Virtual marketing teams have emerged in T Company, a regional branch of China Telecom, and led to tremendous success in recent years. It is beneficial to explore the reasons behind such a phenomenon and to identify the factors leading to high performance. Investigating these issues also helps deepen our understanding of managerial experience and some important organizational changes that Chinese state-owned enterprises are going through. In this case study, analysis of the characters of high performing virtual marketing teams in T Company concentrates on four main team processes, namely virtuality and communication, personnel selection, trust, and motivation. Key factors contributing to the team’s high performance are analyzed, and the implications of the results for management and future research directions are also discussed.