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The company said it expects to use the net proceeds from the proposed offering to enhance and expand its business operations, for research and development, and for general corporate purposes and working capital.

The comprehensive cross-border e-commerce pilot zones set up in 13 cities by the State Council in 2015 have since made notable progress, with cross-border e-commerce turnover doubling two years in a row. Some of their practices in customs clearance and logistics facilitation have been replicated nationwide and have helped boost entrepreneurship, innovation and industrial upgrading.

The company said its robots have been deployed in large shopping malls, exhibition areas, KTVs, libraries, office buildings, medical institutions, hotels, government buildings and other places to help people.

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The company said this morning that it has promoted 35,000 operations employees this year. (Last year, by comparison, the company said it promoted 19,000 operations workers to manager or supervisor roles.) In addition, the company said a total of 30,000 of employees have now taken part in its Career Choice retraining program, which launched in 2012.

The company, founded with 800,000 yuan (1,000) six years ago, has grown into a heavyweight with a valuation of billion. Sitting on abundant cash and armed with a rich combination of talent and technologies, Didi now aims to revolutionize transportation globally.

The company said the downgrading of the forecast could be attributed to a number of factors including a stronger US dollar and higher tariffs caused by the trade tensions between China and the United States.

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The company is also helping its Chinese clients expand into new markets, not only by working with them to meet its safety and technical standards, but also through the support of its extensive applied R&D team, which employs PhDs across the globe.

The company projected its net revenues for the third quarter of the year to be between 1 billion and 1.04 billion yuan, according to the financial results.

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The company owns about 1,700 taxis, accounting for about one-tenth of the legal operators in the city.

The company plans to open 80 stores in China this year.