The company, which went public in Hong Kong 10 years ago, started off with a messaging platform called QQ, but has expanded into e-commerce, gaming, messaging, social networking?and more.
The company said in its earnings report filed to the Shenzhen Stock Exchange on Friday that it realized a net profit of 1.86 billion yuan (1 million) attributable to common shareholders in the first half of 2020, up 26.3 percent year-on-year.
The company said the move will give customers more flexibility and redundancy in Europe, with two separate zones in Germany. Amazon?also gave?privacy assurances, outlining its practices for helping customers comply with EU data protection requirements.
The complex international environment is the main characteristic of the new era, as the world is fragmented by diverse problems and challenges, he said.
The company said its business model helps to lower customers' rental costs, reduces the total number of vehicles in the city and eases pressure on the environment.
The company, formed in 2015 from the billion merger of Meituan and Dianping, is looking to benefit from the bull run in technology stocks.
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The company's valuation now stands at 752 billion yuan. Earlier, it became the first consumer stock with a market value exceeding 1 trillion yuan.
The company is also responding to the great changes in the automotive industry with its "Future Brose" program, which will change the structure of the company by 2023.
The company will reduce production of NV Cargo and Passenger vans from two shifts to one.
The company's first quarter net profit margin stood at about 8 percent, slightly higher than the same period last year.