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The company’s rise over the past decade has been nothing short of remarkable. Many analysts thought Amazon wouldn’t survive the dot com bust, including one who famously dubbed the company “Amazon.toast.” But since that period 10 years ago — a distant memory before it launched Kindles or Amazon Web Services — the stock has risen 2,498 percent.

The company is the latest of China's wireless carriers to have revealed better-than-expected performances last year, which may reduce some financial pressure as they are ready to build the network for 5G, or the fifth-generation mobile communication technology, experts said.

The company said it has launched a car-hailing service in Russia earlier this week, marking the first European market in its global road map as it looks to outpace rivals such as Uber Technologies Co. The services will initially be available in southwestern Kazan, the capital and largest city of the Russian Republic of Tatarstan, home to the country's largest IT park.

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The company vowed to build a preliminary basis of the ubiquitous IoT by the end of 2021.

The compensation request was in four parts: 10.9 million yuan for Li's wrongful detention, 20 million yuan for his mental anguish, 10 million yuan for his physical punishment and 500,000 to cover the appeal's fees, his lawyer, Liu Chang, told China Daily.

The company says it now commits 10 percent of its annual revenue to R&D.

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The company is already popular in Zambia, where it has been operating since 2015. It hopes to replicate its success in Kenya and then the East African region.

The company initially filed for US listing on Sept 30. Under the ticker symbol DAO, the Hangzhou-based company plans go public on the New York Stock Exchange.

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The company will give full play to the newly operational high-speed rail routes and scale up efforts to enhance transport capacity to deal with the rush, as well as improve services, it said.

The company now aims at the research and development of 5G-related new products as this year will see wide commercial use of 5G globally. It is also speeding up entry into the global supply chain of high-end smart car manufacturers.