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Board Practice
To enhance our corporate governance, our board of directors established three board committees: an audit committee, a nominations committee and a compensation committee, which are comprised solely of independent directors.
 
Audit Committee
We have established an audit committee in accordance with the Nasdaq Listing Rules, which reviews our internal accounting procedures and considers and reports to our board of directors with respect to other auditing and accounting matters, including the selection of our independent auditors, the scope of annual audits, fees to be paid to our independent auditors and the performance of our independent auditors. The members of our audit committee are Charlie Y. Shi and Yongqiang Qian, both of whom are our independent directors.
 
Nominations Committee
We have established a nominations committee, which identifies individuals qualified to become directors and recommends director nominees to be approved by our board. The members of our nominations committee are Charlie Y. Shi and Yongqiang Qian, both of whom are our independent directors.
 
Compensation Committee
We have established a compensation committee to determine the salaries and benefits of our directors and senior officers. The members of our compensation committee are Charlie Y. Shi and Yongqiang Qian, both of whom are our independent directors.