/ 2014 12 22 40% 20% 0% -20% Dec-13 Mar-14 Jun-14 Sep-14 300 S1060512010002 021-38632830 Yuxuhui@pingan.com.cn S1060513050003 0755-22622625 xuwen007@pingan.com.cn S1060114080032 0755-22628888-101020 wangqing944@pingan.com.cn 2015 O2O B2C 2015 2015 & B2CPC 15 B2C PC O2O B2C C2C IPO B2C C2C SKU 15 3-5 3 1 23 2015 2015 O2O 3D
2/20
3/20
14 0 4 1 /2) 314 15 O2O 15 O2O B2C 2015 + B2C PC 1H2014 5.8 PC PC 10 3 7.8 15 PC 3 O2O PC 1 GMV 2 PC PC 4/20
3Q2014 GMV 57% 33.40% 3 4 GMV PC/ PC PC 10% GMV 80% B2C 15 B2C PC PC GMV PC 5 2013 1.36 1 3/4G WIFI 24G NFCSIMpass RF-SIM APP// / 3 3 NFC // 5/20
BAT 5 O2O 6 O2O 1 APP ) 2 3 / 4 7 6/20
2015 PC PC B2C B2C B2C B2C B2C B2C 3C + B2C 7/20
2015 1 B2C 3 2012 3.7% 14 7.9%80 5000 9000 85% 8 9 40% 35% 30% 3C 300% 250% 3C 25% 200% 20% 15% 10% 5% 150% 100% 50% 0% 2 1 0 2 3 1 0 2 E 4 1 0 2 0% 1 0 2 2 1 0 2 3 1 0 2 1 0 2 4 H 1 CNNIC 10 100% 11 8/20
2 1 2 33C 50% 2013 3.5% 2011 1.8% B2C 11 14 11 4731 113% 57% Blue nilenet a porter Astley ClarkeAustique 1stdibs 2015 12 13 20131411 180 160 140 120 100 80 60 40 20 0 2011 2012 2013 4.0% 3.5% 3.0% 2.5% 2.0% 1.5% 1.0% 0.5% 0.0% 5,000 4,500 4,000 3,500 3,000 2,500 2,000 1,500 1,000 500 0 200% 180% 160% 140% 120% 100% 80% 60% 40% 20% 0% 3O2O 40-50% 100% 1% B2C SKU +++ O2O 9/20
B2C C2C 4 97.9% 60%C2C C2C B2C 25.4% C2C 50% 14 15 16 C2C 10/20
IPO B2C C2C SKU 3 6 15 SKU Costco 17 SKU 18 10 2010 3 7000 40.00% 2010 11 100.00% 2013 12 28.21 2014 5 2.49 10.35% 14 153-531 11/20
2 3 1 19 39 200 10 35 10 4S 18 3 2 70.69% 13+3.8 20 12/20
3CR47.1%34% O2O 20.21 15 21 22 NAV 52.34 273 34.90 30.18 277.72-81.15% 48.63 290.7 12.12 87.65 215.17-77.40% 34.28 101.62 10.08 19.70 92.01-62.74% 308.33 560.56 114.81 239.29 436.08-29.30% 59.58 101.73 29.06 42.29 88.49-32.67% 96.35 142 55.48 66.65 130.83-26.35% 59.24 84.48 4.59 26.62 62.46-5.15% 59.99 54.6 2.19 9.58 47.21 27.08% 55.96 35.4 5.33 3.98 36.75 52.29% 59.34 20.5 15.78 11.78 24.50 142.18% 20141217 2015 2014 13/20
2015 2013 IP 2013 10 Uwowo 2014 3 2014 5 2014 11 2014 12 IP IP 23 2013 9 Mall 104 2013 14/20
2014 7 70% FasTracKidsFasTracEnglish 24 2013 Etoread APP Asiatravel 15/20
25 26 O2O PC O2O PC APP PC (NFC) Wi-Fi ibeacons O2O O2O PC PC O2O 16/20
27 PC A Galeries LafayetteLane Crawford 17/20
Macy'sSaks Fifth Avenue SwankColette 28 12 10 8 6 4 2 0 1996 1998 2000 2002 2003 2005 2007 2008 2009 2010 2011 2012 2013 O2O 3D 3D 3D 3D 18/20
3D 29 3D 30 1 2 3 19/20
6 300 20% 6 300 10% 20% 6 300 10% 6 300 10% 6 300 5% 6 300 5% 6 300 5% 2014