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The company may use more advanced planes to fly its Spanish routes and will increase passenger volume, said Han.

The company's export orders are likely to be slashed by 90 percent in the first half of 2020, and no signs of new orders for the second quarter have prompted Li to take some belt-tightening measures.

The company said in February that it had signed deals worth 100 million pounds (1 million) with a number of Chinese companies, including Tencent.

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The company said its representatives met with Rui Pedro Oliveira, a Portuguese citizen who accused Huawei of stealing his smartphone camera patents, in 2014 per his request, but the company did not use his design in smartphone cameras.

The company raked in 214.28 billion yuan (.7 billion) last year, edging down 5.7 percent year-on-year, Wanda Group chairman Wang Jianlin announced Saturday.

The company said its victory over international leading toymakers did not come from low costs and large quantities, a stereotype of Chinese toymakers.

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The company logo of China Shenhua Energy Co Ltd is displayed during a news conference following the company's annual results in Hong Kong, China, March 29, 2016. [Photo/VCG]

The company was also involved in the construction of the Palm Islands -- consisting of three artificial islands with residential, leisure and entertainment centers -- on the coast of Dubai, United Arab Emirates.

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The competition was part of a hi-tech conference for overseas Chinese in western China jointly organized by the Overseas Chinese Affairs Office of the State Council and two other bodies.

The company now has wind farm and solar power assets in the UK, France, Belgium, Ireland and the Netherlands after four years of development, and has become the sixth-largest clean energy operator in France and also the energy company with the greatest investment in Ireland, it said.