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The company posted a strong third-quarter report in late July, with quarterly revenue of .7 billion, up by 11 percent year on year, while Apple's net sales in the Great China region increased to .329 billion from .157 billion a year ago.

The complaint may illustrate a point emphasized by Zhang, who says the sharing model does not work in every situation.

The company signed a new lease in April that expanded its presence to include six floors of an office building in the city, according to a report by Xconomy.

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The company, which has an R&D center in Silicon Valley and plans to set up a design studio in Los Angeles, announced move to enter the already competitive US auto market by the fourth quarter of 2019.

The company, founded by serial entrepreneur Lei Jun eight years ago, posted second-quarter net profit of 2.1 billion yuan (9.1 million) on Wednesday, in its maiden financial report unveiled on the heels of its .7 billion Hong Kong listing.

The company's businesses have generated many jobs for the local people, and helped lift more than 2,800 farmers out of poverty.

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The company is also hiring rapidly for software engineering positions and sales/marketing roles for Amazon Web Services.

The company was faced with the patent to its pants expiring in 1890, so it developed a logo to be sewn on the back of its pants to identify them: the image of two horses, each pulling in the opposite direction on the same pair of jeans, trying in vain to tear them apart. The pants were called "The Two Horse Brand" until 1928, when the company adopted its Levi's trademark.

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The company said 70 percent of Arcfox's suppliers are global top 50 companies.

The company's globalization continues to accelerate.