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"3721's business entails selling Chinese-language keywords for Roman alphabet domain names". This seems to be a Chinese version of Realnames.
According to reports, Zhou Yiwei, president of 3721, will go to Hong Kong to sign a contract with Yahoo today. The deal is as follows - Yahoo will give 3721 US$100 million in both cash and stock to buy 3721 Hong Kong Company.source: Yahoo To Acquire Chinese Search And Domain Firm 3721 [chinatechnews.com]
Yahoo! Holdings (Hong Kong) Ltd., a unit of Internet giant Yahoo! Inc. (YHOO), said Friday it had signed a deal to buy Hong Kong software developer 3721 Network Software Company Ltd. for US$120 million.source: Yahoo! HK/Acquisition:Beijing Co Gets Access To Yahoo! [sg.biz.yahoo.com]