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The company is currently China's largest private ophthalmic chain, owning more than 160 specialized eye hospitals by 2016, and went public on the Shenzhen stock market in 2009.

The company's bankruptcy also serves as a reminder to Chinese companies that innovation in sales channels and product research is very important, Li said.

The company, one of the top world players in medical 3D printing, has more than 130 patents granted from regulators in the United States, Russia, Japan and China. And more than 130 patent applications are pending approval at home and abroad.

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The company is also setting foot in the vocational education sector, in the hope of nurturing more talents for the movie and gaming industries.

The company signed a deal with the BDS Precise Service System on Monday to expand cooperation in building smart cities. The BDS Precise Service System was built by the Global Navigation Satellite System and the Location-based Services Association of China to promote the application of BeiDou in diverse sectors including the supply of electric power, water and intelligent transportation.

The company will operate a fleet of 40 vehicles in a manned autonomous driving test area covering 700 kilometers of road, with routes including residential and business areas in Yizhuang, Haidian and Shunyi districts.

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The complementary yet competitive relationship between the markets will encourage them to learn from each other and improve their attractiveness to high-quality IPO candidates, resulting in a higher efficiency of the capital market in fueling innovation-driven growth, Wang said.

The company is located in Dazhangzhuang village, Anxin county, Baoding, which is a less developed region in the central part of Hebei province.

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The company said Thursday that it will supply its full-service employees free health and safety kits containing reusable cloth face masks, hand sanitizer and thermometers beginning next week. It also said it is launching a COVID-19 resource center to provide information for employees and customers.

The company quickly took down the two employment ads for intelligence analysts whose duties were to include tracking “labor organizing threats,” saying they did not accurately describe the roles.