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The company had about 4 million cash on hand at the end of September. But the money is not enough to continue its operations for the next 12 months without external financing, according to a third-quarter financial statement released on Dec 30.

The combined turnover of stocks covered by the two indices shrank to nearly 1.08 trillion yuan from 1.13 trillion yuan the previous trading day.

The company did not disclose how many handsets it shipped last year.

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The company has also become stricter about expense control and further improved its efficiency, with its headcount cut to around 7,000 from 100,000 in early 2019.

The company didn’t provide any word on a replacement. Agarwal couldn’t be reached before publication this weekend.

The company administering the fund will be registered in the Lingang Special Area of China (Shanghai) Pilot Free Trade Zone and will mostly invest in the mixed-ownership reform projects of SOEs, and equity investments projects of State firms in the private sector.

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The communique confirmed the 14th Five-Year Plan (2021-25) for national economic and social development and the long-range objectives until 2035, and in particular the crucial policy directions for the Chinese economy such as industry, agriculture, national defense and science and technology.

The collaboration brings together the leading expertise of Tsinghua University in infectious disease research and immunology with Boehringer Ingelheim's experience in the development of novel therapies for patients suffering from diseases with high unmet medical need and its comprehensive research and development programs in cancer immunology and immune modulation.

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The close of the Winter Olympics in Pyeongchang could herald the beginning of a breakthrough on the Korean Peninsula issue, as Pyongyang said it had "enough willingness" to hold talks with the United States.

The company announced in March that it would open-source MegEngine, making the platform accessible to developers across the globe.