The company said plants in Mexico that build pickup trucks and transmissions have ground to a halt. GM laid off 6,000 workers at a plant in Silao. On Monday, GM said it was temporarily laying off a further 415 workers at a propulsion plant in the city of Ramos Arizpe.
The company launched its WOW mini KTV programs at the end of 2016, to cater to younger generations. Now it has around 10,000 mini KTV booths in public areas nationwide.
The company now has plans to open several delivery routes within the next two to three months with China Post along the country's eastern coastal regions and is waiting for approval from civil aviation authorities, Liu said.
The company's road to IPO was marred by several hurdles including increased regulation in several countries and fights with its drivers over wages.
The company's announcement came on the same day its subsidiary, China Mobile Logistics, unveiled a major plan to cooperate with leading logistics companies, including SF Express and DHL, to strengthen its business.
The company reported profit of 14.4 billion yuan (.1 billion) in the first quarter of this year, a record high for Tencent's quarterly earnings. Revenue soared 54.8 percent to 49.6 billion yuan.
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The company secured the No 2 spot for another quarter. While its market share was down slightly from last quarter's 15.9 percent, Huawei still shipped 52 million handsets and grabbed 14.6 percent of the global market share.
The company said on its website that 99.9 percent of Walmart China employees are Chinese nationals and all of its China store managers are Chinese.
The company saw steady growth in online music paying users in the fourth quarter of 2019, up 47.8 percent year-on-year to 39.9 million, increasing by 4.5 million quarterly, compared with growth of 4.4 million in the previous quarter.
The company vows to further boost its international business in both developing and developed countries, which currently accounts for 5 percent of the company's profile.