This was covered a long time ago by China Securities Times reporter Li Shouren.
Article about DOLV posted on July 11, 2017. The company isn't clairvoyant and didn't know that the name and ticker change would take this long.
I included an excerpt of the article that states that ZJMY's current scale of operation and corporate governance structure would not support an IPO at the time and that ZJMY were going to use the OTC pink market (DOLV) as a stepping stone, since they want to move to overseas' markets over time (see the third paragraph I included).
The whole article is worth a read for a refresher.