NetQin started in 2005 in Beijing and established a presence in the U.S. in November 2010.

The 161-page written by NetQin notes on page 17 that China Central Television (CCTV) ran a report on March 15 of complaints of fraudulent practices against NetQin. One practice named in the TV report was the uploading of viruses to imported mobile phones to promote NetQin's security products.

The uploading of viruses was reported to have been done by Beijing Feiliu, a company one-third owned by Netqin, but NetQin said in the prospectus it does not believe it has committed any wrongdoing and would publicly explain its practices.

However, NetQin further said in the prospectus that because CCTV "has wide coverage and perceived authority, such negative publicity has adversely and severely damaged our brand, public image and reputation, which may seriously harm our ability to attract and retain users and result in material adverse impact on our results of operations and prospect."

One security Web site, more details about the connections between Beijing Feiliu and NetQin, including claims that NetQin does remove the Feiliu app for a small fee.