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The company said it plans to bolster the brands' sustainable and scalable growth via its New Retail strategy, which effectively combines online and offline resources through the use of technologies such as big data and artificial intelligence to track, predict and manage customer demand.

The company said it would also scale up its production capacity for high-end, innovative products in Tianjin, to meet rising consumer demand for plant-based products, snacks and pet food.

The company will announce further projects in the next three years.

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The company’s high-end residential project Wanliu House has just received a LEED Platinum certificate, becoming one of the only two residential projects to be awarded the certificate in China.

The company said in a filing to the Shanghai Stock Exchange that it is investing 10 million yuan (.47 million) to set up a subsidiary in India, the world's fourth-largest market for vehicle sales by volume. According to a report in India's Economic Times newspaper, the subsidiary's operations may start around 2021.

The company’s net sales came in at .83 billion, up 23 percent from the same quarter a year ago, but also somewhat below the consensus of analysts polled in advance by Thomson Reuters.

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The company said it had gained approval from South Korea's trade ministry for this plan, the first time a South Korean firm will transfer such sophisticated technology abroad.

The competition, which runs through Tuesday, features 1,355 contenders from 69 countries and regions. This year's competition is expected to be the largest World-Skills competition ever held.

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The company is making efforts to raise the stakes in the automotive industry. Last year, Evergrande acquired a controlling stake in National Electric Vehicle Sweden for 0 million, investing more than 0 million in a new venture with supercar maker Koenigsegg, and paying 4.4 million for a 58 percent stake in lithium-ion battery maker Shanghai Centa New Energy Co.

The company, based in Guangzhou, will resume more than 90 percent of its production capacity, according to Tang.