The company, affiliated with the University of Science and Technology of China, a premier school in the country, is partnering with Shanghai High People's Court to test the smart trial system.
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 said it believed the partnership with Tianjin University complements Clariant Catalysts' existing cooperation agreements with top educational and research institutions in China. All these will benefit the local Chinese market.
The company’s shares rose 6 percent to 3.50 in after-hours trading.
The company is planning to invest in countries such as Panama, Guinea and Suriname, he added.
The company's spend on R&D rose by more than 60 percent year-on-year to 205 million yuan (.7 million) last year, according to its 2018 fiscal report released in late April.
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The company saw an 88 percent jump in revenue to reach 3.25 billion yuan (0 million) in the fiscal year of 2018, with gross profits hitting 890 million yuan, up 57 percent year-on-year.
The company’s conference call with analysts begins at 2 p.m., available for streaming here. Here’s the full release from the company in the meantime.
The company launched a series of initiatives at its annual news conference in Shanghai during the China Refrigeration Exhibition 2019, held from April 9-11.
The company said the net has been sold throughout Australia and Malaysia and enquiries have been received from countries including Turkey, Brazil and South Africa.