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The company said strong pricing on pickup trucks and crossover SUVs in North America drove results, though the sales drop in China, the world’s largest auto market, during the quarter hurt the bottom line by about 0 million.

The company, also known as Sinopec, said its Fuling shale gas field, China's first shale gas commercial production program launched in 2014, will reach an annual output of up to 10 billion cu m by the end of this year.

The company, trading under the ticker symbol of "UXIN", announced its IPO of 25 million American depositary shares (ADSs) at a price to the public of .0 per ADS.

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The company's optimism on the Chinese market stems from the stock connect between the London and Shanghai bourses that was established last year. The Shanghai-London Stock Connect enables companies to float shares on both exchanges simultaneously via a depository receipt mechanism, a milestone in China's accelerated financial opening-up.

The company's share price jumped despite the electricity sector in the exchange closing 0.54 percent lower and the Shenzhen Component Index settling 1 percent lower on Monday.

The company promised to replace faulty parts and upgrade software for the recalled cars, according to the administration.

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The company’s decision to use its own products to reinforce the value of Prime is particularly smart, and provides a virtuous cycle. In theory, you could see how Prime members will be happy because they saved money on a tablet, but they will also be happy to remain members for the free video streaming and Kindle book rentals.

The company said the new 88 internet brand will mainly focus on offering internet products such as email services, a knowledge platform, professional networking, recruitment products and business information products. It will seek to provide individual users with solutions that foster efficient communication and better social connections.

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The company signed a five-year partnership with English Premier League club Manchester United in October 2016. Mlily mattresses have been installed at the club's Aon Training Complex.

The company will work with local governments and nonprofit organizations to deploy the money over the upcoming years, but it did not explain any details about how the money will be used or apportioned.