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The company on Thursday said it will not weaponize its portfolio of patents as innovation and intellectual property protection lie at the heart of its success.

The company said in a statement that the current economic uncertainties will not have a big impact on the firm's daily operations since most of its core technologies are self-developed.

The company plans to convert 219.2 million preferred shares to Class A shares prior to closing the deal. That could eventually drive down the value of shares offered in the IPO.

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The company's approach is to bring equal opportunities to the "little guys" and "underserved" that lack access to conventional financial services, Qi said.

The company said in a statement: "As the world grapples with COVID-19, Huawei's global supply chain is being put under intense pressure and its production and operations face significant challenges. The company continues to do its best to find solutions, survive and forge forward, and fulfill its obligations to customers and suppliers."

The company was fined 8.3 million yuan (.3 million) and its senior executives were banned for life from entering the securities business. Xintai Electric's chairman Wen Deyi later admitted the violation but said it did not warrant delisting.

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The company, Sunny Yi Feng Tiles (Zimbabwe) Pvt Limited, was registered in Zimbabwe in May and all the investors are from China.

The company's output growth of oil and gas is in accordance with national production.

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The company will proactively communicate with regulators to ensure the drug will be included into the country's drug reimbursement list as soon as possible to reduce patients' financial burden, although the drug is priced quite modestly, it said.

The company is working with the University of Portsmouth in the UK and two Chinese partners - Huazhong Agricultural University and Wuhan HVSEN Biotechnology - on an AMR project with two main aims. One of the aims is to design a new drug that will specifically target bacterial pathogens that cause infections in pigs.