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UPDATED on March 31, 2008
AsiaInfo's ticker symbol is ASIA and the stock trades on the Nasdaq stock exchange.
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AsiaInfo went public on March 3, 2000 at $24 per share. 5,000,000 common shares were offered.
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AsiaInfo was incorporated in the US state of Delaware on June 17, 1993 and is now headquartered in Beijing.
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AsiaInfo's fiscal year end is December 31st.
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As of June 30, 2008, there were 44,781,903 shares of common stock outstanding.
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As of June 30, 2008, we had approximately US$218 million in cash, cash equivalents, restricted cash and short-term investments.
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AsiaInfo does not issue dividends. We believe the best use of our cash is to develop our current business by investing in R&D to enhance our existing suite of products and services to take advantage of China's rapid growth. Strategic investments or acquisitions will also be considered if they can further our growth plans or complement our existing strengths.
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AsiaInfo's independent accountants are Deloitte Touche Tohmatsu (Beijing). AsiaInfo's audit committee regularly evaluates the work of its auditors, Deloitte Touche Tohmatsu, in order to ensure that its auditors interact with management on an independent, objective and rigorous basis. Under the Sarbanes-Oxley Act, the partner from Deloitte Touche Thomatsu in charge of the company's audits will be rotated every five years.
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As of June 30,2008 AsiaInfo has approximately 2,750 employees.
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AsiaInfo is a leading provider of high-quality telecom software and solutions and security products and services to enterprises across China. The Company offers several proprietary software products including: AIOpenBOSS, AIOpenCRM, AIOpenBI, AIOpenXpert, AIOpenAPP, and AIOpenPRM. Each of these products are given the name "Open" because the software installed as part of these services are generally designed with open architecture to facilitate further development and customization. Through our Lenovo-AsiaInfo business unit, we offer a complete customer offering of enterprise quality security solutions and high-end security consulting services. Lenovo-AsiaInfo's offerings include firewall equipment, VPN, IDN and security management services.
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Currently our key customers include the major telecom carriers in China, such as China Telecom, China Mobile, China Netcom, China Unicom, and China Railcom, as well as some large enterprises, such as PetroChina, Air China, Angang Group, and the Ministry of Railway.
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We partner with many leading international companies in various aspects of our business. Our main partners are Ericsson, Nokia, China Academy of Telecom Technology, Frost & Sullivan, BEA Systems, Siebel Systems, Cisco, Sun Microsystems, IBM, Hewlett-Packard, Oracle, Sybase, Borland, and Lenovo.
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Our competitors include international corporations such as SAP, Oracle, Peoplesoft, Amdocs, Siebel, Cisco and Convergys, as well as local companies like Linkage, Digital China, Huawei, Topsec, Neusoft, Rising and Kingdee, among others. Some companies compete across many of our product lines, while others are primarily focused in a specific product area or industry.
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AsiaInfo's strategy is to be the leading provider of high-quality telecom software solutions and security products and services in China. We will drive profitable growth in our high-margin telecom software and security businesses through expanding our market share and core offerings both organically and via strategic acquisitions. We will also work to develop cross marketing opportunities for our security products and services within our existing telecom customer base. This strategy leverages our vast experience working with large enterprises and is designed to address the specific IT challenges facing Chinese companies today and in the future.
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In October 2004 AsiaInfo acquired the non-telecom related IT services business of Lenovo Group in a stock transaction valued at US$36.7 million forming a new division of AsiaInfo called Lenovo-AsiaInfo. Please see the section entitled 'News' on our home page or read our Form 10K and Form 10Q for more details on this acquisition.
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Even though most of AsiaInfo's operations are in China, because AsiaInfo is a Delaware-registered corporation, the company is treated as a domestic, US company for SEC purposes. Therefore, AsiaInfo follows all of the standards and regulations applicable to other US public companies. Being held to these high standards has been a source of pride for the company, and something the company believes its shareholders appreciate.
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The Sarbanes-Oxley Act calls for a broad range of new regulations that will apply to all US public companies, including AsiaInfo. The full implications of the Act will not be known until the SEC finishes making the rules necessary to implement the Act. However, the underlying goals of the Act -- corporate accountability, integrity and transparency -- have been part of AsiaInfo's company culture and values since its inception. AsiaInfo has long been recognized as a leader in corporate governance among companies in its region. The company will continue to review and update its policies and procedures in order to ensure compliance with all new laws and regulations, as well as to ensure that the application of best practices.
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What is AsiaInfo's ticker symbol and what stock exchange does it trade on?