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The company’s traditional retail rivals, including Walmart, Best Buy and Target, are spending big on their own e-commerce and shipping initiatives in an effort to keep up with the e-commerce juggernaut.

The company suffered losses of .4 billion in the fourth quarter of 2018, largely driven by the plunge in paper value of several of its stock investments, revealed its annual report released Saturday.

The company said it will ramp up resources to explore opportunities in energy, transportation, public utilities, radio and television and other sectors that internet of things technology will revolutionize.

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The company runs Fenqile, an installment-focused shopping platform.

The company this morning announced its own virtual currency called Amazon Coins — jumping into the world of online credits by giving its customers a new way to buy apps, games and in-app items starting with its Kindle Fire tablet. The company says it will give consumers “tens of millions of dollars’ worth” of free Amazon Coins when it launches the virtual currency in May.

The company's international business has also experienced rapid development with milestone projects in recent years like the Chashma nuclear power plant project phase I in Pakistan, China's first overseas nuclear power project.

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The company's performance in the first half of this year has been encouraging. According to Metersbonwe's financial report, revenue during this period increased 35.96 percent year-on-year to hit 3.94 billion yuan. The company also increased its retail space by 120,000 square meters.

The company offers artificial intelligence-backed technologies to help self-driving vehicles better comprehend the surrounding environment and make decisions, to increase automation, lower the incidence of traffic accidents and ensure people's safety, it said.

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The company sold 508,600 vehicles in 2017, a growth rate of 37 percent year-on-year. In the first two months of 2018, GAC Motor sold 95,136 cars, a 20.3 percent rise from the same period last year.

The company will continue to bank on a network of internet celebrities to promote different merchandise to users of various nationalities. Social media personalities will become skilled at converting their influence into cash while helping to boost the revenue of merchants, Wang explained.