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The company logo of China's Sinopec Corp is displayed at a news conference, on March 26, 2018. [Photo/Agencies]

The company is also doing better than before in its primary business of producing coal washing equipment, Zhao said.

The competition is even fiercer than that in the country's once booming shared-bike industry. This had forced some players to pull down the shutters after less than six months, but about four operators had stood out, plowing themselves into the black by the end of last year.

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The company, headquartered in Jinan, formed a partnership with Toronto-based Barrick Gold Corp in operating Veladero — the largest gold mine in Argentina, in 2017— followed by an IPO on the Hong Kong Stock Exchange in 2018.

The company launched its first offline children's park in Beijing in July, 2016. While children are playing and making friends, parents can buy these products directly at the store or place an order online. The park adopts two models: the direct-sale store and franchised outlet.

The company said it would fasten the bolts on the affected vehicles free of charge.

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The company plans to spend more than half of the IPO proceeds on building up its sales and distribution networks and a third of the money raised in expanding its production capacity, according to its prospectus.

The company signed contracts worth 25.04 billion yuan (.97 billion) with clients from both domestic and overseas markets in 2017. Its profit was 1.27 billion yuan, thanks to its diversified product categories, expanded sales channels and go-global strategy.

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The company showcased its newly developed system Kaspersky OS at a recent exposition in Tianjin. The system is said to prevent risks in the infrastructure, manufacturing and healthcare industries.

The company said it has collaborated with more than 400 hospitals and dozens of biopharmaceutical companies and research institutions in China, and has developed a large proprietary genomic database.