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The company, since its founding in 2016, quickly gained attention from consumers, with a presence in 53,286 convenience stores across China and the support of 131,375 offline retailers while expanding to more than 11 overseas markets.

The company is currently revising its retail plans in China as the market is rapidly changing but it will retain a mix of formats including hyper stores, pickup points, experience centers, distribution centers and e-commerce platforms, said Kuliga.

The company opened its second international store in Shanghai in April following a concept store in Milan where the company's headquarters are based.

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The company says the KX-5000 series octuple-core processor has a similar performance to that of Intel's Core i3-6100 processor.

The company's gross margin in Q1 increased by 1.5 percentage points to 51.1 percent compared to 49.6 percent in 2017. Adidas was hereby able to offset significant currency headwinds resulting from the depreciation of the dollar with positive effects from a better pricing and product mix.

The company secured water treatment deals in nearly 200 more Chinese cities in H1 via a new public-private partnership financing model, on top of its existing presence in major regional markets, including Beijing, Yunnan and Zhejiang.

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The competition in the 5G market has also intensified, with Huawei, Xiaomi, Oppo and Vivo all scrambling to launch devices that encompass all price segments so as to reach more customers.

The company’s ARM-based chips are designed to be used in Wi-Fi routers, storage products, video streaming and other IoT devices in the home. Given this news, we may see many smart home devices at future CES shows that are powered by Amazon-designed chipsets.

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The company's gross assets reached over 300 billion yuan (.2 billion) last year, up about 38 percent year-on-year. Net assets that belong to shareholders of the parent company grew 1.57 percent to surpass 31.6 billion yuan, data from Bohai Capital showed.

The company's parent groups, Renault-Nissan Alliance and Dongfeng Motor Group, have also entered into a new joint venture to co-develop and sell electric vehicles in China.