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The company is taking the step to further reduce the cost of lithium-ion batteries and serve the fast-growing Chinese market for electric vehicle batteries and stationary lithium-ion batteries.

The company said it is expecting to take part in similar projects in other parts of the country.

The company raised 0 million in May, which valued it at slightly over billion, and attracted investors including Australian investment bank Macquarie Group and the Abu Dhabi Investment Authority.

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The company reported net income of .9 billion in the second quarter, an increase of 31.2 percent year-on-year, although it has reported only one profitable quarter since going public in May 2014. JD posted a 4 million loss in its last quarter.

The company's global expansion target is to increase its serviced apartments to 160,000 units by 2023, doubling existing scale according to the company's top management.

The company made its debut on the Nasdaq last week, expecting to raise about 775 million U.S. dollars, the largest IPO (initial public offering) by a Chinese firm in the United States so far this year.

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The company's IPO roadshow will be launched in early September and investments banks responsible for its listing have already sent invitation to investors, people familiar with the matter said, according to a report by thepaper.cn.

The completion of Kariba expansion and implementation of the vast Hwange Thermal Power project will greatly boost Zimbabwe's power supplies and help the country, which faces perennial power shortages, be energy self-sufficient.

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The company said that next year, the number of team members in China serving hosts will more than double and it will accelerate on-the-ground preparation and training for hosts.

The company's annual active customer accounts increased to 321.3 million in the twelve months ending in June 30, up from 310.5 million in the twelve months ending in March 31.