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...The three tech groups are industry leaders in China, and are all backed by Tencent, China’s most valuable technology group, which has avoided the worst of the regulatory crackdown....
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...In 2010, it generated about €3bn in sales from beauty and perfume on an operating profit of €332m, and by 2019, just before the pandemic hit, that had grown to €6.8bn in sales and €683 in operating profit...
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