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Another US-listed Chinese education stock GSX Techedu Inc also registered losses this week. The company recently reported a tenfold growth in earnings for 2019, but a short sell report in February questioned its financial integrity.

Apart from the warehouses, the logistics specialist has wasted no time placing chips on cross-border transportation. It opened an airfreight route between Hong Kong and Belgium in July, the second international route set up for e-commerce parcels after opening one between Hangzhou and Moscow earlier this year.

Apart from attracting newcomers, local governments have been striving to help long-established enterprises to upgrade, finding new growth momentum to improve the local economic structures, as the region is home to many of China's largest manufacturers of automobiles, aircraft and machine tools.

Anthrax is an acute disease caused by the bacterium Bacillus anthracis. Most forms of the disease are lethal and it mainly affects animals.

Apart from rises in costs, the firm also made investment in expanding diversified logistic services to meet market demand, it said.