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The company's revenue rose by 1 percent to 28.2 billion yuan (.2 billion) in the third quarter, which beat analysts' estimates of 27.5 billion yuan on average, according to IBES data from Refinitiv. Net income attributable to Baidu was 13.7 billion yuan.

The company now has more than 27,000 employees worldwide and is involved in more than 20 vertical industries. In the past, servers dominated Inspur's business, but a month ago, Inspur released a new strategy to expand its cloud-computing products and services.

The company will join hands with content providers such as internet giant Tencent's online video service platform v.qq.com, video-streaming site iQiyi.com, online news aggregator Toutiao and the country's largest online travel agency Ctrip.

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The company raked in 16.18 billion yuan (.3 billion) in net profit, with revenue rising 7.7 percent year-on-year to 220.39 billion yuan, according to the company's semi-annual report.

The company, known in Asia as "Tiger Brokers," trading under the ticker symbol of "TIGR," announced its IPO of 13 million American depositary shares (ADSs), each representing 15 Class A ordinary shares, at a price to the public of per ADS.

The company's smart agriculture system can provide smallholders and farm owners with meticulous production management solutions from seeding, fertilizing, crop protection to harvest, Gong said.

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The company's operating revenue in the second quarter totaled 23.51 billion yuan, up 25.4 percent year-on-year. Its total operating revenue in the first half of 2020 stood at 35.93 billion yuan, down 13.17 percent.

The company said it is actively promoting the development and application of cutting-edge technologies. At present, TCL owns 28 research and development institutions and more than 10 joint laboratories around the world.

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The company said it would continue to grow its business before the provision took effect, adding that the provision would not affect private BYD costumers or state projects that did not use federal transit money for their purchases.

The company is separately planning drive-up grocery stores in Seattle’s Ballard neighborhood and other locations, although it hasn’t revealed official details of those. A previous report by Business Insider, citing internal Amazon documents, said the company sees room in the U.S. for up to 2,000 Amazon grocery and convenience stores over the next decade.