2 4 6 8 10 30 32 36 45 80 93 95 97 99 101 104

HKICPA, CA, CFA HKICPA, FCCA, CFA 2015 2

183 22 Cricket Square Hutchins Drive P.O. Box 2681 Grand Cayman KY1-1111 Cayman Islands 25 20 2001-05 11 www.nd.com.cn 777 3 2015

00777.HK 2000 2015 2015 4,000 17173.com 91 2013 91 20151,272.2 32.1% 2015 165 2003 11180 6,500 Promethean 150 1302003,000 2015 4

2016 VRVR VR VR VR http://www.nd.com.cn 5 2015

760,974 1,108,349 1,492,706 962,817 1,272,197 (75,032) (116,359) (159,638) (102,844) (314,161) 685,942 991,990 1,333,068 859,973 958,036 38,156 50,025 51,956 157,101 187,927 (140,340) (152,173) (167,804) (152,495) (206,778) (210,941) (247,628) (441,132) (326,934) (520,104) (159,269) (204,173) (220,730) (249,260) (446,229) (11,594) (27,153) (25,225) (34,027) (24,092) (581) (1,456) (953) (2,354) (9,912) (1,391) 796 201,373 408,041 529,976 252,004 (61,152) 4,849 4,883 2,794 6,018 11,909 5,726 (5,081) (15,504) (17,792) (282,424) 27,223 6,817 (2,914) 5,761 876 (61) 8,756 (17,304) (9,144) 5,811,963 (3,806) (28,417) (15,526) (3,212) (5,431) 179,775 113,897 6,378,762 236,018 (87,251) (44,532) (74,936) (156,314) (64,197) (100,675) 135,243 38,961 6,222,448 171,821 (187,926) 2015 6

135,161 39,176 6,140,776 176,681 (142,979) 82 (215) 81,672 (4,860) (44,947) 135,243 38,961 6,222,448 171,821 (187,926) 25.85 7.71 1,213.44 34.77 (28.85) 25.85 7.60 1,181.10 34.22 (28.85) 340,833 562,833 846,894 1,470,787 3,115,949 1,555,987 1,882,520 4,603,095 3,759,600 2,386,149 (171,607) (516,085) (1,399) (164,743) (226,319) (513,265) (827,111) (611,585) (1,033,718) 458 (22,154) (7,736) (50,489) (9,791) 1,499,352 1,393,849 4,615,142 4,566,914 4,293,846 7 2015

12.72 32.1% 1.88 2015 11.5%9.8519.5%1.32 2015 MOBA 3D 2015 2016 2015 5,250A 4.775 K-12 14 400 5,000 2015 Promethean 150130 2003,000 2015 8

2015 VR IM 2015 2016 DNA 2016VR 2016 9 2015

(1) + 4G 2015 5.34 3.3% 1,407.0 22.9% 1 611.60.4% 1 219.68.3% 1 514.687.2% 2 4.55 27.1% 2 2015 59.7 48.5%1.96 120.2% 2 MOBA 2015 10

PC 2015 53.1 72.4% 1 2016 2025 VR AR 2015 2015 1,7002016 2,260 3 2015 12 31 1.10 16.0% 4 20% 5 K12 K12 2014 2014 K12 1.80 K12 11 2015

10 1 1 O2O + VR 1. CNG IDC, 2015 pp. 1,2 2. (GPC) CNG 2015 http://cdn.cgigc.com.cn/report/2015/report_2015_mobile_game.pdf pp. 6,10 3. 2015-2016pp. 7 4. (CNNIC) 37https://cnnic.cn/ gywm/xwzx/rdxw/2015/201601/w020160122639198410766.pdf pp.3 5. 2015pp.16 2015 12

(2) 752,000 761,000 708,000 703,000 642,000 317,000 360,000 318,000 309,000 301,000 Online 752,000 1.2% 17.1% 317,000 11.9% 5.3% 13 2015

(3) 1,272,200,000 32.1% 985,400,000 11.5% 242,800,000 639.4% 958,000,000 11.4% 357,000,000 17.7% 22,500,000 1,880,700,000 Promethean600,000 24.86 500,600,000 93.0% 77.0% 283,200,000 18.5% 18.6% 209,800,000 Promethean 312,400,000 45.0% 26.7% 187,300,000 333.9% 8,200,000 Promethean 1,200,000 17.9 2015 14

(4) 1,272,197 962,817 (314,161) (102,844) 958,036 859,973 187,927 157,101 (206,778) (152,495) (520,104) (326,934) (446,229) (249,260) (24,092) (34,027) (9,912) (2,354) (61,152) 252,004 6,018 2,794 (15,504) (5,081) (2,914) 6,817 876 (9,144) (17,304) (5,431) (3,212) (87,251) 236,018 (100,675) (64,197) (187,926) 171,821 (142,979) 176,681 (44,947) (4,860) (187,926) 171,821 (123,204) 220,514 (22,529) 284,711 607 284,711 15 2015

500,560 259,412 282,880 (188,159) (44,031) (36,342) 312,401 215,381 246,538 87,443 43,951 32,464 (93,982) (42,663) (51,206) (161,490) (133,516) (120,876) (154,726) (107,472) (89,278) (12,080) (3,270) (11,977) (1,423) (3,177) (1,715) (23,857) (30,766) 3,950 1,171 1,657 475 (5,623) (10,527) (16,322) 13,408 (525) 3,922 (2,334) (16,905) (2,940) (851) (235) (43,649) (29,938) (12,715) (80,609) (8,072) (9,442) (124,258) (38,010) (22,157) (98,075) (26,530) (19,406) (26,183) (11,480) (2,751) (124,258) (38,010) (22,157) 2015 16

985,427 242,801 883,483 32,838 11.5% 639.4% 899,758 58,933 815,459 3,400 10.3% 1,633.3% 357,046 (274,100) 303,338 (40,370) 17.7% 579.0% (293,663) (148,447) (236,084) (13,176) 24.4% 1,026.6% (135,034) (71,597) (143,024) (9,339) -5.6% 666.6% (379,129) (102,517) (281,607) (21,643) 34.6% 373.7% 283,245 209,826 238,855 9,458 18.6% 2,118.5% 264,162 49,474 215,654 211 22.5% 23,347.4% 187,344 (159,947) 43,177 (25,000) 333.9% 539.8% (76,341) (74,266) (80,805) (8,473) -5.5% 776.5% (36,072) (57,776) (46,200) (4,926) -21.9% 1,072.9% (103,281) (47,778) (95,842) (7,819) 7.8% 511.1% 1,272,200,000 962,800,00032.1% 500,600,000 93.0% 77.0% 17 2015

(i)(ii) (iii) Promethean 985,400,000 883,500,000 11.5% 853,853 86.6 773,369 87.5 131,574 13.4 110,114 12.5 985,427 100.0 883,483 100.0 853,800,000 10.4%MOBA 131,600,000 19.5% 242,800,000 32,800,000639.4% 2015 18

83,922 34.6 32,838 100.0 158,879 65.4 242,801 100.0 32,838 100.0 83,900,000 155.6% 158,900,000 Promethean 958,000,000 860,000,00011.4% 312,400,000 45.0% 26.7% 899,800,000 815,500,000 10.3% 58,900,000 3,400,0001,633.3% (i) Promethean 40,900,000 (ii) 19 2015

446,200,000 249,300,00079.0% 154,700,000 44.0% 73.3% 293,700,000 236,100,00024.4% 148,400,000 13,200,0001,026.6% 206,800,000 152,500,00035.6% 94,000,000120.3% 83.5% 135,000,000 143,000,0005.6% 21.9% 2015 20

71,600,000 9,300,000666.6% Promethean 43,700,000. 520,100,000 326,900,00059.1% 161,500,000 21.0% 33.6% 379,100,000 281,600,00034.6% (i) (ii) 102,500,000 21,600,000373.7% (i)(ii) Promethean(iii)Promethean (iv) Promethean 28,800,000 753.7% 80,600,000 91 56.8% 100,700,000 21 2015

(5) (22,529) 284,711 (8,171) (23,526) 13,540 (123,204) 220,514 (88,780) (31,598) 4,098 (83,012) 225,374 (67,903) (19,723) 6,849 2015 22

(6) Promethean World Limited Promethean VR VR VR VR VR 14 4005,000 VR Promethean 150130 2003,000 20% MOBA 11.59.854 18.518.62.832 MOBA 23 2015

3,160 MOBA 25.8% 3D PVE 2015 IP 101 VR VR VR 2015 24

VRVR 3D Promethean 100% 130,000,000 Promethean Promethean ClassFlow TM 14 4005,000 I 246.8 3.3 II 296.5 25 2015

III 600.1 345105 48.8 101.3 101.3 105 IV 8,000 536.2 V 199.0 2015 26

2014 2014 2012-2014 (7) 1,710,000,000 3,273,200,000 236,800,000 1,352,400,000 3,148,000,000 (8) 0.010.05 25,100,000 236,800,000 27 2015

(9) 4,303,600,000 4,617,400,000 (10) (11) 2015 28

(12) 12 29 2015

2015 30

31 2015

4,570 1,590 26%70% 17 128% 11 PDCA (Plan Do Check Action) 2015 32

9999 O2O 225 45 6,50099 8 20 200 8 795 GDA2.0 NDPMPGDA2.0 6 130 NDPMP 3 150 33 2015

O2O 100% 9999 99 8 193 7248 9999 worksheet 99 99 99 10 7 3 4.655.00 1882 2015 34

(P4) NDPMP 108 QA 42 Python 106 35 2015

44 851 851851 IT 91 NetDragon Websoft Inc. NetDragon (BVI) 2015 36

42 NetDragon(BVI) 200 2012 37 2015

47 20 851 43 10 2015 38

61 61 30 Upper Canada College Richard Ivey 1498 39 2015

53 IDG IDG Technology Venture Investment Inc. IDG Technology Venture Investment 13 50 (PricewaterhouseCoopers LLP) O2O 2015 40

50 (1) (2) (3) 43 Vision Capital Group Tom 41 2015

40 2013 10 15 7 40 46 Napier 15 45 (UEDC) (IDC) (BenQ) (BenQ) (Samsung Design China) (MFA) 18 2015 42

39 9191 91 10 34 2002 OL OL 2013 43 2015

37 2008 IT 15 DELL 38 9 10 2015 44

50 23 26 14 22 Zynga.com Electronic Arts IGG IncChangyou.com 45 2015

65 67 (i) (ii) (iii) 2015 46

47 2015

95 0.10 39,246,000 0.10 49,767,000 13 2015 48

38 49,767,000 78,865,000 106,843,000 419,154,000 14.4% 7.5% 37.6% 12.8% 5% 49 2015

2 3 5 1 4 5 8 1 3 6 7 1. 2. 3. 4. 5. 6. 7. 8. 36 41 2015 50

1% 87(1) 86(3) 51 2015

571 XV XV 7 8 352 10 1 2 254,053,257(L) 51.05% 3 9,984,860 (L) 98.86% 2 255,652,057(L) 51.37% 3 9,984,860 (L) 98.86% 2 254,053,257(L) 51.05% 3 9,984,860 (L) 98.86% 4 11,197,019(L) 2.25% 5 818,000(L) 0.16% 6 1,036,519(L) 0.21% 7 935,019(L) 0.19% 2015 52

1. L 2. DJM Holding Ltd. 95.36% DJM Holding Ltd. 38.39% 0.42% 1,798,800 197,019 85,200 5.67%26,541,819 1,684,000 DJM Holding Ltd. Fitter Property Inc. 4.64% 100.00% DJM Holding Ltd. Fitter Property Inc. 38.39% 3.82% Flowson Company Limited Flowson Company Limited Eagle World International Inc. 100.00% Eagle World International Inc. 2.80% 0.30% 1,411,800 85,200 DJM Holding Ltd. Fitter Property Inc. Eagle World International Inc. 51.03% 3. 96.05% 2.11% 0.70% 98.86% 4. 2.25% 71,000 11,040,819 85,200 5. 0.16% 579,500 238,500 6. 0.21% 718,519 318,000 7. 0.19% 117,019 818,000 53 2015

XV XV 7 8 352 46 2015 54

XV 2 3 336 10% 1 DJM Holding Ltd. 191,078,100(L) 38.39% 2 78,333,320(L) 15.74% Ho Chi Sing 2 78,333,320(L) 15.74% 2 73,490,095(L) 14.77% First Elite Group Limited 3 Jardine PTC Limited 3 26,463,011(L) 5.32% 26,463,011(L) 5.32% 1. L 2. IDG Technology Venture Investments, L.P. IDG - Accel China Growth Fund L.P. IDG - Accel China Growth Fund - A L.P. IDG - Accel China Investors L.P. 2.19% 10.45% 2.13% 0.97% a) IDG Technology Venture Investments, L.P. IDG Technology Venture Investments, LLC IDG Technology Venture Investments, LLCHo Chi Sing b) IDG - Accel China Growth Fund L.P. IDG - Accel China Growth Fund - A L.P. IDG - Accel China Growth Fund Associates L.P. IDG - Accel China Growth Fund Associates L.P. IDG - Accel China Growth Fund GP Associates Ltd. IDG - Accel China Growth Fund GP Associates Ltd. Ho Chi Sing 35.00% c) IDG - Accel China Investors L.P. IDG - Accel China Investor Associates Ltd.IDG - Accel China Investor Associates Ltd. Ho Chi Sing 3. First Elite Group Limited Jardine PTC Limited Jardine PTC Limited Richmedia Holdings Limited 55 2015

XV 2 3 336 10% (i) 96.05% (ii) 2.11% (iii) 0.70% (iv) 851 0.64% (v) 0.50% 2015 56

(i) (ii)15,000,000 57 2015

(1)(2) (3) 2015 58

59 2015

(a) (b) 2015 60

98.86% NetDragon Websoft Inc. NetDragon (BVI) NetDragon (USA) 14A (i) (ii) 15,000,000 (iii) 200,000,000 61 2015

70.7% 29.2% (a)(b) 2015 62

(i) (ii) 15,000,000 (iii)200,000,000 63 2015

(a) (b) 2015 64

NetDragon (BVI) 1. 2. 3. 4. 65 2015

5. 6. 7. 2015 66

67 2015

14A.76(2) 14A 1. 851 851 851 I III II 851 I II 6,816,000 8,375,000 851851 I I 2015 68

1. 851 851 851 851 7,269,744 9,210,000 2. 851 851 851 5,000,000 6,166,000 851851 851 851 7,000,000 8,860,000 69 2015

3. (i) (ii) 3,977,000 4,326,000 4,569,000 18,560,000 20,187,000 21,322,000 22,537,000 24,513,000 25,891,000 DJM Holding Ltd. Fitter Property Inc. Richmedia Holdings Limited Eagle World International Inc. Flowson Company Limietd (i) (ii) 2015 70

3. 3,724,729 4,097,202 4,506,923 17,382,071 19,120,278 21,032,305 21,106,800 23,217,480 25,539,228 (i) (ii) (iii) (iv) 71 2015

46 14A 3000 740 14A.56 14A.56 A IDG-Accel China Growth Fund L.P. IDG-Accel China Growth Fund-A L.P. IDG- Accel China Investors L.P. Vertex Asia Fund Pte. Ltd. Vertex Alpha Animation and Culture (Hong Kong) Limited Alpha Animation Catchy Holdings Limited NetDragon Websoft Inc. (BVI) DJM Holding Ltd. Creative Sky International LimitedA A A 0.2902180,914,513 A 52,500,000 409,500,000 2015 72

A A A 180,914,513 A DJM Holding Ltd. 38.39% 95.36% DJM Holding Ltd.15.74% 14A DJM Holding Ltd.A A A 78 A 10 73 2015

13.51B(1) 13.51B(1) 14 80 92 25,323,860 1,870,000 1,870,000 13.80 12.90 25,323,860 2015 74

4.60 156,200 71,000 85,200 4.33 1,400,000 1,400,000 4.60 284,000 284,000 4.60 156,200 71,000 85,200 4.60 156,200 71,000 85,200 4.60 200,000 200,000 0 5.74 300,000 300,000 0 15.72 318,000 79,500 238,500 4.60 200,000 200,000 0 5.74 200,000 200,000 0 15.72 318,000 318,000 4.60 200,000 200,000 5.74 300,000 300,000 15.72 318,000 318,000 4.33 80,000 80,000 0 4.80 5,562,594 2,394,715 327,150 2,840,729 4.60 277,238 144,563 17,100 115,575 5.74 1,171,217 308,205 100,150 762,862 6.53 473,238 110,000 363,238 7.20 53,250 3,000 50,250 11.164 575,350 112,775 35,625 426,950 14.66 556,000 556,000 27.75 251,000 37,000 214,000 13,255,487 251,000 4,382,758 480,025 8,643,704 1. 251,000 27.75 2. 1,192,500 75 2015

39 10% 475,451 5.07 (i) (ii) 237,725 118,212 5.07 952,203 (317,400) 634,803 634,803 5.07 2015 76

IDG Investor Vertex Alpha IDG Investor Vertex Alpha (10%) IDG Investor Vertex Alpha (i) (ii) 77 2015

A IDG-Accel China Growth Fund L.P. IDG-Accel China Growth Fund-A L.P. IDG- Accel China Investors L.P. Vertex Asia Fund Pte. Ltd. Vertex Alpha Animation and Culture (Hong Kong) Limited Alpha Animation Catchy Holdings Limited NetDragon Websoft Inc. (BVI) DJM Holding Ltd. Creative Sky International LimitedA A A 0.2902180,914,513 A 52,500,000 409,500,000A 100%A 12.22% A A A IDG Investor Vertex Alpha Animation A A A A 2015 78

A (i) (ii) 15,000,000 (iii) 200,000,000 A A 180,914,513 A A A 86.15% 77.96% 79 2015

14 10 36 44 2015 80

(i) (ii) (ii) (iv) (v) * 4/4 0/1 4/4 0/1 4/4 0/1 4/4 0/1 1/1 1/1 3/4 0/1 2/4 4/4 1/1 2/2 0/1 4/4 4/4 1/1 2/2 1/1 4/4 4/4 1/1 2/2 1/1 * 81 2015

E.1.2 3.10 3.13 2015 82

98.86% NetDragon (BVI) NetDragon (USA) 56 60 61 65 851 851 851 DJM Holding Ltd. 12.63% 87.37% 851 DJM Holding Ltd. Fitter Property Inc. Richmedia Holdings Limited Eagle World International Inc. Flowson Company Limited 83 2015

A 52,500,000 409,500,000 180,914,513 A A DJM Holding Ltd. 2,987,605 A DJM Holding Ltd. 95.36% DJM Holding Ltd. 68 72 2015 84

85 2015

2015 86

87 2015

2015 88

A.6.5 89 2015

2,206 5,958 8,164 93 94 15 2015 90

58 (2) (21) 88 (7) (7) 91 2015

18322 (852) 2850 7066 2520 2001-05 11 21.45 9,843,900,000 497,674,020 39% 1835 2015 92

95 204 93 2015

2015 94

5 1,272,197 962,817 (314,161) (102,844) 958,036 859,973 5 187,927 157,101 (206,778) (152,495) (520,104) (326,934) (446,229) (249,260) (24,092) (34,027) (9,912) (2,354) (61,152) 252,004 6,018 2,794 (15,504) (5,081) (2,914) 6,817 876 (9,144) (17,304) 6 (5,431) (3,212) (87,251) 236,018 8 (100,675) (64,197) 9 (187,926) 171,821 21,776 12,208 (40) (153,942) 171,781 95 2015

(142,979) 176,681 (44,947) (4,860) (187,926) 171,821 (109,872) 176,641 (44,070) (4,860) (153,942) 171,781 12 (28.85) 34.77 (28.85) 34.22 2015 96

13 1,246,117 822,704 14 438,677 378,673 15 55,377 16 953,950 141,254 17 18,883 28,795 18 5,000 5,000 19 23,081 18,327 23 18,112 18,302 35,967 20 334,839 40,013 22 3,611 54 3,115,949 1,470,787 25 117,584 14 2,733 2,708 19 3,397 1,578 23 234,733 51,072 24 4,339 7,252 26 115,918 210,098 27 1,704 1,704 28 11,204 367 11,159 29 170,640 211,584 30 236,805 30 583,091 1,999,644 30 1,126,957 1,036,788 2,383,459 3,759,600 31 2,690 2,386,149 3,759,600 97 2015

32 507,592 209,214 24 993 424 33 29,373 85,039 25,595 34 2,254 1,891 34 9,632 8 36 278,499 35 25,142 236,805 95,194 137,648 1,033,718 611,585 1,352,431 3,148,015 4,468,380 4,618,802 37 12,723 1,283 33 2,027 22 149,993 116 164,743 1,399 4,303,637 4,617,403 38 36,726 36,943 4,257,120 4,529,971 4,293,846 4,566,914 9,791 50,489 4,303,637 4,617,403 95 204 2015 98

a b c d e 37,664 1,036,480 4,139 10,045 202,885 79,977 673 (5,780) 29,777 (59,309) 3,278,591 4,615,142 7,736 4,622,878 176,681 176,681 (4,860) 171,821 (40) (40) (40) (40) 176,681 176,641 (4,860) 171,781 (1,084) (152,308) 1,084 (1,084) (153,392) (153,392) 201 18,083 (5,820) 12,464 12,464 162 28,031 28,193 28,193 10,718 10,718 10,718 (3,990) (3,990) 90,300 90,300 38,755 38,755 (38,755) (79,977) (353) (80,330) (80,330) (81,277) (81,277) (81,277) 78,865 (78,865) 58 58 1,445 (2,803) 1,358 50,814 (50,814) (721) (106,194) 1,084 38,755 50,814 (1,112) 1,445 2,095 (211,035) (224,869) 47,613 (177,256) 36,943 930,286 5,223 38,755 10,045 253,699 78,865 673 (4,335) 31,872 (59,349) 3,244,237 4,566,914 50,489 4,617,403 (142,979) (142,979) (44,947) (187,926) 21,776 11,331 33,107 877 33,984 21,776 11,331 (142,979) (109,872) (44,070) (153,942) (486) (70,095) 486 (486) (70,581) (70,581) 269 27,149 (8,268) 19,150 19,150 1,211 1,211 5,167 5,167 5,167 1,082 (2,178) 1,096 3,353 3,353 824 824 (824) (239) (239) (115) (115) (113) (228) (10) (69) 69 (10) (16) (26) (78,865) 480 (78,385) (78,385) (39,246) (39,246) (39,246) 49,767 (49,767) 7,084 (7,084) (217) (42,946) 486 709 (10) 7,015 (29,098) 1,082 (5,279) (94,938) (163,196) 3,372 (159,824) 36,726 887,340 5,709 39,464 10,035 260,714 49,767 22,449 (3,253) 26,593 (48,018) 3,006,320 4,293,846 9,791 4,303,637 99 2015

a. b. c. d. e. 2015 100

(187,926) 171,821 100,675 64,197 1,911 4,509 4 5,633 35,437 7,448 113,678 70,002 5,431 3,212 (876) 3,353 47 (98) (59) 667 667 (70,017) (96,257) 2,914 (6,817) 9,144 17,304 2,812 2,308 11,337 26,179 9,912 2,354 38,456 272,403 (6,255) (18,925) (14,538) 2,913 (7,252) 17,784 (59,633) 9,127 (10,837) (367) 2,884 30,700 569 424 (2,291) (1,026) (5,304) 363 (3,819) 9,624 8 28,981 226,027 (2,734) (4,289) (154,563) (469,566) (128,316) (247,828) 101 2015

95,255 64,141 40 (880,985) (116,183) (28,992) (228) (208,153) 2,029 388 47 (2,213) 65,396 32,676 (17,464) (32,817) (1,400,760) (2,421,255) (236,805) 2,838,633 3,486,902 247,622 112,362 (9,684) (6,348) 3,452 3,222 (38,202) (195,287) (507,379) (330,744) (22,804) (4,097) 407,557 84,121 90,300 (26) (4,848) 260,359 19,150 12,464 (117,631) (161,607) (239) 236,805 (285,838) (114,430) (70,581) (153,392) (194,806) (94,708) 2015 102

84,435 (258,415) 1,036,788 1,304,355 5,734 (9,152) 1,126,957 1,036,788 103 2015

1. Cricket Square, Hutchins Drive, P.O. Box 2681, Grand Cayman KY1-1111, Cayman Islands 25 20 2001-05 11 (i) (ii) (iii) 2. 19 2015 104

2. 9 1 15 1 11 2 1 2 16 38 16 41 2 2 27 2 10 28 10 12 28 3 2 2 1 2 3 9 9 9 9 (a) (b) 105 2015

2. 9 9 39 9 9 39 39 9 39 39 2015 106

2. 9 9 43 15 15 15 18 11 15 15 15 15 15 15 107 2015

3. 622 2 17 2 36 2015 108

3. 109 2015

3. (i) (ii) 39 2015 110

3. 39 36 36 111 2015

3. 12 19 2 5 2015 112

3. 113 2015

3. 2015 114

3. 115 2015

3. 2015 116

3. 16 117 2015

3. 2015 118

3. 119 2015

3. 2015 120

3. 29 121 2015

3. 2015 122

3. 123 2015

3. 39 ( ) 43 2015 124

3. 125 2015

3. 2015 126

3. 127 2015

3. 2015 128

3. 129 2015

3. 4. 3 2015 130

4. 898,846,000 771,247,000 701,704,000 531,830,000 656,368,000 534,278,000 131 2015

4. 334,839,000 21 43 2015 132

5. 985,427 883,483 242,801 32,838 43,969 46,496 1,272,197 962,817 64,480 25,262 63,999 93,463 32,986 15,417 98 59 11,618 11,246 1,739 2,598 524 346 4,703 11,900 4,590 187,927 157,101 133 2015

6. 4,646 3,212 785 5,431 3,212 7. (i)(ii) (iii) 985,427 242,801 43,969 1,272,197 357,046 (274,100) (26,370) 56,576 82,922 (217,605) (9,144) (87,251) 2015 134

7. 883,483 32,838 46,496 962,817 303,338 (40,370) 27,529 290,497 104,655 (141,830) (17,304) 236,018 2,699,063 3,383,304 1,841,183 673,972 165,992 207,808 4,706,238 4,265,084 795,860 965,303 5,502,098 5,230,387 135 2015

7. 941,874 816,161 194,259 91,267 41,798 37,770 9,248 8,276 10,997 65,745 17,619 1,272,197 962,817 1,794,131 1,228,275 1,051,693 227,695 219,065 10,335 58 372 27 4 8 3,084,257 1,447,406 10% 2015 136

8. 6,247 6,988 (322) 4,521 5,925 11,509 20,957 54,794 525 75,325 (2,343) 96,807 52,451 223 172 189 65 (2,469) (2,280) 65 100,675 64,197 16.5% 137 2015

8. 10% 10% 15% 15% 25% 10% 39% 39%8.84% 8.84% 40 20% 2015 138

8. (87,251) 236,018 25% 25% a (21,813) 59,005 2,478 588 (25,597) (23,075) 29,109 90,973 10,246 (567) (2,899) (56) 59,257 22,342 (236) (2,783) 191 b (7,644) (6,220) (17,955) (78,177) c 75,003 2,178 535 (11) 100,675 64,197 a. 25% b. 15% c. 91 91 91 74,944,000 22 139 2015

9. 7,724 7,759 655,867 383,897 69,275 34,624 8,254 19,842 741,120 446,122 2,206 1,532 5,958 1,878 8,164 3,410 35,437 7,448 2,812 2,308 113,678 70,002 151,927 79,758 145,707 87,866 83,601 17,233 4 5,633 1,911 4,509 47,709 15,358 52,815 39,859 667 667 3,353 (17,482) (10,336) 2015 140

10. 611 259 870 a 620 26 259 905 267 27 42 336 566 24 259 849 b 1,995 3 1,998 436 486 922 436 486 922 436 486 922 1,308 4,059 80 2,277 7,724 141 2015

10. 590 464 1,054 a 591 21 464 1,076 152 19 70 241 590 20 464 1,074 403 1,035 1,438 403 1,035 1,438 403 1,035 1,438 1,209 1,923 60 4,567 7,759 a. b. 2015 142

10. 12,529 6,365 120 98 2,733 10,703 15,382 17,166 2,500,001 3,000,000 1 1 3,500,001 4,000,000 2 1 4,000,001 4,500,000 1 2 5,000,001 5,500,000 1 6,500,001 7,000,000 1 5 5 143 2015

11. 0.10 0.20 39,246 81,277 0.20 0.20 78,385 80,330 117,631 161,607 0.10 0.20 49,767,000 78,865,000 12. (142,979) 176,681 2015 144

12. 495,540 508,158 8,096 495,540 516,254 13. 23,130 120,127 241,403 23,563 351,650 759,873 (43) (7) (47) (97) 2,287 87,499 98,726 14,569 141,282 344,363 186 2,383 2,569 356,612 21,356 (377,968) (579) (11,626) (379) (12,584) 15 15,882 15,882 397,868 228,582 330,839 37,753 114,964 1,110,006 1,110 562 (753) 14 (19) 914 23 84,097 69,376 6,067 358,306 517,869 23,459 10,810 205,065 854 1,573 241,761 39,158 188 (39,346) (18,433) (4,447) (22,880) 15 (35,787) (35,787) 425,831 324,239 586,094 40,241 435,478 1,811,883 145 2015

13. 3,274 47,240 166,910 9,765 227,189 4 2 (42) (36) 4,984 17,082 42,246 5,690 70,002 98 1,578 1,676 (511) (10,696) (322) (11,529) 8,262 63,911 199,996 15,133 287,302 (57) 203 (826) 14 (666) 19,574 24,458 61,996 7,650 113,678 14,458 6,827 167,071 588 188,944 (17,071) (3,113) (20,184) 15 (3,308) (3,308) 38,929 95,399 411,166 20,272 565,766 386,902 228,840 174,928 19,969 435,478 1,246,117 389,606 164,671 130,843 22,620 114,964 822,704 20 4% 4.74% - 33.33% 19% - 31.67% 19% - 31.67% 2015 146

13. 31,860 8,747 378,155 357,746 386,902 389,606 14. 2,733 2,708 438,677 378,673 441,410 381,381 315,430,000 253,800,000 147 2015

15. 15,725 157 13 (15,882) 1,122 54,255 55,377 32,479,000 54,255,000 15,882,000 2015 148

16. c a a b b 20,189 6,700 26,889 61 61 883 3,214 4,097 40 3,595 5,245 61,031 74,736 144,607 24,728 5,245 61,031 74,736 9,914 175,654 1,218 (1,291) (73) 20,929 7,536 28,465 40 277,551 80,948 332,359 107,435 23,127 821,420 (21,432) (21,432) 282,065 26,174 61,031 155,684 332,359 113,680 33,041 1,004,034 20,189 6,700 26,889 63 63 427 579 3,030 3,338 74 7,448 20,679 579 3,030 3,338 6,774 34,400 1,211 468 1,679 775 5,225 6,783 9,724 6,420 2,904 3,606 35,437 (21,432) (21,432) 1,233 5,804 9,813 13,062 6,420 3,372 10,380 50,084 280,832 20,370 51,218 142,622 325,939 110,308 22,661 953,950 4,049 4,666 58,001 71,398 3,140 141,254 149 2015

16. a. b. Promethean World Limited Promethean World Plc Promethean c. Promethean2 202 20 21 10% - 57.14% 20% 11.11% 10% 10% 33.33% 10% - 50% 2015 150

17. 31,572 31,572 (12,689) (2,777) (858) 858 18,883 28,795 a 42.9% 42.9% 3,500,000 101 Education Technology Co. Ltd. 49.0% 49.0% 8,000,000 (101 Cayman) b 101 Education Technology Co. Ltd. 49.0% 49.0% 8,000,000 (101 BVI) b 101 Education Technology (Hong Kong) Co. Ltd. 49.0% (101 HK) b 49.0% 8,000,000 ( ) b 49.0% 49.0% 8,000,000 49.0% 49.0% 10,000,000 ( ) b 151 2015

17. a. 2,500,000 1,359,000 1,141,000 b. 101 Cayman 101 BVI 101 HK 49% 440 967 5 21 31 67 83 371 (506) (1,603) 414 921 42.9% 42.9% 1,141 1,141 (67) (67) 1,252 1,469 2015 152

17. 35,278 47,029 393 57 1,456 579 1,541 (12,291) (2,661) 34,215 46,507 49.0% 49.0% 16,765 22,788 153 2015

17. 14,211 9,291 836 101 13,280 131 13,305 (7,494) (739) 1,767 9,261 49.0% 49.0% 866 4,538 2015 154

18. 851 a 4,000 4,000 b 1,000 1,000 5,000 5,000 a. 851 9.5% b. 1,000,000 10% 19. 20,655 14,320 5,823 5,585 26,478 19,905 3,397 1,578 23,081 18,327 26,478 19,905 155 2015

19. 3.33%-5.54% 4.20%-6.00% 2.15% 2.15% 20,655,000 11,454,000 20. 40,013 12,534 40 294,826 27,479 334,839 40,013 21 2015 156

21. 20 16 1 12,534 12,534 2 31,097 3 263,729 277,137 307,360 12,534 277,137 4 27,479 27,479 334,839 40,013 277,137 14.58% 6.75% 17.35% 14.28% 16.59% 12.34% 1.6% 3.0% 157 2015

22. 3,611 54 (149,993) (116) (146,382) (62) 54 54 (65) (65) 40 (51) (51) (116) 54 (62) (26) (54) 2,469 (109) 2,280 40 527 (152,312) 82 2,032 1,095 (148,576) (8) (6) (1) 4 (13) (24) (150) 521 (149,843) 81 1,927 1,082 (146,382) 1,410,929,000 1,253,694,000 1,410,929,000 1,253,694,000 345,957,000 108,926,000 345,957,000 108,926,000 2015 158

23. 30 90 0 30 126,351 31,946 31 60 63,674 7,147 61 90 19,197 7,117 90 13,681 4,862 11,830 18,112 252,845 51,072 32,466,000 8,523,000 159 2015

23. 31 60 12,301 2,023 61 90 6,808 6,010 90 13,357 490 32,466 8,523 7,664 3,025 1,911 4,509 4,447 139 578 (9) 14,600 7,664 14,600,000 7,664,000 2015 160

24. 11,865 10,605 (8,519) (3,777) 3,346 6,828 4,339 7,252 (993) (424) 3,346 6,828 25. 1,501 1,325 114,758 117,584 26. 72,643,000 32,012,000 14,825,000 12,661,000 45,345,000 61,190,00091 10,000,000 50,404,0004,700,000 50,404,000 161 2015

27. 622 383 851 851a 1,704 1,704 2,916 3,041 b 2,414 1,704 1,704 a. 851 DJM Holding Ltd. 100% b. 28. 2015 162

29. 170,640 162,317 49,267 170,640 211,584 30. 0.001% 4.1% 0.001% 3.7% 35 42,260 300,086 34,532 17,217 621,472 964,762 1,294 880 2,643 163 2015

31. 2,690 32. 198,132 8,638 133,786 86,769 30,442 24,573 a 15,430 8,846 b 129,802 80,388 507,592 209,214 a. 91 91 9191 91 13.1680.371 800,000 5,700,000 b. 2015 164

32. 0 90 137,998 5,875 91 180 57,186 2,096 181 365 2,297 158 365 651 509 198,132 8,638 33. a b c 40 26,575 8,402 2,218 37,195 1,341 1,341 (1,751) (4,880) (14) (6,645) (323) (141) (27) (491) 25,842 3,381 2,177 31,400 165 2015

33. 2,027 29,373 31,400 a. Promethean b. Promethean c. PrometheanPromethean 34. 35. 30200 250 0.8% 2015 166

36. IDG- Accel China Growth Fund-L.P. IDG-Accel China Growth Fund-A L.P. IDG-Accel China Investors L.P. Vertex Asia Fund Pte. Ltd. Alpha Animation and Culture (Hong Kong) Company Limited Catchy Holdings Limited DJM Holding Ltd. Creative Sky International Limited BVI A 180,914,5130.001 A 52,500,000321,762,000 A A A 1:1 1,000,000,000100,000,000A A A 167 2015

36. A A A 300% A A A A 260,474 2,521 15,504 278,499 37. 40 91 1,610,000 2,385,000 1,283,000 2015 168

38. 0.01 1,000,000,000 10,000,000 75,771 0.01 508,609,711 5,086,097 37,664 i 3,257,847 32,579 201 ii (14,632,500) (146,325) (1,084) iii 2,626,204 26,262 162 499,861,262 4,998,613 36,943 i 4,382,758 43,827 269 ii (6,570,000) (65,700) (486) 497,674,020 4,976,740 36,726 (i) 4,382,7584,382,758 3,257,847269,000 201,000 27,149,000 18,083,000 (ii) 6,570,000 14,632,500 70,581,000 153,392,000 (iii) 2,626,204 162,000 28,031,000 169 2015

39. (i) 8,643,704 13,255,4871.74% 2.65% 29,320,165 5.95% 10% 30%12 1% 12 1% 12 0.1% 5,000,000 2015 170

39. (i) 1 28 10 (i) (ii) (iii) 280,000 280,000 280,000 280,000 280,000 1,400,000 1,717 9,752 39,528 222,032 2,567,700 2,840,729 171 2015

39. (i) 28,400 42,600 2,501 256,800 33,300 71,000 10,999 340,800 68,775 855,175 6,417 116,920 230,575 322,250 386,700 1,062,862 2015 172

39. (i) 4,226 25,575 151,562 181,875 363,238 4,200 6,300 8,400 14,250 17,100 50,250 173 2015

39. (i) 6,350 15,975 107,900 134,875 161,850 426,950 159,000 238,500 477,000 874,500 139,000 139,000 139,000 139,000 556,000 2015 174

39. (i) 21,400 32,100 42,800 53,500 64,200 214,000 4.33 1,480,000 (80,000) 1,400,000 4.80 5,562,594 (2,394,715) (327,150) 2,840,729 4.60 1,629,838 (757,563) (17,100) 855,175 5.74 1,971,217 (808,205) (100,150) 1,062,862 6.53 473,238 (110,000) 363,238 7.20 53,250 (3,000) 50,250 11.16 575,350 (112,775) (35,625) 426,950 15.72 954,000 (79,500) 874,500 14.66 556,000 556,000 27.75 251,000 (37,000) 214,000 13,255,487 251,000 (4,382,758) (480,025) 8,643,704 3,101,467 6.41 7.53 175 2015

39. (i) 4.33 2,200,000 (720,000) 1,480,000 4.80 8,016,784 (1,695,835) (758,355) 5,562,594 4.60 2,127,463 (469,850) (27,775) 1,629,838 5.74 2,501,667 (269,900) (260,550) 1,971,217 6.53 588,075 (79,962) (34,875) 473,238 7.20 83,000 (2,250) (27,500) 53,250 11.16 700,000 (20,050) (104,600) 575,350 15.72 954,000 954,000 14.66 556,000 556,000 17,170,989 556,000 (3,257,847) (1,213,655) 13,255,487 3,258,913 5.79 6.41 2015 176

39. (i) 2,966,000 27.75 27.75 1.652% 55.79% 1.44% 5,034,000 7,068,000 9191 285,000 484,000 177 2015

39. (ii) 10% 1% 28 28 28 2015 178

39. (ii) 152,000 3,166,000 354,636 (118,212) 236,424 597,567 (119,513) (239,027) 239,027 952,203 (237,725) (239,027) 475,451 317,397 317,400 237,725 237,725 237,726 239,027 179 2015

39. (iii) NetDragon Websoft Inc. 6,114,500 91 1,528,625 1,528,625 1,528,6251,528,625 70,165,000 5,649,000 14,175,000 91 91 521,000 1,286,000 1,528,6251,528,625 1,528,625 1,528,625 2015 180

40. Promethean Promethean 100% 84,800,000820,000,000Promethean 50,903 763,745 3,736 111,329 184,908 19,699 400 9,563 10,877 2,723 (287,709) (61,735) (34,671) (63,358) (6,985) (2,524) (144,388) 556,513 181 2015

40. Promethean Promethean 820,242 (556,513) 263,729 Promethean 820,242 (10,877) 809,365 Promethean 44,455,000 Promethean 156,265,000 2,138,000,000 504,000,000 2015 182

40. 84,853,000 100% 9,591,159 1,914 57,675 433 503 2,380 (1,225) (7,924) 53,756 84,853 (53,756) 31,097 183 2015

40. 74,000 (2,380) 71,620 4,188,000 2,144,000 1,279,000,000 190,000,000 26,051,000 160,211,000100%13.3653 2,626,204 20% 2015 184

40. 893 139,362 4,404 1,698 6,267 6,015 (7,312) (6,170) (5,710) (68) (3,378) (3,218) (51) 132,732 185 2015

40. 160,211 (132,732) 27,479 110,785 (6,015) 6,170 110,940 19,054,000 46,656,000 982,000,000 164,000,000 5,250,000 Catch Investments Limited Just Me Co., LimitedCatch Group 70% Catch Group 51% 2015 186

40. 5,245 118 7 (3) 5,367 Catch Group 30% 49% Catch Group 5,250 58 (5,367) (59) 5,250 (7) 5,243 187 2015

40. 1,293,000 48,000 169,000,000 41. 167,871 167,871 415 50,821 953,055 1,297,356 54,880 36,403 1,008,350 1,384,580 31,270 29,981 37,445 26,681 68,715 56,662 1,107,506 1,495,789 36,726 36,943 1,070,780 1,458,846 1,107,506 1,495,789 2015 188

41. 1,458,846 1,252,406 (70,095) (152,308) (224,388) 469,343 5,167 10,718 18,881 12,263 28,031 (117,631) (161,607) 1,070,780 1,458,846 42. 189 2015

43. 2,045,554 3,524,371 170,640 211,584 5,000 5,000 526,901 424,628 278,499 2015 190

43. (i) 34,627 67,692 2,682 1,746 792,608 1,238,306 278,586 268,205 2,643 4,949 1,294 880 191 2015

43. (i) 5% 5% 5% 5% 5% (1,198) (2,473) (19,276) (36,379) 86 (49) (33) 5% 2015 192

43. (ii) 19 35 30 50 50 5050 94,000 1,184,000 193 2015

43. 2015 194

43. 195 2015

43. % 477,150 12,723 489,873 489,873 2,254 2,254 2,254 9,632 9,632 9,632 2.93 25,879 25,879 25,142 15.32 321,165 321,165 278,499 836,080 12,723 848,803 805,400 184,641 1,283 185,924 185,924 1,891 1,891 1,891 8 8 8 1.375 239,847 239,847 236,805 426,387 1,283 427,670 424,628 2015 196

43. 170,640 211,584 278,499 197 2015

44. 35 44,233 236,805 44,233 236,805 45. 5% 1,500 69,355,000 34,684,000 2015 198

46. 851 7,244 6,816 851 6,367 5,000 4,191 9,767 903 2,093 (34) (106) 1,541 13,186 1,000,000 4.48% 14,328 7,391 248 154 3,146 5,696 17,722 13,241 199 2015

47. 5,000,000 5,000 3,200 2,213 (511) 4,902 5,000 (4,902) 98 (2,213) 48. 234,394 439,715 2015 200

49. 69,068 31,139 130,480 70,491 9,837 7,850 209,385 109,480 5 2,598,000 524,000 4.7% 3.3% 1.33 1.5 4,445 57 2,442 52 6,887 109 201 2015

50. % % NetDragon Websoft Inc. 222,203.93 100 100 * 10,100,000.00 # 545,000,000.00 100 100 NetDragon Websoft Inc. 600,000.00 100 100 1.00 100 100 1.00 100 100 # 555,000,000.00 100 100 # 50,000,000.00 100 100 150,000.00 100 100 1,300,789.86 86.14 86.15 100,000,000.00 86.14 86.15 * 200,000,000.00 Promethean World Limited ^ 20,320,000.00 86.14 2015 202

50. * # ^ 203 2015

50. 15 13 2 15 24 1 4 3 2 1 1 6 2 2 1 1 1 52 42 2015 204