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The company set up its fourth research center in China, specializing in water treatment, last year in Shanghai.

The company's move is aligned with the call from State-owned Assets Supervision and Administration Commission of the State Council to ensure stable production and operations to back the country's economic development while preventing the virus from spreading further.

The company's research and development team noted that it only takes 55 hours for the new calcinator to calcine compound mica, which is two thirds of the original process. Besides, it saves production costs by roughly 10,000 yuan (,490), and raises the raw material utilization rate to 95 percent, greatly improving the quality of compound mica. Current calcining experiments showed that the produced compound mica flakes have no impurities, contain good flexibility and are in thin sheets, which can significantly lower the post processing cost.

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The company said it also provides clean and environmentally friendly energy for water desalination for coastal cities short of water.

The company's research and development team noted that it only takes 55 hours for the new calcinator to calcine compound mica, which is two thirds of the original process. Besides, it saves production costs by roughly 10,000 yuan (,490), and raises the raw material utilization rate to 95 percent, greatly improving the quality of compound mica. Current calcining experiments showed that the produced compound mica flakes have no impurities, contain good flexibility and are in thin sheets, which can significantly lower the post processing cost.

The company raked in 214.28 billion yuan (.7 billion) last year, edging down 5.7 percent year-on-year, Wanda Group chairman Wang Jianlin announced Saturday.

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The company, TransContainer Freight Forwarding (Shanghai) Co Ltd, has a registered capital of .2 million, said Egor Braginets, the general manager of the TransContainer Shanghai.

The company showcased its cutting-edge smart locking system, namely Yale Ecosystem, and a range of other smart products during a recent international building decoration expo in Guangzhou, capital of Guangdong province.

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The company is already popular in Zambia, where it has been operating since 2015. It hopes to replicate its success in Kenya and then the East African region.

The company’s profits of million for the December quarter translated into earnings of 21 cents a share, compared with the average of 29 cents projected by analysts polled in advance by Thomson Reuters.