The company logo of Ping An Insurance is seen in Beijing, China, August 27, 2020. [Photo/Agencies]
The company sold 20,825 H5 models and 9,175 H7 models, surpassing the sales target the company set for this year, it said.
The company's 5G-ready Ultra-Wide Band (UWB) Radio Family won the award for Best Mobile Infrastructure; the 5G-ready Cloud AIR Solution Sprint was a joint winner of the Best Technology Breakthrough award and was also the CTO's choice for Outstanding Mobile Technology. The company's 5G Core Solution was considered the best network software breakthrough.
The company said earlier that it had found a conglomerate oilfield with an estimated one-billion-ton of reserves in the Junggar Basin in the Xinjiang Uygur autonomous region, with proven reserves of 520 million tons, part of its efforts to step up domestic exploration and development.
The company inked strategic cooperation with IE Singapore and UrWork to expand its co-working startup partnership. With Han Hai Holdings, it will create C31 Ventures China to establish innovation centers and incubate technology startups.
The company's net profit dropped 23.8 percent to 2.79 billion yuan (9.46 million) during the first nine months of the year.
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The company spent an estimated .2 million on a recent promotion of Lady Gaga’s new album, an effort to drum up support for its new Cloud Drive music service. Earlier this year, it gave away free video streaming to members of its Amazon Prime service.
The company is now feeling the pinch of competition from other Chinese leading brands like Oppo, Xiaomi and other less-known Chinese smartphone brands, Chowdhury added.
The company owns diversified business interests, focusing on aviation, tourism, logistics and financial services with operations worldwide.
The company will continue promoting its localization strategy and expanding business in the country, he said.