The company said on Friday it has suspended the planned purchase of Le Vision Pictures, a filmmaking arm of LeEco, and will hold a briefing on Tuesday related to the termination of a reorganization of the company's major assets and operating situation.
The company reported its net revenues for the third quarter of this year reached 174.2 billion yuan (.7 billion), an increase of 29.2 percent compared with the same period last year. It will continue to invest in technology and infrastructure to enhance its user experience.
The company said the move was part of a planned transition. In April, PayScale raised an undisclosed amount of money in a funding round that valued the company at 5 million.
The company's revenues increased to .7 million for the year ended Sep 30, 2017 from .7 million for the same period a year ago, while its net income increased to .5 million for the year ended Sept 30, 2017 from .3 million a year ago.
The company, owned by the State-owned tourism giant, will run the airport's eight duty-free shops spanning 3,400 square meters for seven years until 2024, in a joint venture with French travel retailer Lagardère Services under a new brand of Duty Zero by CDF.
The company pulled clear of second-placed BYD Co Ltd, which accounted for 17.35 percent. Behind BYD were Shenzhen-based Optimum-Nano Energy Co and Hefei Guoxuan High-Tech Power Energy Co Ltd.
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The company invested 100 million yuan (.2 million) in its Tianjin production base and its annual production capacity could hit 300,000 units with an industrial revenue of up to 1.8 billion yuan during the first phase of the project.
The company's new models are so similar to last year's lineup they may be upstaged by Apple TV Plus, the company's upcoming video service, which is rolling out on Nov 1 at per month.
The company is currently working on developing autonomous driving, intelligent medical treatment, and deep learning hardware optimization.
The company, a pioneer in this Caribbean nation, supplied 3 million electrical appliances to Cubans between 2003 and 2006 as part of a social program known as the Energy Revolution.