Forgame Holdings Limited (a) (b) (c) (d) (e) (f) (g) (h) (i) (j) (k) 1933 (l) 32
24% 30 91wan791.79 55415 91wan350 360YY4399 AndroidiOS OL 14 56 1212beta 91wan 91wan 7.5 5.23.62.7 91wan 91wan2059 1
91wanbeta 91wan91wan 95.1 7.766185.8% 49.75.407229.8% 45.42.359 128.0%3.471 65.3%5.737 2.31663.9% 3.795 1.15668.1% 1.94340.4 1.536 2
1 91wan CNNIC 58.5%3.45 2 13%83% 85.2% 21.8% 3
(1) (3) (2) (1) (i)(ii) (2) (i)(91wan)(ii) (3) (i)(ii) (iii) (iv) 3 57.4%15 70% 32.6% 46.2% 1917875.5% 4
ICP 50% 5
(1) (2) (3) 100% 1. 2. 3. 4. 5. 6. ----------> [] [] []AA 68,800,00058,800,000Foga NetworksA Longling Capital Ltd Baolink Capital Ltd10,000,000 ATAQimingIgnition 20.10%5.79%1.77%A [][][]24,000,000 Foga HoldingsFoga NetworksFoga Development 6.3%[] 6
[] [] [] [] 32360 6,303,497 [] [] 11,290,494 7
........................ 95,078 384,009 776,649 347,122 573,748.................. 49,701 252,016 540,749 231,564 379,482.................. 45,377 131,993 235,900 115,558 194,266........................ 40,377 315,179 697,561 316,149 509,631........... (40,410) 40,513 283,591 151,672 163,602..... (40,384) 17,849 217,617 122,236 (243,347) (1)............... (40,384) 114,938 240,031 125,881 153,588 (1) 3.694 30............................... 74,026 192,606 417,165 535,072............................... 122,089 149,985 199,402 191,692............................... 108,120 254,817 522,029 667,997............................... 127,652 159,347 658,692 1,010,086 8
.................................. 64 49 49.................................. 25,888 125,930 (228,351) (190,430)................. (45,420) (30,524) 91,639 (151,708)..................... (19,532) 95,470 (136,663) (342,089) 1.367 3.421(i)2.2841.904 3.719A[] (ii) 18.83.882 2430............. (38,606) 144,290 298,722 156,840 203,545............... 65,907 (19,379) 45,423 52,820 (34,029).................. (510) (24,261) (44,516) (26,224) (38,617)....... 26,791 100,650 299,629 183,436 130,899....... (16,908) (28,112) (51,972) (7,820) (154,362)............. (20,896) 351,008 (1,550)......... 9,883 72,538 226,761 526,624 (25,013)............... 3,572 13,455 85,993 85,993 312,639.................. (115) (211)............... 13,455 85,993 312,639 612,617 287,415 9
.................... 303.9% 102.2% 65.3%............... 144.2% 1,119.2% (1) (2)..................... 42.5% 82.1% 89.8% 91.1% 88.8% (3)................ (42.5%) 10.6% 36.5% 43.7% 28.5% EBITDA (4)............. (40.6%) 12.2% 35.4% 44.0% (34.0%) EBITDA (5)....... (40.6%) 37.5% 38.3% 45.0% 35.1% (6).................. (42.5%) 4.6% 28.0% 35.2% (42.4%) (7)............ (42.5%) 29.9% 30.9% 36.3% 26.8% (1) 2.433 1.222 (2) (3) (4) EBITDAEBITDAEBITDA (5) EBITDAEBITDA (6) (7) 91wan 10
2(i)MPU(ii) ARPPUMPU ARPPU MPUMPU 91wanARPPU91wan MPU MPU (1).......... 69 240 518 382 758 ARPPU............. 60 88 87 101 83........... 47,395 88,163 141,147 117,028 179,088 MPU (1).......... 30 40 71 67 115 ARPPU............. 125 274 278 289 282 (1) 91wan MPUARPPU []A 30[]A 11 90.5 11
12
Alpaca Alpaca Capital Limited Zhiming Zhu Appionics Appionics Holdings Limited Appionics = 1/ 1 CNNIC 32 Forgame Holdings LimitedFoga Holdings Limited) 13
A Wang TrustKeith Huang TrustHao Dong Trust ZHUANGJG Trust 23.75%41.10%24.70%0.95%9.50% Foga Development Foga Development Co. Ltd. Managecorp Limited Managecorp LimitedZHUANGJG Trust Foga Group Foga Group Ltd. Managecorp Limited Managecorp LimitedWang Trust 14
Foga Holdings Foga Holdings Ltd. Managecorp Limited Managecorp LimitedHao Dong Trust Foga Internet Development Foga Internet Development Ltd. Foga Networks Foga Networks Development Ltd. Managecorp LimitedManagecorp LimitedKeith Huang Trust FogaTech Foga Tech Limited Hao Dong Trust Managecorp Limited 15
ICP Ignition Ignition Growth Capital I, L.P.Ignition Capital Partners I, L.P. Ignition Growth Capital Managing Directors Fund I, LLC Ignition Capital Managing Directors Fund I, LLC A Ignition Growth Capital I, L.P.43 Ignition Growth Capital I, L.P.10% Ignition Growth Capital Managing Directors Fund I, LLC18 Ignition Growth Capital Managing Directors Fund I, LLC10% 20.94%12.37%17.13%0.95%48.61% Keith Huang Trust Managecorp Limited 16
[] Managecorp Limited Managecorp Limited Keith Huang Trust 1Hao Dong Trust 1Wang Trust 1 1ZHUANGJG Trust 0.0001 17
Pineapple Pineapple Grove Limited Tom HwangNancy Tsai 50.10%49.90%2 [] [] [] [] [] A [] TAQimingIgnition A [] Pineapple Alpaca Prometheus[] [] [] [] [] [] [] A Wong Po TsanWang Baoshan 18
Prometheus Prometheus Capital (International) Co, Ltd Wang Sicong Qiming Qiming Venture Partners III, L.P. Qiming Managing Directors Fund III, L.P. AQiming Venture Partners III, L.P. 56Qiming Venture Partners III, L.P.10% Qiming Managing Directors Fund, III, L.P. 29Qiming Managing Directors Fund, III, L.P.10% A [] [] PineappleAlpacaPrometheus 19
A TAQimingIgnition A A AA [] A AA 0.0001A A[] Foga TechA [] A [] Bainan Shou 2 TA TA FG Acquisitions A TA XI, L.P.TA68.20% 20
Wang Trust Managecorp Limited 23.75%41.10%24.70%0.95%9.50% ZHUANGJG Trust Managecorp Limited 91wan 91wan.com2918.com9vs. com915.com336.com % (a) (b) (c) 21
ARPPU MAUS 1 11 22 MPUS 1 22
291wan 1 1 11 flash 23
24
25
(i) (ii)(iii) (iv) 91wan iresearch1224 26
91wan 91wan beta1 91wan 91wan Animoca Appionics 27
28 5 79%66%52%52%
KingNetGiant Kingsoft GamevilCom2uSGlu Mobile) 1 29
30
ARPPU 91wan350 46%61%66%62% 20%26%30%33%37%39%44% 49%5 15,000 31
91wan QQ 32
33
1 forgame.com91wan.com forgame.com91wan.com 91wan2059 34
91wan CentosNginxMySQLMongoDB) 2-2. (a)3 302518164302518173 302518182 33 35
20 36
91wan Animoca Appionics Appionics 37
10%50% Foga Tech10% 38
5% 601601 Foga TechFoga Tech Foga Tech 142142 142 142[] [] 39
4 Foga GroupFoga NetworksFoga HoldingsFoga Development 71.39%)Managecorp Limited Wang TrustKeith Huang TrustHao Dong TrustZHUANGJG Trust Managecorp LimitedManagecorp Limited Managecorp Limited Managecorp Limited Managecorp Limited 40
Managecorp Limited 1.367 3.421(i)2.2841.904 3.719A[] (ii) 18.83.882[] [] A[][] A[] A [] 2430 50% 41
2011 4 (i) (ii) (iii) 42
43
[2009]2 44
[] 3% 12.5% 15% 25% 91wan 45
46
20,000 47
(i) (ii) (iii)(iv) 14 (i) (ii) (iii) (iv) (i) (ii)3 48
8 3355 20% 614 49
9 1 10,00030,000 1 50
1 20 51
3 25 0.250.31 25% 25% 82 82 (i)(ii) (iii) (iv) 82 82 52
25% 698 (i)12.5%(ii) 10% 698 201124 2469824 24 698 698 698 698698 53
25% 12.5% 25% 10% 10% 20%20% 5% 6% 54
75 75 10320% 6.8316.1202 1 0.50.6 55
8.0 H1N1 56
68 6403 581 2407 23 1102 1 804 109 17A The Beacon 260 King Street Unit 1407 San Francisco, CA 94107 USA 57
LEVIN Eric Joshua 2112 2802 41A F6F-1 12 116D 333 B701 200030 58
P.O. Box 613 4/F Harbour Centre George Town Grand Cayman KY1-1107 Cayman Islands 490 37 38 15 8 www.forgame.com LEVIN Eric Joshua LEVIN Eric Joshua 67 625 26 59
(CNNIC) 230,000 CNNIC CNNICCNNIC32 (i)(cati) (ii) (iii)cnnic iadtrackeriusertracker (i)(ii) (iii)(iv) (i)(ii) 60
CNNIC 1.375.9125.2% 2.47 CNNIC 10.5%44.1% 78.7% itunes) DVD CDCD CNNIC 3.4558.5% CNNIC3.312.88 583 1,05015.8% 96% 10. 12.6 21.0 28.2 36.5 47.6 58.3......... 66.4% 34.0% 29.5% 30.4% 22.5%......... 0.1 0.7 1.8 3.4 5.3 7.6......... 364.3% 169.2% 96.8% 53.7% 44.4%....... 12.5 20.3 26.2 32.4 41.0 48.5......... 62.2% 29.0% 23.9% 26.3% 18.5% 83% 61
2GB4GB 13.4%15.8% 13% 85.2% 21.8% 1 GB 11flash 23612 62
flash 612 23 63
- - - - - 3773 57.4% 1570% 64
23.7% Forgame 24.0% 9.1% 22.9% 9.8% 10.5% 28.3% 15% 439936037wan70.7% iosandroid 32.6% 46.2% 65
19 17875.5% 10 10............ 0.1 0.3 0.8 1.9................................. 163.6% 179.3% 132.1% Android iosandroid AppStoreiOS37Android (i)rovio EntertainmentSupercell(ii) GamevilGameloftGungho(iii) 3091360UCDeNA 66
67
50% ICP 68
2011 (ICP ICP 69
30 [] [] 70
(i) (ii)pk(iii) (iv) 2008 3 71
2010 2001 1010 2010 72
90 30 73
75 75 59 75 25% 10% 15% [2008]172 74
[2012]27 25% 2011 17% 6% (i) 11 1 75
(ii) (iii) (iv) (v) (vi)2,000 (vii) 50%100% 76
5 191wan 100% 1 91wan10 91wan10 Foga Tech 91wan Foga Tech 91wan100,000,000 II 77
OL A QQ 91wan10 1 II [] AppionicsAnimoca 30 91wan79 1.79 50%10,000,000 10,000,000 11% 51% 78
49% 149% 1 58.9% 12,723,00030 23.75%41.10%24.70%0.95% 9.50% 23.75%41.10%24.70% 0.95%9.50% 90%10% 90%10% 100%10,000,000 7,831,000 202 23.75%41.10% 24.70%0.95%9.50%1 100% 23.75%41.10%24.70%0.95%9.50% 79
[] 23.75%41.10%24.70%0.95%9.50% 28.73%2,873,000 7.57%757,000 2.81%281,000 20.94%12.37% 17.13%0.95%48.61% 1. 100%Foga GroupFoga Networks Foga HoldingsFoga Internet DevelopmentFoga Development)2,373 4,1102,4709595023.75%41.10%24.70%0.95% 9.50% 2. Foga Tech Foga Tech100% Foga Tech Foga Tech100% 80
3. Foga Tech 4. Foga Tech100% 5. Foga NetworksLongling Capital Ltd Baolink Capital Ltd A Wang Baoshan1A Wang Baoshan AWang Po TsanWang Baoshan A 24% Foga NetworksLongling Capital Ltd Baolink Capital LtdA1,600800 16%8%24%1.00 Longling Capital LtdBaolink Capital Ltd 1,600800Foga Networks1.00Foga NetworksLongling Capital LtdBaolink Capital Ltd 6. A AA A68,800,000[] A 11.001,0000.001 81
11.00A1,0000.001A 50,00047,094,0560.001 2,905,9440.001A7,600 7,600,0000.001 A2,905,944A 68,800,000[]A 7. Longling Capital LtdBaolink Capital LtdFoga Networks AA A58,800,0002,400 2,400,000Foga NetworksLongling Capital LtdBaolink Capital Ltd24%A 8. 1,2505 A Foga Development Foga Internet Development950,000 2,200,00095,000100,000 82
A Foga Group 2,375 A 31.25% 2,375,000 22.50% 1,710,000 Foga Networks 1,710 (1) Foga Holdings 2,470 32.50% 2,470,000 Foga Development 950 12.50% 950,000 2,375,000 1,710,000 2,470,000 950,000 Foga Internet Development 95 1.25% 95,000 95,000 TA +2,111,695 2,111,695 A A Qiming Venture +589,707 589,707 Partners III, L.P. A A Qiming Managing +18,587 18,587 Directors Fund III, L.P. A A Ignition Growth +184,025 184,025 Capital I, L.P. A A Ignition Growth Capital +1,930 1,930 Managing Directors A A Fund I, LLC 7,600 100% 7,600,000 +2,905,944 A 7,600,000 2,905,944 A -170,000 2,200,000-5,000-410,000 1,300,000-670,000 1,800,000 +170,000 2,200,000 +670,000 +410,000 +5,000 100,000 2,111,695 A 589,707 A 18,587 A 184,025 A 1,930 A 7,600,000 2,905,944 A 20.94% 12.37% 17.13% 20.94% 0.95% 20.10% 5.61% 0.18% 1.75% 0.02% 100% 83
1. Foga Networks1,710Longling Capital Ltd Baolink Capital Ltd Foga Networks1,600 800 9. 10.001 100.000110.001A 100.0001A 50,000470,940,5600.000129,059,440 0.0001A Foga Group............................... 22,000,000 20.94% Foga Networks............................ 13,000,000 12.37% Foga Holdings............................. 18,000,000 17.13% Foga Development......................... 22,000,000 20.94% Foga Internet Development.................. 1,000,000 0.95% TA...................................... 21,116,950A 20.10% Qiming Venture Partners III, L.P............. 5,897,070A 5.61% Qiming Managing Directors Fund III, L.P..... 185,870A 0.18% Ignition Growth Capital I, L.P............... 1,840,250A 1.75% Ignition Growth Capital Managing Directors Fund I, LLC............................ 19,300A 0.02% 76,000,000 29,059,440A 100% 10. [] [] [] [] 11. Managecorp Limited Managecorp Limited100% 84
Managecorp Limited 12. [][] Pineapple AlpacaPrometheus Foga HoldingsFoga NetworksFoga Development1.05%3.15%1.05% 1.05%4,000,000 12,000,0004,000,0004,000,000 PineappleAlpacaPrometheus[] 75 [] [][]A [][] A[] A[] AA AA 2,905,944A68,800,000 AA ATAQiming Ignition 20.10%5.79% 1.77%A A 85
A[] A[] A AA TA FG Acquisitions Qiming Venture Partners III, L.P. Qiming Managing Directors Fund III, L.P. Ignition Growth Capital I, L.P. Ignition Growth Capital Managing Directors Fund I, LLC 68,800,000 23.676 AA 58,800,000A 10,000,000 A A[] A[] (180) A A [] A F-3 86
A A A A A TA Qiming A AA A A A 87
A A5% A A100% A A A A A A A 150% A []A A [] AA A A11 88
A A A A A(i)[] (ii) A A 10 A []A A A NCP = OCP x (OS + (NP/OCP) (OS +NS) NCP = A OCP = A OS = 89
NP = NS = (1) (NP/OCP) (2) (OS+(NP/NCP)(i) (ii)(1) (3) (OS+NS)(i) (ii) A(2)(3) A []A 20% A 20% A [] TAQimingIgnition TA AssociatesTA Associates TA 90
Associates3TA3TA XI, L.P.TA 68.20%TA31.80%TATA Associates TA Associates Qiming Venture Partners Qiming85 10%Qiming IgnitionIgnition 6110% Ignition A [][] Pineapple [] Foga HoldingsFoga NetworksPineapple Foga HoldingsFoga Networks552,255552,255Pineapple 4,000,000Pineapple1,104,510 1.05% [] Foga HoldingsFoga Networks Foga HoldingsFoga Networks2,209,0201,104,510 12,000,0003,313,5303.15% Alpaca [] Foga HoldingsFoga NetworksAlpaca Foga HoldingsFoga Networks552,255552,255Alpaca 4,000,000Alpaca1,104,5101.05% Prometheus [] Foga DevelopmentPrometheusFoga Development1,104,510Prometheus4,000,000Prometheus 1,104,5101.05% 91
[][] [][] [] Pineapple 4,000,000 [] 3.62 12,000,000 3.62 Alpaca 4,000,000 3.62 Prometheus 4,000,000 3.62 [] PineappleAlpacaPrometheus[][] PineappleAlpacaPrometheus PineappleAlpacaPrometheus PineappleTom HwangNancy Tsai50.10% 49.90%Pineapple Bainan Shou AlpacaZhiming ZhuAlpaca Prometheus PrometheusWang SicongPrometheus PineappleAlpacaPrometheus 92
100% 100% 100% 100% 100% 23.75% 41.10% 24.70% 0.95% 9.50% [] Wang Trust (1) Keith Huang Trust (1) Hao Dong Trust (1) (2) ZHUANGJG Trust (1) 100% 100% 100% 100% 100% Foga Group (3) Foga Networks (4) Foga Holdings (5) Foga Internet Development Foga Development (6) TA (7) Qiming (8) Ignition (9) Pineapple (10) (11) Alpaca (12) Prometheus (13) 20.94% 10.27% 13.98% 0.95% 19.89% 20.10% 5.79% 1.77% 1.05% 3.15% 1.05% 1.05% 100% Foga Tech 100% 100% 23.75% 41.10% 24.70% 0.95% 9.50% (2) (2) (2) (2) (2) 20.94% 12.37% 17.13% 0.95% 48.61% (2) (2) (2) (2) (2) (1) Foga GroupFoga NetworksFoga HoldingsFoga DevelopmentManagecorp LimitedWang TrustKeith Huang TrustHao Dong TrustZHUANGJG Trust 93
(2) (3) Foga GroupManagecorp LimitedWang TrustWang Trust Managecorp LimitedWang Trust (4) Foga NetworksManagecorp LimitedKeith Huang TrustKeith Huang Trust Managecorp Limited Keith Huang Trust (5) Foga HoldingsManagecorp LimitedHao Dong TrustHao Dong Trust Managecorp Limited Hao Dong Trust (6) Foga DevelopmentManagecorp LimitedZHUANGJG TrustZHUANGJG Trust Managecorp Limited ZHUANGJG Trust (7) TATA Associates20.10%TA (8) QimingQiming Venture Partners III, L.P.Qiming Managing Directors Fund III, L.P. 5.79%Qiming (9) IgnitionIgnition Growth Capital I, L.P. Ignition Growth Capital Managing Directors Fund I, LLC. 1.77%QimingIgnitionIgnition (10) PineappleTom HwangNancy TsaiPineapple50.10%49.90%Pineapple1.05%Pineapple (11) Shou Bainan 3.15% (12) AlpacaAlpacaZhu Zhiming 1.05%Alpaca (13) PrometheusPrometheusWang Sicong 1.05%Prometheus 94
24% 30 91wan791.79 7619 21.8%75.5% 554 (MAU)24 AndroidiOS 56beta 1212beta 91wan350 360YY4399 15% 20% 91wan59 91wan 7.5 (ARPPU) 91wanbeta 95
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30 554 56beta12 12beta 91wan1.79 91wan79 91wan 91wan 91wan91wan 2.75.2 7.5 30 20%552% 52%66%79% OL 14 97
15% 20% 350 91wan 91wanVIP 91wan 98
OL 14 Animoca AppionicsAppionics 3%6%10%7% Appionics Appionics 99
% % % % %.................... 49,701 52.3 252,016 65.6 540,749 69.6 231,564 66.7 379,482 66.1.................... 45,377 47.7 131,993 34.4 235,900 30.4 115,558 33.3 194,266 33.9............................. 95,078 100.0 384,009 100.0 776,649 100.0 347,122 100.0 573,748 100.0 30 915 91wan 91wan2059 1.79 flash 100
........................................ 2 5 12 13 22............................. 16.9 161.5 445.1 221.8 317.7........................................ 4 8 12 4 12............................. 29.5 87.0 81.8 7.3 57.5 5 20%552%52% 66%79% 5 1. 24,315 25.6 I 65,881 17.2 II 235,917 30.4 97,524 17.0 2. 21,761 22.9 56,392 14.7 44,692 5.8 II 91,636 16.0 3. I 14,533 15.3 44,948 11.7 43,205 5.6 45,132 7.9 4. 11,998 12.6 43,309 11.3 40,558 5.2 41,410 7.2 5. 2,244 2.4 41,379 10.8 38,289 4.9 25,167 4.4 74,851 78.7 251,908 65.6 402,661 51.8 300,869 52.4 RPG ARPG 101
35 15 (1) (2) 1.............. 2................ (3) 3............ (3) 4. I............ 5.............. 6............ 7.............. 8.............. 9.............. 10.............. 11................ (3) 12. II........... 13.............. 14.................. 15.............. (3) 16.................. 17................ 18.............. 19.............. 20................ 21.............. 22................ 23.................. 24.............. 25.............. 26.............. 27................ 28.............. 29.............. 30.................. 31. 2................ 32.............. 33.............. 34.............. 35.................. 102
(1) 5 (2) 91wanbeta (3) 91wan (1)(2) 91wan 91wan 91wan 50 2009 I I 103
I I II III III 34 II 160 II2011 2012 3 10 QQ2012 104
3 5 5 5 105
33 2012 2012 5 12beta 15%20% AndroidiOSOL OL 14 Android 106
Animoca 1 AppionicsAppionics AppionicsiOSAndroid350 1.7AppionicsPocketGamer.biz 502013 Appionics 18 (i) (ii) (iii) 530 3 612 Beta 107
91wanbeta 3810 beta II 49beta beta 91wan beta beta 23 108
91wan MPU69,000 758,000ARPPU 6083 7% 2806501,4001,450 VIP (i) (ii)91wan(iii) 91wan 109
79131321380360YY4399 2468 110
11 20%26%30%33% 5%8%9%13% 5%5 91wan 91wan 91wan 7.5 5.23.62.791wanMPU 30,000 115,000ARPPU 125282 91wan1.79 1.418847 91wan10 111
91wan2059 91wan 91wan91wan 91wan beta 91wan 24 6891wan 66%63% 52%52%34%37%48%48% 5 21%11%13%12%5 91wan91wan91wan 9%3%6%7% 5%5 91wan91wan 112
91wan 91wan 91wan 19 91wan 471.79 30 4,03814 IDC50 CPU 113
IDC 2 91wan VIP 10091wan 530% 5 30% 5%5 (i)(ii) (iii) 1 2 24 114
IP 1 12 0.4%10% 91wan90%10% 115
77%56%31%47% 35%34%8%23% 5%5 KingNet Activision Blizzard, Inc.Electronic Arts Inc. GamevilCom2uSGlu Mobile 24% 116
5 54 44 1 119 120 134 1 88 117
1,899 %........................................... 1,456 76.7%............................................... 247 13.0%.................................... 19 1.0%......................................... 177 9.3%............................................... 1,899 100% 23.6 68.221.61424.8% 17.8%25.8%28.1% 1.05.916.811.8 1 118
12.5% 15% 150% 16GFA27,288 13912,000 166 10,000 15% 119
91wan 200,000 (i) (ii) (iii) (iv) 15,000 120
9 10,00030,000 20,000 121
122
91wan (i)(ii) (iii) (i) (ii) 91wan 123
21 124
4(1)(2)(3)(4) 34 10 Levin Eric Joshua Levin Eric Joshua 125
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127
2009................... 91wan........ 91wan 2012 [].............. 2011.. II 2011.... QQ........ 91wan 2012............... 2012............... II 2012............ 128
ICP ICP50% (i) (ii) AppionicsAnimoca Foga Tech 129
Foga Tech Foga Tech(i)(ii) (iii)appionicsfoga Tech Foga Tech []Foga Tech ICPICP ICP ICP [] (i) (ii) [] (iii) 130
(1) 1 (2) 2 (3) 3 5 4 4 100% 1. 2. 3. 4. 5. 6. ----------> [] 10 131
[] 100% 2.693 [] 5030 132
IT (i) (ii)(iii) 133
30 (i)(ii) (iii) 30 134
(i) (ii) (iii)(iv) (i)(ii) (iii) (i) (ii) 135
(i) (ii) (i) (ii)100,000 (iii) 100,000(iv) (v) (vi) (vii) 136
a) 137
b) c) d) e) f) g) [] 3 2 67 29352 138
4 (i) (ii) (iii) 4 4 (iv) 139
[] 52 (i) (ii) 52(i) (ii) (iii)(iv)(v) 52 140
10 141
Wang TrustKeith Huang TrustHao Dong TrustZHUANGJG TrustManagecorp LimitedFoga GroupFoga NetworksFoga HoldingsFoga DevelopmentManagecorp Limited20.94%,12.37%,17.13%20.94% 71.39%Managecorp Limited Foga GroupFoga NetworksFoga HoldingsFoga Internet DevelopmentFoga Development (i) (ii) (iii) (iv) (v) 142
[] [] [] A (i) 1% (ii) (iii) [] 9423 143
(i) (ii) (iii) (iv) (v) [] [] [] [][][] 144
[] [] 145
9423............. 37............. 33............... 27............. 31............. 35............. 43 LEVIN Eric Joshua... 50............. 45............... 63 37 [] 146
Foga Tech 12 33 Foga Tech 27 91wan Foga Tech 147
31 Foga Tech [] 35 TA Associates Asia Pacific Ltd.Menlo Park TA Associates Asia Pacific Ltd.Bain & Company, Inc.Crimson Investment SV, LLCSummit Partners Announce Media [] 43 Qiming Cayman Ltd.Qiming Corporate GP III, Ltd.Qiming Corporate GP III, L.P.Qiming Venture Partners III, L.P.Qiming Managing Directors Fund III, L.P. Hello Asia 148
LEVIN Eric Joshua50 Levin Levin LevinHome Box Office, Inc.HBO HBOLevin LevinCity on Demand, LLC. Levin 583 LevinThe Post Publishing Public Company Limited POST Levin Levin 45 0008 6823 15 AZ Electronic Materials S.A. AZEM 63 149
20 0008 0235 Viscon LimitedYangtze Capital Advisory Limited Ecoplast Technologies Inc 8233.................... 37.................. 29 37 150
29 29 20 L Occitane International S.A. 0097306881 2 Levin Eric Joshua1 Levin Eric Joshua 151
2 Levin Eric Joshua1 (i) (ii) (iii) 2 1 0.11.22.2 5 1.41.918.0 22.2 0.31.95.84.0 [4.7] 152
5 [] [] 6,303,497 [][] 1,000,000 [] [] [][] [] [] (i) (ii) (iii) 153
500,000,0000.0001470,940,560 0.000129,059,4400.0001 A.................................................... 50,000 76,000,0000.0001........................ 7,600 29,059,4400.0001A....................... 2,905.944 154
24%30 15 55491wan79 1.79 155
91wan 91wan91wan 91wan 91wan 91wan 91wan350 91wan59 Foga Holdings Limited 156
(i)(ii) (iii) 24 (i) (ii) (a) 157
1 12 1 91wan (b) 91wan 91wan 158
91wan 91wan 91wan 1 12 91wan 91wan 91wan (a) [] 159
(b) 160
[] 12 (i) (ii)91wan 91wan(iii) 91wan (i)91wan 91wan(ii)91wan 161
% % % % % 91wan (1)(2)...... 5,734 6.0 18,151 4.7 30,166 3.9 13,002 3.7 24,178 4.2 (3).. 41,274 43.4 229,290 59.7 473,293 60.9 209,580 60.4 334,882 58.4 (4)................... 2,693 2.8 4,575 1.2 37,290 4.8 8,982 2.6 20,422 3.6....................... 49,701 52.3 252,016 65.6 540,749 69.6 231,564 66.7 379,482 66.1 (5)(2)......... 30,137 31.7 83,149 21.7 123,110 15.9 53,910 15.5 100,278 17.5 (6)............... 15,240 16.0 48,844 12.7 112,790 14.5 61,648 17.8 93,988 16.4....................... 45,377 47.7 131,993 34.4 235,900 30.4 115,558 33.3 194,266 33.9............................. 95,078 100.0 384,009 100.0 776,649 100.0 347,122 100.0 573,748 100.0 (1) 91wan (2) 91wan 20%80% (3) (4) (5) 91wan (6) 91wan91wan 91wan MPU(i) (ii)91wan 91wanMPU (i)(ii) ARPPU(i) MPU(ii) 91wanMPU 91wanARPPU MPU ARPPU 162
ARPPU ARPPU MPU MPU (1)............ 69 240 518 382 758 ARPPU............. 60 88 87 101 83........... 47,395 88,163 141,147 117,028 179,088 MPU (1).......... 30 40 71 67 115 ARPPU............. 125 274 278 289 282 (1) 91wan................ 6 13 24 17 34 91wan.. 6 11 16 12 20......... 0 2 8 5 14 91wan................ 17 37 65 61 79.................. 6 11 16 12 20....................... 11 26 49 49 59 3 4 15 6 19............... 0 1 1 0 2................... 3 3 14 6 17 92.03.604 7.0035.3413.1 23.676.439.6 163
57.5%17.9%10.2% 11.2% % % % % %.................... 45,335 100.0 44,714 100.0 40,556 100.0 14,189 100.0 42,906 100.0.......... 3,789 8.4 10,552 23.6 24,242 59.8 10,306 72.6 17,846 41.6....... 40,439 89.2 30,604 68.4 6,365 15.7 1,348 9.5 16,832 39.2...................... 1,107 2.4 3,558 8.0 9,949 24.5 2,535 17.9 8,228 19.2.................... 9,366 100.0 24,116 100.0 38,532 100.0 16,784 100.0 21,211 100.0.......... 2,157 23.0 6,633 27.5 9,239 24.0 4,135 24.6 4,310 20.3................ 3,951 42.2 10,535 43.7 16,282 42.3 7,024 41.9 10,108 47.7...................... 3,258 34.8 6,948 28.8 13,011 33.8 5,625 33.5 6,793 32.0............................. 54,701 68,830 79,088 30,973 64,117 (i) (ii) 164
91wan (91wan) (i) (ii) % % % % %......... 4,366 10.8 8.8% 207,302 65.8 82.3% 500,193 71.7 92.5% 217,375 68.8 93.9% 336,576 66.0 88.7%......... 36,011 89.2 79.4% 107,877 34.2 81.7% 197,368 28.3 83.7% 98,774 31.2 85.5% 173,055 34.0 89.1%.................. 40,377 100.0 315,179 100.0 697,561 100.0 316,149 100.0 509,631 100.0 91wan91wan 28.0%15.5%23.0%27.7% 7.5%32.7%4.7%8.2% 97.1 (i) (ii) 165
49.4%23.4%25.8%24.6% 0.03%0.1%0.4%0.3% 0.03%0.1%0.1% 0.5% 90 1 2.72.73.9 0.3% A 2.4%64.4%[] [] A[][][]A 30[]A11 166
16.5% 25% 15% 25% 12.5% 150% 10% EBITDA [] EBITDA EBITDA 167
EBITDAEBITDA EBITDA EBITDA EBITDA EBITDA EBITDA..... (40,384) 17,849 217,617 122,236 (243,347)......... 97,089 27,489........... 18,769 369,446.... 3,645 3,645............... (40,384) 114,938 240,031 125,881 153,588.................. 1,804 6,660 14,731 4,989 12,261......... (24) (282) (1,144) (443) (3,661)...................... (26) 22,664 43,560 25,791 39,409 EBITDA... (38,630) 143,980 297,178 156,218 201,597 EBITDA 168
% % % % %............................. 95,078 100.0 384,009 100.0 776,649 100.0 347,122 100.0 573,748 100.0..................... 49,701 52.3 252,016 65.6 540,749 69.6 231,564 66.7 379,482 66.1..................... 45,377 47.7 131,993 34.4 235,900 30.4 115,558 33.3 194,266 33.9............................. (54,701) (57.5) (68,830) (17.9) (79,088) (10.2) (30,973) (8.9) (64,117) (11.2)..................... (45,335) (47.7) (44,714) (11.6) (40,556) (5.2) (14,189) (4.1) (42,906) (7.5)..................... (9,366) (9.9) (24,116) (6.3) (38,532) (5.0) (16,784) (4.8) (21,211) (3.7)............................. 40,377 42.5 315,179 82.1 697,561 89.8 316,149 91.1 509,631 88.8 4,366 4.6 207,302 54.0 500,193 64.4 217,375 62.6 336,576 58.7 36,011 37.9 107,877 28.1 197,368 25.4 98,774 28.5 173,055 30.2.............. (26,636) (28.0) (59,464) (15.5) (178,726) (23.0) (78,778) (22.7) (158,945) (27.7) (1)....................... (7,178) (7.5) (125,697) (32.7) (36,462) (4.7) (12,953) (3.7) (46,854) (8.2)......................... (46,997) (49.4) (89,845) (23.4) (200,624) (25.8) (74,284) (21.4) (141,252) (24.6)......................... 24 463 0.1 2,788 0.4 1,943 0.6 1,766 0.3......................... (123) (946) (0.1) (405) (0.1) (744) (0.1)................ (40,410) (42.5) 40,513 10.6 283,591 36.5 151,672 43.7 163,602 28.5................ (3,645) (0.5) (3,645) (1.1) 1,906 0.3.. (18,769) (2.4) (369,446) (64.4).......... (40,410) (42.5) 40,513 10.6 261,177 33.6 148,027 42.6 (203,938) (35.5).............. 26 (22,664) (5.9) (43,560) (5.6) (25,791) (7.4) (39,409) (6.9).......... (40,384) (42.5) 17,849 4.6 217,617 28.0 122,236 35.2 (243,347) (42.4).................. 2,654 0.3 10,432 1.8.. (40,384) (42.5) 17,849 4.6 220,271 28.4 122,236 35.2 (232,915) (40.6) (2)..................... (40,384) (42.5) 114,938 29.9 240,031 30.9 125,881 36.3 153,588 26.8 (1) 97.1 (2) 5.737 3.47165.3% 3.795 2.31663.9% MPU382,000 758,000ARPPU 169
10183 ARPPU ARPPUMPU(i) 12 57.5(ii) 22 3.177 13.7 9.053.1% 6.7 34 2091wan14 171291wan 5 2 1.943 1.15668.1% MPU67,000 115,000ARPPU 289282 ARPPUMPU(i) 91wan(ii) (iii)91wan 1.003 53.986.0% 94.0 61.652.5%91wan 20 591249 17 6 64.1 31.0107.0% 42.9 14.2202.4% 1.316.8 170
10.317.8 OL 21.2 16.826.4% 7.010.1 91wan [] 4.1 4.391wan 2.3 2.5 88.8% 91.1% 88.7%93.9% 89.1% 85.5% 1.58978.8101.8% 75.81.523 (i) (ii) 46.9 13.0261.7%(i) 12.5(ii) 13.034.4 [] 1.413 74.390.2%(i) 59.9 1.099(ii) 10.9 9.0 4.9 8021,456 171
1.8 1.99.1% 1.5 1.6361.5177.9% 28.5% 43.7% 1.9 3.6 2.72.73.9 A 3.694 2.039 1.48 30 39.4 25.852.8% (i)(ii) 3.694 2.4331.222 1.5361.25922.0% 7.7663.840 102.2% 5.407 2.52114.6%MPU 240,000518,000(i)12 172
OL81.8 (ii)12ii 4.451 ARPPU 16.3 4.6256.7% 21.0 241691wan 813 1191wan2 1 2.359 1.3278.7%MPU40,000 71,000(i) 91wan(ii) (iii)91wan ARPPU 1.23183.148.1% 1.12848.8 130.9%91wan1649 112614 3 79.168.8 14.9% 40.6 44.74.29.3%30.6 6.410.624.2 38.5 24.159.8% 6.69.210.5 16.3 91wan91wan 176281 2.65.2 89.8%82.1% 173
92.5%82.3% 83.7%81.7% 1.787 59.5200.6% 57.01.722(i) (ii) 36.51.257 71.0% 97.1 2.00689.8 123.3% 46.8 1.609 37.221.6 6521,493 2.80.5 1.5 2.836 40.536.5% 10.6% 3.6 2.612 40.5 43.6 22.792.2% 16.7%55.9% 2.176 17.8 174
2.4 1.149108.8% 3.8495.1 303.9% 2.52 49.7407.1%MPU 69,000240,000(i) 8II 87.0(ii)5I 1.615 ARPPU 6088(i) (ii)i 4.62.769.9% 1311 91wan2 691wan 1 1.32 45.4190.9%ARPPU 125274 MPU30,00040,000 MPU(i) 91wan(ii)(iii) 91wan ARPPU (i)91wan(ii) (iii)91wan 83.1 30.1175.9% 48.815.2220.5% 91wan1126 6113 68.854.7 25.8% 44.7 45.31.4%40.4 175
30.63.8 10.6 24.1 9.4157.5% 2.26.64.0 10.5 91wan91wan 93176 1.72.6 82.1%42.5% 82.3%8.8% 81.7%79.4% 59.5 26.6123.2% 25.757.0(i) (ii) 1.2577.2 97.1 89.847.0 91.2% 15.3 46.8 30.937.2 278652 40.5 40.410.6% 40.5 40.4 22.7 0.03(i) (ii) 55.9%0.1% 176
17.8 40.4 1.149 40.4 []..... 26,791 100,650 299,629 183,436 130,899..... (16,908) (28,112) (51,972) (7,820) (154,362).................. (20,896) 351,008 (1,550)............... 9,883 72,538 226,761 526,624 (25,013)............... 13,455 85,993 312,639 612,617 287,415 1.309 (i)10.0(ii) 11.0(iii)4.075 7.527.5 3.694(i)2.039(ii)6.6 (iii)19.9(iv)28.5 (v)38.6 177
2.996 2.612(i)39.5 (ii)22.2(iii)23.4 (iv)37.510.6 18.8(i) 38.2(ii)1.4(iii)44.5 1.007 40.5(i)8.9 (ii)20.9 (iii)1.038 97.1 (i)25.6(ii)21.5 (iii)2.2(iv)24.3 26.8 40.4(i)10.7 (ii)9.3(iii)86.0 (iv)1.8(i) 17.7(ii)22.4(iii)0.5 1.544 (i)2.22.72.7 3.9(ii)Appionics18.7(iii) 22.0(iv) 4.7(i) 1.1(ii)1.1(iii) 52.0(i) 19.7(ii)32.8 28.1(i) 27.8(ii)0.7 178
16.9 1.6 [][] 20.9(i)A 3.719(ii)90.5(iii) 3.6 (i)10.0 (ii)4.352................ 20,496 46,066 84,293 90,904 83,798...... 40,075 60,547 20,233 45,899 39,044..................... 110,854 110,402............ 13,455 85,993 312,639 287,415 348,233................ 74,026 192,606 417,165 535,072 581,477..................... 15,427................ 13,803 11,603 10,168 20,167 13,414...... 10,439 19,381 41,622 57,849 67,618................... 12,253 16,373 20,467 15,590 13,927..................... 85,594 102,628 127,145 98,086 83,523................ 122,089 149,985 199,402 191,692 193,909........ (48,063) 42,621 217,763 343,380 387,568 3.876 3.434(i) 60.8(ii)15.4 (iii) 9.8(iv)14.6 3.434 2.178(i) 179
25.7 [][](ii) 1.109(iii)25.2 (iv)16.2 [](v)29.1 2.178 42.6(i) 38.2(ii) 40.3 54.6(iii)2.266 (iv)22.2 (v)24.5 42.6 48.190.7 (i)25.6 (ii)20.5 (iii)72.5 (iv)17.0 48.1......... 16,908 27,750 19,662 6,811 22,029........... 698 32,830 1,050 4,712........................ 16,908 28,448 52,492 7,861 26,741 16.928.452.5 24.0 180
32.1 7.926.718.9 15.2 3.7 2.7................................. 4,784 8,434 17,350 20,446.................... 10,875 9,661 12,317 32,445................................... 15,659 18,095 29,667 52,891 [] (i) (ii) 181
20.6 48.386.9 91.9 0 30................................. 18,421 39,137 59,498 59,137 31 60................................ 673 3,488 17,803 23,025 61 90................................ 682 1,704 4,948 4,357 91 180............................... 631 1,846 1,230 3,319 180 365.............................. 121 1,978 814 1,156............................... 49 137 2,620 909................................... 20,577 48,290 86,913 91,903 (1)...... 79 44 40 28 29 (1) 365180 794440 2928 182
........................ 467 1,523 2,352 3,142........ 6,365 467 1,523 2,352 9,507...................... 32,054 54,679 64........................ 815 694 3,434 7,674.......................... 859 9,883 23,059............................. 4,869 3,630 1,719 403............ 2,660 2,085 []............................ 6,641........................ 566 920................................... 2,841 1,189 2,411 5,117 40,579 61,051 20,737 45,899.............. (504) (504) (504)................................... 40,075 60,547 20,233 45,899................................... 40,542 62,070 22,585 55,406 40.562.122.6 55.4 21.553.1% 39.5 63.6% 32.8145.3% 0.99.9 23.1(i)91wan (ii) (iii) 2.7 2.1 [] 6.6 [][] 183
13.5 86.03.1262.874 13.582.33.092.822 3.73.65.3 2.20 901 2.7 2.73.9 1.1 13.811.610.2 20.2 2.215.9% 1.412.4% 10.098.3% 91wan 184
0 30................................. 13,681 9,367 8,351 10,647 31 60................................ 116 956 1,018 7,778 61 90................................ 745 317 330 91 180............................... 6 151 166 719 180.............................. 384 316 693................................... 13,803 11,603 10,168 20,167 (1)...... 92 62 47 47 57 (1) 365 180 9262 47 47 57.................... 3,354 12,449 25,737 24,957...................... 5,457 3,343 9,233.......................... 4,149 508 3,841 4,095............................... 283 4,333 12,374................................... 2,653 967 4,368 7,190................................... 10,439 19,381 41,622 57,849 10.419.441.6 57.8 8.985.7% 185
186 22.2114.8% 16.2 39.0% (i)2.7 3.3(ii)0.4 A (i)0.030.4(ii) 7.21.2 (iii)0.2 (i)6.618.1(ii) 25.536.5 20017 105 A 2.3
1.01665.3 (i)(ii) (iii) 187
2010 10,000 (i) (ii) (i)15,00015,000(ii) 16,00016,000(iii) 26,00026,000(iv)6,0006,000 (v)1,0001,000 34 64 49 49 25,888 125,930 (228,351) (190,430) (45,420) (30,524) 91,639 (151,708) (19,532) 95,470 (136,663) (342,089) 19.595.51.367 3.421 25.9 1.259 1.3673.4212.2841.904 3.719A[] 24AA 188
(i)wong Po Tsan Wang Baoshan(ii)Appionics(iii) A4.342 58.83.719 AA A71.84.5121.311 8.0983.0 18.862.33.882 30 A[] A11 A[] Foga Tech 2.5 16.295%1 [] 2.5A 8.8 189
2.7 AA A 10% 36.136.673.473.6 190
(i) (ii) 90.5 2.693 191
192
[] [] [] IIII[] II1(b) II1(b) II1(b) [] I-1
[ ] III II2 2410 II2 I-2
I. II............................. 5 95,078 384,009 776,649 347,122 573,748............................. 6 (54,701) (68,830) (79,088) (30,973) (64,117)............................. 40,377 315,179 697,561 316,149 509,631.............. 6 (26,636) (59,464) (178,726) (78,778) (158,945)......................... 6 (7,178) (125,697) (36,462) (12,953) (46,854)......................... 6 (46,997) (89,845) (200,624) (74,284) (141,252)......................... 7 24 463 2,788 1,943 1,766......................... 8 (123) (946) (405) (744)................ (40,410) 40,513 283,591 151,672 163,602......................... 10 1,906......................... 10 (3,645) (3,645)............ 10 (3,645) (3,645) 1,906..................... 30 (18,769) (369,446).......... (40,410) 40,513 261,177 148,027 (203,938).............. 11 26 (22,664) (43,560) (25,791) (39,409).......... (40,384) 17,849 217,617 122,236 (243,347)......................... 2,654 10,432....................... (40,384) 17,849 220,271 122,236 (232,915).............. (40,384) 17,849 220,271 122,236 (232,915).................... (40,384) 17,849 220,271 122,236 (232,915).............. 12........................... (0.40) 0.18 4.02 1.32 (14.78)........................... (0.40) 0.18 2.30 1.22 (14.78)............................. 13 90,500 90,500 I-3
II.............. 14 17,430 38,536 46,700 55,310................ 16 2,354 2,672 31,349 30,812..... 18 18,536......... 20 467 1,523 2,352 9,507......... 31 13,843 19,480 24,463 18,760 34,094 62,211 104,864 132,925........... 19 20,496 46,066 84,293 90,904......... 20 40,075 60,547 20,233 45,899................ 21 110,854....... 22 13,455 85,993 312,639 287,415 74,026 192,606 417,165 535,072................ 108,120 254,817 522,029 667,997.................... 23 64 49 49.................... 24 25,888 125,930 (228,351) (190,430).............. (45,420) (30,524) 91,639 (151,708)....... (19,532) 95,470 (136,663) (342,089)................ 27 5,266 9,145 7,987 8,511..... 30 451,153 809,767......... 31 297 217 150 116 5,563 9,362 459,290 818,394........... 28 13,803 11,603 10,168 20,167.............. 29 10,439 19,381 41,622 57,849.............. 12,253 16,373 20,467 15,590................ 27 85,594 102,628 127,145 98,086 122,089 149,985 199,402 191,692................ 127,652 159,347 658,692 1,010,086......... 108,120 254,817 522,029 667,997... (48,063) 42,621 217,763 343,380..... (13,969) 104,832 322,627 476,305 I-4
II................. 15 102,977 102,977 117,746................. 15 31,427 49,430 102,977 134,404 167,176........... 20 12,056................. 34(d) 64 64................. 22 28,706 952 64 28,770 13,008.......................... 103,041 163,174 180,184.............................. 23 64 49 49.............................. 24 102,977 (266,532) (231,883).......................... 26 (23,677) (406,227)................. 103,041 (290,160) (638,061)............... 30 451,153 809,767........... 29 2,181 8,478.......................... 453,334 818,245................... 103,041 163,174 180,184..................... 64 26,589 4,530............... 103,041 160,993 171,706 I-5
II.................... 25,888 (5,036) 20,852.................. (40,384) (40,384)......... 25,888 (45,420) (19,532).................... 25,888 (45,420) (19,532).................. 17,849 17,849............. 17,849 17,849............. 23 64 64.................... 25 97,089 97,089 64 97,089 97,153..... 24 2,953 (2,953)......... 64 125,930 (30,524) 95,470.................... 64 125,930 (30,524) 95,470.................. 217,617 217,617........... 24 2,654 2,654............. 2,654 217,617 220,271 A............. 23 (15) (371,889) (371,904)................ 24 10,000 10,000...................... 13 (90,500) (90,500)................ (15) (361,889) (90,500) (452,404)..... 24 4,954 (4,954)......... 49 (228,351) 91,639 (136,663) I-6
II.................. 64 125,930 (30,524) 95,470................ 122,236 122,236........... 122,236 122,236... A................ 23 (15) (371,889) (371,904).............. 24 10,000 10,000.................... 13 (90,500) (90,500)........... (15) (361,889) (90,500) (452,404)......... 49 (235,959) 1,212 (234,698) II.................. 49 (228,351) 91,639 (136,663)................ (243,347) (243,347)......... 24 10,432 10,432... 10,432 (243,347) (232,915) []......... 24 27,489 27,489.............. 27,489 27,489..... 49 (190,430) (151,708) (342,089) I-7
II..................... 32 27,301 124,911 344,145 209,660 169,516....................... (510) (24,261) (44,516) (26,224) (38,617)............ 26,791 100,650 299,629 183,436 130,899.................. (16,908) (27,750) (19,662) (6,811) (22,029).......... 32 336 520 41 52..................... (698) (32,830) (1,050) (4,712)........ 18 (18,725)..................... 21 (220,000)........ 21 110,000................ 1,052............ (16,908) (28,112) (51,972) (7,820) (154,362) A..................... 23 (371,904)....................... 24 10,000 10,000........ 23(a) 64......................... 13 (90,500) (90,500) []................. (1,614)....................... 30 435,153 435,153.................. 10 (3,645) (3,645).... (20,896) 351,008 (1,550).................... 9,883 72,538 226,761 526,624 (25,013)........ 3,572 13,455 85,993 85,993 312,639...... (115) (211)........ 13,455 85,993 312,639 612,617 287,415 I-8
II. 1. (a) Foga Holdings Limited P.O. Box 613, 4th Floor Harbour Centre, George Town, Grand Cayman KY1-1107, Cayman Islands Foga Group Ltd.Foga Networks Development Ltd.Foga Holdings Ltd.Foga Internet Development Ltd. Foga Development Co., Ltd. 66.03% (b) 10,000,00010,000,000 [] (i) (ii) 50,000 50,0001.0010,0001.00 (iii) Foga Tech LimitedFoga Tech (iv) Foga Tech (v) I-9
Foga Tech (vi) 2.2.1(a) Foga Tech Limited 1 100% (1) 10,000 100% 5,000,000 100% 10,000,000 10,000,000 10,000,000 100% 100% 100% (2) (3) (4) (5) (3) I-10
(1) (2) (3) (4) (5) (c) 2. 2.1 4 I-11
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(a) 1(c) (b) 1(c) I-13
39 (c) 2.2.2 2.3 2.4 (a) (b) I-14
(c) 2.5 5 35 5 I-15
2.7 2.6 (a) (b) 35 (c) 310 (d) (1) (2) (3)(4) (5) (6) I-16
2.7 2.8 (a) 12 12 2.11 2.12 (b) I-17
2.9 2.10 2.11 2.12 2.13 2.15 I-18
2.14 2.15 30 [] 30 12 2.16 (a) I-19
(b) (c) 2.17 2.18 (a) 2AA 25 [] I-20
(b) A 2.19 2.20 I-21
(a) 91wan.com2918.com9vs.com915.com336.com 91wanYY 20%40% 12 I-22
(b) (a)91wan (a)91wan 91wan 12 Alipay99billYeepay 91wan 2.21 I-23
2.22 2.23 2.24 3 3.1 (a) (i) (ii) AA 304.1(c) I-24
(iii) A A 10% 36,080,00036,638,000 73,371,00073,557,000 (b) (c) I-25
................................................. 13,803...................... 2,618................................................. 11,603...................... 5,878................................................. 10,168...................... 11,813................................................. 20,167...................... 28,708...................... 1,858...................... 8,134 A 150% 30A A 3.2 A I-26
3.3............. 451,153 451,153....................... 110,854 110,854............. 18,536 18,536 110,854 18,536 129,390............. 809,767 809,767 I-27
1830 A 4 4.1 (a) 2.20 I-28
(b) (c) A A A 30 100A 43,331,000 52,853,000 (d) 2.18A2 25 100 2 4,951,0005,484,000 (e) 25 4.2 (a) 2.20 I-29
2.20(a)27 2.20 (b) A A2,400,00023 (c) 23(c)A 5. I-30
....................... 49,701 45,377 95,078....................... (45,335) (9,366) (54,701)........................... 4,366 36,011 40,377...... 1,106 600 1,706....................... 252,016 131,993 384,009....................... (44,714) (24,116) (68,830)........................... 207,302 107,877 315,179...... 3,258 1,868 5,126....................... 540,749 235,900 776,649....................... (40,556) (38,532) (79,088)........................... 500,193 197,368 697,561...... 9,143 3,538 12,681....................... 231,564 115,558 347,122....................... (14,189) (16,784) (30,973)........................... 217,375 98,774 316,149...... 2,535 1,624 4,159....................... 379,482 194,266 573,748....................... (42,906) (21,211) (64,117)........................... 336,576 173,055 509,631...... 8,206 1,602 9,808 I-31
....................... 91,992 3,086 95,078....................... 360,417 23,592 384,009....................... 700,252 76,397 776,649....................... 311,890 35,232 347,122....................... 534,147 39,601 573,748 10% 95,078,000384,009,000776,649,000347,122,000 573,748,000 I-32
6. 9a... 23,610 68,197 200,032 74,906 161,351 25........... 96,702........... 25,664 57,014 172,193 75,871 152,572....... 5,986 17,275 34,360 14,541 22,617......... 30,875 37,203 21,558 8,980 4,865 b................. 40,439 30,604 6,365 1,348 16,832..... 1,717 7,198 12,288 4,708 13,630 14... 1,483 6,280 10,578 4,786 7,524........... 872 3,550 8,601 2,317 3,287..... 1,731 3,932 6,258 2,245 2,706................ 14 3,812 6,089 19 2,313............. 1,702 2,595 5,153 2,279 2,450 16..... 321 380 4,153 203 4,737.................. 54 4,087 1,754 1,278 12,552............. 253 552 1,254 553 982...................... 791 4,455 4,264 2,954 2,750......... 135,512 343,836 494,900 196,988 411,168 (a) (b) 387,00025 7................. 24 282 1,144 443 1,755................ 181 1,644 1,500 11 24 463 2,788 1,943 1,766 8............ 95 546 226 551......... 28 400 179 193 123 946 405 744 I-33
9........ 20,112 54,122 159,822 62,072 111,418....... 349 1,932 5,830 1,932 3,999.............. 3,149 11,756 34,380 10,902 18,445 25.............. 387 [].............. 27,489 23,610 68,197 200,032 74,906 161,351 (a) 12%) (b) (i).......................... 114 4 7 125 (ii)......................... 114 6 10 130 (ii)............................ 120 7 7 134 I-34
(i).......................... 228 12 21 261 (ii)......................... 394 14 24 432 (ii)............................ 228 12 21 261 (ii)......................... 181 3 8 192 Sippel Edward Francis (iii)............. (iii)......................... (iii)......................... Iosilevich Alexander Gennady (iv)....... 42 42 Levin Eric Joshua (iv)................. 50 50 (i).......................... 114 6 10 130 (ii)......................... 190 7 11 208 (ii)............................ 114 6 11 131 Sippel Edward Francis (iii)............. (iii)......................... (iii)......................... I-35
(i).......................... 114 6 10 130 (ii)......................... 204 7 14 225 (ii)............................ 114 6 11 131 (ii)......................... 204 3 7 214 Sippel Edward Francis (iii)............. (iii)......................... (iii)......................... Iosilevich Alexander Gennady (iv)....... 125 490 615 Levin Eric Joshua (iv)................. 150 739 889 (i) (ii) (iii) (iv) (v) (vi) Sippel Edward Francis Sippel Edward Francis Losievich Alexander Gennady Levin Eric Joshua Losievich Alexander Gennady (c) 5 5 I-36....... 1,408 1,341 16,619 9,522 2,909....... 9 33 39 19 14... 8 142 1,321 38 41 25.............. 387 [].............. 19,235 1,425 1,903 17,979 9,579 22,199
I-37 1,000,000.... 5 5 1,000,001 1,500,000.......... 1 1 1,500,001 2,000,000.......... 2 1 2,500,001 3,000,000.......... 1 1 3,500,001 4,000,000.......... 2 1 1 5,000,001 5,500,000.......... 1 7,000,001 7,500,000.......... 1 9,500,001 10,000,000......... 1 10,500,001 11,000,000......... 1 5 5 5 5 5 (d) 5 10 A 30..................... (3,645) (3,645) 21. 1,906........ (3,645) (3,645) 1,906 11....... 12,633 28,381 48,610 27,066 33,740 31.................. (12,659) (5,717) (5,050) (1,275) 3,670.................. 1,999..... (26) 22,664 43,560 25,791 39,409
.................. (40,410) 40,513 261,177 148,027 (203,938) i.... (10,103) 10,128 65,434 37,979 44,965.............. 4,009 (4,274) (24,335) (15,678) (14,915).............. 269 63....... (480) (1,308) (4,840) (666) (3,254)..................... 14,563 2,945................. 6,548 3,555 7,032 4,156 7,606........... 1,999..... (26) 22,664 43,560 25,791 39,409 (i) A (a) (b) 16.5% (c) 25% 15% 2 25% I-38
12.5% 150% (d) 10% 10% 5% 12. 23 (a).......... (40,384) 17,849 217,617 122,236 (243,347) i.......... 100,000,000 100,000,000 54,066,667 92,933,333 16,466,667........ (0.40) 0.18 4.02 1.32 (14.78) (i) 23(c)A 23(c) I-39
87,000,00098,000,00076,000,000 2.501.25(3.20) (b) 2 A A 3 A[] A []........... (40,384) 17,849 217,617 122,236 (243,347) 30........... 18,769........... (40,384) 17,849 236,386 122,236 (243,347)... 100,000,000 100,000,000 54,066,667 92,933,333 16,466,667......... 32,933,333 5,066,667........... 15,740,530 2,421,620............. 100,000,000 100,000,000 102,740,530 100,421,620 16,466,667....... (0.40) 0.18 2.30 1.22 (14.78) I-40
13... 90,500 90,500 78,000,00012,500,000 14.................... 249 2,196 2,445................ (77) (363) (440)................ 172 1,833 2,005........... 172 1,833 2,005.................... 1,393 15,515 16,908................ (98) (1,385) (1,483)........... 1,467 15,963 17,430.................... 1,642 17,711 19,353................ (175) (1,748) (1,923)................ 1,467 15,963 17,430........... 1,467 15,963 17,430.................... 3,359 21,910 261 2,220 27,750.................... (322) (42) (364)................ (637) (5,234) (409) (6,280)........... 3,867 32,597 261 1,811 38,536.................... 4,600 39,574 261 2,220 46,655................ (733) (6,977) (409) (8,119)................ 3,867 32,597 261 1,811 38,536 I-41
........... 3,867 32,597 261 1,811 38,536.................... 5,262 12,805 1,577 18 19,662.................... (280) (640) (920)................ (1,067) (8,499) (154) (858) (10,578)........... 7,782 36,263 1,684 971 46,700.................... 9,424 51,617 1,838 2,238 65,117................ (1,642) (15,354) (154) (1,267) (18,417)................ 7,782 36,263 1,684 971 46,700........... 3,867 32,597 261 1,811 38,536.................... 1,038 5,755 18 6,811.................... (107) (113) (220)................ (438) (3,894) (25) (429) (4,786)........... 4,360 34,345 236 1,400 40,341.................... 5,488 45,148 261 2,238 53,135................ (1,128) (10,803) (25) (838) (12,794)................ 4,360 34,345 236 1,400 40,341........... 7,782 36,263 1,684 971 46,700.................... 2,523 5,580 509 7,767 16,379.................... (146) (99) (245)................ (904) (5,225) (182) (1,213) (7,524)........... 9,255 36,519 2,011 7,525 55,310.................... 11,717 56,991 2,347 10,005 81,060................ (2,462) (20,472) (336) (2,480) (25,750)................ 9,255 36,519 2,011 7,525 55,310 I-42.................... 1,385 4,758 8,708 3,967 5,313................ 13 562 872 354 710................ 72 947 946 444 1,464..... 13 13 52 21 37 1,483 6,280 10,578 4,786 7,524
15 a.................... b... 102,977 102,977 117,746 c... 31,427 49,430 102,977 134,404 167,176 1(b) (a) (b) (c) 11 A2 25 16 I-43 a.............................. 1,586 1,169 2,755.......................... (80) (80).......................... 1,586 1,089 2,675..................... 1,586 1,089 2,675.......................... (321) (321)..................... 1,586 768 2,354.............................. 1,586 1,169 2,755.......................... (401) (401).......................... 1,586 768 2,354..................... 1,586 768 2,354.............................. 98 600 698.......................... (12) (368) (380)..................... 1,586 86 1,000 2,672.............................. 1,586 98 1,769 3,453.......................... (12) (769) (781).......................... 1,586 86 1,000 2,672
a..................... 1,586 86 1,000 2,672 b...................... 1,590 31,240 32,830.......................... (189) (3,964) (4,153)..................... 1,586 1,487 28,276 31,349.............................. 1,586 1,688 33,009 36,283.......................... (201) (4,733) (4,934).......................... 1,586 1,487 28,276 31,349 a..................... 1,586 86 1,000 2,672.............................. 50 1,000 1,050.......................... (11) (192) (203)..................... 1,586 125 1,808 3,519.............................. 1,586 148 2,769 4,503.......................... (23) (961) (984).......................... 1,586 125 1,808 3,519..................... 1,586 1,487 28,276 31,349.............................. 1,600 2,600 4,200.......................... (255) (4,482) (4,737)..................... 1,586 2,832 26,394 30,812.............................. 1,586 3,288 35,609 40,483.......................... (456) (9,215) (9,671).......................... 1,586 2,832 26,394 30,812 (a) (b) 1,586,0001(b) 25,000,000 I-44
I-45.................... 321 368 3,973 192 4,495................ 12 137 11 198................ 43 44 321 380 4,153 203 4,737 17................... 20,496 46,066 84,293 90,904.... 37,701 60,022 7,065 12,619............... 13,455 85,993 312,639 287,415....................... 110,854................. 18,536 71,652 192,081 403,997 520,328................... 13,803 11,603 10,168 20,167.................. 2,618 5,878 11,813 28,708............. 451,153 809,767 16,421 17,481 473,134 858,642............ 28,706 952............ 64 64. 5,413 64 28,770 6,365............... 1,858 8,134.......... 451,153 809,767 453,011 817,901
18 Appionics Holdings LimitedAppionics a.......................................... 18,725................................................. (189)....................................... 18,536............. (a) 3,000,00018,725,000 Appionics B Appionics 19............................ 17,415 44,956 86,913 91,903 34................... 3,162 3,334 20,577 48,290 86,913 91,903..................... (81) (2,224) (2,620) (999) 20,496 46,066 84,293 90,904 (a) 0 30............................ 18,421 39,137 59,498 59,137 31 60........................... 673 3,488 17,803 23,025 61 90........................... 682 1,704 4,948 4,357 91 180.......................... 631 1,846 1,230 3,319 181 365......................... 121 1,978 814 1,156.......................... 49 137 2,620 909 20,577 48,290 86,913 91,903 (b) 3060 I-46
1,403,0002,459,000 3,623,0004,546,000 (c).......................... 81 2,224 2,620.......................... 81 2,143 561 535.................... (165) (1,683).............................. (473).......................... 81 2,224 2,620 999 (d)............................ 20,356 33,373 72,076 74,553.............................. 221 14,917 14,837 17,350 20,577 48,290 86,913 91,903 (e) (f) 24%33%31%28%2222 I-47
20................... 467 1,523 2,352 3,142... 6,365 467 1,523 2,352 9,507 34......... 32,054 54,679 64................... 815 694 3,434 7,674 a.............. 859 9,883 23,059........................ 4,869 3,630 1,719 403....... 2,660 2,085 []....................... 6,641................... 566 920.............................. 2,841 1,189 2,411 5,117 40,579 61,051 20,737 45,899......... (504) (504) (504) 40,075 60,547 20,233 45,899 (a) 504,000 [] 21 2.7 3.9902.7% I-48
22............... 13,455 82,288 309,000 282,159............. 3,705 3,639 5,256 13,455 85,993 312,639 287,415..................... 13,455 85,993 312,639 287,415............ 28,706 952.................. 28,706 952............................ 13,455 85,993 280,376 282,789.............................. 32,263 4,625.............................. 1 13,455 85,993 312,639 287,415........................... 28,706 952 23............ a 50,000 50,000................ 50,000 50,000.................. b 49,950,000.............. b (2,905,944) (2,906) 2,905,944 2,906.................. d 423,846,504 26,153,496.......... 470,940,560 47,094 29,059,440 2,906 I-49
.............................. a 10,000 10 64............. 10,000 10 64......................... b 9,990,000.............................. c (2,400,000) (2) (15)......................... d 68,400,000................. 76,000,000 8 49 (a) (b) (c) (d) (e) 50,00050,0001 10,00064,00010,0001 11,000 47,094,056 0.0012,905,9440.001 AA 68,800,000435,153,0002,905,944 0.001A58,800,000371,904,000 A2,400,0000.001 2,00015,000 58,798,000371,889,000 AA AA [] 60,800,00045,600,000 110 50,000470,940,5600.0001 29,059,4400.000176,000,000 0.000129,059,4400.0001A 4 Foga Holdings Ltd. Foga Networks Development Ltd. Foga Development Co., Ltd. 1.05%3.15%1.05%1.05%4,000,000 12,000,0004,000,0004,000,000 I-50
24 a b...... 20,000 5,888 25,888 2 25....................... 97,089 97,089.................. 2,953 2,953...... 20,000 2,953 102,977 125,930 A 23(c).................... (371,889) (371,889) a............... 10,000 10,000.................. 4,954 4,954..................... 2,654 2,654...... 30,000 7,907 102,977 2,654 (371,889) (228,351)............ 20,000 2,953 102,977 125,930 A 23(c).................... (371,889) (371,889) a............... 10,000 10,000.......... 30,000 2,953 102,977 (371,889) (235,959)............ 30,000 7,907 102,977 2,654 (371,889) (228,351) [].................. 27,489 27,489..................... 10,432 10,432.......... 30,000 7,907 130,466 13,086 (371,889) (190,430) I-51
................. 5,888 5,888 225... 97,089 97,089....... 102,977 102,977 A 23(c)..................... (371,889) (371,889)..................... 2,380 2,380....... 102,977 2,380 (371,889) (266,532)............. 102,977 102,977 A 23(c)..................... (371,889) (371,889)........... 102,977 (371,889) (268,912)............. 102,977 2,380 (371,889) (266,532) []................... 27,489 27,489..................... 7,160 7,160........... 130,466 9,540 (371,889) (231,883) (a) (b) 1(b) 10% 50% 25% 10%50% 25 (a) (i) A 24%2A 5,888,000 (ii) 12.55%2 I-52
97,089,000 23% (b) [] [] 425% 5,385,611......................................... 0.0001 5,385,611........................................... 0.0001 (106,484)........................ 5,279,127 0.0001 23% I-53
3.0319.02.................................................... 1.84%.......................................................... 60.33%........................................................ 9 26................................................................................ (23,677)............................ (23,677)...................................................... (382,550)................................. (406,227) 27 b.......... 5,266 9,145 7,987 8,511................... 85,594 102,628 127,145 98,086 90,860 111,773 135,132 106,597 (a) (b) 2.20 2.20(a) 72,741,00071,080,00027,011,00016,003,000 12 28 I-54
0 30.......................... 13,681 9,367 8,351 10,647 31 60......................... 116 956 1,018 7,778 61 90......................... 745 317 330 91 180........................ 6 151 166 719 181 365....................... 384 316 325 12.......................... 368 13,803 11,603 10,168 20,167 (a) 29............. 3,354 12,449 25,737 24,957............... 5,457 3,343 9,233 b............ 4,149 508 3,841 4,095........................ 283 4,333 12,374............................ 2,653 967 4,368 7,190 10,439 19,381 41,622 57,849 (a) (b) 30 23.676 2,905,944A68,800,000 435,153,0000.001A (a) A 5% AA I-55
(b) A A 100%A (c) AA A A150% A (d) A A1:1 (i)[] [](ii)a A[] 20% 5.8 A [][] []A AA100% A I-56
50%A A (i) 5.8(ii)A [] []A (i)[][](ii)a A (e) A1 A A............................................................................................. 435,153.................................................... 18,769................................................. (2,769)................................... 451,153............. 18,769......................................... 451,153.................................................... 369,446................................................. (10,832)....................................... 809,767............. 369,446 A A3,645,000 10 I-57
A......................... 23% 23% 17.8%..................... 0.42% 0.39% 0.16%........................... 52.39% 53.17% 53.76% A AA 31........... 518 233 74 196........... 13,325 19,247 24,389 18,564 13,843 19,480 24,463 18,760........... 297 217 150 116.......... 13,546 19,263 24,313 18,644.............. 887 13,546 19,263 19,263 24,313......... 12,659 5,717 5,050 1,275 (5,669).............. 13,546 19,263 24,313 20,538 18,644 I-58
............. 731 136 397 1,264................... 12,569 319 (309) 12,579....... 13,300 455 88 13,843................... 1,524 2,047 2,066 5,637....... 14,824 2,502 2,154 19,480................... 3,159 3,305 (1,481) 4,983....... 17,983 5,807 673 24,463................... (4,102) (1,288) (313) (5,703)........... 13,881 4,519 360 18,760......................................... 377............................................... (80)................................... 297............................................... (80)................................... 217............................................... (67)................................... 150............................................... (34)....................................... 116 116,944,000 260,178,000 I-59
32.......... (40,410) 40,513 261,177 148,027 (203,938) 14.............. 1,483 6,280 10,578 4,786 7,524 16.............. 321 380 4,153 203 4,737............. 28 400 179 193.............. 97,089 27,489 10.............. 3,645 3,645 (1,906) 30... 18,769 369,446......... (17,666) (25,570) (38,227) (8,813) (6,611)......... (22,398) (21,464) 39,485 43,897 (19,879)......... 10,666 (2,200) (1,435) (3,478) 9,999.............. 9,319 8,942 22,241 16,633 10,997............. 85,986 20,913 23,359 4,581 (28,535)....... 27,301 124,911 344,145 209,660 169,516 (a) 14....... 364 920 220 245 8............... (28) (400) (179) (193).............. 336 520 41 52 (b) 33 (a) 2,662,000 (b) 6 I-60
.......................... 4,784 8,434 17,350 20,446............. 10,875 9,661 12,317 32,445 15,659 18,095 29,667 52,891 34 (a) 1A (i) 1A (i) (ii) (ii) (iii) (iv) (i) (ii) (iii) (iv) A I-61
(b) (i)........ 2,441 5,794 11,926 11,926............ 8,137 5,445 5,445............ 911 8,351 20,782 20,782............ 418 1,151 1,151 3,352 22,700 39,304 39,304 (ii)........ 1,127 25,168 26,753 26,753............ 2,658 689 3,785 25,857 26,753 26,753 (iii)............ 12,469 23,620 372 372............ 640 13,109 23,620 372 372 (iv)............ 5,600............ 6,400 12,000 (c) (i)............... 2,731 3,334................... 431 3,162 3,334 I-62
(ii)............... 28 357................... 7,225 1,197................... 151 7,253 1,705 (d) (i).................. 11,500 6,602 49,297.................... 5,860 25,452 26,759.................. 6,602 18,128 18,133.................... 25,452 36,487 37,434.................. 18,128 18,128.................... 36,487 36,487 I-63 (ii)................... 15 15..................... 16 16................... 26 26................... 6 6..................... 1 1 64 64
(e)....... 372 578 7,316 3,524 1,464.................. 6 20 58 26 29.............. 5 28 602 43 120 []..... 8,122 383 626 7,976 3,593 9,735 35 36 (a) []25 898,8004.88 30.1627,108,000 (b) []25 156,500 III. [] [] I-64
[] 1. (a) 27(2) (b) 2. (a) (i) (ii) II-1
(iii) (iv) (v) (vi) (aa) II-2
(bb) (cc) (dd) 5% (ee) (1) (2) (ff) (vii) (viii) 1/331/3 31 II-3
(aa) (bb) (cc) 12 (dd) (ee) (ff) 3/4 II-4
(ix) (x) (xi) 30 (b) (c) (i) (ii) (iii) (iv) (v) II-5
(d) 3/4 3/4 1/3 (e) [] [] [] 14 II-6
30 (f) (g) (h) 15 (i) 2120 2110 1410 [] (i) (ii) 95% (a) (b)(c) (d)(e) (f) 20% (g) II-7
(j) (k) 3/4 15 (l) II-8
(m) (n) 21 II-9
(o) (i) (ii) (a) (b) II-10
(p) 2.50 (q) 8 8 14 (r) 3(f) II-11
(s) (i) (ii) (t) (i) 12(ii)12 (iii)12 3[] [] (u) 3. II-12
(a) (b) (a)(b) (c)37(d)(e) (c) II-13
(d) (e) 34 34 (f) (a)(b) (c) 1/5 (a)(b) (c) (d) II-14
(g) (h) (i)(ii) (iii) 5 (i) (j) 6 (i) (ii) 20 (k) (l) II-15
(m) [] (n) (a)(b) (c) (d) II-16
21 (o) (p) (q) 490% 4 II-17
(r) 4. II-18
A. 1. CF-259984 158 XIKCS Hong Kong Limited 158 490 37-3886-20-66608091 2. 50,00050,0001.00 11.00 1,0000.00111.00A1,000 0.001A50,000 47,094,0560.0012,905,9440.001A 10,505.947,600,0000.0012,905,944 0.001A 10.001 100.000110.001A10 0.0001A50,000 470,940,5600.000129,059,4400.0001A 3. (a) Foga Tech 10,000 10,0001.001.001 1.00 III-1
(b) 10,000 10,0001.0010,00010,000 1.00 (c) 10,000,000 2,375,0004,110,00 2,470,00095,000950,000 (d) 5,000,000 5,000,000Foga Tech 4. (a) [] (b) [] (c) (d) [] 1. 2 a. Foga TechATAXI L.P.TAIG Aquisitions A A Qiming Venture Partners III L.P.Qiming Managing Directors Fund III, L.P.Ignition Growth Capital I, I.P.Ignition Growth Capital Managing Directors Fund I, LLC2,905,944A 68,800,000 b. A [] c. Foga TechA [] d. A [] e. Foga HoldingsFoga NetworksPineapple [] f. Foga HoldingsFoga Networks [] g. Foga HoldingsFoga NetworksAlpaca [] III-2
h. Foga DevelopmentPrometheus [] i. AppionicsOutblaze Ventures Corporation Appionics Appionics 107,143 RCP B Appionics 3,000,000 j. AppionicsYong Hui Capital Holdings I, Ltd.,Yong Hui Capital Holdings II, Ltd., Intel Capital Corporation Appionics k. Outblaze Ventures CorporationBolva Investments LimitedNeoteny Startup 1 Limited PartnershipWaterfront LimitedYong Hui Capital Holdings I, Ltd.,Yong Hui Capital Holdings II, Ltd.,Intel Capital Corporation Appionics Appionics Appionics l. m. n. o. p. q. r. III-3
s. t. u. v. w. x. y. z. aa. bb. III-4
cc. dd. ee. ff. gg. hh. ii. jj. kk. ll. mm. III-5
nn. oo. pp. qq. rr. ss. tt. uu. vv. ww. xx. yy. zz. III-6
aaa. bbb. ccc. ddd. eee. fff. ggg. 2. (a) 1. 8595287 9 2. 8595460 9 3. 8599670 9 4. 8599692 41 5. 9028913 9 6. 9028931 41 7. 9134327 9 8. 9134436 41 9. 7830379 41 10. 8359406 35 11. 7936340 41 12. 8374169 9 13. 8374185 41 III-7
14. 10691072 41 15. 10740797 9 16. 10740882 41 17. 9714429 42 18. 9714348 41 19. 9714203 9 20. 10990138 41 21. 10990048 9 22. 11471822 41 23. 11471834 41 24. 11471846 41 25. 11246908 41 26. 11246789 28 27. 11246715 9 28. 11820514 9 29. 11826706 41 30. 302518182 9354142 31. 302518164 9354142 32. 302518173 9354142 12013410 22 III-8
(b) 1. 200910265631.5 (c) 1. www.91wan.com 2. www.weedong.com 3. www.forgame.com 4. www.915.com 5. www.9vs.com 6. www.2918.com 7. www.forgame.com.cn 8. xunwan.com 9. gzfeiyin.com 10. feiyin.com 11. 336.com 12. jieyou.com 44 (d) 1. V1.0 2009SR023508 2. V1.0 2009SR031929 3. V1.0 2009SR028270 4. V2.0 2010SR014281 5. V1.0 2010SR023709 6. V1.0 2010SR039768 7. V1.0 2010SR049991 III-9
8. V1.0 2010SR049992 9. V1.0 2011SR003600 10. II V1.0 2011SR014697 11. V1.0 2011SR004953 12. V1.0 2011SR009402 13. V1.0 2011SR028839 14. 15. OL V1.0 2012SR017736 OL V1.0 2012SR017736 16. V1.0 2011SR089472 17. V1.0 2011SR088031 18. V1.0 2013SR021386 19. V1.0 2012SR061713 20. V1.0 2012SR058826 21. V1.0 2012SR085479 22. V1.0 2012SR063194 23. V2.0 2012SR076544 24. V1.0 2011SR039499 25. V1.0 2010SR024025 26. V1.0 2010SR026857 27. V1.0 2011SR009990 119 III-10
1. 1. 3 [] 3 [] Levin Eric Joshua 2 [] 3 1 2. 1.2 2.2 4.7 III-11
3. 4. 34 [] [] (a) [] [][] (b) [] (i) (ii) (iii) [] 1.00 [] 28(c) III-12
[][] [] (c) [] 28 (d) []6,303,5666% A (i)[] (e) [] (f) (i)[] (ii) [] (g) [] [] [] III-13
[] (25%) (i) (A)(B)(j)(viii) (ii) [] [][] [] (h) (i) (i) (ii) (iii) III-14
(j) (i) (ii) (iii) (iv) (v) (vi) (vii) (f) (viii) a) b) c) III-15
(ix) (x) (xi) (k) [] [] [] (l) (d) (m) [] []10 [] [] (n) [](i)(ii) (iii) (iv) (o) [] III-16
(a) []168,092 [] LEVIN Eric Joshua 2112 2802 41A F6F-1 12 116D 1.00 (1) 69,292 1.00 (1) 49,400 1.00 (1) 49,400 10 10 10 168,092 1. 0.0001 (b) []1,300,594 III-17
[]...................... 56A 25D........................ 2 91649 1.00 (1) 1,050,594 1.00 (1) 250,000 2 1,300,594 10 10 1. 0.0001 (c) 3[][] []360 Xu Brian1,000,0004,834,811 1001,262,213 []1,000,000 1.00................... (1) 359 3,572,598 3,572,598 10 1. 0.0001 III-18
[]1,000,000 XU Brian.................. 158 42203 1.00 (1) 1,262,213 1 1,262,213 10 1. 0.0001 [] A. [] (a) [] (b) [] [](c) (i) (ii) III-19
(iii) (iv) (c) (i) (ii) [] (iii) [] (d) (i) (ii) (iii) (iv) [] (v) (e) [] [] 1.00 1.00 III-20
[] (d) [][] [] (f) [] (i) [] (ii) 28 (g) [] [] 10%10%[] 10%[] 10% [][] [] 30% [] III-21
(i) 10% (ii) [] (iii) [][][] [] (t) (h) 12 1% 1% [] III-22
(i) [] 1[] 1[][] 12 [] (i) 0.1% (ii) []5,000,000 [] 1[]1[] (j) (i) [][][][] (ii) a. b. [] [][] (iii) a. []60 III-23
b. []30 [] (k) (l) [] [] []10 [] (m) (n) 12 III-24
(o) (n)(u) (p) (q) (r) (p) (s) [] (f)[] [] III-25
(t) (i) (ii) (iii) (iv) [] (f) (u) (i) (ii) (n)(p)(q)(r) (iii) (q) (iv) (n) III-26
(v) [] (vi) (k) (vii) (v) [] [] (i) (ii) [] (iii) (b)(i)(k)(n)(p)(u) [] [] 1[]1 [] [] (w) [] [] 10%[] III-27
(x) [] [] [][] [] [] (y) [] [] [] [] (z) [] [] (i) [] (ii) [][] (iii) [][] (aa) [] [] (a) III-28
(b) (c) (i) (ii) (iii) (iv) (d) (i) (ii) [][] (iii) [] (e) (y) 10 (f) III-29
(g) [] (h) (i) (ii) [][] (iii) [] (iv) [][][] (i) (ii) [] [] III-30
(i) (j) [] [][] (k) [] 11,290,494 (m) (l) (i) (ii) (i) (ii) (iii) III-31
(m) 9% (n) (o) (p) (i)(ii) 50% 50% (q) III-32
10% [](i) 10%(ii) 10% (r) (i) (s) (ii) a. b. (iii) (iv) (iii) (t) (t) III-33
(u) (v) (w) (t) (x) (i) (ii) (s) (iii) (t) (iv) (v) (p) (vi) III-34
(k) (y) [][] (z) (aa) III-35
(bb) (i) (ii) (iii) (iv) (cc) 1. 2. 3. III-36
4. (a) (i) 2 (ii) 2 (iii) 2[] (iv) (v) 5. 6. III-37