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The company will open four to five stores annually over the next three years in the country. It has 50 stores across the country.

The company recently started building an intelligent agriculture cloud platform with Russia New Century Agriculture Technology. Based on HanClouds Technology's industrial internet, the platform can carry out big data analysis on agricultural equipment, aiming to apply intelligent management.

The company will also further improve the transmission ability of its power grid by putting more ultra-high-voltage direct current lines into operation and upgrading the capacity of existing lines.

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The company plans to offer its IPO of 2,500,000 ordinary shares (or 2,875,000 ordinary shares if the underwriters exercise their over-allotment option in full) at a price range of .50 to .50apiece, according to its prospectus filed Thursday with the US Securities and Exchange Commission.

The company said on Sunday it has not yet received any notification on changes to the projects, debunking rumors that all the contracts for projects in the new area became invalid after Saturday. The projects are still in the stage of planning and positioning, the company said in a regulatory filing.

The company saw steady growth in online music paying users in the fourth quarter of 2019, up 47.8 percent year-on-year to 39.9 million, increasing by 4.5 million quarterly, compared with growth of 4.4 million in the previous quarter.

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The company is waiting for regulatory approval for its initial public offering in Shanghai to raise about 19 billion yuan (.8 billion). It already floated shares in Hong Kong in a .3 billion IPO in 2015.

The company is planning to invest in countries such as Panama, Guinea and Suriname, he added.

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The company says 90 percent of people working in its U.S. fulfillment centers are regular, full-time employees, when calculated as an average for the entire year. That is the same ratio of regular employees to seasonal workers as the company reported in past years.

The company’s cloud business is giving new hope to investors. The stock is up nearly 50% over the past two years. Even Goldman Sachs admitted they were wrong.