The company said in a statement on its Sina Weibo account on Monday that reviews of restaurants and eateries made up less than 3 percent of the user-generated content on the Mafengwo platform, which includes travel itineraries, diary entries and photo sharing.
The company's products are well known and highly appreciated in Sofia, after in 2016, a batch of 110 Yutong diesel buses was introduced to the Bulgarian capital city's public transport system.
The company's business fits well with the country's Healthy China 2030 initiative, and China's further opening-up promises a better business environment for foreign companies such as Herbalife Nutrition, he said.
The company's overseas assets stood at 31.8 billion yuan by the end of last year, accounting for 7 percent of its total assets, which points toward further growth potential of its international business.
The compound is extracted from the roots of thunder god vine, a toxic herb used in traditional Chinese medicine for centuries to cure arthritis and autoimmune diseases. In TCM, however, it is used in tiny amounts, mainly to treat severe diseases, because of its potentially dangerous side effects.
The company, trading under the ticker symbol of "XYF", announced its initial public offering of 11,000,000 American depositary shares (ADSs), each representing two Class A ordinary shares, at a price to the public of .5 per ADS for a total offering size of approximately 104.5 million dollars, assuming the underwriters do not exercise their option to purchase additional ADSs.
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The company will explore various ways to facilitate electric mobility in the future, Que said at the closing ceremony.
The company said the new 88 internet brand will mainly focus on offering internet products such as email services, a knowledge platform, professional networking, recruitment products and business information products. It will seek to provide individual users with solutions that foster efficient communication and better social connections.
The company's smoothie products, owned by Coca-Cola since 2013, have been available at leading convenience stores and supermarkets in Shanghai and other cities in East China since last month.
The company plans to use the funding to accelerate its business of making puzzle books for Amazon.com’s Kindle, and expand to new platforms.