02 04 06 08 12 14 21 38 42 46 51 67 87 88 89 90 92 93 95 97 148

38.75 10.13 22.81 4,700 680 615,000 1 50,000 7,000 700 2,000 40,000 6,000 600 1,800 1,600 5,000 500 1,400 30,000 4,000 400 1,200 1,000 20,000 3,000 300 800 2,000 200 600 10,000 1,000 100 400 200 0 0 0 0 05 06 07 08 09 05 06 07 08 09 05 06 07 08 09 05 06 07 08 09 02

2 3,874.7 3,004.1 +29% 1,073.0 1,141.7 6% 1,013.0 1,154.5 12% 200.4 182.0 +10% 3,437.0 2,294.4 +50% 1,816.2 1,465.9 +24% 22.81 25.61-11% 22.63 25.58-12% 47,732,916 38,075,335 +25% 11,578,247 7,914,630 +46% 36,154,669 30,160,705 +20% 6,819,984 4,614,250 +48% 1,400,326 965,747 +45% 5,419,658 3,648,503 +49% 615,212 432,031 +42% Gold Supplier 96,110 43,028 +123% Gold Supplier 17,786 16,136 +10% 501,316 372,867 +34% 3 % 4 4,000 1,400 1,500 50 3,500 3,500 3,000 1,200 1,000 1,200 40 3,000 2,500 2,500 800 900 30 2,000 2,000 1,500 600 600 20 1,500 1,000 500 400 200 300 10 1,000 500 0 05 06 07 08 09 0 0 0 0 05 06 07 08 09 05 06 07 08 09 05 06 07 08 09 1 2009 2 3 20052006 B2B 4 03

Inc. 100 Gold Supplier Logo Group 1 2 1 2 3 3 4 5 04 2009

05 5 5 5 6 7 4 5 6 7

2009 50 50 20010 3A 6020 IR Magazine 100 CCTV 06

05 Fast Company IR Magazine 05 05 05 05 05 05 05 05 05 05 05 05 05 05 05 05 05 05 05 05 05 05 05 05 05 05 05 05 05 05 05 05 05 05 05 05 05 05 05 05 05 05 05 05 05 05 05 05 05 05

08

Maples and Calder Trident Trust Company (Cayman) Limited Fourth Floor, One Capital Place P.O. Box 847GT Grand Cayman Cayman Islands 18 25 HSBC Trustee (Cayman) Limited PO Box 484, HSBC House 68 West Bay Road Grand Cayman, KY1-1106 Cayman Islands 183 17 1712 1716 www.alibaba.com www.1688.com www.alibaba.co.jp 1688 1688 HK 1688.HK 699 310052 09

10

12

13 B2B Back to Basics 1 110 102 IT C2B2B Consumer-to-Business-to- Business

14

3 1,100 Gold Supplier Gold Supplier 123.4% 96,000 Gold Supplier Gold Supplier 3,620540 48.5% 128,449 34.4% 20 IT Software as a Service SaaS 3,000 60 IT 15

GPS SaaS 2.0 42.4%615,212Gold Supplier Gold Supplier 123.4% 53,000 372,000 34.4% 500,000 34 49.8% 29.0% 39 11 10 18 23.9% 8 8 8 30 16

17 3,516 650 3,000 60 4649 IT 1688.com

18

20

6%20% () 1.5% 0.13% 1.35 5 4,770 615,212 970220183,000 29.0% 39 21

China Civilink (Cayman) 1 2 3 80 3449.8% 18 23.9% 72 3,663,617 46.3% 11,578,24745.0% 1,400,326 3 1,949,741 3,115,153 4,405,557 7,914,630 11,578,247 292,414 514,891 697,563 965,747 1,400,326 (1) 19,983 29,525 39,536 59,164 113,896 Gold Supplier 12,192 18,682 27,384 43,028 96,110 Gold Supplier (2) 7,791 10,843 12,152 16,136 17,786 (1) (2) Gold Supplier 1 1,826,507 15.8% 2 1,274,305 11.0% 3 (1) 1,039,585 9.0% 4 661,293 5.7% 5 302,671 2.6% (1) 22

23

24

Gold Supplier Gold Supplier 96,110 Gold Supplier 53,082 123.4% 11,242 Gold Supplier13.2% Gold Supplier Gold Supplier Gold Supplier Gold Supplier Gold Supplier Gold Supplier Gold Supplier 2,999 Gold Supplier Gold Supplier 17,786 Gold Supplier 1,650 Gold Supplier Gold Supplier B2B 130 Alibaba.com Japan Co., Ltd. 25

Gold Supplier Gold Supplier Gold Supplier 636,154,669 48.5% 5,419,658 9,019,214 16,649,073 23,194,402 30,160,705 36,154,669 1,002,768 1,557,874 2,259,283 3,648,503 5,419,658 (1) 121,631 189,573 266,009 372,867 501,316 (1) 501,316 128,44934.4% 25,894 2,800 2.0 26

3,000 60 IT IT IT IT Software as a Service,SaaS IT 300 27

50 4,300 Gold Supplier 1,9001,000 11,716 8,200 602 16 9 8 1010 7 5 20 615,212 42.4% 29.0% 38 7 4 70 304 1012.3%10 1 3 11 5 4 50 25.6110.9% 22.81 Gold Supplier 2,344,475 1,842,884 501,591 60.5% 61.3% Gold Supplier 62,329 41,082 21,247 1.6% 1.4% 2,406,804 1,883,966 522,838 62.1% 62.7% 1,344,029 1,026,883 317,146 34.7% 34.2% 70,868 67,176 3,692 1.8% 2.2% 1,414,897 1,094,059 320,838 36.5% 36.4% 53,027 26,102 26,925 1.4% 0.9% 3,874,728 3,004,127 870,601 2009 2008 28

304 10 29.0%38 7 4 70 Gold Supplier Gold Supplier Gold Supplier 18 8 427.8%246 80 Gold Supplier Gold Supplier Gold Supplier 53,082 96,110 43,028 123.4% Gold Supplier1,650 17,786 16,136 10.2%Gold Supplier Gold Supplier 2,999 Gold Supplier Gold Supplier 10 9 4 1029.3%14 1 4 90 128,449 501,316 372,867 34.4% 29

222,758 158,325 64,433 190,052 153,860 36,192 93,337 66,268 27,069 28,291 22,198 6,093 534,438 400,651 133,787 5.8% 5.3% 4.9% 5.1% 2.4% 2.2% 0.7% 0.7% 13.8% 13.3% 2009 2008 470 33.4%5 3 4 40 1 5 901 86.2% 86.7% 11 4 1 706.0% 10 7 3 38.0%27.7% GAAP 13 2 3 703.8%12 7 3 40 GAAP 44.1%32.9% 30

1,623,845 1,108,129 515,716 41.9% 36.9% 384,333 214,038 170,295 409,708 322,246 87,462 9.9% 7.1% 10.6% 10.7% 2,417,886 1,644,413 773,473 54.7% 62.4% 2009 2008 118 1046.5%16 2 3 80 5 5 705 8 30 41.9%36.9% 2 1 4 79.6%3 8 4 30 3 2 802 Gold Supplier 7.1%9.9% 3 2 2 20 27.1%49 70 9 6 9 3 70 10.6% 10.7% 1 8 2 6017.6%1 560 1.6% 1 1 3 5010.4% 10.0% 7 4 1 30 31

2 4 5 1042.7% 1 450 3 7 50 1 6 10133.1% 25% 15% 15% [2008] 1 10% 10% 10% 25% 5% 6 8 3 4 2008] 1 25% : 25% 2 13022.3% 1 6 3 40 13.9% 15.4% 32

15,874 10,015 5,859 55,667 58,253 (2,586) 32,805 19,987 12,818 96,039 93,704 2,335 200,385 181,959 18,426 0.4% 0.3% 1.4% 2.0% 0.9% 0.7% 2.5% 3.1% 5.2% 6.1% 2009 2008 Alibaba Group Holding Limited 240 1 8 210.1% 6.1%5.2% 10 1 311 5 4 50 12.3% 2 2 80 5 70 1 4 20 22.81 22.63 25.61 25.58 ( 1 2 3 80)34 3 7 22 9 4 4049.8% Gold Supplier 33

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36

38

39 Alibaba Group Holding Limited ) 25 30 10 SOFTBANK CORP. (APEC) APEC B2B Kingfisher Asia Ltd. B2B Gold Supplier

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44

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48 Inc. 10 1 5.12 20 30 50

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53

3.13 3.13 3.13 3.13 54

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56

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52 87 59

60

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, 30,000 http://ir.alibaba.com 63

3,000,000 10% 10% 64

http://ir.alibaba.com APEC 65

Alibaba Group Holding Limited (1) (2) (3) 80 100 http://ir.alibaba.com 66

www.alibaba.com www.1688.com B2B 123 124 18 88 96 2010 18 8 8 26 1 12116 114 115 10 41 8 12924 148 9394 130 26 67

31 950 130 3.13 38 41 68

XV 352 1. 0.0001 (8) 15,369,053 15,369,053 0.30% 512,000 48,250,000 48,762,000 (1) 0.97% 148,000 9,650,000 9,798,000 (2) 0.19% 10,948,900 10,948,900 (3) 0.22% 3,660,000 3,235,500 6,895,500 (4) 0.14% 4,125,000 1,000,000 5,125,000 (5) 0.10% 120,000 11,401,560 11,521,560 (6) 0.23% 94,000 94,000 0.00% 30,000 30,000 0.00% 100,000 100,000 0.00% 100,000 100,000 0.00% 9,600,000 9,600,000 (7) 0.19% 69

(1) (a) 512,000 (b) Maimex Company Limited Alibaba Group Holding Limited Direct Solutions Management Limited 48,250,000 (2) (a) 148,000 (b) Sheenson Development Limited Direct Solutions Management Limited 9,650,000 (3) (a) 1,948,900(b) 9,000,000 (4) (a) 3,560,000100,000 (b)infogrand Technology Limited2,385,500(c) Infogrand Technology Limited Direct Solutions Management Limited 850,000 (5) (a) 1,175,000(b) 2,950,000 (c) Netyan Enterprises Ltd.Direct Solutions Management Limited 1,000,000 (6) (a)120,000(b) Parufam Limited 3,000,000(c) MFG Limited3,140,802 (d)mfg II Ltd. 5,260,758 (7) CSS Development Limited9,600,000 (8) 5,039,701,540 70

2. (a) (10) 127,035,813 52,847,360 987,500 180,870,673 (1) 7.43% 3,400,000 220,000 3,620,000 (2) 0.15% 600,000 45,000 645,000 (3) 0.03% 1,301,800 1,301,800 (4) 0.05% 1,032,000 1,032,000 (5) 0.04% 422,751 52,249 475,000 (6) 0.02% 2,442,964 160,000 71,926,932 800,000 75,329,896 (7) 3.10% 320,000 800,000 1,120,000 (8) 0.05% 5,600,000 7,200,000 12,800,000 (9) 0.53% (1) (a) 35,785,677 (b) JC Properties Limited 91,250,136 (c) JSP Investment Limited 52,847,360(d) 987,500 (2) (a) 3,400,000(b)220,000 (3) (a) 600,000(b)45,000 (4) 1,301,800 71

(5) 1,032,000 (6) (a) 422,751(b) Netyan Enterprises Ltd. 52,249 (7) (a) 2,442,964 (b)160,000 (c) MFG Limited17,560,780 (d) Parufam Limited 25,405,952 (e) PMH Holding Limited28,960,200 (f)800,000 (8) (a) 320,000(b)800,000 (9) CSS Development Limited(a) 5,600,000(b)7,200,000 (10) 2,432,801,434 (b) 1. 8,000,000 10,000,000 80% 2. 8,000,000 10,000,000 80% 3. 800,000 1,000,000 80% 4. 8,000,000 10,000,000 80% 5. 1,480,000 1,850,000 80% 6. 40,000,000 50,000,000 80% 7. 168,800,000 211,000,000 80% 352 72

3. 1. 135,100,0002.67% 75,002,995 1.49% 19,892,020 65,361,827 1.30% 9.700 65,352,127 1.30% 73

01/01/2009 31/12/2009 1 100,000 100,000 23/01/2009 100,000 100,000 3,600,409 (897,554) (279,941) 2,422,914 01/02/2008 233,136 (58,278) (27,312) 147,546 20/06/2008 230,000 230,000 17/12/2008 5,675,000 (2,800) (695,450) 4,976,750 23/01/2009 5,371,456 (303,972) 5,067,484 06/02/2009 2,907,240 (394,044) 2,513,196 01/04/2009 2,944,168 (375,096) (239,942) 2,329,130 04/09/2009 2,105,000 2,105,000 28/12/2009 4,063,545 19,002,864 (1,333,728) (1,940,661) 19,792,020 4,063,545 19,102,864 (1,333,728) (1,940,661) 19,892,020 (1) (2) 2. (a) (i) (ii) 74

(iii) (1) X = (A+B) (C+D+E) X = A = 135,100,000 B = C = D = E = (2) 135,100,0002.67% 42,951,150 68,656,565 1.36% 9,700 68,971,240 1.37% (iv) 1% (v) 75

(vi) (vii) 1 (viii) (1) (2) (3) (ix) 76

(b) 01/01/2009 31/12/2009 1 2 3 512,000 512,000 01/02/2008 01/02/2009 01/02/2014 19.86 18.46 74,000 74,000 01/02/2008 01/02/2009 01/02/2014 19.86 18.46 74,000 74,000 23/01/2009 23/01/2010 23/01/2015 5.71 5.61 4 9,000,000 9,000,000 01/04/2009 01/04/2010 01/04/2015 7.25 7.12 4 360,000 360,000 01/02/2008 01/02/2009 01/02/2014 19.86 18.46 200,000 200,000 23/01/2009 23/01/2010 23/01/2015 5.71 5.61 3,000,000 3,000,000 01/04/2009 01/04/2010 01/04/2015 7.25 7.12 225,000 225,000 01/02/2008 01/02/2009 01/02/2014 19.86 18.46 225,000 225,000 23/01/2009 23/01/2010 23/01/2015 5.71 5.61 2,500,000 2,500,000 01/04/2009 01/04/2010 01/04/2015 7.25 7.12 1,171,000 14,999,000 16,170,000 4,269,500 (616,000) 3,653,500 01/02/2008 12/11/2009 01/02/2014 19.86 18.46 01/02/2009 01/02/2014 2,360,000 (370,000) 1,990,000 20/06/2008 28/01/2010 20/06/2014 12.74 12.00 7,007,000 (11,312) (706,938) (82,000) 6,206,750 17/12/2008 02/10/2008 17/12/2014 5.54 5.50 18.13 12/11/2009 17/12/2014 3,494,700 (496,800) 2,997,900 23/01/2009 23/01/2010 23/01/2015 5.71 5.61 7,796,000 (235,000) (20,000) 7,541,000 01/04/2009 19/12/2010 01/04/2015 7.25 7.12 06/02/2010 01/04/2015 01/04/2010 01/04/2015 2,302,000 (200,000) 2,102,000 04/09/2009 16/05/2010-04/09/2015 20.60 19.76 2,290,000 2,290,000 28/12/2009 21/08/2010 28/12/2015 17.62 16.88 13,636,500 15,882,700 (11,312) (2,624,738) (102,000) 26,781,150 14,807,500 30,881,700 (11,312) (2,624,738) (102,000) 42,951,150 (1) (2) (3) (4) 77

(5) 2.443.088.897.65 (%) (%) (%) 23/01/2009 52.59 4.25 1.17 01/04/2009 52.12 51.75 51.75 4.38 4.25 4.25 1.47-1.49 04/09/2009 51.83 52.32 4.38 4.25 1.45-1.48 28/12/2009 51.89 52.17 4.38 4.25 1.61-1.66 240 1 8 2 13113927 144 14635 XV336 6 3,709,044,182 1 3,709,044,182 73.60% 104,277,055 2 104,277,055 2.07% Yahoo! Inc. 3,709,044,182 3 3,709,044,182 73.60% 104,277,055 4 104,277,055 2.07% 78

(1) 104,277,055 (2) (3) 3,709,044,182 Yahoo! Inc. (4) (2) 104,277,055 (5) 5,039,701,540 XV 336 51 66 63 79

14A.45 14A.46 28Alisoft Holding Limited 1 9 62 14A.3214A 1. B2B 80% 20% (a) (b) (c) (d) 80

(i) (ii)(iii) 14A.42(3) (a) (b) (c) (i) (ii) (iii) 4400 (a) (b) (c) 2. (a) (b) (c) (d) (e) (f) (g) 81

(h) 15% 1 4 80 3. 8 50 4. (a) 20% 80%20% 80% (b) 15% 40%60% 85% 82

2 70 5. (a) B2B (b) B2B (c) B2B (a) (b) (c) 7 3 50 83

6. 1 14.8 15 2 8.5 24 3 2.7 151 4 73.5 110 (i) (ii)(iii) 14A.38 4400 (a) (b) (c) 14A.38(2) 15% 50% 70%20% 80% 144 146 35 84

7. 5% 18%7% 5% 5.477.50 11,000,000 01/2009 1,000,000 5.50 5.47 5,497,830 02/2009 10,000,000 7.50 6.94 73,424,875 11,000,000 78,922,705 85

86

88 147 87

6 2,406,804 1,883,966 6 1,414,897 1,094,059 6 53,027 26,102 3,874,728 3,004,127 (534,438) (400,651) 3,340,290 2,603,476 (1,623,845) (1,108,129) (384,333) (214,038) (409,708) (322,246) 7 150,566 182,637 8 1,072,970 1,141,700 9 140,941 239,207 19 (37,492) (16,087) 1,176,419 1,364,820 13 (163,393) (210,317) 1,013,026 1,154,503 1,013,026 1,154,503 1,013,026 1,154,503 14 888,261 15 20.10 22.85 15 19.94 22.83 15 22.81 25.61 15 22.63 25.58 97 147 88

1,013,026 1,154,503 247 (24,650) 222 1,013,495 1,129,853 97 147 89

27,915 28,502 16 783,122 386,545 17 202,631 17 165,506 6,615 19 3,802 31,719 31 73,165 310,025 20 22,386 21 4,234 10,768 22 31,087 16,763 1,313,848 790,937 35(c) 37,925 12,678 21 309,028 186,476 22 529,496 308,416 20 50,000 23 4,467,755 3,923,373 23 2,748,690 2,688,951 8,142,894 7,119,894 9,456,742 7,910,831 24 485 486 4,976,605 4,906,575 4,977,090 4,907,061 41,059 5,018,149 4,907,061 90

30 204,285 118,277 29 67,602 31 69,641 341,528 118,277 30 3,232,690 2,176,120 28 23,907 15,576 35(c) 20,215 107,961 29 785,577 429,113 34,676 156,723 4,097,065 2,885,493 4,438,593 3,003,770 9,456,742 7,910,831 4,045,829 4,234,401 5,359,677 5,025,338 97 147 91

18 1,717,429 1,607,905 21 101 631 18, 35(c) 1,530,401 1,574,748 35(c) 205 23 120 24,816 1,530,827 1,600,195 3,248,256 3,208,100 24 485 486 25 3,190,451 3,165,458 26 3,190,936 3,165,944 18, 35(c) 49,637 34,232 35(c) 1,676 2,523 29 6,007 5,401 57,320 42,156 3,248,256 3,208,100 1,473,507 1,558,039 3,190,936 3,165,944 97 147 92

24 25(a) 24(a) 25(b) 486 2,893,132 (55,787) 20,357 119,615 635,278 3,613,081 1 4,116 25,434 (43,359) (13,809) 486 2,897,248 (30,353) 20,357 119,615 591,919 3,599,272 1,154,503 1,154,503 (24,650) (24,650) (24,650) 1,154,503 1,129,853 (12,401) (12,401) 27(d) 190,337 190,337 177,936 177,936 130,513 (130,513) 486 3,075,184 (30,353) (4,293) 250,128 1,615,909 4,907,061 93

24 25(a)24(b) 25(b) 486 3,067,924 (55,787) (4,293) 250,128 1,709,951 4,968,409 4,968,409 1 7,260 25,434 (94,042) (61,348) (61,348) 486 3,075,184 (30,353) (4,293) 250,128 1,615,909 4,907,061 4,907,061 1,013,026 1,013,026 1,013,026 247 247 247 222 222 222 247 222 1,013,026 1,013,495 1,013,495 (1) (69,803) 1 (1) (69,804) (69,804) 55 55 55 14 (888,261) (888,261) (888,261) 1 (118,239) (118,239) (118,239) 14.67% 1 29 (67,602) (67,602) (67,602) 27(d) 200,385 200,385 200,385 (1) 130,637 (185,841) 1 (888,262) (943,466) (943,466) 105,675 (105,675) 1 41,059 41,059 485 3,205,821 (216,194) 1 (4,046) 355,803 222 1,634,998 4,977,090 41,059 5,018,149 97 147 94

1,176,419 1,364,820 587 586 119,380 80,669 6,615 7,216 200,385 181,959 37,492 16,087 7(iii) (6,980) (41,281) 191 (61) (140,479) (245,055) (462) 5,848 (6,555) 16,907 (1,815) (6,224) (228,812) (95,181) 950,714 355,461 8,331 2,693 (30,268) 88,605 234,380 113,854 2,319,123 1,846,903 (78,908) (256,840) 2,240,215 1,590,063 95

(503,487) (2,970,991) (410,744) (275,680) (922,152) 2,737 2,153 850,000 176,206 143,110 (9,513) 1 (193,440) 85% 32 (221,364) (1,222,244) (3,110,921) (66,472) (69,804) (12,401) 55 (888,261) (958,010) (78,873) 59,961 (1,599,731) 2,688,951 4,321,170 (222) (32,488) 23 2,748,690 2,688,951 2,748,690 2,688,951 4,467,755 3,923,373 7,216,445 6,612,324 97 147 96

1 22 Fourth Floor, One Capital Place, P.O. Box 847GT, Grand Cayman, Cayman Islands Alibaba Group Holding Limited www.alibaba.com www.1688.com www.alibaba.co.jp B2BB2B Alibaba Group Holding Limited 1 9 3 40 1 4 60 5 2 2 78 7568 3 36 Rich Premier Holdings Limited Amplecity Holdings Limited Keen Bond Holdings Limited King Long Management LimitedSYNNEX Investment Holdings Corporation Platane Capital Limited China Civilink (Cayman)99.67% 5 3 9 80 7 9 10 4 3 5 30 6 3 8085% 14 50(1 5 30 14.67%29 51% 97

1 22 63 1 www.net.cn 2 2.1 4 13 1 8 1 1 27 27 2 7 7 27 3 17 38 2 3 1 4 20 5 3 98

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2 2.2 (a) 5 (i) (ii) 100

2 2.2 (a) (ii) (b) 20% 50% 101

2 2.2 (b) 2.3 2.4 (a) (b) (c) (i) (ii) (iii) 102

2 2.5 50 2.6 20 48 2 20 3 3 2.7 103

2 2.8 (a) (b) (c) 2 5 10 15 3 5 2.9 104

2 2.10 2.11 2.12 2.13 2.14 2.15 105

2 2.16 2.17 2.18 (a) (b) (c) 106

2 2.18 2.19 B2B (a) B2B B2B 107

2 2.19 (b) (c) 5% 2.20 2.21 2.22 108

3 (a) 2% 5 57 43 21 2 2% 1 8 61 23 5 80 (b) 50 3 64 43 2 92 3 (c) 12 109

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3 (f) 4 (a) 238 5 1 8 1 95 9 27(d) 111

4 (b) (c) 5 B2BB2B 112

6 Gold Supplier 2,344,475 1,842,884 Gold Supplier 62,329 41,082 2,406,804 1,883,966 1,344,029 1,026,883 (i) 70,868 67,176 1,414,897 1,094,059 (ii) 53,027 26,102 3,874,728 3,004,127 (i) (ii) 7 (i) 113,500 102,840 (ii) 26,806 17,121 (iii) 6,980 41,281 3,280 21,395 150,566 182,637 (i) (ii) (iii) Alibaba.com Japan Co., Ltd. www.alibaba. co.jpb2b SOFTBANK CORP.SoftbankSoftbank 64.7%4 1 28 1 10.0%35.30% 31.77%6 98 113

8 7(iii) 6,980 41,281 61 10 1,698,147 1,075,206 16 119,380 80,669 68,013 55,702 17 6,615 7,216 5,350 5,064 587 586 191 9 140,479 245,055 462 (5,848) 140,941 239,207 10 1,243,515 691,984 (i) 204,416 121,152 49,831 80,111 27(d) 200,385 181,959 1,698,147 1,075,206 11,716 8,200 114

10 (i) 11 1,416 1,348 14,819 8,232 213 201 16,448 9,781 (i) 66,647 76,182 83,095 85,963 (i) (a) (b) 13 12 2 2 15 14 115

11 (i) (ii) 3,500 50 3,550 36,989 40,539 2,760 57 2,817 8,335 11,152 (iii) 3,718 3,718 9,010 12,728 (iii) 2,400 57 2,457 4,973 7,430 1,459 37 1,496 4,016 5,512 (iv) 982 12 994 242 1,236 1,481 1,481 1,601 1,601 264 264 264 353 353 353 353 353 353 353 353 353 (iv) 93 93 93 1,416 14,819 213 16,448 66,647 83,095 (i) (ii) (iii) (iv) 116

11 (i) (ii) 2,700 44 2,744 56,158 58,902 2,470 52 2,522 11,829 14,351 955 35 990 2,319 3,309 1,279 35 1,314 2,095 3,409 828 35 863 1,089 1,952 1,269 1,269 1,423 1,423 354 354 354 268 268 268 357 357 357 357 357 357 12 12 12 1,348 8,232 201 9,781 76,182 85,963 (i) (ii) 117

12 3,483 52 4,378 7,913 3,000,0013,500,000 1 4,000,0014,500,000 1 2 13 135,451 260,031 31 26,256 (49,714) 1,686 163,393 210,317 25%15% 15% [2008] 1 10% 10% 118

13 10% 25%5% 6 8 3 4 [2008] 1 25% 25%25% 1,176,419 1,364,820 25%25% 294,105 341,205 (172,495) (143,092) (24,238) (9,376) (i) (15,259) (15,089) (1,319) (446) (ii) 29,876 34,308 45,241 (3,902) (3,553) 11,384 6,360 163,393 210,317 (i) (ii) 50% 119

14 888,261 20 15 1,013,026 1,154,503 5,040,685 5,052,130 20.10 22.85 (i) 22.81 25.61 1,013,026 1,154,503 5,040,685 5,052,130 38,942 4,218 5,079,627 5,056,348 19.94 22.83 (i) 22.63 25.58 (i) 0.88121.00000.89241.0000 120

16 14,437 12,446 93,596 38,513 158,992 1 4,781 4,781 14,437 12,446 98,377 38,513 163,773 10,010 23,323 107,879 170,700 311,912 (950) (394) (5,733) (7,077) (10,275) (8,432) (61,962) (80,669) (114) (88) (1,192) (1,394) 13,108 26,855 137,369 209,213 386,545 44,164 56,640 288,592 209,213 598,609 (31,056) (29,785) (151,223) (212,064) 13,108 26,855 137,369 209,213 386,545 13,108 26,850 126,804 209,213 375,975 1 5 10,565 10,570 13,108 26,855 137,369 209,213 386,545 18,160 37,876 157,089 266,174 479,299 1 32 1,129 2,599 38,637 42,365 (1,406) (1,614) (2,770) (5,790) 322,838 135,670 10,931 1,390 (470,829) (2,246) (16,493) (16,005) (84,636) (119,380) 45 13 25 83 320,592 150,213 60,655 247,104 4,558 783,122 322,838 168,625 97,038 470,839 4,558 1,063,898 (2,246) (18,412) (36,383) (223,735) (280,776) 320,592 150,213 60,655 247,104 4,558 783,122 4 782 9 121

17 1 13,831 13,831 13,831 13,831 (7,216) (7,216) 6,615 6,615 21,648 21,648 (15,033) (15,033) 6,615 6,615 1 6,615 6,615 6,615 6,615 1 32 202,631 56,255 40,969 68,282 368,137 (6,615) (6,615) 202,631 56,255 40,969 68,282 368,137 202,631 77,903 40,969 68,282 389,785 (21,648) (21,648) 202,631 56,255 40,969 68,282 368,137 122

18 152,272 42,748 1,565,157 1,565,157 1,717,429 1,607,905 1,530,401 1,574,748 (49,637) (34,232) 1,480,764 1,540,516 15 85% 15 100% 1 100% 1 5 100% 19 100% 1 100% 123

18 Alibaba.com (Europe) Limited 1 100% 3 902 100% Alibaba.com, Inc. 2 100% Alibaba.com Singapore 1 100% E-Commerce Private Limited Alibaba.com Singapore Investment Holding Private Limited 2 100% 1 85% 1 6 52 85% 1 100% 1 100% 124

19 31,719 48,195 (37,492) (16,087) (i) 6,980 2,595 (389) 3,802 31,719 (i) (ii) (iii) 10.0% 31.77% Alibaba.com Japan Co., Ltd. 12 2 1 84 31.77% 4 34 1 31.77% 2 5 31.77% 125

19 2,637 (110,012) (45,572) 44,752 94,739 (32,785) (9,275) 20 922,165 (850,000) 222 (1) 72,386 (50,000) 22,386 3(e) 70,222 2,164 72,386 70,222 2,164 72,386 126

21 37 4,234 (i) 27(a) 10,768 4,234 10,768 (i) 27(a) 944 87,138 122,865 76,766 26,987 39,857 17,350 5,295 (ii) 99,843 18,459 309,028 186,476 313,262 197,244 (i) (ii) 5.67%5.67% 7 2 55 7 5 87 7 101 631 22 30 127

23 359,366 341,027 2,389,324 2,347,924 2,748,690 2,688,951 4,467,755 3,923,373 7,216,445 6,612,324 120 24,816 95.5%75.2% 2.1%4.2% 128

24 0.0001 8,000,000,000 800,000 770 5,052,356,500 505,236 486 (a) (3,000,000) (300) 5,049,356,500 504,936 486 5,049,356,500 504,936 486 1,345,040 134 (b) (11,000,000) (1,100) (1) 5,039,701,540 503,970 485 (a) 3,000,000 1 47 11 2 40 13 1,000,000 4.35 4.23 4,315 3,800 2,000,000 5.45 4.40 9,756 8,601 3,000,000 14,071 12,401 (b) 11,000,000 7 9 20 46 9 80 41 1 1,000,000 5.50 5.47 5,519 4,867 10,000,000 7.50 6.94 73,685 64,937 11,000,000 79,204 69,804 129

25 (a) (b) (i)(ii) 10%50% 26 486 2,809,905 298,029 3,108,420 24,485 24,485 24,485 24,485 24(a) (12,401) (12,401) 45,440 45,440 486 2,842,944 322,514 3,165,944 486 2,842,944 322,514 3,165,944 870,390 870,390 870,390 870,390 24(b) (1) (69,803) 1 (1) (69,804) 55 55 (888,261) (888,261) 112,612 112,612 485 2,885,808 1 304,642 3,190,936 8 7392 4 48 5 130

27 425% 6 10 135,100,000 2.68%2.68% 425%6 (a) (i) (ii) (i) (ii) 1.2882 48,839 1.1716 53,253 4.4376 541 3.8531 1,712 (iii) 1.5112 3,729 1.5526 2,097 1.0084 (27,363) 0.8195 (1,870) (iii) 1.3964 (2,971) 0.9067 (4,192) 2.0341 (761) 1.8503 (2,161) 1.7108 22,014 1.2882 48,839 1.1889 13,408 0.9178 31,491 (i) (ii) (iii) 131

27 (a) (ii) (ii) (i) 0.0500 0.0750 1,375 2.7 1,773 4.4 0.1250 0.2030 708 4.4 3,422 5.4 0.3125 0.5625 2,031 1.0 9,012 2.0 0.8750 1.2500 4,525 2.2 12,448 3.2 1.6250 1.8500 5,960 2.9 13,066 3.9 2.0000 2.4700 4,338 3.4 6,710 4.5 2.6500 3.6500 1,104 4.1 1,114 5.4 4.0600 4.7500 1,973 4.6 1,294 5.2 22,014 2.9 48,839 3.6 (i) (ii) 132

27 (a) 1.51% to 2.32% 1.32% to 3.27% 0% 0% 4.25 4.38 4.25 4.38 (i) 52.1% 52.7% 50.8% 51.5% 1.9445 1.5981 (i) (i) (ii) (i) (ii) 2.10 2,291 2.01 3,110 3.20 265 4.22 94 3.00 56 2.00 17 2.10 (677) 2.01 (727) 2.24 (108) 2.00 (130) 2.04 (139) 2.00 (73) 2.30 1,688 2.10 2,291 (i) (ii) 133

27 (a) 4,900 20% 50% 5% 15% 10,146,866 730,138 18,464,691 0.37% (i) (ii) (ii) 94 4176 8 21 134

27 (b) (i) (ii) (i) (ii) 6.80 68,127 6.80 69,070 6.80 40 6.80 285 6.80 (580) 6.80 (2,170) 6.80 (408) 6.80 (141) 6.80 (820) 6.80 65,276 6.80 68,127 6.80 32,403 6.80 17,037 (i) (ii) 3.7 4.7 135

27 (b) (i) (ii) 7.25 952 7.25 247 7.25 (11) 7.25 (13) 7.25 1,175 (i) (ii) 136

27 (c) (i) (ii) (i) (ii) 11.95 14,808 8.82 30,881 12.24 15,478 5.54 (11) 11.05 (2,727) 18.69 (670) 9.76 42,951 11.95 14,808 15.63 1,818 5.54 74 (i) (ii). (ii) (ii) (i) 5.54 6,207 5.0 7,007 6.0 5.71 3,497 5.1 7.25 22,041 5.3 12.74 1,990 4.5 2,360 5.5 17.62 2,290 6.0 19.86 4,824 4.1 5,441 5.1 20.60 2,102 5.7 42,951 5.1 14,808 5.6 (i) (ii) 137

27 (c) 1.17% 1.66% 1.20% 3.50% 0% 0% 4.25 4.38 4.25 4.38 (i) 51.8% 52.7% 45.9% 51.0% 3.77 4.37 (i) Weighted (i) (ii) (i) (ii) 16.87 4,064 9.84 19,103 16.92 4,276 18.39 (1,334) 9.88 (1,941) 17.75 (212) 10.70 19,892 16.87 4,064 (i) (ii) 138

27 (d) 28 15,874 10,015 55,667 58,253 32,805 19,987 96,039 93,704 200,385 181,959 8 37 8 0 30 23,794 11,691 3160 1,785 6190 753 90 113 1,347 23,907 15,576 29 14.67%1 67,602 314,961 218,976 200,547 96,605 134,278 77,151 85%32 43,530 92,261 36,381 785,577 429,113 853,179 429,113 139

29 6,007 5,401 30 878,077 473,640 2,558,898 1,820,757 3,436,975 2,294,397 (3,232,690) (2,176,120) 204,285 118,277 31 12 13,534 25,487 12 59,631 345,192 73,165 370,679 12 (67,224) (1,615) 12 (2,417) (59,039) (69,641) (60,654) 3,524 310,025 140

31 310,025 260,311 13 (26,256) 49,714 (i) (256,766) 1 12,021 1 (35,500) 3,524 310,025 (i) 2008 875 1 82009 11 3 (i) 278,620 7,157 19,845 305,622 39,725 2,685 22,647 65,057 318,345 9,842 42,492 370,679 (496) 8,381 7,885 (318,345) 925 (317,420) 1 10,786 233 1,002 12,021 10,786 9,579 52,800 73,165 (i) (45,311) (45,311) (15,343) (15,343) (60,654) (60,654) 60,654 60,654 (34,141) (34,141) 1 (35,500) (35,500) (34,141) (35,500) (69,641) 141

31 15%15% 2 470 4 1 8 2 7444 83 5 82 7 9 2 28 914 18 42 37 22 64 6 32 4 3 5 29 885% 16 42,365 17 56,255 17 40,969 17 68,282 14,283 6,592 41,927 170,404 (123,757) (20,115) 12,021 (35,500) 273,726 (41,059) 232,667 17 202,631 85% 435,298 (391,768) 29 43,530 391,768 (170,404) 221,364 1 6 5 50 6 142

33 34 (a) 32,257 2,825 20,586 120,788 52,843 123,613 (b) 43,308 32,182 23,520 16,703 66,828 48,885 (c) 4,124 3,551 143

35 (a) i (73,486) (57,083) ii (2,000) (2,000) iii (8,531) (3,819) (12,806) (9,325) (21,337) (13,144) iv 2,697 56,182 v 8,303 vi 11,434 11,840 vii 14,764 5,041 144

35 (b) viii (2,550) (3,509) ix (2,579) (820) x 2,862 4,504 xi 15,200 (i) (ii) (iii) (iv) (v) (vi) (vii) (viii) (ix) (x) (xi) 2 15 % 2 20 145

35 (c) 10,917 27,008 12,678 37,925 12,678 1,676 10,790 16,797 92,780 1,742 4,391 20,215 107,961 18 1,565,157 1,565,157 18 1,530,401 1,574,748 3,095,558 3,139,905 205 (1,676) (2,523) 18 (49,637) (34,232) (d) 11 146

36 3,001,194 26,102 (23,169) (i) 3,004,127 1,415,503 (40,445) (10,238) (i) 1,364,820 (210,317) (210,317) 1,205,186 (40,445) (10,238) 1,154,503 772,277 17,185 1,475 (ii) 790,937 7,120,653 21,525 (22,284) (ii) 7,119,894 7,892,930 38,710 (20,809) 7,910,831 486 486 4,967,923 (40,539) (20,809) (ii) 4,906,575 4,968,409 (40,539) (20,809) 4,907,061 106,340 11,937 118,277 2,818,181 67,312 2,885,493 2,924,521 79,249 3,003,770 7,892,930 38,710 (20,809) 7,910,831 (i) (ii) 37 1 5 147

359,435 738,297 1,363,862 2,153,310 3,004,127 3,874,728 296,866 611,788 1,126,237 1,867,238 2,603,476 3,340,290 25,037 97,572 268,496 765,861 1,141,700 1,072,970 28,468 103,419 291,388 1,110,960 1,364,820 1,176,419 73,861 70,454 219,938 929,311 1,154,503 1,013,026 11,415 48,891 113,904 156,194 181,959 200,385 888,261 19.60 25.61 22.81 19.60 25.58 22.63 38,126 84,992 113,304 163,773 386,545 783,122 202,631 441,705 1,035,335 1,488,804 5,273,552 6,612,324 7,288,831 (388,652) (784,713) (1,253,964) (1,935,673) (2,294,397) (3,436,975) 28,617 (133,833) (202,576) 97,620 202,589 180,540 119,796 201,781 145,568 3,599,272 4,907,061 5,018,149 486 486 485 119,796 201,781 145,568 3,598,786 4,906,575 4,976,605 119,796 201,781 145,568 3,599,272 4,907,061 4,977,090 41,059 119,796 201,781 145,568 3,599,272 4,907,061 5,018,149 34,014 18,453 (147,453) 3,169,645 4,234,401 4,045,829 133,842 237,290 182,714 3,674,484 5,025,338 5,359,677 148