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The company made its foray into the global market last year when Chang took his company to the United States to take part in CES -— one of the world's largest technology shows.

The company's subsidiary GAC Motor released its new Qiyun smart SUV last month, an upgraded version of the brand's best-selling GS4 SUV, with multiple smart technology enhancements for a stay-connected mobile lifestyle.

The company will announce the next round of financing very soon, said He, who was an executive at Alibaba before founding the carmaker four years ago.

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The company will replace the faulty engine parts for free. The recall will start on July 31.

The company's 2017 financial results showed that Hangzhou Robam Appliances achieved a year-on-year growth of 20.78 percent, with operating revenue of 7 billion yuan.

The company's rental income reached 818 million yuan, up 17 percent year-on-year, according to the interim report. And the average occupancy rate for investment property under lease achieved about 97 percent, except for one center that just started leasing in Shanghai.

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The company officially unveiled the Small Red Flower Alliance in December 2018, in a bid to provide business clients with professional customer and loyalty management solutions.

The compensation decision made by the Jiangxi High People's Court includes about 3.39 million yuan for Zhang's wrongful detention and 1.57 million yuan for Zhang's mental anguish, said Luo Jinshou, Zhang's lawyer.

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The company's global push also is in line with the demand of financial institutions around the world, which have been stepping up efforts to make digital transformation in a bid to improve services, and lower cost and risks.

The company raked in about 31 billion yuan (about .5 billion) in net revenue in 2018, up 16 percent year on year, according to its unaudited financial report released Tuesday.