The company headed by Elon Musk this month posted a smaller-than-expected fall in car deliveries in the second quarter, resilient results despite the pandemic that hit the global auto industry.
The company reported its total revenues nearly doubled from 91.8 million yuan (.7 million) in the first half year of 2019 to 185.5 million yuan in the first six months of 2020.
The company's cloud computing technologies and solutions, for instance, have been used to promote the digital transformation of the country's top manufacturers. This has helped traditional manufacturing firms detect malfunctions and manage equipment in real time.
The company said in a filing to the Shanghai Stock Exchange that it is investing 10 million yuan (.47 million) to set up a subsidiary in India, the world's fourth-largest market for vehicle sales by volume. According to a report in India's Economic Times newspaper, the subsidiary's operations may start around 2021.
The company provides farmers with free seedlings and technical guidance to ensure quality. A protective pricing system is also in place to guarantee income.
The company's forecast for RMB against the dollar will also move in the range of 6.7 to 6.9 in the second half of the year.
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The company promoted seven new styles for peak season before Tibetan New Year and stopped accepting orders on Feb 5.
The company statement said net profit jumped about 33.4 percent to 28.05 billion yuan in 2017, while revenue reached 242.9 billion yuan. In addition, its sales value of homes rose 45.3 percent to nearly 530 billion yuan, making it one of the top three developers in China by sales value.
The company is currently operating on a temporary waiver that expires Aug 1.
The company, better known as Sinopec, first set up a mobile ophthalmic hospital called the Sinopec Lifeline Express on a special four-car railway train in 2007 to offer eye surgery training for cataract removal. After some decades of development, the hospital on wheels has provided free medical care to over 46,000 poverty-stricken cataract patients, it said.