The company's stock traded over the counter.
The company was faced with the patent to its pants expiring in 1890, so it developed a logo to be sewn on the back of its pants to identify them: the image of two horses, each pulling in the opposite direction on the same pair of jeans, trying in vain to tear them apart. The pants were called "The Two Horse Brand" until 1928, when the company adopted its Levi's trademark.
The company said it will not grow as rapidly this year as it did in the first half of 2019. "We will have nothing to rely on but the hard work of our people, as well as the ongoing trust and support of our customers and partners," Xu said. "Survival will be our first priority."
The company's Chinese business generated more than million in 2017 from .5 million in 2015. It expects to see even faster revenue growth in China in the next five years.
The company said that its business was strong, and the decision to shut down had nothing do with its performance. Shutting down the brand means 18 people will lose their jobs.
The company said this represents its first overseas delivery after resuming work since the outbreak of the novel coronavirus (COVID-19) and the 17th aircraft that the plant has produced for overseas clients.
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The company's performance forecast showed net profit, excluding non-recurring items, could reach 3.18 billion yuan (2 million) last year, thanks to China's booming new energy vehicle (NEV) market. CATL is a company listed at Shenzhen Stock Exchange.
The company said it has transferred its interest in the 470-million-pound (3 million) development to Hong Kong-listed R&F Properties and CC Land.
The company said it allows employees to work from home and seeks to negotiate with clients.
The company raked in 2.89 billion yuan (9.5 million) in net profits attributable to shareholders in Q1, up 3.9 percent year-on-year, according to its Q1 financial report filed with the Shanghai Stock Exchange.