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The company, based in Guangzhou, , capital of Guangdong province, recently signed strategic cooperative agreements with several leading home appliances makers and kitchen equipment providers to provide one-stop renovation service for Chinese families.

The company said apparel sales fell 23 percent, footwear revenue dropped 28 percent and accessories dropped 17 percent compared with the same period a year ago.

The company was fined 8.3 million yuan (.3 million) and its senior executives were banned for life from entering the securities business. Xintai Electric's chairman Wen Deyi later admitted the violation but said it did not warrant delisting.

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The company regards such investment as a "milestone" in its Chinese market.

The company previously allowed some white nationalist content it did not view as racist, but recently decided to change course.

The company's pyramid activities seriously disrupted the social and economic order, and Zhang's instigation behind the protests constitutes the crime of organizing people to disturb order in public places, according to the verdict.

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The company that once dominated toy sales in the United States has been operating under bankruptcy protection since last fall, when it filed for Chapter 11 under the weight of billion in debt. Toys R Us operates about 900 stores in the US, including Babies R Us stores.

The company's Jaguar I-Pace is to be shipped to the Chinese market this year, and the carmaker has pinned great hope on its first fully-electric high-performance SUV in China.

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The company reversed to losses in the first quarter of 2020 as the COVID-19 epidemic hurt business.

The company launched its shared bikes, an innovative solution to address consumers' short-distance travel demand, in April last year, and now has had daily riders of 20 million people.