For years, Huawei has been working with leading consultancies such as IBM, the Hay Group, PwC and FhG to carry out management transformation in order to keep abreast with international industrial benchmarks. In terms of Integrated Product Development (IPD), Integrated Supply Chain (ISC), human resources management, financial management and quality control, we have undergone comprehensive transformation, introduced the industry's best practices, and established IT-supported management platforms.

Through consistent implementation of management transformation, we have gradually perfected our operation and management processes. In addition, we have managed to strike a balance between our company's size, business profitability, and cultivating our expertise.

Huawei believes that cooperating with customers, suppliers and leading players in the industry to face challenges together through a win-win strategy is essential in today's business world. We strive to build more stable partnerships with our customers and suppliers and reinforce strategic cooperation with international and domestic mainstream operators. Furthermore, we will enhance our position in key international markets, strengthen partnerships with major suppliers, and improve our response speed and service advantages in our supply chain.

In addition, we will further cooperate with our industry peers on many levels to set up a future-oriented, secure, and win-win development framework. Through this, we aim to create greater value for our global customers. In the past few years, we have also initiated multi-level cooperation in several fields including technology, products and marketing in order to face risks and challenges together.

Huawei has formed numerous partnerships with leading companies, and cooperates with them on the foundation of our self-developed technologies. We work closely with leading multinationals such as TI, Motorola, IBM, Intel, Agere, ADI, Altera, SUN, Microsoft, Oracle and HP to improve the time to market of our products, and to incorporate the latest technologies and best management practices into our company.

We have also set up a joint venture with Siemens which focuses on the research, production, sales and services of TD-SCDMA in order to further advance its development. Jointly with Motorola, we set up a UMTS research center in Shanghai, which is engaged in providing global customers with more powerful UMTS products and solutions and HSPA.

We also join hands with a large number of prestigious companies such as Intel,Texas Instruments, Freescale Semiconductor, Qualcomm, Infineon, Agere Systems, Microsoft, IBM, Sun Microsystems and HP and set up joint laboratories.