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Analysis from International Data Corporation indicates that Transsion's market share in Africa reached 52.5 percent in 2019 while its smartphone market share in the continent has exceeded 40 percent and ranked No 1 by the end of second quarter this year, in spite of the global economic impact of COVID-19, according to Transsion.

Analysts said that selling shares to employees over the long term may help companies retain staff and boost their performances by giving them more incentive to work hard, keep the shares, and benefit from the growth of the group.

Analysts said the authorities need to continue implementing supportive policies, such as tax and fee reduction, to boost the economy.

Angel Liu, executive director of global investment at the North Carolina Department of Commerce, said the state is balanced among its various sectors.

Analysts attribute the profit growth to the bullish A-share market in March. According to Bloomberg, average daily stock turnover of the market hit 887 billion yuan in March, or 50 percent higher than in February, driving brokerage revenue up.