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The company said it only takes three months for its new restaurants to break even, according to the report.

The company officially launched its AI Labs in Beijing on Friday, marking its latest step in expanding its research into AI-driven innovation, attracting top AI experts and boosting the development of smart traffic technologies.

The company set up in October 2018 its first overseas R&D innovation center in Beijing, with focus on areas such as software and hardware development, localization, China and Asia-Pacific data analysis, intelligent connected vehicles and charging technology.

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The company said that since 2014, its customer base has increased by more than 100 percent every year. It took about seven years to generate billion in revenue, but only one year after that to reach billion - and just another six months to reach billion. The IPO registration statement assured investors, "We're just getting started."

The company saw its gold output hit 19.5 tons in the first half, while sales reached 12.61 tons.

The company, which employs more than 200, has 3.6 million customers in 100 countries. In order to keep up with the growth in the digital book arena, Humphrey said that Kobo will likely expand in Seattle where he’s based.

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The company is not Continental's first partner in the field. Earlier this year, Continental announced its decision to form a joint venture with Nexteer to promote motion control systems for automated driving.

The company, established in 2012, currently has a research and development team in Hangzhou. It has partnered with Zhejiang Nano-systems Institute and the First Affiliated Hospital of Zhejiang University in China for clinical validation and field deployment.

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The company has worked with local partners to train nurses and village medical workers, treat people suffering cleft lip and palate and mental illnesses in China. Over 5,500 China employees offered more than 12,000 hours of volunteer services in 2017, according to Song.

The company said it’s working to give customers more control and visibility of their security and privacy settings. As part of that effort, Ring said today that it will be shifting to two-factor authentication by default on new accounts and all device setups, including devices on existing accounts.