The company, a so-called rival to Starbucks Corp in China, said on April 2 the internal probe revealed the aggregate sales amount associated with the fabricated transactions from the second quarter of 2019 to the fourth quarter of 2019 amounted to around 2.2 billion yuan.
The company produces American ginseng and distributes it as roots, tea, capsules and other products at home and abroad.
The company sees growth opportunities from home appliances, cold chain, and pharmaceuticals industries in China. It signed a memorandum of strategic cooperation with Chinese home appliance giant Hisense Group to collaborate on building an integrated logistics ecosystem and help build the country's leading internet logistics network platform.
The company's stock price climbed last week because investors believed the federal loan package would ease cash-flow concerns. But the stock has dropped over the last several days after analysts warned more airlines may cancel orders, and demand for air travel showed no signs of rebounding.
The company's financial report said revenue grew 15.3 percent year-on-year to 1.5 trillion yuan (9.8 billion) in the first six months of 2019.
The company submitted the required materials to the local industrial and commercial bureau in October and received the loans in just over half a month, according to Liang.
石家庄网站排名优化
The company is also driving innovation in a "in China for China" manner, and believes that "domestic industries in combination with international industries" are the right way of doing it.
The completed 845 km Sino-Thai railway will not only provide access to the agriculture base in the northeast of Thai and harbor in the south, but also reach Sino-Lao rail at the northeast end and then spread to the whole Southeast Asia in the future.
The company plans to set up branches and expand both its English and Chinese business in 10 cities abroad including Seoul, Tokyo, London, Singapore, Madrid and Buenos Aires in the next three years.
The company reported significant sales growth in every of its key global markets. North America retained top status (around a third of global sales) followed by China and Europe.