2015中期報告 第一視頻集團有限公司 (於百慕達註冊成立之有限公司) 股份代號: 82

2 3 4 6 7 8 26 36 39 43 2015 1

MUFG Fund Services (Bermuda) Limited The Belvedere Building 69 Pitts Bay Road, Pembroke HM08 Bermuda 183 22 Canon s Court 22 Victoria Street, Hamilton HM12 Bermuda 8 116-18 100102 11 30 3006 http://www.v1.cn, http://ir.v1group.com.hk info@vodone.com.hk, ir@v1.cn 00082 2 2015

5 1,012,751 748,034 (481,948) (314,428) 530,803 433,606 6 5,444 13,920 (301,070) (163,662) (267,084) (281,355) 604 8 260 7 (31,295) 2,769 8 (12,622) (2,743) (43,917) 26 5,734 (16,215) 36,299 (28,942) 42,033 (45,157) (1,884) (45,131) (93,098) (63,259) 49,181 63,285 (43,917) 26 (57,201) (114,630) 55,317 69,499 (1,884) (45,131) 9 (2.82) (1.92) 9 (2.82) (1.92) 2015 3

10 47,478 57,421 11 51,994 51,436 12 2,947 2,329 13 947,937 942,857 1,310,982 1,321,501 15 213,528 179,597 2,574,866 2,555,141 14 985,274 713,121 563,828 535,867 2,907 1,013 15 8,589 30,183 21(d) 170,166 90,076 21(c) 34 34 550,668 602,725 2,281,466 1,973,019 16 421,764 254,892 173,357 172,959 6,346 550 40,223 5,895 71,494 22,619 45,837 7,773 759,021 464,688 1,522,445 1,508,331 4,097,311 4,063,472 44,850 45,999 4,052,461 4,017,473 4 2015

17 32,979 32,979 3,110,850 3,144,231 3,143,829 3,177,210 908,632 840,263 4,052,461 4,017,473 2015 5

32,651 1,457,197 614,296 31,641 6,242 269,498 439,547 386,822 3,237,894 (63,259) 63,285 26 (16,215) (35,156) 6,214 (45,157) (16,215) (35,156) (63,259) 69,499 (45,131) 216 22,464 22,680 112 8,641 883 (2,074) 7,562 9,776 7,595 17,371 283,124 421,031 704,155 32,979 1,488,302 898,303 39,343 (9,973) 234,342 376,288 884,947 3,944,531 32,979 1,488,282 1,060,812 59,273 (9,454) 230,987 314,331 840,263 4,017,473 (93,098) 49,181 (43,917) 5,734 30,163 6,136 42,033 5,734 30,163 (93,098) 55,317 (1,884) (19,428) (19,428) 23,809 31,520 55,329 11 960 971 32,979 1,488,282 1,060,823 83,082 (3,720) 261,150 221,233 908,632 4,052,461 6 2015

583 (59,077) (54,562) (338,983) 593,605 (53,979) 195,545 1,922 (5,733) 602,725 616,137 550,668 805,949 2015 7

1. Canon s Court, 22 Victoria Street, Hamilton HM12, Bermuda 11 30 3006 2. 34 8 2015

3. 19 1 1 1 16 1 38 16 1 41 27 1 9 3 10 28 1 10 1 12 28 11 1 14 1 15 2 9 7 1 2 3 9 3 2015 9

4. (A) 57,162 14,137 29,164 102,503 926,425 631,394 1,012,751 748,034 (86,767) (91,896) (17,134) 24,916 93,422 116,859 (10,479) 49,879 16 182 337 4,697 5,077 5,050 5,259 (21,465) (22,227) (15,017) (16,982) (34,459) (36,103) (70,941) (75,312) 1,129,282 819,574 716,974 1,071,780 2,896,168 2,531,135 4,742,424 4,422,489 171 5,683 79,588 294,752 79,759 300,435 70,260 6,457 52,781 45,634 676,936 455,213 799,977 507,304 10 2015

4. (B) (10,479) 49,879 2,112 504 8 260 604 (20,252) (32,328) (2,690) (3,288) (12,856) (31,295) 2,769 4,742,424 4,422,489 8,589 30,183 51,994 51,436 2,947 2,329 50,378 21,723 4,856,332 4,528,160 799,977 507,304 3,894 3,383 803,871 510,687 2015 11

4. (C) 90% 90% (D) 5. 21(a) 7% 10% 45,572,0009,049,000 29,164,000102,503,000 57,162 14,137 29,164 102,503 926,425 631,394 1,012,751 748,034 12 2015

6. 5,050 5,259 2,828 1,742 1,194 1,116 1,906 (2,464) 2,733 5,444 13,920 7. 10,688 6,369 60,261 68,988 10,791 80 65 122,312 93,933 24,629 19,025 49,974 16,672 196,915 129,630 2015 13

8. 13,702 5,133 69 (1,149) (2,390) 12,622 2,743 16.5% 16.5% 25% TMD2 15% 50% 50% 50% 50% 14 2015

9. (2.82) (1.92) (2.82) (1.92) (93,098) (63,259) 3,297,925,262 3,292,309,262 2015 15

10. 12,167,00011,927,000 11. (16,144) (16,337) 68,138 67,773 51,994 51,436 TMD1 49% 49% 25% 16 2015

11. 164,855 113,920 (201,981) (151,017) (37,126) (37,097) 43,259 42,842 75,112 166,435 170 604 84 296 2015 17

12. 2,947 2,329 50% 1,382 1,208 604 18 2015

13. 993,169 (14,727) 978,442 5,271 983,713 36,120 (535) 35,585 191 35,776 947,937 942,857 2015 19

14. 206,771 234,763 516,776 260,587 168,753 160,515 92,189 56,406 785 850 985,274 713,121 30180 15. 3GUU (a) 8,589 30,183 (b) 162,680 162,045 (c) 50,848 17,552 213,528 179,597 20 2015

15. (a) (b) 3GUU 3GUU 3GUU 4% InPlay Interactive Co., LimitedInPlay 12.994% MAS Technology Company LimitedMAS 10% 10% Beijing Superflash Software Co., LtdSuperflash 4.76% (c) 61,500,000 77,631,00030,000,000 37,869,000 101,500,000 128,813,65050,000,000 63,455,000 Fontaine Capital Fund, L.P.Fontaine 40,000,000310,100,000 3,000,000 23,257,500 Fontaine Fontaine 2015 21

16. 30 136,682 208,842 111,090 32,021 160,470 13,168 13,522 861 421,764 254,892 17. 50,000,000,000 0.01 500,000 500,000 3,297,925,262 3,297,925,2620.01 32,979 32,979 22 2015

17. 3,286,693,262 32,867 11,232,000 112 3,297,925,262 32,979 3,297,925,262 32,979 3,297,925,262 32,979 18. 22,368 18,406 46,402 51,220 86,785 103,452 133,187 154,672 2015 23

19. 9,680 29,033 32,991 18,935 20. 24 2015

21. (a) TMD1 74,736 111,552 TMD1 64,509 82,771 (b) 6,620 5,382 5,355 699 11,975 6,081 (c) (d) (a) 22. 297,964,000 23. 2015 25

1,012,751,000 35.4%93,098,00047% PGC (www.v1.cn) P G C Professionally Generated Content 500PGC Youtube PGC PGC 500 PGC 500 PGC 150 Big PGC PGCV1 3 90 26 2015

80 90 PGC 315 18513 50 12 1020 87 1,189 2015 27

V1 V1 FM V1 APP V1 PGC PGC PGC 500 100 7,000 300HTML5PGC 28 2015

PGC 500 PGC PGC PGC PGC PGCPGC V1 (http://g.v1.cn) V1 60 50% 10% 300V1 2015 29

V150 V150 V1 HTML5 V1 HTML5 4 HTML5PC HTML5 V1 1,000 10% V1 HTML5 V1 HTML5HTML5 V1 PGC 30 2015

V1 APP V1 200 (www.zgzcw.com) (www.diyicai.com) 2015 31

HTML5 360 70 200 500 32 2015

3D 5 KAKAO Talk App Store Google Play MMORPG IP 3D 2853D IP Pegasus Investment Holdings Limited Pegasus Merger Sub Limited AB AB 1.5714 1.5714 22.00 2015 33

57,162 14,137 29,164 102,503 926,425 631,394 1,012,751 748,034 (86,767) (91,896) (17,134) 24,916 93,422 116,859 (10,479) 49,879 57,162,000 14,137,000 86,767,000 91,896,000 29,164,000 71.5% 17,134,000 24,916,000 34 2015

926,425,000 46.7%93,422,000116,859,000 550,668,000 602,725,0001,522,445,000 1,508,331,000 3.04.2 4,856,332,000 4,528,160,0003,143,829,000 3,177,210,000 803,871,000 510,687,000 908,632,000 840,263,000 1,400 2015 35

XV 352 (A) 371,214,113 1 11.26% 7,200,000 2 0.22% 371,214,113 3 11.26% 7,200,000 4 0.22% 800,000 0.02% 1,400,000 0.04% 300,000 0.01% 1 371,214,113 355,264,113 15,950,000 2 7,200,000 3,600,000 3,600,000 3 371,214,11315,950,000 355,264,113 4 7,200,000 3,600,000 3,600,000 36 2015

(B) 10,274,274 1 2.33% 4,695,694 2 1.06% 4,515,000 3 1.02% 10,274,274 4 2.33% 4,695,694 5 1.06% 4,515,000 6 1.02% 1 10,274,274Big Step Group Limited6,977,614Big Step Group Limited 2 4,695,6943,175,947 1,519,747 3 322,500 14 A 322,500136,500 20.23136,500 186,00015.76186,000 4 5 4,695,6941,519,747 3,175,947 6 2015 37

(B) 186,000 15.76 46,500 11,625 XV 352 XV23 336 38 2015

1,500,000 1,500,000 0.604 09/09/2013 08/09/2016 2,100,000 2,100,000 0.750 17/04/2014 16/04/2017 3,600,000 3,600,000 1,500,000 1,500,000 0.604 09/09/2013 08/09/2016 2,100,000 2,100,000 0.750 17/04/2014 16/04/2017 3,600,000 3,600,000 7,200,000 7,200,000 2015 39

400,000 400,000 0.604 09/09/2013 08/09/2016 400,000 400,000 0.750 17/04/2014 16/04/2017 800,000 800,000 300,000 300,000 0.750 17/04/2014 16/04/2017 300,000 300,000 1,100,000 1,100,000 1,700,000 1,700,000 0.700 13/09/2012 12/09/2015 800,000 800,000 0.604 09/09/2013 08/09/2016 15,100,000 15,100,000 0.750 17/04/2014 16/04/2017 17,600,000 17,600,000 25,900,000 25,900,000 40 2015

10% 10% 1 1 1,519,747 1,519,747 0.605 06/02/2012 05/02/2017 1,656,200 1,656,200 6.500 08/02/2013 2 07/02/2018 3,175,947 3,175,947 1 1,519,747 1,519,747 0.605 06/02/2012 05/02/2017 4,695,694 4,695,694 1 1 3 4 6 8 10 14,359,172 (47,488) (38,052) 14,273,632 0.605 06/02/2012 05/02/2017 11,574,304 (627,004) (420,000) 10,527,300 6.500 08/02/2013 2 07/02/2018 2,722,415 (711,410) 2,011,005 0.605 08/02/2013 07/02/2018 5,851,482 (5,851,482) 29.03 13/01/2014 5 12/01/2019 1,462,860 1,462,860 20.23 08/10/2014 7 07/10/2019 9,660,000 (280,000) 9,380,000 15.76 12/02/2015 9 11/02/2020 4,388,622 4,388,622 20.23 07/06/2015 7 06/06/2020 35,970,233 14,048,622 (674,492) (738,052) (6,562,892) 42,043,419 40,665,927 14,048,622 (674,492) (738,052) (6,562,892) 46,739,113 2015 41

1 25% 1275% 2 6.5 14 0.001 AA 3 25% 50,815 711,410 A 4 417,963 5,851,482 A 5 29.0314 A 6 25% 1275% 7 20.2314 A 8 25% 1275% 9 15.7614 A 10 25% 1275% 690,000 690,000 9,660,000 A 15.76 15.50 313,473 313,473 4,388,622 A 20.23 19.90 19.32 42 2015

A.2.1 A.6.7 13.51B(1) 13.51B(1) 2015 43

17 44 2015