knowledge-sharing and other products and services.
The competition does not worry Zhang. "I'm confident that the unmanned delivery service is an irreversible trend. People must adapt to changes brought by the technology."
The company's business is not so much about electric cars, as the technologies such as connectivity, artificial intelligence and autonomous driving give the company a chance to make the car smarter, according to Breitfeld.
The company's net profit attributable to its equity holders stood at 41.21 billion yuan (about .81 billion) last year, said its financial report filed to the Shanghai Stock Exchange Tuesday night.
The company produces about one-third of the world's cashmere and reported that sales revenues declined 15 percent between 2012 and 2015.
The company is among earlier adopters of the digital wave in China, whose endeavors are best exemplified by the recent setup of a dedicated office with Chinese internet giant Alibaba in Hangzhou. The aim is to customize products based on the predilections of self-expressive Chinese consumer groups using data analysis.
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The company, for instance, is going to launch its top-end luxury project "Loong Palace" in Beijing,as one of its latest efforts in exploring the region.
The company published a read-to-pay report forecasting the investment trend for this year at the Newtop 100 CEO Summit 2017 in Beijing on Saturday. The free-for-charge era of the internet sector has ended, he said.
The company was founded by?Apoorva Mehta, a former software design engineer from Amazon’s Fulfillment Optimization division. But it doesn’t use big trucks and massive warehouses to deliver groceries to their customers. Instacart relies on “personal shoppers” – contractors armed with special training and a smartphone app – to pick up deliveries from local grocery stores like Safeway, Costco and Whole Foods and deliver them to a user’s door.
The company says Bartell Drugs delivery will be available initially?in many Seattle neighborhoods, including the area?from?Sammamish to Renton on the Eastside, and in Seattle from Columbia City to the University of Washington. Prime Now customers?can enter their zip code in the Prime Now site or app to see if they are eligible for Bartell Drugs delivery. Amazon says more areas will be added soon in the Seattle area.