The company's various e-commerce platforms, including Taobao and Tmall, provided about 15.58 million jobs for online retailers in 2018, according to a report from Renmin University of China.
The company's link with Indian companies dates back to the China Import & Export Fair, the Canton fair held in 2013, when the company signed an order for 40-denier yarns.
The company plans to bring 10 innovative medicines to China in the next seven to eight years.It also aims to get approval in China simultaneously to other countries and regions, so that Chinese patients will have timely access to its medicines.
The company is based in Irvine with manufacturing operations in Moreno Valley, California. It is owned by Chinese automotive supply company Wanxiang Group.
The company statement said net profit jumped about 33.4 percent to 28.05 billion yuan in 2017, while revenue reached 242.9 billion yuan. In addition, its sales value of homes rose 45.3 percent to nearly 530 billion yuan, making it one of the top three developers in China by sales value.
The company will collect the raw material every three to seven days. It will be boiled and pasteurized under high temperatures before being turned into household paper, according to Zhou Chuanping, the company's deputy general manager.
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The company held its BYD Worldwide Developer Conference in Shenzhen on Wednesday, the first of its kind in the industry. It launched its car app platform D++ at the event.
The company is cooperating with Germany's BMW, Volkswagen and Bosch and providing them with its LiDAR products to use in their autonomous driving systems. The cooperation also involves extensive demonstration and testing.
The competition in the domestic home appliance market is fierce, and the price decline of major TV products has resulted in a decreasing profit margin and increasing pressure on enterprises, said Zhu Yuanyuan, head of the electronic products division at AVC.
The company said it would continue to advance its internationalization strategy to bring homegrown innovation from China to new markets in the future.