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The company said it will be the first production car with a 5G and V2X technologies-enabled communication network.

The company's shares fell by 0.49 percent on Thursday on the Shanghai Stock Exchange.

The company said its new categories now account for more than 60 percent of the overall business, compared to just 20 percent five years ago.

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The company's autonomous delivery car is able to ferry food such as drinks, fruit and snacks from a local store to the residents. Embedded with leading camera, radar and GPS technologies, it can also avoid cars and passers-by automatically.

The company started trading at .40 per share on Tuesday, rising 2.9 percent from its pricing, and was traded at .11 apiece around midday.

The company plans to reopen its flagship store in London, which closed last February due to lukewarm sales. Bosideng said the reopening of the store is an important move for its brand strategy, as it looks to further expand into overseas markets.

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The company is also making improvements to attract and please a wider range of consumers, the younger generation in particular, to get back to brick-and-mortar stores.

The company is taking steps to suspend affected transactions as a result of the ban and is assessing the impact of these developments on Acacia, it said in a statement.

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The company, trading under the ticker symbol of "YJ," announced its IPO of 11 million American depositary shares (ADSs), at a price to the public of per ADS, for a total offering of approximately 1 million.

The company was provided with 2 million yuan from the high-tech area to procure medical protection facilities for its staff members, he said.