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Buyers will invest about 0 million in common and preferred equity to fund the deal, which is expected to be completed in the fourth quarter, according to the statement. The funding includes cash from CF's IPO.

But, as escalating Sino-US trade tensions cast a shadow over the city's stock market, analysts said the company could face a tough reality check amid muted investor demand and lackluster market performance.

But the group's president Lyu Benxian said that such difficulties are acceptable for the four-year-old company which is still "in its infancy". The group will make major breakthroughs soon by introducing strategic investors and withdraw from the projects which are not in line with the group's strategic transformation, he said.

But the November PMI reading shows that the Chinese economy remains resilient and the strong growth momentum may continue into the year-end and even extend to the first quarter of next year, analysts said.

But, all this tech doesn't mean the industry still has the same appeal among young people today.