... 2... 4... 6... 7... 10... 48... 52... 54... 60... 88... 97... 99... 101... 103... 104... 106

2 HKICPA, FCCA HKICPA, FCCA

Diamond Bar, CA 28 26 Cricket Square Hutchins Drive P.O. Box 2681 Grand Cayman KY1-1111 Cayman Islands 200 22 2209 www.nd.com.cn 777 3

8288 777 Online OL SNS91App Store 9191 91 91 91 Android SNS Gamecenter SDK 4

SNS 9191 91 91 91U 91 91 91 91 10 E3 2D 2.5D 3D CRM ERP 5

645,214 595,981 621,836 531,772 760,974 (36,863) (68,017) (84,325) (66,333) (75,032) 608,351 527,964 537,511 465,439 685,942 8,321 58,020 57,807 60,864 38,156 (80,844) (103,599) (133,460) (101,993) (140,340) (50,090) (112,673) (163,926) (182,022) (210,941) (37,253) (89,823) (201,461) (162,234) (159,269) (21,404) (19,555) (1,959) (10,392) (11,594) 32,231 (15,214) (30,385) 18,431 (17,792) (3,806) (276) (724) (581) 427,081 261,904 97,005 69,662 179,775 (52,244) (22,635) (10,381) (34,769) (44,532) 374,837 239,269 86,624 34,893 135,243 85.01 44.49 16.57 6.64 25.85 44.49 16.56 6.64 25.85 66,572 132,608 184,170 272,897 340,833 1,778,088 1,387,802 1,367,941 1,287,043 1,555,987 (75,278) (66,599) (96,290) (108,783) (226,319) (171,607) (112) 484 540 458 1,769,270 1,453,811 1,456,305 1,451,697 1,499,352 6

7

7.6143.1%1.352 287.6%14.7 MMORPG 91 91 91 MAKEMAKE 8

3D TM OL MMORPG 0.12 9

(1) 5.13 5,580 4 38.3% PC 428.5 32.4% 366.9 PC 85.6% SNS 17.0 86.8% 29 10

3.56 2,00033.0% 41.2% 36.5% 393.1 97.5% SP ios Android App Store Ovi SNS (IM) Web2.0 29 11

(2) 612,000 569,000 643,000 546,000 542,000 310,000 300,000 311,000 246,000 232,000 Online 612,000 7.6% 12.9% 310,000 3.3% 33.6% 13

(3) 760,974 531,772 (75,032) (66,333) 685,942 465,439 38,156 60,864 (140,340) (101,993) (210,941) (182,022) (159,269) (162,234) (11,594) (10,392) (17,792) (3,806) (581) 179,775 69,662 (44,532) (34,769) 135,243 34,893 135,161 34,949 82 (56) 135,243 34,893 15

761,000,000 531,800,00043.1% 701,600,000 531,800,00031.9% 572,470 81.6 414,003 77.9 129,095 18.4 117,769 22.1 701,565 100.0 531,772 100.0 572,500,000 38.3% 129,100,000 9.6% 59,400,000 7.8% 6,700,000 792.6% 16

217,200,0007.1% 50.9% 192,500,000 4.9% 33.7% 17

24,700,000 28.4% 489.5% 28,300,00057.1% 93.9% 17,400,000 5,300,000 37,400,000 4,200,000 46,300,000 34.9% 90.6% 59,500,0006.4% 19.6% 18

47,400,00030.6% 5.0% 5,000,00029.6% 9.1% 7,700,00084.5% 17.4%3.6% 24.6% 6.5% 7,900,000 84.2% 15.4% 19

(4) 217,176 202,739 (28,337) (18,043) 188,839 184,696 17,369 5,303 (46,277) (34,310) (59,529) (55,946) (47,387) (36,280) (5,047) (3,894) (17,582) (210) (3,490) (316) (439) (65) 26,457 58,978 (18,710) (9,124) 7,747 49,854 7,861 49,771 (114) 83 7,747 49,854 20

217,200,000 202,700,0007.1% 192,500,000 183,500,0004.9% 164,209 85.3 148,003 80.6 28,304 14.7 35,530 19.4 192,513 100.0 183,533 100.0 164,200,000 148,000,00010.9% 28,300,000 35,500,00020.3% 24,700,000 19,200,00028.4% (i) (ii) 21

28,300,000 18,000,00057.1% (i) (ii) 10,100,000 2,900,000 188,800,000 184,700,0002.2% 87.0% 4.1% 17,400,000 227.5% 22

46,300,000 34.9%OL 123 61.8% 8,500,000 5,500,000 6.4% 59,500,000 (i) (ii) 42 31.3% 11,100,000 4,900,000 30.6% 47,400,000 336 13.5% 11,200,000 8,400,000 23

5,000,000 29.6%(i) (ii) 21,100,000 3,906.1% A B 400,000 575.4% 18,700,000 105.1% 7,900,000 49,800,000 41,900,000 24

217,176 143,957 (28,337) (14,618) 188,839 129,339 17,369 37,353 (46,277) (24,280) (59,529) (49,783) (47,387) (49,891) (5,047) (5,552) (17,582) (3,490) (439) 26,457 37,186 (18,710) (27,813) 7,747 9,373 7,861 9,292 (114) 81 7,747 9,373 25

217,200,000 144,000,00050.9% 192,500,000 144,000,00033.7% 164,209 85.3 116,161 80.7 28,304 14.7 27,796 19.3 192,513 100.0 143,957 100.0 164,200,000 116,200,00041.4% 28,300,000 27,800,0001.8% 24,700,000 4,200,000489.5% (i) (ii) 26

14,600,00093.9%28,300,000 (i) (ii) 188,800,000 129,300,00046.0% 87.0% 2.8% 53.5%17,400,000 (i) (ii) 90.6%46,300,000 (i) OL (ii) (iii) 27

12325.9% 8,500,000 300,000 19.6%59,500,000 (i)(ii) 42 40.0% 11,100,000 1,500,000 5.0%47,400,000 1,322 1,493 336 202.7% 11,200,000 6,000,000 28

5,000,000 9.1% 32.7% 7,900,000 9,300,000 1,400,000 29

(5) ipad 30

91 91kt.com 3D MMORPG OL 9191 91 Web Wap PCAndroid Android 31

9191 9191 91 DeNA Co., Ltd. Mobage 396 16.4% 32

91 (ly.91.com) 91 (ly.91.com)91 B2C 91 40 10002-5 6 91 91 91 91 (baby.91.com) 91 (baby.91.com) -PC- 91 APP 33

91 Limited (i) IDG-Accel China 91 Limited A A Growth Fund L.P. 91 Limited (ii) IDG-Accel China 0.26 A Growth Fund-A 15,384,000 91 Limited A L.P. A A 91 Limited (iii) IDG-Accel China 0.26 Investors L.P. 3,999,840 5% A A 91 Limited 5,000,000 34

91 Limited B (i) B (ii) 91 Limited B 1.2480499 A 91 4,006,250 91 Limited (iii) 91 Limited Limited 1.2480499 B B B 12% 91 Limited B 1.2480499 B B B B (i) Vertex Asia 91 Limited B B Growth Ltd (ii) IP Cathay II, B L.P. B (iii) DT Capital China 16,025,000 B Growth Fund, L.P. 20,000,000 B 35

2,4091,493 5 2.3 5 36

246,600,000 112,300,000 55,900,000 37

China TMT TMT TOP5 PCHOME 17173 OL 17173 2.5D 91 TOP50 38

91V2.0 91CIE 91 EnfoNet Award 91 39

40

OL 91 17173 17173 2.5D 41

(6) 1,468,900,000 1,218,700,000 1,329,700,000 1,178,300,000 (7) (8) 1,498,900,000 1,451,200,000 (9) 42

(10) (11) 43

(12) 3G MMORPGs MMORPGs MMORPG OL 3D MMORPG OL 44

MMORPGs 2D 3D VS ARPG DeNA DeNA DeNA 45

91 Limited NetDragon Websoft Inc. B NetDragon Websoft Inc. ( NetDragon (BVI) 91 Limited NetDragon(BVI) 91 Limited2,403,750 B 3,000,000(i) (ii)91 Limited A (iii)91 Limited B B 1.2480499 B B B 91 Limited B 1.2480499 12% BB 91 Limited NetDragon (BVI) 2,403,750 B 46

bug 47

DNA DNA 48

= + + - 49

7,000 20 50

50,000 200 30,000 51

2,409 E M M 150 9134.8 60 52

20%180 90% 35,000 40 50 6 42 ND70 80 E-Learning 24 53

40 851 851 851 IT NetDragon (BVI) 91 Limited 54

38 10 NetDragon (BVI) 43 20 851 55

39 10 49 IDG Technology Venture Investment Inc. IDG Technology Venture Investment 12 56

46 (PricewaterhouseCoopers LLP) 46 57

39 Vision Capital Group Tom 40 10 35 10 44 Dresdner Kleinwort Benson 58

39 10 59

40 99 0.1 43,957,000 0.1261,752,000 13 60

30 50,062,000 8,994,000 44,612,000 27,148,000 2.4% 0.8% 100% 40.6% 5% 61

1 2 3 5 1 3 4 5 7 8 1 3 5 6 7 1. 2. 3. 4. 5. 6. 7. 8. 62

1% 13.51B(1) 275,000 303,000 275,000 303,000 275,000 303,000 63

571XV XV 7 8 352 10 1 2 268,492,520(L) 52.18% 3 9,886,000 (L) 98.86% 3 1,000,000 (L) 100.00% 2 268,292,520(L) 52.14% 3 9,886,000 (L) 98.86% 3 1,000,000 (L) 100.00% 2 266,892,520(L) 51.86% 3 9,886,000 (L) 98.86% 3 1,000,000 (L) 100.00% 4 14,784,000(L) 2.87% 5 597,019(L) 0.12% 5 597,019(L) 0.12% 5 597,019(L) 0.12% 64

1. L 2. DJM Holding Ltd. 95.40%DJM Holding Ltd. 36.16% Richmedia Holdings Limited 100.00%Richmedia Holdings Limited 5.12% DJM Holding Ltd. Fitter Property Inc. 4.60% 100.00%DJM Holding Ltd. Fitter Property Inc. 36.16% 4.13% Flowson Company Limited Flowson Company Limited Eagle World International Inc. 100.00% Eagle World International Inc. 6.40% DJM Holding Ltd. Rich media Holdings Limited Fitter Property Inc. Eagle World International Inc. 51.81% 1,600,0001,400,000 284,000 3. 96.05% 2.11% 0.70% 99.00%1.00% 98.86% 4. Cristionna Holdings Limited 99.00%Cristionna Holdings Limited 2.51%1,600,000 284,0000.36% Cristionna Holdings Limited 2.87% 5. 400,000 65

XV XV 7 8 352 37 66

XV 2 3 336 10% 1 DJM Holding Ltd. 186,078,100(L) 36.16% Eagle World 32,952,920(L) 6.40% International Inc. 2 Flowson Company 32,952,920(L) 6.40% Limited 2 3 78,333,320(L) 15.22% 990,000 (L) 99.00% Edmond de Rothschild 30,888,000 6.00% Assets Management Hong Kong Limited 4 Edmond de Rothschild 30,888,000 6.00% Assets Management 4 67

1. L 2. Eagle World International Inc. Flowson Company Limited 100.00% Flowson Company Limited Eagle World International Inc. 6.40% 3. IDG Technology Venture Investments, L.P. IDG-Accel China Growth Fund L.P. IDG-Accel China Growth Fund-A L.P. IDG-Accel China Investors L.P. 2.11% 10.11% 2.06% 0.94% a) IDG Technology Venture Investments, L.P. IDG Technology Venture Investments, LLC IDG Technology Venture Investments, LLC Zhou Quan Patrick J. McGovern b) IDG-Accel China Growth Fund L.P. IDG-Accel China Growth Fund-A L.P. IDG-Accel China Growth Fund Associates L.P.IDG-Accel China Growth Fund Associates L.P. IDG-Accel China Growth Fund GP Associates Ltd. IDG-Accel China Growth Fund GP Associates Ltd. Zhou Quan Patrick J. McGovern 35.00% c) IDG-Accel China Investors L.P. IDG-Accel China Investor Associates Ltd.IDG- Accel China Investor Associates Ltd. James W. Breyer 4. Edmond de Rothschild Asset Management EdRAM(Autorité des marchés financiers) Edmond de Rothschild Asset Management Hong Kong Limited EdRAM HK EdRAMEdRAM HK EdRAM EdRAM EdRAM HK6.00% XV 2 3 336 10% 68

(i) (ii) 15,000,000 69

(1)(2)(3) 70

71

(a) (b) 72

NetDragon Websoft Inc. NetDragon (USA) NetDragon (USA) (1) (2)(3) 98.86% NetDragon (BVI) NetDragon (USA) 14A 73

91 91 Limited 74

91 91 9191 91 (i) (ii) 10,000,000 91 91 91 75

91 91 (a) (b) 76

1. 851 851851I 851 851I 3 851851II 851 851 851II 851851I 851II851 851 851 2,544,384 2,875,154 851 77

2. 851 851851 500,000 567,500 851 851 6,000,000 6,810,000 500,000 567,50012 3. 78

3. (i) (ii) 2,500,000 2,600,000 2,600,000 11,500,000 12,200,000 12,200,000 14,000,000 14,800,000 14,800,000 79

4. I II 91 Limited 91 Limited I II 1,626,000 2,002,000 (i) (ii) (iii) 851 80

(iv) 851 37 3000 740 851 14A.38 851 1. 91 Limited A 91 Limited 91 Limited1,500,000 3,999,840 15,384,000 AA A91 Limited 16% A 91 Limited0.26 A 91 Limited AA A A0.26 5% A 91 Limited1,500,000 91 Limited 15,384,000 A A 81

2. 91 Limited 91 Limited 91 Limited5,000,000 100%91 Limited 91 Limited5,000,000 91 Limited 91 Limited 1.2480499 4,006,250 B 91 Limited 91 Limited 4,006,250 B 14 82

55,401,035.00 13,971,000 1,871,500 4.75 4.51 8,661,655.00 1,746,500 3.85 3.29 6,319,345.00 10,353,000 4.00 3.66 40,420,035.00 83

4.33 1,600,000 1,600,000 4.80 284,000 284,000 4.60 284,000 284,000 4.33 1,400,000 1,400,000 4.80 284,000 284,000 4.60 284,000 284,000 4.80 284,000 284,000 4.60 284,000 284,000 4.33 1,600,000 1,600,000 4.80 284,000 284,000 4.60 284,000 284,000 84

4.80 400,000 400,000 4.60 400,000 400,000 4.80 400,000 400,000 4.60 400,000 400,000 4.80 400,000 400,000 4.60 400,000 400,000 4.33 2,200,000 2,200,000 4.80 13,754,900 553,500 13,201,400 4.60 1,345,500 31,000 1,314,500 6,800,000 19,772,400 2,920,500 23,651,900 1. 16,090,900 4.80 2. 3,681,500 4.60 3. 85

31 10% 1% 16,094,000 14,120,000 3,174,000 16,100,00014,200,000 86

(i) (ii) 5.07 308,742 (299,065) 79,677 5.07 87

14 10 54 59 88

(i) (ii) (iii) (iv) (v) 4/4 4/4 4/4 4/4 4/4 3/4 4/4 1/1 1/1 4/4 4/4 1/1 1/1 4/4 4/4 1/1 1/1 89

3.10 3.13 98.86% NetDragon (BVI) NetDragon (USA) 69 74 91 Limited 91 Limited 10% 91 Limited 9191 Limited 91 74 77 851DJM Holding Ltd. 72.31% 27.69% 851851 851 90

91 Limited 77 81 91

92

93

91 91 Limited 9191 91 91 91 91 91 91 94

1,288 1,550 2,838 95

4.59 2,362,000,000 514,599,860 33.0% 9510 2 96

99 180 97

98

5 760,974 531,772 (75,032) (66,333) 685,942 465,439 5 38,156 60,864 (140,340) (101,993) (210,941) (182,022) (159,269) (162,234) (11,594) (10,392) 27 (17,792) 6 (3,806) (581) 179,775 69,662 8 (44,532) (34,769) 9 135,243 34,893 (1,452) (172) 673 (1,452) 501 133,791 35,394 135,161 34,949 82 (56) 135,243 34,893 99

133,709 35,450 82 (56) 133,791 35,394 12 25.85 6.64 25.85 6.64 100

13 192,119 128,534 14 86,298 87,753 15 15,809 14,551 16 19,050 19,050 17 4,520 13,136 18 12,669 19 4,000 4,000 20 6,314 5,819 21 54 54 340,833 272,897 14 1,784 1,784 20 1,091 893 22 41,555 24,393 41,429 40,072 23 1,079 24 1,200 171 25 40,000 340,828 25 1,428,928 877,823 1,555,987 1,287,043 101

26 5,001 519 121,353 58,218 25,528 23,119 28 965 28 5,328 29 30,623 42,849 21,599 226,319 108,783 1,329,668 1,178,260 1,670,501 1,451,157 27 131,675 27 39,932 171,607 1,498,894 1,451,157 30 38,226 39,264 1,461,126 1,412,433 1,499,352 1,451,697 (458) (540) 1,498,894 1,451,157 99 180 102

1 2 3 4 5 39,264 1,157,364 1,963 9,946 114,642 23,270 (10,757 ) 4,641 (56,491 ) 172,463 1,456,305 (484 ) 1,455,821 34,949 34,949 (56) 34,893 673 (172 ) 501 501 673 (172 ) 34,949 35,450 (56) 35,394 6,268 6,268 6,268 (23,270 ) (23,270 ) (23,270 ) (23,056 ) (23,056 ) (23,056 ) 8,994 (8,994 ) 2,263 (1,370 ) (893 ) 6,697 (6,697 ) 6,697 (14,276 ) 2,263 4,898 (39,640 ) (40,058 ) (40,058 ) 39,264 1,157,364 1,963 9,946 121,339 8,994 673 (8,494 ) 9,539 (56,663 ) 167,772 1,451,697 (540 ) 1,451,157 135,161 135,161 82 135,243 (1,452 ) (1,452 ) (1,452 ) (1,452 ) 135,161 133,709 82 133,791 2,209 2,209 2,209 (1,038 ) (44,359 ) 1,038 (1,038 ) (45,397 ) (45,397 ) 10,085 10,085 10,085 (8,994 ) (8,994 ) (8,994 ) (43,957 ) (43,957 ) (43,957 ) 50,062 (50,062 ) 942 (570 ) (372 ) 19,544 (19,544 ) (1,038 ) (44,359 ) 1,038 2,209 19,544 41,068 942 9,515 (114,973 ) (86,054 ) (86,054 ) 38,226 1,113,005 3,001 2,209 9,946 140,883 50,062 673 (7,552 ) 19,054 (58,115 ) 187,960 1,499,352 (458 ) 1,498,894 ` 1. 2. 29 3. 4. 5. 103

179,775 69,662 581 (4,000) (1,990) (3,573) 17,792 3,806 (11,755) (12,344) (1,348) (4,655) 1,455 566 11,363 6,856 35,923 51,447 10,085 6,268 42 366 179 16 245,908 110,609 (17,312) (10,281) (1,227) 28,269 2,427 3,968 (1,029) (171) 4,482 234 63,135 (9,958) 2,409 4,930 965 299,758 127,600 (23,282) (23,085) 276,476 104,515 104

11,625 10,582 4,000 32 (58,149) (13,250) 420 317 (10,000) 310,828 211,142 (693) 1,494 29,000 (33,901) (100,904) (30,146) (3,088) (7,250) (19,050) 194,938 108,039 31,774 151,857 (52,951) (46,326) (5,328) 5,328 (45,397) 79,955 (40,998) 551,369 171,556 877,823 705,053 (264) 1,214 1,428,928 877,823 105

1. Cricket Square, Hutchins Drive, P.O. Box 2681, Grand Cayman KY1-1111, Cayman Islands200 22 2209 2. 24 32 14 19 106

2. 7 1 7 2 9 3 9 9 3 7 10 2 11 2 12 2 13 2 1 5 12 4 19 2 27 2 28 2 32 6 2 20 1 2 3 4 5 6 107

2. 9 9 9 9 939 9 9 9 39 9 9 108

2. 10 11 122728 1027 1210 (a)(b) (c) 10 13 13 13 13 7 13 13 13 109

2. 1 1 1 (a) (b) 1 110

3. 111

3. 39 36 36 112

3. 113

3. 114

3. 115

3. 116

3. 117

3. 118

3. 119

3. 120

3. 121

3. 122

3. 123

3. 124

3. 125

3. 126

3. 127

3. 4. 3 128

4. 599,604,000 431,103,000 144,785,000 169,485,000 308,833,000 209,338,000 129

5. 701,565 531,772 a 59,409 760,974 531,772 1,990 3,573 4,000 b 18,659 26,759 11,755 12,344 a 6,656 1,348 4,655 1,000 303 96 4,101 2,781 38,156 60,864 a. b. 130

6. 1,309 27 2,497 3,806 7. 701,565 59,409 760,974 279,359 (9,374) 269,985 19,538 (109,167) (581) 179,775 131

7. 531,772 6,656 538,428 (6,656) 531,772 124,515 (16,169) 108,346 20,966 (59,650) 69,662 132

7. 1,513,587 1,284,684 216,745 5,755 1,730,332 1,290,439 166,488 269,501 1,896,820 1,559,940 630,948 414,003 125,365 113,643 4,661 4,126 760,974 531,772 133

7. 291,536 219,082 38,835 43,919 94 23 330,465 263,024 10% 134

8. 6,531 1,649 27,681 9,218 10,100 3,591 20,082 37,781 32,891 220 229 44,532 34,769 16.5% 15% 135

8. 25% 7.5% 12.5% 20,082,000 25% 12.5% 12.5% 12.5% 34% 34%8.84% 8.84% 136

8. 179,775 69,662 25% 25%a 44,944 17,416 145 (3,907) (156) 22,243 9,903 6,175 6,546 (3,279) (2,747) (3,353) (829) b (6,632) (7,612) (22,029) (11,377) 10,100 3,591 20,082 125 (48) 44,532 34,769 a. 25% b. 50% 21 137

9. 5,437 6,377 234,451 224,018 19,575 17,545 7,337 2,187 266,800 250,127 1,288 611 1,550 906 2,838 1,517 179 16 7,427 4,818 3,936 2,038 1,455 566 35,923 51,447 15,346 22,020 38,782 36,359 15,202 14,438 42 366 138

10. 485 770 1,255 486 11 683 1,180 131 11 71 213 646 11 770 1,427 303 151 454 303 151 454 303 151 454 909 1,748 33 2,747 5,437 139

10. 455 1,342 1,797 470 11 1,173 1,654 121 10 131 395 9 1,341 1,745 275 75 350 275 75 350 275 75 350 825 1,441 30 4,081 6,377 5,314 6,244 32 21 5,346 6,265 140

10. 1,000,001 1,500,000 1 2,000,001 2,500,000 2 3,000,001 3,500,000 2 3 2 11. 0.10 0.05 43,957 23,056 0.02 0.05 8,994 23,270 52,951 46,326 0.12 0.02 50,062,000 8,994,000 141

12. 135,161 34,949 522,948 526,675 (i) (ii) 142

13. 36,913 23,717 162,170 8,372 7,084 238,256 (1,065) (16) (12) (1,093) 21,361 7,445 1,442 8,793 39,041 141 14,924 15,065 22,008 (22,008) (117) (1,032) (1,525) (2,674) (10,581) (10,581) 25,267 66,953 168,712 8,289 8,793 278,014 (949) (23) (19) (991) 6,948 7,998 1,465 84,493 100,904 2,272 (2,272) (3,352) (5,393) (745) (9,490) 24,318 72,798 171,298 9,009 91,014 368,437 609 7,885 87,930 3,821 100,245 (13) (3) (9) (25) 920 9,938 38,786 1,803 51,447 (53) (974) (964) (1,991) (196) (196) 1,320 17,767 125,733 4,660 149,480 (36) (6) (15) (57) 749 8,481 25,204 1,489 35,923 (3,352) (5,063) (613) (9,028) 2,033 22,890 145,859 5,536 176,318 22,285 49,908 25,439 3,473 91,014 192,119 23,947 49,186 42,979 3,629 8,793 128,534 143

13. 20 20% - 33.33% 19% - 31.67% 19% - 23.75% 18,142 19,557 4,143 4,390 22,285 23,947 14. 1,784 1,784 86,298 87,753 88,082 89,537 144

15. 11,058 (80) 3,573 14,551 (732) 1,990 15,809 16. 145

17. 5,010 16,348 21,358 (602) (602) 1,690 5,560 7,250 6,700 21,306 28,006 (1,077) (1,077) 3,088 3,088 6,700 23,317 30,017 974 7,404 8,378 (364) (364) 1,924 4,932 6,856 2,898 11,972 14,870 (736) (736) 3,802 7,561 11,363 6,700 18,797 25,497 4,520 4,520 3,802 9,334 13,136 50% 17.39% - 50% 146

18. 13,250 (581) 12,669 50% 3,000,000 a 35% 5,000,000 b 12% 579,600 a 40% 15,000,000 b 147

18. a 5,500,000 1,741,000 1,141,0002,618,00012% b 24,467 (461) 24,006 8,910 384 1,897 581 148

19. 4,000 8519.5% 20. 7,405 6,712 1,091 893 6,314 5,819 7,405 6,712 % % 4.896 4.896 149

21. 54 78,858,000 54,158,000 192,615,000 205,731,000191,853,000 204,969,000 22. 30 90 30 0 30 22,261 18,250 31 60 5,364 4,876 61 90 6,737 1,000 90 7,193 267 41,555 24,393 150

22. 15,839,000 6,143,000 31 60 3,577 4,876 61 90 5,069 1,000 90 7,193 267 15,839 6,143 311 295 179 16 490 311 490,000 311,000 151

23. 1,079 24. 161B 1,200 171 1,200 152

25. 0.001% 3.50% 0.001% 2.25% 49,983 35,755 342,359 271,549 26. 0 90 4,641 508 91 180 323 181 365 26 365 11 11 5,001 519 153

27. 91 Limited3,999,840 25,839,000 IDG-Accel China Growth Fund-A L.P. IDG-Accel China Investor L.P. IDG-Accel China Growth Fund L.P.15,384,000 0.0001 A 20,000,000126,018,000Vertex Asia Growth Ltd. IP Cathay II L.P. DT Capital China Growth Fund, L.P. 16,025,0000.0001 B A B A BA B 1:1 150,000,000 50,000,000A 500,000,000 150,000,000B A A B A B B 154

27. A A A 0.26 5%A B B B 1.248 12%B A AA 0.26 5% B A B B 1.248 12% A BA B 16.834% 155

27. A B 129,435 22,422 (257) (282) 2,497 17,792 131,675 39,932 91 Limited 18.97% 18.84% 18.45% 18.45% A B A (i) 1.04% 0.81% (ii) 51.06% 71.83% B (i) 0.64% 0.62% 0.62% (ii) 72.87% 72.17% 72.17% 156

27. (i) (ii) 28. 29. 91 Limited27 5,000,00031,774,000 91 Limited 91 Limited 8% B 1.248 4,006,250 B 157

29. 15.64% 4,652,00029,565,000348,000 2,209,000 30. 0.01 1,000,000,000 10,000,000 75,771 0.01 528,570,860 5,285,709 39,264 (13,971,000) (139,710) (1,038) 514,599,860 5,145,999 38,226 13,971,000 45,397,000 158

31. (i) 23,651,900 6,800,0004.60% 1.29% 10% 30%12 0.1% 5,000,000 1 28 10 (i) (ii) (iii) 159

31. (i) 1,360,000 1,360,000 1,360,000 1,360,000 1,360,000 6,800,000 1,038,890 2,027,085 2,702,780 3,378,475 4,054,170 13,201,400 160

31. (i) 382,600 221,250 470,400 331,875 827,200 529,200 284,000 119,625 340,800 143,550 3,650,500 4.33 6,800,000 6,800,000 4.80 13,513,900 312,500 13,201,400 4.60 3,681,500 31,000 3,650,500 6,800,000 17,195,400 343,500 23,651,900 4,080,000 4.33 4.63 161

31. (i) 4.33 6,800,000 6,800,000 2,720,000 23,651,900 23,288,0005,739,000 4.8 4.8 2.39% 8 43.07% 1.46% 4.6 4.6 1.96% 8 43.23% 1.52% 162

31. (i) 9,903,000 5,697,000 (ii) 10% 1% 163

31. (ii) 28 28 28 182,000 571,000 308,742 (229,065) 79,677 164

31. (ii) 376,832 376,832524,594 229,065 79,677 98,509 (98,509) 98,509 (98,509) 98,509 (98,509) 537,809 (229,067) 308,742 833,336 (524,594) 308,742 165

32. 15,065 42,380 307 677 15 9,555 (295) 67,704 67,704 (9,555) 58,149 166

33. 167,871 167,871 339 159 929,674 807,534 92,633 207,217 (19,657) (1,622) (1,894) (1,894) 1,168,966 1,179,265 38,226 39,264 1,130,740 1,140,001 1,168,966 1,179,265 34. 167

35. 1,529,626 1,272,850 1,079 4,000 4,000 277,490 58,737 39,932 168

35. (i) 72,296 58,068 30,352 12,430 342,426 271,615 203,440 1,271 169

35. (i) 5% 5% 5% 5%5% (1,573) (1,905) (5,212) (11,286) 5% 170

35. (ii) 20 25 5% 41,876,000 38,076,000 171

35. 172

35. % 5,001 5,001 5,001 109,226 109,226 109,226 965 965 965 15.64 31,505 31,505 30,623 16.834 244,746 244,746 131,675 39,932 39,932 39,932 146,697 284,678 431,375 317,422 % 519 519 519 58,218 58,218 58,218 58,737 58,737 58,737 173

35. 17,792,000 27 174

36. 5%1,000 19,608,000 17,575,000 37. 851 851 DJM Holding Ltd. 86.16% 175

37. 851 6,000 6,000 851 2,544 2,544 12,199 10,393 2,438 2,227 71 34 5,000,000 31,774,000 3,999,84025,839,000 1,700,000 700,000 4.896% 700,000 1,000,000 6,401 5,825 93 93 2,888 4,534 9,382 10,452 176

38. 134,289 149,072 39. 7,963 13,283 4,024 8,321 12,024 14,041 24,011 35,645 5 177

39. 303,000 97,000 2.1% 188 311 197 188 508 40. % % NetDragon Websoft Inc. 222,203.93 100 100 * 10,000,000.00 # 345,000,000.00 100 100 * 1,000,000.00 178

40. % % NetDragon Websoft Inc. 600,000.00 100 100 1.00 100 100 1.00 100 100 # 50,000,000.00 100 100 50,000,000.00 100 100 # 91 Limited 8,076.60 100 # 33,000,000.00 100 * 10,000,000.00 179

40. * # 180