The company hopes to accelerate its global expansion more quickly and efficiently, even though it is facing severe challenges from domestic internet giants in the overseas market, Sun said.
The company said on Friday it intends to sell 85 million shares American depositary share (ADS), each representing two class A ordinary share, priced between and per share.
The company was also involved in the construction of the Palm Islands -- consisting of three artificial islands with residential, leisure and entertainment centers -- on the coast of Dubai, United Arab Emirates.
The company provides small parcel lockers, usually installed in community compounds, where deliverymen can drop off parcels rather than making time-consuming deliveries to individual addresses. Hive Box had been charging deliverymen for the service for some time, but it was free for recipients until May 1, when the company decided to charge late fees for storage over 12 hours.
The company is exploring opportunities in fields ranging from car hailing and satellite launches as part of its efforts to seek an advantage in terms of mobility and autonomous driving.
The company is also targeting the medical rehabilitation sector with special artificial limbs for disabled people. By decoding muscle signals on the arm transmitted by the brain, a smart prosthetic device understands the user's intent and takes corresponding action.
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The compensation amounts in civil disputes were also elevated to new heights, the white paper said.
The company's success in Africa has been largely based on cheap feature phones, and it will focus more on smartphones, considering the rising purchasing power of the market.
The company was founded in 1990 by MIT roboticists, including Colin Angle.
The company's building technologies and solutions business has more than 5,000 employees in China. It operates 39 offices and three manufacturing centers throughout the country.