AsiaInfo Hldgs Rated New `Outperform' at Morgan Stanley DW
By Michael O. Donohue
Princeton, New Jersey, March 28 (Bloomberg Data) -- AsiaInfo Holdings
Inc. (ASIA US) was rated new ``outperform' in new coverage by analyst George
Kelly at Morgan Stanley Dean Witter. The price target is $90.00 per share.
quote.bloomberg.com
Also today:
AsiaInfo Announces Contract Win to Further Expand 21cn.com's
Free Email System; Company Executes on Software
Strategy with Multiple Contract Wins
Business Editors and Technology Writers
SAN FRANCISCO--(BUSINESS WIRE)--March 28, 2000--AsiaInfo
Holdings, Inc. (Nasdaq:ASIA), a leading provider of Internet
infrastructure solutions and software products in China, today
announced that 21cn.com, one of the top ten portals in China, has
selected AsiaInfo's messaging software, AsiaInfo Mail Center (AIMC),
to further expand its carrier-class email system.
This partnership creates the largest free email system in China,
expanding 21cn.com's system capacity to 5.5 million mailboxes. AIMC
brings reliability, speed and scalability to 21cn.com's email system.
Additionally, AsiaInfo provides strong local technical support as well
as cutting-edge technology.
AIMC is quickly becoming the leading messaging software for the
Chinese ISPs and Internet content providers (ICPs) markets. AsiaInfo
has made significant progress throughout China by entering both
developed Chinese cities, as well as remote areas such as Ningxia and
Inner Mongolia. Since January 2000, AsiaInfo has won multiple
contracts with Email.com.cn, Shenyang Telecom Bureau, Ningxia Data
Telecommunication Bureau and Inner Mongolia Telecommunication Bureau
for AIMC products.
The success of AIMC software demonstrates the successful
execution of AsiaInfo's overall software strategy. Central to
AsiaInfo's future growth is the continuing expansion of its software
business to capitalize on the rapidly growing Internet market in
China. AsiaInfo's software strategy focuses on three core products:
the AsiaInfo Online Billing System (AIOBS), the AsiaInfo Billing and
Customer Care System (AIBCCS) and the AsiaInfo Mail Center (AIMC).
AIOBS was developed to meet mission-critical customer management and
billing (CM&B) requirements of carrier-class ISPs and ICPs. AIBCCS
offers real time, scalable solutions for CM&B operations of wireless
and long distance telephony service providers. AIMC is a carrier scale
messaging software capable of handling millions of accounts.
"We expect the rapid surge in Internet usage in China to
stimulate demand for reliable, fast and scalable software products
that specifically address the needs of Chinese Internet service
providers," said James Ding, CEO of AsiaInfo Holdings, Inc. "AIMC is
gaining momentum in the Chinese ISP/ICP market. We sold and installed
over 9 million AIMC licenses for 1999 and over 5 million in the first
quarter of 2000. We strongly believe in the future of this product and
will continue to devote research and development resources to bring
this high-capacity, carrier-class product to the next level."
About AsiaInfo Holdings, Inc.
AsiaInfo Holdings, Inc. (Nasdaq:ASIA) is a leading provider of
Internet infrastructure, total solutions and software in China, one of
the world's fastest growing Internet market. The company offers
telecommunications service providers in China total network solutions
for their Internet infrastructure requirements and develops
proprietary software for Internet service providers, Internet content
providers and telecommunications service providers.
Since it moved its operations from the US to China in 1995,
AsiaInfo has served as chief architect of China's Internet
infrastructure. AsiaInfo pioneered the development of China's Internet
infrastructure and designed and built the first national commercial
Internet backbone in China, ChinaNET, as well as the first provincial
Internet backbone in China, GuangdongNET. The company is also building
the other two national commercial Internet backbones in China: UniNET
of China Unicom and CNCNET of China Netcom.
AsiaInfo develops, markets and supports real time, scalable and
adaptable proprietary Internet software solutions tailored to meet the
needs of clients in China. The company's customer management and
billing software products meet the complex, mission-critical
provisioning, accounting, reporting and marketing needs of Internet
and telecommunications service providers. The company also offers
carrier-scale-messaging products to Internet service providers in
China. For more information about AsiaInfo, please visit
www.asiainfo.com.
The statements in this news release, other than the historical
financial information, may contain forward-looking statements that
involve risks and uncertainties that could cause actual results to
differ from anticipated results. Further information on risk factors
that could affect AsiaInfo's result of operation is detailed in
AsiaInfo's Registration Statement, as filed with the Securities and
Exchange Commission
Wish I could find the reason that revenues dropped to 12M in the Dec99 quarter from 25M the quarter before per Hoovers.
Jack |
