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The company, trading under the ticker symbol of NIO, announced the pricing of its IPO of 160,000,000 American depository shares (ADSs), at .26 per ADS for a total offering size of approximately billion, assuming the underwriters do not exercise their option to purchase additional ADSs.

The company set up its Asian headquarters and production base in North China's Hebei province as China is an attractive market, said Li.

The company will continue to increase input on research and development and breakthroughs of core and key technologies to create more competitive products.

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The company set up 73 overseas representative offices and distribution service organizations in more than 60 countries and developed 106 initial distributors, 100 service branches and 110 fittings branches.

The company said it would invest another 31.9 billion yuan (.6 billion) in the 2019-20 period to strengthen pollution prevention and boost low carbon transformation.

The company's gold output fell 7.8 percent to 18,856 kilograms in the first six months of 2017, while that of copper and zinc climbed 22.5 percent and 15.4 percent to 91,535 metric tons and 141,906 tons, respectively.

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The company's practices deprived the downstream dealers of pricing autonomy, excluded and restricted the competition within the brand and in effect weakened the competition among brands, the statement said.

The company's Toys 'R' Us and Babies 'R' Us stores and e-commerce sites around the world are open for business, it said.

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The company priced its shares at .26, just above the lower end of its .25 to .25 target price range on Wednesday on the New York Stock Exchange.

The comparison bases were high from May to October last year, driving down PPI readings for corresponding months this year. Starting in November, the base effect is expected to be phased out, he said.