Linshi Muye home appliance flagship store sells various types of beds for adults and children. The store ranked eighth by gross merchandise volume at Tmall, the B2C platform owned by Alibaba Group on Nov 11, 2015, the largest promotion day of the e-commerce giant.[Photo/lshmy.tmall.com]

Such high risks and hurdles, however, are not dampening the spirits of float-seeking online merchants. Ma Sanxin, deputy manager of nine-year-old Linshi Muye, an online furniture brand, said the firm has always adopted strict rules in its operations, and is now intent on going public in 2020.

"Some people choose the sneaky way to do business because a well-regulated company will drive up costs. But it's not the way we do business," Ma said.

"Linshi will be a 10-year-old company next year. We want to behave and act like a great company so that we can actually be one in future."