The company statement said net profit jumped about 33.4 percent to 28.05 billion yuan in 2017, while revenue reached 242.9 billion yuan. In addition, its sales value of homes rose 45.3 percent to nearly 530 billion yuan, making it one of the top three developers in China by sales value.
The company's interest in the Chinese market comes at a time when China is enhancing efforts to clean up the choking air, replacing fossil fuels with renewable energy.
The company, which is based in Fuzhou, Fujian province, already offers its education services in 192 countries and regions including the United States, the United Kingdom, Indonesia and Turkey and has accumulated nearly 100 million users.
The company will recommend products with excellent quality and reasonable prices to customers by utilizing big data technology and analyzing commodity sales, user ratings, brand influence and price information.
The company secured an extension until 2020 from a former vice-chairman of Guangzhou Pharmaceutical, Li Yimin, who was later convicted of taking bribes from JDB.
The company made 274 million yuan (about million) net profit in the first three months, up 88.3 percent year-on-year, according to its first quarter report released over the weekend.
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The company said in a statement that when students enter the school, the time and date is recorded along with a short video that parents can access via a mobile app.
The company supplied a record 7.4 billion cubic meters of natural gas last winter from the underground storage facilities, a 21 percent jump from the previous year to ease the pressure of peak gas demand in winter.
The competition in the domestic home appliance market is fierce, and the price decline of major TV products has resulted in a decreasing profit margin and increasing pressure on enterprises, said Zhu Yuanyuan, head of the electronic products division at AVC.
The company’s Ring subsidiary, which was hit with a series of security issues last year, announced new end-to-end encryption for video, as well as a new Ring Car Alarm and Car Cam for auto security, along with an API dubbed Ring Car Connect for implementation by auto manufacturers, starting with Tesla.