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The company's business is strongly driven by its IP. Pop Mart operates 81 IPs, including 12 proprietary IPs. It also concentrates on its revenue from its iconic IPs.

The company reversed to losses in the first quarter of 2020 as the COVID-19 epidemic hurt business.

The company's iQOO, a niche brand set up last March to target young users, rolled out a flagship handset series iQOO 3, which supports both standalone and non-standalone 5G networks and empowered by Qualcomm Snapdragon 865.

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The company said it is deploying a regional data center in Johannesburg, South Africa, from which its cloud services can cover neighboring countries and regions. More data centers are also in the pipeline to extend its reach in the continent.

The company will reduce production of NV Cargo and Passenger vans from two shifts to one.

The company's shares fell 1.57 percent to 3.76 yuan Friday.

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The company's gross assets reached over 300 billion yuan (.2 billion) last year, up about 38 percent year-on-year. Net assets that belong to shareholders of the parent company grew 1.57 percent to surpass 31.6 billion yuan, data from Bohai Capital showed.

The competition among online retailers will focus on logistics, supply chains and new technologies, Cao said, adding e-commerce players should expand their offline consumption offerings and apply more cutting-edge technologies.

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The company?doesn’t regularly break out sales from?online and mobile,?but it has said in the?past?that?digital sales represent roughly 2.5 percent of Target’s revenue (so clearly these?kinds of growth rates?are?easier when working off a small base).

The company will set aside 0 million every year for research to explore application of technologies like industrial digitalization, automatic control and big data in food safety.