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The company says in an SEC filing that it will use the proceeds from the debt offering for “general corporate purposes, which may include repayment of debt, repurchases of outstanding shares of common stock, acquisitions, investments, working capital, investments in our subsidiaries and capital expenditures.”

The company said the move is aimed at reducing commuting costs for passengers while preserving the environment.

The company's performance started to rebound in recent years after its sales hit a low point due to problems found in its services and some products. It sold a record 291,000 Jiefang trucks in 2017.

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The company runs 21 offices, six factories, five labs and an innovation center in China, supplying analytical instruments, lab equipment, chemical reagents, consumables and software.

The company’s shareholders recently defeated a resolution backed by Amazon Employees for Climate Justice. Their proposal called for Amazon to report on the potential harm to communities of color that’s caused by the pollution from airplanes, trucks and other machinery used to ship products ordered through the online retail giant. The resolution received only 6% approval at the May 27 virtual meeting.

The company is now awaiting approval from the China Securities Regulatory Commission, the national financial market regulator.

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The company recently completed reconstructing several sections of the Jinhai Road ahead of schedule. Jinhai Road is a 26-kilometer main road across Hohhot, the Inner Mongolia autonomous region.

The company will also ramp up its market presence by promoting its own quick response code scanning system to process mobile payments.

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The company’s?landmark series, Transparent,?has been seen by fewer than 40 percent of Amazon Prime subscribers, according to new estimates released after the show and its star, Jeffrey Tambor, won Golden Globes last night.

The company said it allows employees to work from home and seeks to negotiate with clients.