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The company intends to make its point-of-care testing available by March 30, according to the FDA.

The company is currently building new processing facilities in the Xinjiang Uyghur autonomous region and in Yichang of Hubei province, and upgrading a factory in Hangzhou, Zhejiang province.

The company reported strong growth in the second quarter of this year, as sales reached 4 million, up 12 percent year-on-year. The gaming and video collaboration categories showed particular strength and momentum, it said.

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The company made 7.55 million yuan (about .2 million) in net profit last year after suffering losses in the previous two years.

The company recorded a 4.7-percent increase in premium income in 2018.

The company was founded by Johnny Chou, former president of Google China, and is led by a team with technology and logistics expertise.

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The company's capital expenditure reached about 16.90 billion yuan for the first quarter of 2020, up 20.1 percent year-over-year, as a result of the increased workloads.

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.

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The company said BMW has determined its four major pillars for success in China－localization, innovation, opening-up, and high-speed transformation, and the company recognizes them as "must-win fields".

The company’s website says that “with our cross-border expertise in China and South East Asian markets, FUTS is developing relationships to support the execution of our business plan. China’s industry and investors are always looking at new ways to tap into the capital markets, and FUTS remains steadfast in our dedication towards helping to facilitate this process.”