The company's optimization of manufacturing operation and expenditure reduction during the first six months also helped, it said.
The company spends heavily on R&D to develop specialized products with higher profit margins. Shen sees future infrastructure programs, such as 5G and smart cities, as key to the company's future.
The company said the email service under the new 88 brand mainly targets small and medium-sized enterprise users, freelancers and college students looking to enter the job market.
The company is looking to use its prowess in technology and artificial intelligence to carve out a niche in the fitness tracker market, competing against established players such as Fitbit, Garmin and Xiaomi, as well as fitness tracking features in smart watches from fellow tech giants Apple and Samsung.
The company opened its second international store in Shanghai in April following a concept store in Milan where the company's headquarters are based.
The company said it developed the software change prior to Sunday's crash of the Ethiopian Airlines plane that killed all 157 people aboard. The software update will make an "already safe plane safer", the company said late Monday.
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The company posted net profits of 1.94 billion yuan (6 million) in 2017, up from 76 million yuan in 2016. Its revenue was 68.7 billion yuan in 2017, up 23 percent from a year earlier.
The company opened its freight train service linking Wuhan with London in July 2018 and launched services to Belgium and Spain, respectively, on Dec 11 and 13 this year.
The company launched its latest agricultural drone, the T16, on Tuesday, which features an upgraded loading capacity, as well as dynamic systems to increase working efficiency and accuracy. Drone operators who use such drones can spray pesticides on about 10 hectares of farmland an hour.
The company said the number of patents it has filed and received in China and the US has reached more than 1,000.