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The company's vision is to establish a platform to build flexible electronic products across various sectors, including smartphones, home appliance, healthcare, robotics, transportation and even education.

The company was created by Kevin O’Connor, who previously founded DoubleClick, which eventually sold to Google for .1 billion.

The company's stand-alone high-performance electrified brand, Polestar, will also start manufacturing in China, with its production base set to be completed by the middle of this year in Chengdu, capital of Sichuan province.

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The company's main products are memory chips and storage modules. From 2017 to 2019, the company enjoyed 42.43 million yuan in tax concessions.

The company is waiting for regulatory approval for its initial public offering in Shanghai to raise about 19 billion yuan (.8 billion). It already floated shares in Hong Kong in a .3 billion IPO in 2015.

The company opened a Mi Home retail store in a Beijing high-end shopping mall earlier this month, which Lei said has been overwhelmed with consumers and highlighted that its offline retailing strategy is a success.

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The company said to date it has established a network of partnerships reaching over 50 percent of the world's population across more than 1,000 cities in North America, Southeast Asia, South Asia and South America

The company released China's first AI-based skin disease diagnosis system last year, together with the Second Xiangya Hospital of the Central South University in Changsha, Hunan province, and Glority, an AI technology company in Hangzhou, Zhejiang province.

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The company said it will be the first gin bar in China’s capital.

The company was also still preparing for change of China's emissions standards from State V to State VI in the three months from January to March.