2100 2015
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2 22 181 27 www.baioo.com.hk 2100 36 10G
Codan Trust Company (Cayman) Limited Hutchins Drive Cricket Square P.O. Box 2681 Grand Cayman KY1-1111 Cayman Islands 183 22 Hutchins Drive Cricket Square P.O. Box 2681 Grand Cayman KY1-1111 Cayman Islands, British West Indies 183 54 13830 510620 1 15 26 Conyers Dill & Pearman (Cayman) Limited Hutchins Drive Cricket Square P.O. Box 2681 Grand Cayman KY1-1111 Cayman Islands (852) 2117 0861 (852) 2117 0869 Baioo@ChristensenIR.com 3
40% 24.2 48.1 100bt.com 10 Bumps to Babes LimitedBumps to Babes Bumps to Babes 74.9% Bumps to Babes Richard Ian Walker 7.5%Bumps to Babes 4
% 183,930 287,770 (36.1%) 110,087 208,390 (47.2%) 38,368 135,604 (71.7%) (1) 62,063 140,594 (55.9%) EBITDA (2) 50,768 160,508 (68.4%) (1) (2) EBITDA 365,463 19,654 1,396,598 1,664,139 1,762,061 1,683,793 1,506,627 1,509,674 14,806 3,305 240,628 170,814 255,434 174,119 1,762,061 1,683,793 5
36.1% IP Bumps to BabesBumps to Babes Bumps to Babes Bumps to Babes 6
Bumps to Babes Bumps to Babes 7
Baitian Technology Limited Baitian Information Limited 8
DAE Trust TMF (Cayman) Ltd. 9
46.92% 28.37% 12.9% 7.08% 4.73% VIE VIE VIE 10
Sequoia Capital China II, L.P. Sequoia Capital China Partners Fund II, L.P. Sequoia Capital China Principals Fund II, L.P. A Sequoia A 571 0.0000005 11
VIE The Zhen Family Trust TMF (Cayman) Ltd. WHZ Trust TMF (Cayman) Ltd. WSW Family Trust TMF (Cayman) Ltd. 12
48.1 100BT. com Bababaobei Trading Limited Bababaobei Commerce Limited74.9%Bababaobei Commerce Limited92.5% Bumps to Babes LimitedBumps to Babes Bumps to Babes 605.121.9%102.8 71.9% 12.0% 17 13
1.43 2 860 30% Bumps to Babes + Bumps to Babes Bumps to Babes 14
48.1 56.2 (14.4%) 2.4 3.3 (27.3%) 34.3 41.9 (18.1%) 48.1 14.4%PC 2.4 27.3%PC 34.318.1% 15
183,930 100.0 287,770 100.0 172,308 93.7 286,078 99.4 11,622 6.3 1,692 0.6 (73,843) (40.1) (79,380) (27.6) 110,087 59.9 208,390 72.4 (26,483) (14.5) (31,362) (10.9) (33,165) (18.0) (31,976) (11.1) (15,533) (8.4) (12,725) (4.4) 3,460 1.9 2 0.0 3,277 1.1 38,368 20.9 135,604 47.1 23,836 12.9 8,467 2.9 (327,749) (113.8) 62,204 33.8 (183,678) (63.8) (8,749) (4.7) (24,583) (8.5) 53,455 29.1 (208,261) (72.3) 53,455 29.1 (208,261) (72.3) (1) 62,063 33.7 140,594 48.9 EBITDA (2) 50,768 27.6 160,508 55.8 16
1. 2. EBITDA 183.9 287.8 36.1% 172.3 286.1 39.8% PC 11.6 1.7 582.4%Bumps to Babes 73.8 79.4 7.1% (i)427 407 8.1(ii)1.4(iii)Bumps to Babes 6.2 110.1 208.4 59.9% 72.4% PC Bumps to Babes 26.5 31.4 15.6% 17
33.2 32.0 3.8% 43 54 15.5 12.7 22.0%101 185 2,000 3.3 38.4 135.6 71.7% 20.9% 47.1% 23.8 8.5 27.2 (i) 26.6 (ii) 0.6 327.7 62.2 183.7 8.7 24.6 64.6% 18
53.5 208.3 EBITDA 62.1 140.6 55.8% EBITDA 50.8 160.5 68.3% EBITDA 53,455 (208,261) 8,608 21,106 327,749 62,063 140,594 3,792 3,798 (23,836) (8,467) 8,749 24,583 EBITDA 50,768 160,508 19
255,434 174,119 1,762,061 1,683,793 (3) 14% 10% (3) 347.8 259.4986.0 300.0 3.0% 2.9% 20
1,401,054 1,544,733 165 164 232,575 78,670 1,633,794 1,623,567 250,000 946,320 232.7 21
2.3 5.0 2,152 4,777 109 263 2,261 5,040 i)48,256,000 Bumps to Babes 74.9%ii) 4,000,000 20% 22
71494.7% 407 57.0 185 25.9 68 9.5 54 7.6 714 100.0 12.7 11.9 85.3 89.1 46.4% 31.0% 2,560,000 78,567,200 112,426,480 4.0% 111 95,780,000 23
0.0350.028 24
26 55 34 34 2410 34 25
6 183,930 287,770 (73,843) (79,380) 110,087 208,390 (26,483) (31,362) (33,165) (31,976) (15,533) (12,725) 3,460 2 3,277 8 38,368 135,604 27,207 8,604 (3,371) (137) (327,749) 62,204 (183,678) 9 (8,749) (24,583) 53,455 (208,261) 53,382 (208,261) 73 53,455 (208,261) 10 0.0198 (0.1003) 0.0195 (0.1003) 33 55 26
53,455 (208,261) 53,455 (208,261) 53,382 (208,261) 73 53,455 (208,261) 33 55 27
12 10,516 10,943 12 33,306 12 16,198 383 2,482 733 2,961 7,595 14 300,000 365,463 19,654 11,702 13 915 6,425 47,668 33,339 14 985,991 1,364,200 14 347,803 259,367 2,519 808 1,396,598 1,664,139 1,762,061 1,683,793 15 8 8 15 1,568,824 1,636,621 16 44,032 49,916 (123,489) (176,871) 1,489,375 1,509,674 17,252 1,506,627 1,509,674 28
3,462 3,305 17 2,601 7 8,743 14,806 3,305 18 8,158 1,945 19 101,574 36,778 69,462 73,664 1,810 1,810 59,253 56,617 121 250 240,628 170,814 255,434 174,119 1,762,061 1,683,793 1,155,970 1,493,325 1,521,433 1,512,979 33 55 29
5 25,734 (45,169) (19,430) (19,430) (208,261) (208,261) (208,261) (208,261) (208,261) (208,261) 15 2 1,120,079 1,120,081 1,120,081 1 682,263 682,264 682,264 16 70 70 70 16 21,036 21,036 21,036 11 (154,127) (154,127) (154,127) 3 1,648,215 21,106 1,669,324 1,669,324 8 1,648,215 46,840 (253,430) 1,441,633 1,441,633 30
8 1,636,621 49,916 (176,871) 1,509,674 1,509,674 53,382 53,382 73 53,455 53,382 53,382 73 53,455 15 67 67 67 16 97 (97) 16 8,608 8,608 8,608 16 6,454 (6,454) 7 17,823 17,823 11 (74,415) (74,415) (74,415) 7 (7,941) (7,941) (644) (8,585) (67,797) (5,884) (73,681) 17,179 (56,502) 8 1,568,824 44,032 (123,489) 1,489,375 17,252 1,506,627 33 55 31
35,017 185,958 645 8,596 (5,765) (22,297) 29,897 172,257 7 (35,522) 12 (2,261) (5,114) (300,000) (350,000) 678,209 (300,000) 18,248 (23,000) 58,674 (378,114) 24,683 (30,820) 15 67 (154) 1,204,331 (355) (79,426) (154,127) (288) 964,487 88,283 758,630 259,367 280,932 (97) 492 347,553 1,040,054 (250) 14 347,803 1,040,054 347,553 1,040,054 33 55 32
1 22 Hutchins Drive, Cricket Square, P.O. Box 2681, Grand Cayman KY1-1111, Cayman Islands, British West Indies Bababaobei Trading LimitedBTL Bumps to Babes LimitedBumps to BabesBumps to Babes 7 2 34 33
3 (i) 19 (ii) (iii) 34
3 (iv) 15 (v) (vi) 4 35
5 5.1 5.2 1 1 2 2 3 3 4 4 5 1,945 1,945 7,199 7,199 8,158 8,158 80,131 80,131 250 250 11,941 11,941 36
6 37
6 172,156 285,633 152 445 172,308 286,078 11,622 1,692 183,930 287,770 10% 10% 86.3% 94.6% 10% 43.4% 34.8% 28.9% 34.3% 14.0% 10.9% 14.6% 38
6 7 Bababaobei Commerce LimitedBCLBTL Bumps to Babes74.9%48,256,00044,920,000 35,442,000 Bumps to Babes7.5% 12,814,000 Bumps to Babes BCL 92.5% 7.5% BTLBumps to Babes 69.3% Bumps to Babes 33,306,000 Bumps to Babes 35,442 BCL (b) 12,814 48,256 39
7 117 981 15,938 11,401 614 (5,817) (448) (197) (2,630) 19,959 (b) (5,009) 33,306 48,256 1,739 35,442 (117) 197 35,522 40
7 (a) 15,938,000 2,630,000 (b) BTL 25.1% BCL 7.5% 17,823,000 (c) 10,439,000 305,000 20,226,000 701,000 (d) Bumps to Babes BCL BTL25.1% 8,585,000 41
8 85,262 89,142 22,725 25,486 9,504 9,860 6,864 4,071 6,212 3,901 7,207 12 3,792 3,798 2,090 3,448 9 4,055 23,177 89 4,605 1,406 8,749 24,583 42
9 (a) (b) 16.5% (c) 25% 15% 150% (d) 10% 10%5% 43
10 (a) 53,382 (208,261) 2,693,563,914 2,077,108,796 0.0198 (0.1003) (b) 44
10 (b) 53,382 53,382 2,693,563,914 3,412,650 46,142,340 2,743,118,904 0.0195 45
11 0.035a 77,577 (3,162) 74,415 b 154,127 74,415 154,127 (a) 0.0350.02898,373,000 77,577,000 (b) 25,000,000 154,127,000 (c) 46
12 10,943 383 7 981 15,938 33,306 2,152 109 (3,560) (232) 10,516 16,198 33,306 13,106 217 4,777 263 (3,755) (43) 14,128 437 13 915 6,425 915 6,425 47
13 90 120 0 30 405 1,776 31 60 47 98 61 90 148 64 91 180 210 4,487 1 105 915 6,425 14 a 300,000 b 985,991 1,364,200 c 347,803 259,367 1,633,794 1,623,567 d 1,633,706 1,623,525 48
14 (a) (b) (c) 3.0%2.9% (d) 49
15 2,810,662,000 2,808,546,000 114,577,600 119,935,600 2,808,546,000 1 8 1,636,621 1,636,629 2,116,000 67 67 97 97 6,454 6,454 (74,415) (74,415) 2,810,662,000 1 8 1,568,824 1,568,832 1,691,076,000 1 5 5 706,106,000 2 1,120,079 1,120,081 400,000,000 1 682,263 682,264 27,240,000 (154,127) (154,127) 2,824,422,000 1 8 1,648,215 1,648,223 50
15 (a) 2.15 706,106,000 1,120,081,000 1,411,926,000 (b) 400,000,000 A-1 11 (c) 367 384 5,358,000 51
16 a b 10,010 5,005 34,901 49,916 (97) (97) 8,608 8,608 (6,454) (6,454) 7(d) (7,941) (7,941) 2,069 5,005 36,958 44,032 10,010 5,005 10,719 25,734 70 70 21,036 21,036 10,010 5,005 31,825 46,840 52
16 (a) 7(d) (b) 10% 50% 25% (c) 10% 50% 17 7 2,630 (29) 2,601 53
18 0 30 5,954 1,693 31 60 1,410 1 61 180 783 2 181 365 5 249 1 2 6 8,158 1,945 19 11 74,415 20,535 27,250 2,365 1,049 2,974 5,274 908 2,329 377 876 101,574 36,778 54
20 16,789,000 11,008,000 7,003 7,131 97 75 134 118 9,555 3,684 16,789 11,008 21 22 a) 4,000,00020% b) 65,780,000 110 c) 30,000,000 55
2410 56
13.51B(1) Jumei International Holding Limited 13.51B(1) 10% 57
XV 352 (1)(8) 749,460,000(L) 26.66%(L) 10,000,000(L) 0.36%(L) (2) 447,112,000(L) 15.91%(L) (3) 203,304,000(L) 7.23%(L) (4) 74,544,000(L) 2.65%(L) (5) 200,000(L) 0.007%(L) (6) 200,000(L) 0.007%(L) (7) 200,000(L) 0.007%(L) (1) DAE Trust DAE Trust TMF (Cayman) Ltd. DAE Holding Investments Limited Stmoritz Investment Limited 58
(2) WHZ Trust WHZ Trust TMF (Cayman) Ltd. WHEZ Holding Ltd. Bright Stream Holding Limited (3) The Zhen Family Trust The Zhen Family Trust TMF (Cayman) Ltd. Golden Water Management Limited LNZ Holding Limited (4) WSW Family Trust WSW Family Trust TMF (Cayman) Ltd. Charlotte Holding Limited Angel Wang Holding Limited (5) 200,000200,000 60,000 200,000ZEA Holding LimitedZEA ZEA The Core Services Limited (6) 200,000200,000 60,000 200,000ZEA (7) 200,000200,000 60,000 200,000ZEA (8) 10,000,00010,000,000 2,000,000 10,000,000ZEA (9) L XV352 59
336 TMF (Cayman) Ltd. (1) 1,571,000,000(L) (6) 55.89%(L) DAE Holding Investments Limited (2) 749,460,000(L) 26.66%(L) Stmoritz Investment Limited (2) 749,460,000(L) 26.66%(L) (2)(5) 749,460,000(L) 26.66%(L) Bright Stream Holding Limited (3) 447,112,000(L) 15.91%(L) WHEZ Holding Ltd. (3) 447,112,000(L) 15.91%(L) (3) 447,112,000(L) 15.91%(L) LNZ Holding Limited (4) 203,304,000(L) 7.23%(L) Golden Water Management Limited (4) 203,304,000(L) 7.23%(L) (4) 203,304,000(L) 7.23%(L) 60
(1) TMF (Cayman) Ltd. DAE Trust WHZ Trust The Zhen Family Trust WSW Family Trust (2) Stmoritz Investment LimitedDAE Holding Investments LimitedDAE Trust TMF (Cayman) Ltd. XVDAE TrustDAE Holding Investments Limited TMF (Cayman) Ltd.Stmoritz Investment Limited 749,460,000 (3) Bright Stream Holding LimitedWHEZ Holding Ltd.WHZ Trust TMF (Cayman) Ltd. XVWHZ Trust WHEZ Holding Ltd. TMF (Cayman) Ltd.Bright Stream Holding Limited 447,112,000 (4) LNZ Holding LimitedGolden Water Management LimitedGolden Water Management Limited TMF (Cayman) Ltd. The Zhen Family TrustThe Zhen Family Trust XVThe Zhen Family TrustGolden Water Management Limited TMF (Cayman) Ltd. LNZ Holding Limited203,304,000 (5) 10,000,00010,000,000 2,000,000 10,000,000ZEA (6) L XV XV 61
2,560,000 0.09% Duoduo Holding Limited Duoduo Holding Limited 62
(1) (2) (3) 1,500,000 0.0045 1,500,000 1 2 1,500,000 1,500,000 2 924,000 17 1,700,000 2 552,000 0.0045 328,000 596,000 1 2 0.02% 0.0090 258,000 1,442,000 1 2 0.05% 0.0090 30,000 522,000 1 2 0.02% 3,176,000 616,000 2,560,000 0.09% 4,676,000 2,116,000 2,560,000 0.09% (1) 36 (2) 10 (3) I 10(d) 1A 17.02(1)(b) 27 63
78,567,200 2.79% Peto Holding Limited The Core Services LimitedZEA Holding Limited 111,716,00030,600,000 112,426,480 4.00% 111 95,780,000 Baiduo Investment Holding Limited Baiduo Investment Holding Limited 64
5,000,000 (1)(2) (3) (1) (a) 10,000,000 2,000,000 8,000,000 1 0.28% 200,000 60,000 140,000 2 0.01% 200,000 60,000 140,000 2 0.01% 200,000 60,000 140,000 2 0.01% 10,600,000 2,180,000 8,420,000 0.30% (b) 8,000,000 8,000,000 1 0.28% 10,000,000 2,000,000 8,000,000 1 0.28% 18,000,000 2,000,000 16,000,000 0.60% (c) 5,000,000 5,920,000 5,920,000 1 0.21% 5,920,000 5,920,000 0.21% (d) (1)(a) (b) (c) 5,000,000 218 66,131,200 15,192,000 50,939,200 1 1.8% 9 5,890,000 1,178,000 1,504,000 3,208,000 1 0.11% 72,021,200 1,178,000 16,696,000 54,147,200 1.93% 106,541,200 5,358,000 22,616,000 78,567,200 2.80% 2.80% (2) 65
(1) 20% 12 20% 24 30%36 30%48 (2) 30% 12 30% 24 40% 36 (3) 25% 1,392.0 66
46.92% 28.37% 12.90% 7.08% 4.73% 46.92% 28.37% 12.90% 7.08% 4.73% 67
505 173 733 778 1.6 1. 52 2. 68
1. 69
2. VIE VIE 3. 70
4. 5. 15.0% 15% 71
6. (i) (ii) VIE (iii)vie VIE 7. 72
8. 73
74