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The company said on Friday it intends to sell 85 million shares American depositary share (ADS), each representing two class A ordinary share, priced between and per share.

The company’s ARM-based chips are designed to be used in Wi-Fi routers, storage products, video streaming and other IoT devices in the home. Given this news, we may see many smart home devices at future CES shows that are powered by Amazon-designed chipsets.

The company still should pay more attention and spend more money on R&D of products, Zhang added. "Other NEV startups are unveiling models featuring fabulous appearance and internal structure to allure customers. The two models of NEVS are too old to meet the requirements of current customers," Zhang said.

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The company said that the couple's behavior and the live-streaming platform Xinglian Live Broadcast have hurt the company's reputation and that of its driver community. DiDi has filed a lawsuit with the Beijing Internet Court, seeking legal responsibility against the platform, producers and participants of the live streaming event.

The company's vehicle sales hit 4.85 billion yuan for the whole year of 2018, accounting for 98 percent of total revenue in 2018.

The company's profits attributable to shareholders stood at 71.5 billion yuan (about .9 billion) in 2017, according to a report on its website.

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The company's growth strategy for the near future will focus on smartphones as well as AI and IoT technologies and applications, said Lei Jun, Xiaomi founder and president.

The company is also conducting extensive research on the efficacy of fresh milk for treating conditions like eczema in children. In addition, it has also teamed up with leading academicians to study the effectiveness of herbal medicines in skin diseases.

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The company’s previous guidance for this quarter predicted net sales between .1 billion and .8 billion, and an?operating loss between 5 million and million.

The company was fined 245 million yuan.