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The company said it would continue to advance its internationalization strategy to bring homegrown innovation from China to new markets in the future.

The company plans to issue up to 1.97 billion A-shares, which will account for 10 percent of its total shares after the issue, at a price yet to be determined, the preliminary prospectus showed. There will be no transfer of old shares at the IPO.

The company is now facing tougher competition from rivals such as Alibaba and Pinduoduo. Chen Tao, an analyst at the Beijing-based consultancy Analysys, said JD's reach in first and second-tier cities is high, or close to saturation, adding it should seek new growth engines and pour more resources into smaller cities and rural areas.

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The company, which has about 20 employees, is located near the Today Art Museum in Beijing, where modern art is exhibited and Li can better promote her products.

The company spent half the month of September surveying more than 30,000 Chinese netizens, finding only 0.7 percent of them install security software on their computers and telephones.

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.

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The company, based in Shen-zhen, Guangdong province, said these new charges are without merit and are based largely on recycled civil disputes from the past 20 years that have been previously settled, litigated and in some cases, rejected by federal judges and juries.

The company’s shareholders recently defeated a resolution backed by Amazon Employees for Climate Justice. Their proposal called for Amazon to report on the potential harm to communities of color that’s caused by the pollution from airplanes, trucks and other machinery used to ship products ordered through the online retail giant. The resolution received only 6% approval at the May 27 virtual meeting.

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The company today officially?announced its name change, which reflects Amazon’s 6 million acquisition of the Portland video processing company two years ago.

The company partnered with East China Normal University to publish an AI textbook for high school students back in 2018.