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The company sees a lot of potential in this expansion, and not just because of the competition with Amazon Fresh.

The company hopes it will be able to cash in on the growing demand for healthy products.

The company is expected to export 10 metric tons of phycocyanin products a year, with a total value of more than 10 million yuan (.5 million).

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The company's first quarter sales in 2020 plunged 55.7 percent year-on-year to about 679,000 units, worse than the country's 42.4 percent decrease in car sales, data from the China Association of Automobile Manufacturers showed.

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 started to limit minors' playing time Tuesday, cap underage users' consumption and reinforce the real name system.

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The company is using this year’s Prime Day to show support for small businesses. Amazon said it will give Prime members a credit to use on Prime Day when they spend on items sold by select small companies, starting today and lasting through Oct. 12. It is also spending 0 million on promotional activities to help them increase sales and reach.

The company’s profits of million for the December quarter translated into earnings of 21 cents a share, compared with the average of 29 cents projected by analysts polled in advance by Thomson Reuters.

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The company's global smartphone sales have risen sharply this year. According to market research company Gartner, Xiaomi sold 28.5 million handsets in the first quarter of this year, compared to 12.7 million during the same period in 2017. This amounted to the highest level of sales growth among the top five smartphone manufacturers during the period.

The company said earlier that the new plant will produce robots that can be used in a wide range of sectors including food and beverage, chemical, communication and consumer electronics product manufacturing, logistics, automobile and service industries. It will also supply robots to global markets.