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The company will be led by surgeon and Harvard Medical School professor Dr. Atul Gawande and will be headquartered in Boston, an unsurprising choice given the city’s expertise in medicine and biotechnology. None of the three founding companies are headquartered in the Boston area, which gives the city the advantage of being neutral ground.

The company said Champion, Calvin Klein and Under Armour were the top three foreign brands favored by Chinese consumers. Moreover, the sales of household products, personal care and cosmetics saw robust growth.

The company's products, colored ribbons and bows, sell well in the Indian market. Merely by creating jobs, the Chinese-run Ribest presents a miniature version of mutually beneficial economic cooperation between China and India, and contributes to local economic empowerment by changing the lives of many women.

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The company introduced several new models this year including the L5 sedan, a high-end SUV HS7, and its first electric SUV E-HS3 this year.

The company said it has received an order for 12 container vessels from Malaysian and German shipowners, two of which will be delivered by the end of this year.

The company is one of the foreign suppliers working with Comac on the C919, China's first home-built wide-bodied passenger aircraft.

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The company's net income attributable to its shareholders for the first quarter was 82 million yuan, compared to net loss of 1.6 billion yuan during the same period last year and net income of 645 million yuan the previous quarter.

The company, valued at about .5 billion at the time, had discussed a merger with Meituan, one of Tencent's largest investments in the market.

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The company says the site has tens of thousands of resources at launch, including free materials from the Newseum in Washington, D.C., the U.S. Department of Education’s College Scorecard, and the Folger Shakespeare Library, which expects to offer more than 2,000 plays, lessons and teaching modules by the time the new school year starts, coinciding with Shakespeare’ 400th anniversary.

The company's investment in technology research and development will reach 43 million yuan this year, a year-on-year increase of 25 percent, according to Liu.