The company plans to list on the Nasdaq stock market under the symbol DADA. However, no pricing terms were disclosed. Goldman Sachs (Asia), BofA Securities, and Jefferies are the joint underwriters on the deal.
The company will further increase its investment in Wuhan, deepen cooperation with the city, assist Wuhan in recovering from the novel coronavirus epidemic and realize a new round of development, Zhang said.
The company is also making efforts to enhance robotics and STEAM education by organizing competitions.
The company is also working to incorporate artificial intelligence into more areas of education, such as an interactive learning system and a language ability assessment system that can improve the efficiency of learning and teaching a second language.
The company logo of China National Chemical Corp, or ChemChina, is seen at its headquarters in Beijing, Feb 3, 2017. [Photo/Agencies]
The company logo of the Didi ride-hailing app is seen on a car door at the IEEV New Energy Vehicles Exhibition in Beijing, Oct 18, 2018. [Photo/Agencies]
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The company recently became one of the largest shareholders of China Vanke Co, one of China's largest property developers.
The company provides intelligent solutions that allow diners to send orders and payments online via their smartphones. The system also generates financial statements for restaurant and retail business owners, based on real-time recording and analysis of operational data.
The company told investors on Thursday the business model is still in its “early days,” but Amazon is working to hold onto its industry leading position. The company said it has rolled out more new features so far this year than it did all of last year, at the same time slicing prices eight times since last year.
The company said Champion, Calvin Klein and Under Armour were the top three foreign brands favored by Chinese consumers. Moreover, the sales of household products, personal care and cosmetics saw robust growth.