1-1华谊兄弟传媒股份有限公司首次公开发行股票并在创业板上市招股说明书(申报稿).doc

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1-1-1 A 4,200 1.00 16,800 1 12 2 36 3 25% 4 50% 2009 9 19

1-1-2

1-1-3 1 12 36 25% 50% 220081129 57 2009720 2008331 53,016,973.67 2008331 2009 918 53,016,973.67 3

1-1-4 4 2006 2007 2008 2009 1-6 47.49%42.37%25.65%20.93% 5 VCD/DVD 6 6 600 7 80% 8

1-1-5 2 2 18,896.50 40% 18% 9 2009 2009 10 82% 14.67% 1,100 520 233.3 2,500 36%

46% 1,829 82% 2008 10 2009-2012 2,000 2008 580 2008 2009 5 19 2009 1-6 1,829 46% 2008 2008 12 31 1,868 2009 5 1,829 45 1,874 9,343,718.86 2009 1-6 2009 1-6 -1,037.14 2009 5 2009 9,343,718.86 11 2007 5 1 2008 11 18 2009 1-1-6

7 2007 2008 1,800 450 1-1-7

... 19... 22... 23... 24... 25... 26... 26... 27... 29... 30... 31... 34... 34... 35... 36... 36... 37... 39... 39... 40... 41... 41 1-1-8

... 41... 42... 42... 43... 43... 44... 44... 44... 46... 51... 60... 79... 88 5%... 90... 96... 99...135...143...170...181...182...184...184 1-1-9

1-1-10...217...222...223...224...225...227...227...227...227...228...229...245...245...246...246...246...248...249...265...267...283...289...290...293...296

1-1-11...297...301...302...305...341...361...366...368...370...370...397...399...399...401...402...404...404...406...406...428...428...430

...440...440 1-1-12

2008.1.21 2006.8.14 2008.1.20 2004.11.19 2006.8.13 2008 8 12 2008 7 28 2008 5 4 2008 4 25 2008 9 24 1-1-13

2009 1 7 2007 9 26 BVI BVI 2008 6 30 CSM - 1-1-14

LED LED, LED LED LED LED 10 30 1-1-15

1-1-16 12 5

1-1-17 A 1 4,200 A

2006 2007 2008 2009 1-6 1 2 1-1-18

HUAYI BROTHERS MEDIA CORPORATION C1-001 12,600 12,600 ( 2010 3 12 ) ( 2011 1 5 ) ( ) ( ) 2004 11 19 500 2006 6 28 500 5,000 1,500 2006 8 14 1-1-19

2007 9 18 5,000 2007 11 22 5,264 2008 1 21 2007 11 30 116,645,916.07 0.857981 10,008 1.00 10,008 2008 3 12 10,008 12,600 2004 1.2 2.5 3 2005 21 2007 CSM 76 1-1-20

12 5 11 28 7 44 64 17 4 45 15 12 2008 1 2 + + 1-1-21

1-1-22 + 3 2006 500 14.25 4 5 75 34.85% 11.03% 45.88% 1 1960 3 2005 9 2 1970 4

2005 9 2008 1 [2009]05629 2009-06-30 2008-12-31 2007-12-31 2006-12-31 674,484,092.32 555,102,306.22 317,460,103.58 189,154,594.61 391,160,441.81 307,089,896.63 162,255,256.45 142,194,304.62 280,041,157.31 248,012,409.59 155,204,847.13 46,960,289.99 3,282,493.20 - - - 283,323,650.51 248,012,409.59 155,204,847.13 46,960,289.99 2009 1-6 2008 2007 2006 260,654,323.37 409,346,801.78 234,778,645.87 124,347,898.34 40,712,724.15 85,886,586.37 53,434,294.71 19,960,970.26 43,212,579.77 83,937,571.69 58,333,018.37 23,096,586.26 32,028,747.72 68,064,536.13 58,244,557.14 23,564,114.94-394,312.47 - - - 31,634,435.25 68,064,536.13 58,244,557.14 23,564,114.94 1-1-23

2009 1-6 2008 2007 2006 13,127,188.61-61,122,829.31-44,914,753.83-34,389,203.59-25,276,729.57-43,869,936.60 690,690.87 716,472.00 41,552,758.18 140,653,522.80 51,430,641.39 63,961,812.50 29,403,217.22 35,660,756.89 7,206,578.43 30,289,080.91 2009-06-30 2008-12-31 2007-12-31 2006-12-31 1.96 1.71 1.95 1.76 1.07 0.96 1.29 0.65 % 44.31 30.58 52.28 74.48 % 0.00 0.00 0.00 0.00 2009 1-6 2008 2007 2006 1.56 2.74 3.46 15.83 0.53 1.12 1.22 1.49 5,651.91 9,520.68 6,206.46 2,463.00 8.65 9.56 17.38 23.72 0.10-0.49-0.85-2.29 0.25 0.57 2.43 2.36 0.25 0.57 2.43 2.36 % % 11.44 27.44 37.53 50.18 12.13 31.42 67.34 89.16 A 1.00 1-1-24

4,200 62,000 12,966.32 1-1-25

HUAYI BROTHERS MEDIA CORPORATION 2004 11 19 C1-001 18 A 909 100020 www.hbpictures.com ir@huayimedia.com 010-65805818 010-65881512 A 1.00 4,200 25% / 2.22 2009 6 30 2009 6 30 1-1-26

1-1-27 % 66 4 188 10 010-85130588021-68801578 010-65185227

528 1901 12 709 010-58794371 010-58794370 35 A 8 0755-88991913 0755-88997399 1093 18 0755-25938000 0755-25988122 0200080719027304381 5045 0755-82083333 0755-82083190 1-1-28

1 [ ][ ][ ] [ ][ ][ ] 2 [ ][ ][ ] [ ][ ][ ] 3 [ ][ ][ ] 4 [ ][ ][ ] 5 [ ][ ][ ] 1-1-29

1997 9 1 228 2000 6 15 2 2002 2 1 342 2004 11 10 43 1-1-30

2006 2007 2008 2009 1-6 47.49% 42.37% 25.65%20.93% 1 [2005]2 [2005]2 3 2004 1 1 2008 12 31 ( [2009]31 [2009]31 ) 1-1-31

2008 12 31 [2005] 2 2005 1 2007 12 100% 2007 1 2009 12 100% 2007 9 2008 12 100% 2006 2007 2008 2009 1-6 33.55%32.56% 11.53%8.56% 2007 12 2008 12 31 2009 12 31 2 [2005]2 [2009]31 2009 1 1 2013 12 31 2006 2007 2008 2009 1-6 5.02% 4.17% 9.90%7.94% 2013 3 [2003]105 2004 1-1-32

1 1 2008 12 31 [2004]28 5%3% 4.2%2.52% 2.52%1.51% ( [2008]46 ) 100 40% 60% 2005 2007 2005 2006 4.2% 2007 2008 2009 2.52% 20072008 2009 4.2% 2009 1-6 64.48 2006 2007 2008 2009 1-6 8.92%5.64%4.22%4.43% 2009 1-6 2008 2007 2006 3,163.44 6,806.45 5,824.46 2,356.41 270.66 784.60 1,896.72 790.46 334.84 898.38 362.76 176.45 186.80 383.03 489.88 313.56 792.30 2,066.01 2,749.36 1,280.47 20.93% 25.65% 42.37% 47.49% 1-1-33

1-1-34 2006 2007 2008 2009 1-6 47.49%42.37%25.65%20.93% VCD/DVD 6 600

1-1-35

1-1-36 2 2 18,896.50 40% 18% 1995 2002 20032007 20% 40% 2009 2009

1-1-37,

1-1-38 2003

2003 GDP 40%2008 43 20%2008 406 2008 2007 2008 26%30% 2007 2008 2008 3,343 1-1-39

1-1-40

1-1-41

1-1-42 2009 6 30 15,505.50 2008 13.19% 1 2009 6 30 28,539.05 45.34% 42.31% 10.45% 63.18% 26.37%

50% 2006-3,438.92 2007-4,491.48 2008-6,112.28 2009 1-6 1,312.72 2009 2006-2008 1,312.72 1-1-43

1-1-44 45.88% 4,200 34.41% 34.41% 2 10 2008 27.44% 62,000 6.2

1.30 6 50% 1-1-45

2004 11 1 C1-001 500 450 90% 50 10% 2004 09 2004 11 17 2004 11 19 3307831002904 2006 6 28 500 5,000 1,500 2006 8 14 2007 9 18 5,000 2007 11 22 5,264 2008 1 21 330783000004500 10,008 18 % 1 3,700.80 36.98 1-1-46

2 1,353.60 13.53 3 1,310.40 13.09 4 590.40 5.90 5 590.40 5.90 6 495.40 4.95 7 455.00 4.55 8 360.00 3.60 9 360.00 3.60 10 288.00 2.88 11 216.00 2.16 12 72.00 0.72 13 72.00 0.72 14 36.00 0.36 15 36.00 0.36 16 36.00 0.36 17 18.00 0.18 18 18.00 0.18 10,008.00 100.00 2007 11 30 BVI (BVI) BVI 1-1-47

1-1-48 2007 11 30 90% 69.40% 35% 100% 21% 80% 90% BVIBVI 69.40% 58.56% 21% 52% 70% 55% 15% 100% 35% 100% 100% 100% 100%

1-1-49 1 2005 2007 36 2007 12 20

2008 1 15 2008 8 4 32 2008 9 7 4 2008 12 8 2009 7 27 36 2 3 4 1-1-50

1-1-51 5 2008 82% 1 50% 2 LED 3 LED LED 4 LED LED 2008 30% LED LED

LED 5 1 2 1 1 2001 7 16 ( ) 15 20 15 50 2001 7 13 ( ) (2)-137 2001 7 13 2001 7 16 1102271297063 2 2007 12 11 20% ( 10 ) 2007 12 17 20% ( 10 ) 2007 12 11 2008 1 3 1-1-52

/ % 20 40 10 20 10 20 5 10 5 10 50 100 3 2008 5 20 50 750 700 197.5 200 57.5 28.75 28.75 187.5 2008 5 23 [2008]583 2008 5 23 700 2008 5 26 / % 217.5 29 210 28 67.5 9 33.75 4.5 33.75 4.5 187.5 25 750 100 4 2008 6 16 4.5% ( 33.75 ) 2008 6 25 1-1-53

/ % 217.5 29 277.5 37 67.5 9 187.5 25 750 100 5 2009 5 20 9% ( 67.5 )12% ( 90 ) 2009 5 20 13% ( 97.5 ) 2009 5 20 2009 6 17 / % 375 50 375 50 750 100 6 2009 6 17 110116002970636 2009 8 5 (2009)0015352 58 122 1-1-54

( ) 750 750 2009 8 5 2001 7 16 2001 7 16 2011 7 15 % / 375 50 375 50 750 100 2 2008 7 LED LED LED 2008 7 99 44 LED 2008 2007 2006 1,154.10 315.35 286.00 61.10 99.09 214.13 1,163.70 823.23 593.32-211.50-200.56-58.78 2008 7 11 1-1-55

2008 7 25 ( ) ( ) 10 700 650 933.3 1) 7,500 1,100 14.67% 1,000 13.33% 46.69 6.67% 2008 12 31 520 580 2008 2008 10 2) 2,500 233.3 2,267.7 2008 10 2009 2012 2,000 7,500 99 LED 1-1-56

1 LED 99 30% 2 2008 LED 3 2009 1,200 4 5 6 6-8 7,500 2008 1 700 2008 7 20 50 700 2008 7 22 [2008]793 2008 7 22 650 700 700 2008 7 22 2 14.67% 2008 8 7 14.67%13.33% 6.67% 2008 8 12 1-1-57

% 457.31 65.33 102.69 14.67 700 3 933.3 93.31 13.33 46.69 6.67 2008 9 15 233.3 933.3 2,500 233.3 2,267.7 2008 9 17 [2008]1084 2008 9 17 233.3 933.3 933.3 % 457.31 49 335.99 36 933.3 4 93.31 10 46.69 5 2008 1) 580 2) 2009 5 19 1-1-58

1) 2) 46% ( 429.32 ) 1,829 3% ( 27.99 ) 1,371.75 ( 75%) 457.25 ( 25%) 2009 5 19 46% ( 429.32 ) 1,829 3% ( 27.99 ) 1 2009 5 25 % 765.31 82 933.3 93.31 10 46.69 5 27.99 3 1-1-59

1-1-60 35% 70 45.88% 10.97% 35.61% 100% 100% 100% 7.54% 69.4% 90% 100% 100% 100% 21% 82% 45%

1-1-61

1-1-62 1 2 3 4 5 6 7 8

1-1-63 9 10 11 12 13 14 15 18 A 909. 7

LED 1 1 2008 4 2 [2008]91 500 0.13 2008 4 3 [2008] 00066 2008 4 18 1228652 2008 4 23 39194064-000-04-08-A 0.13 500 39/F GLOUCESTER TOWER THE LANDMARK 15 QUEEN S ROAD CNETRAL, HK 2008 4 18 2009 4 17 2009 4 20 39194064-000-04-09-4 2010 4 17 (%) 0.13 500 100 2 1-1-64

3 2009-06-30 2008-12-31 35,888,318.32 12,869,299.55 33,979,203.09 11,458,645.09 2009 1-6 2008-60,612.00-165,024.91 2 1 2008 3 18 2008 4 3 2008 4 28 (2008)01-438 2008 4 28 1,000 20%2008 5 4, 110000011011043 ( ) 18 A 908 5,000 1,000 ( 2010 4 27 ) 2008 5 4 2038 5 3 2008 7 16 2008 7 18 1-1-65

1,000 4,000 2008 7 21 (2008)01-588 2008 7 18 4,000 80%2008 7 21, ( ) ( ) (%) 5,000 4,000 100 2009 6 12 5,000 2009 6 12 [2009]788 2009 6 12 5,000 100%2009 6 12, ( ) ( ) (%) 5,000 5,000 100 2 3 1-1-66

2009-06-30 2008-12-31 29,500,819.43 19,976,373.13 19,134,893.34 19,976,373.13 2009 1-6 2008-14,518,285.46-20,023,626.87 3 1 2006 6 8 1,500 1,050 70% 225 15% 225 15% 500 350 75 75 1000 2006721 [2006]101 1 2006 7 19 2006 7 19 1 500 33.33%2006 8 1 3307831003118 1,500 500 ( ) ( ) (%) 350 70 1,500 75 15 75 15 2007 8 19 2007 9 26 70% 350 15% 75 1-1-67

2008 7 16 2007 9 26 70%15%15% 350 75 75 2007 9 30 500.59 350.27 70% 350 2007 10 18 ( ) ( ) (%) 1,500 500 100 2007 10 31 [2007]147 2007 10 29 1,000 2007 10 29 1,500 100% 2007 11 1 33078300006664 1,500 1,500 ( 2008 7 27 ) ( ) 2006 8 1 2036 7 31 ( ) ( ) (%) 1,500 1,500 100 1-1-68

2008 7 28 2008 8 12 330783000006664 2008 11 11 100% 2008 9 30 12,517,598.33 2008 11 11 2008 11 18 ( ) ( ) (%) 1,500 1,500 100 2 5 3 2009-06-30 2008-12-31 2007-12-31 2006-12-31 77,411,601.93 72,264,527.25 52,411,690.22 31,420,867.11 26,769,401.87 11,524,637.74 25,213,905.77 4,426,034.91 1-1-69

2009 1-6 2008 2007 2006 15,244,764.13-4,305,952.81 10,787,870.86-573,965.09 4 1 2007 11 30 2008 2 1 (2007)550 1,000 1,000 2008 1 3 110116010715339 ( ) ( ) (%) 1,000 1,000 100 2008 3 20 1,000 2,980 2008 3 24 (2008)014 2008 3 24 1,980 100%2008 3 26 110116010715339 ( ) 10 316 2,980 2,980 ( ) ( ) 2008 1 3 2058 1 2 ( ) ( ) (%) 2,980 2,980 100 2008 11 11 2,980 6,000 1-1-70

20081113 [2008]01-823 2008 11 13 3,020 6,000 2008 11 19 110116010715339 ( ) ( ) (%) 6,000 6,000 100 2 99 6 3 2009-06-30 2008-12-31 342,784,387.87 268,015,101.42 77,904,814.73 63,287,316.25 2009 1-6 2008 14,617,498.48 3,266,116.25 5 1 2008 10 8 ( ) ( ) 1000 450 45% 550 55% 2008 10 27 320000000077030 1-1-71

2 Junior Young 3 2009-06-30 2008-12-31 18,067,848.38 14,666,573.62 9,359,614.38 9,830,133.62 2009 1-6 2008-470,519.33-169,866.38 6 1 2007 7 15 80 2007 8 13, (2007)1416 20 80 2007 8 13 100 2007 9 4 110102010463959 100 100, ( ) ( ) (%) 100 20 20 1-1-72

80 80 2007 10 16 20%2007 10 16 20% 20 2007 11 21 18 A 906 100 100 2007 9 4 2037 9 3 2008 9 26, ( ) 2008 10 8 110105010463959 ( ) ( ) (%) 100 100 100 2 76 1-1-73

3 2009-06-30 2008-12-31 2007-12-31 47,605,279.40 32,918,980.24 11,536,047.29 36,245,948.50 27,530,298.54 8,899,625.06 2009 1-6 2008 2007 8,715,649.96 31,383,860.92 7,899,625.06 7 1 LED LED LED LED LED 2008 6 30 50 50 100% 2008 6 30 [2008]755 2008 6 30 50 2008 7 1 110116011149718 2008 7 11 2008 7 22 650 700 2008 7 22 [2008]793 2008 7 22 650 1-1-74

700 700 2008 7 25 ( ) ( ) 2008 8 7 14.67%13.33% 6.67% 2008 8 12 ( ) ( ) (%) 457.31 65.33 102.69 14.67 700 93.31 13.33 46.69 6.67 2008 915 233.3 933.3 2,500 233.3 2,267.7 2008 9 17 [2008]1084 2008 9 17 233.3 933.3 933.3 ( ) ( ) (%) 457.31 49 335.99 36 933.3 93.31 10 46.69 5 2009 5 19 2008 7 25 1-1-75

2009 5 19 46% ( 429.32 ) 1,829 3% ( 27.99 ) 2009 5 25 ( ) ( ) (%) 765.31 82 933.3 2 93.31 10 46.69 5 27.99 3 LED 127 LED 44 124 1 17 17 2 16 16 LED 3 15 15 4 12 12 5 11 12 6 10 10 7 7 7 8 6 6 1-1-76

9 6 6 10 5 5 11 4 6 12 3 3 13 2 2 14 2 2 15 2 2 16 2 2 17 1 1 18 1 1 19 1 1 20 1 1 124 127 127 LED 113 14 3 2009-06-30 2008-12-31 1-1-77 28,351,999.40 40,896,314.37 18,236,073.31 28,607,495.26 2009 1-6 2008-10,371,421.95-3,392,504.74 5% 1 5% 5% 34.85% 11.03% 10.97%

34.85% 1101011960032753XX 11.03% 1101011970040453XX 10.97% 3301066409100XX 2 1 1996 5 15 8 1504 B 1,500 1,500 ( ) 1996 5 15 2026 5 14 90% 2009-06-30 2008-12-31 15,756,813.84 15,341,520.26 14,950,076.45 14,976,548.17 2009 1-6 2008-14,321.33-5,649.81 1-1-78

2 1998 7 23 13 4 306 200 200 1998 7 23 2028 7 22 69.4% 35% 2009-06-30 2008-12-31 14,782,325.66 15,497,634.56 14,162,469.18 14,544,183.11 2009 1-6 2008-284,673.93-112,701.24 3 12,600 4,200 25% % 1 4,390.80 34.85 1-1-79

% 2 1,389.60 11.03 3 1,382.40 10.97 4 590.40 4.69 5 590.40 4.69 6 500.00 3.97 7 500.00 3.97 8 495.40 3.93 9 455.00 3.61 10 368.00 2.92 2009 7 18 14 3 1 3 2 1 1 2009 7 20 5 3 / / 14 3 42 3 3 9 18 1 3 3 3 3 3 9 1 3 3 2 1 3 3 1-1-80

1-1-81 75 34.85% 11.03% 3.93% 3.61% 12 50% 36 25% 1TOM 1 TOM (BVI) (BVI)

(BVI) 58.56% (BVI) 2004 10 11 618438 certificate of incorporation (BVI) 5 1 5 125 P.O.Box 957, Offshore Incorporations Centre, Road Town, Tortola, British Virgin Islands 2008 3 31 (BVI) (BVI) Offshore Incorporations Limited 2008 6 19 (Certificate of Incumbency of Huayi Brothers International Holdings Limited) 2008 3 31 (BVI) 125 (BVI) (BVI) 2009 2 14 (BVI) (BVI) (BVI) 2005 9 12 2006 2007 2008 2009 9 9 (BVI) (BVI) 1-1-82

TOM (BVI) TOM Group Limited(TOM, 2383 TOM ) TOM Entertainment Group Limited TOM (BVI)27% 2004 12 9 TOM ChinaEquity International Holding Limited TOM (BVI) 27 ( 100 27%) 500 2005 12 30 TOM TOM (BVI) 20 ( 100 20%) 700 2007 12 31 TOM JJ Media Investment Holdings LimitedDiamond Ray Venture Limited Improve Frame Holdings Limited (BVI) 7 JJ Media Investment Holdings Limited 3.2 Diamond Ray Venture Limited 3.2 Improve Frame Holdings Limited 0.6 437.5 2 TOM TOM TOM / 2009 9 6 TOM TOM TOM 2005 9 TOM 27% 2006 6 TOM (BVI)20 TOM 1-1-83

27% 10% 10.7% 6.3% TOM 2006 7 20 TOM TOM TOM 2007 11 21 TOM 2007 11 19 TOM TOM (2007 11 )TOM / TOM, 3 2005 9 2006 6 27% 2005 9 22 27% 135 1-1-84

2006 6 15 27% 10% 50 10.7% 53.5 6.3% 31.5 TOM / TOM 2006 6 2007 11 6.3% 2006 6 15 6.3% 31.5 2006 6 28 500 5,000 4,500 0.63% 2007 8 28 0.126% 6.3 0.504% 2007 11 19 0.504% 25.2 / 1-1-85

TOM TOM 5.6% / TOM BVI (BVI) / (BVI) TOM TOM / TOM TOM / 2 2008 3 1,650 550 4.3651% 6 12 2008 2 29 1-1-86

550 200 2,222 ( ) 2,242 2,222 20 2009 4 22 2,222 20 2009 4 23 2,242 2009 6 22 550 ( ) 2,242 2,242 2009 6 26 1-1-87

1 2006 2007 2008 2009 6 30 2009-06-30 2008-12-31 2007-12-31 2006-12-31 106 95 68 37 54 21 - - 13 12 11-107 95 75-46 - - - 326 223 154 37 2 2009 6 30 % 40 12.27 34 10.43 113 34.66 54 16.56 85 26.07 326 100.00 % - - 14 4.29 198 60.74 114 34.97 1-1-88

326 100.00 1-1-89 % 50 13 3.99 41-50 28 8.59 31-40 93 28.53 30 192 58.89 326 100.00 20.00% 8.00% 13.00% 8.00% 10.00% 2.00%+3 7.50% 2.00% 1.50% 0.50% 2.00% - 0.40% - 0.50% - 0.80% - 0.60% - 8.00% 8.00% 12.00% 12.00% 2008 5 23 ( ) ( )

2009 7 16 2005 1 1 2009 6 30 5% 12009 7 25 /,(1) (2) (3) (4 (5) 1-1-90

(6) (7) 22009 7 25 (1) (2) (3) 147 36 12 (4) 18 (5) (6) 25% 6 6 6 6 32009 7 25 (1) 1-1-91

(2) (3) 147 36 12 (4) 18 (5) (6) 25% 6 6 6 6 42009 7 25 52008 6 12 (1) (2) 1-1-92

(3) 62008 11 14 / 5% 72008 6 12 TOM TOM 82009 9 9 BVI 2004 10 2008 3 (BVI) 1-1-93

5% 2009 7 25 5% (1) (2) (3) 2009 7 25 (1) (2) (3) 147 36 12 (4) 18 (5) (6) 25% 6 1-1-94

6 6 6 1-1-95

1-1-96,% 2009 1-6 2008 2007 2006 7,288.86 27.78 22,975.93 56.40 10,606.50 48.93 6,159.39 49.53 14,492.44 55.23 10,758.93 26.41 8,277.39 38.18 2,407.58 19.36 4,459.73 17.00 7,002.75 17.19 2,793.97 12.89 3,867.82 31.10 26,241.03 100.00 40,737.60 100.00 21,677.86 100.00 12,434.79 100.00 1 40%

1-1-97 1 2 10 30 3 2 3 1 2

1-1-98 3 4 2007 9

1-1-99 1 1

2 1 2001 10 27 [2001]58 2 2002 2 1 [2001]342 3 2002 9 15 [2002]359 4 5 2003 12 31 [2003]105 2005 4 13 [2005]10 6 2006 9 13 7 8 9 2003 9 4 [2003]38 2004 10 18 [2004]35 2005 7 6 (2005)19 10 2004 1 1 [2003]21 11 2004 8 1 [2004]29 12 2004 8 10 [2004]31 13 2004 11 10 [2004] 1-1-100

43 14 2005 5 8 [2005]49 15 2005 5 8 [2005] 50 16 17 18 19 2006 2 20 [2006]51 2006 5 22 [2006]52 2000 6 6 [2000]320 2004 1 8 [2004]41 20 2004 3 18 [2004]257 21 2004 6 25 [2004]700 22 23 24 2005 7 19 2005537 ( ) 2006 6 21 [2006] 284 2008 12 19 2008 866 25 2002 3 5 [2002]69 26 27 28 29 30 31 32 33 34 35 2003 11 21 [2003]576 2006 12 21 [2006]55 2007 9 16 [2007]98 2008 3 3 200832 2001 12 18 [2001]1519 2003 9 17 [2003]756 2004 8 6 [2004]143 2004 3 31 200428 2005 3 29 [2005]2 2005 3 29 [2005]1 1-1-101

1-1-102 36 2009 3 27 [2009]31 3

1-1-103

49% 2 1 2003 9 2008 43 4 40%2008 40 30% ( ) 50 45 40 35 30 25 20 15 10 5 0 9.20 15.14 20.63 26.40 33.27 43.41 2003 2004 2005 2006 2007 2008 2003 20% 2008 406 1-1-104

() 450 400 350 300 250 200 150 100 50 0 402 406 330 260 212 140 200320042005200620072008 2007 402 200 60 15% 8 1 2008 2008 8 2006 2007 2008 8 2007 3 2008 50% 7% 1 2007 1-1-105

2 2008 406 400 1 2006-2008 80% 24 2 2 2006 1-1-106

1-2 3 3 2006 2008 % 1 7.5 100,920 16.97 5 72,870 12.26 2 2 19,700 3.31 7 92,570 15.57 3 5 56,200 9.45 4 7.5 32,540 5.47 5 1 23,000 3.87 6 1 13,760 2.31 7 1 2,300 0.39 1-1-107

1-1-108 2007 2006 1 2 2006 32 4 CR5 51.33% 3 1

1-1-109

(1) (2) 1 (3) (4) 2 (1) (2) (1) (2) (3) 3 (4) (5) (6) (7) (1) 4 (2) (3) 1-1-110

+ 40:10:50 4 2008 34 1,545 4,097 100% 80% 20% 22% 20% 16% 60% 40% 80% 78% 80% 84% 20% 0% 2004 2005 2006 2007 1-1-111

3-6 1-2 24 2 1998 2008 12 8 4 11 8 3 11 19.32 2008 45% 8 15.42 2008 57% 1-1-112

2008 8 7 6 5 4 3.15 2.92 3 2 1 0 (1.15-2.13) 5.1-5.4 7.06 (7.1-8.31 2.29 10.1-10.7 3.9 12.1-12.31 11 30% 2,000 50% 2006 10 4 3,000 15 8 5 GDP 5 2006 1-1-113

4 1 2003 2008 406 10 62% 2008 1 31,000 2 23,000 3 22,900 4 20,200 5 18,600 6 18,000 7 007 14,200 8 12,000 9 11,300 10 3 11,200 182,400 2008 8 2 150,200 2008 57% 1-1-114

% 2006 5 62,600.00 23.70 54.60 2007 4 51,530.00 15.50 54.10 2008 8 150,200.00 35.50 62.30 2006 2007 2007 2008 2 1-1-115

1-1-116 2007 3.2 31.7 6 3 6 2007 MPAA

1-1-117 2002 5,000 7,000 4

1-1-118

1-1-119 6 5 1 1 1 1

2 / 1 2001 10 27 [2001]58 2 1997 9 1 [1997]228 3 2002 9 15 [2002]359 4 5 2003 12 31 [2003]105 2005 4 13 [2005]10 6 2006 9 13 7 2000 6 15 [2000]2 8 2004 8 20 [2004]34 9 2004 10 20 [2004]40 10 2004 10 21 [2004]41 11 2004 10 23 [2004]42 12 2003 9 4 [2003]38 13 14 15 16 2004 10 18 [2004]35 2005 7 6 (2005)19 1999 3 30 1999137 2003 9 17 [2003]756 1-1-120

17 18 19 20 21 22 23 24 25 2004 5 25 [2004]508 2006 5 1 200615 2006 12 21 [2006]55 2007 9 16 [2007]98 2004 8 6 [2004]143 2004 3 31 200428 2005 3 29 [2005]2 2005 3 29 [2005]1 2009 3 27 [2009]31 3 1-1-121

1-1-122 3 2 1 2008 12 31

500 15,000 700 20000 600 500 482 489 489 505 514 500 529 502 15000 400 300 10000 200 100 5000 0 2001 2002 2003 2004 2005 2006 2007 2008 0 ( ) 60.00 50.00 40.00 30.00 20.00 10.00 31.07 31.52 36.33 42.93 43.56 48.46 51.35 50.74 0.00 20012002200320042005200620072008 2008 50 20% 30% 1-1-123

7 CSM 2007 18 24 909 1% 15 2007 5 1 21 2 20 3 2 19 4 17 5 16 6 14 7 13 8 13 9 12 10 12 CSM 2 30 20 500 600 1-1-124

1-1-125 2008 3,343 10 300 1-2 3 /

2008 1 34 967 2 12 619 3 11 353 4 10 269 5 9 450 6 9 327 7 9 250 8 8 533 9 7 182 10 6 216 % 14.00 16.41 2008 5% 3 1 31 1-1-126

1-1-127 6 24 90% 10% 2

1-1-128 2008 32% 9% 11% 48% GDP 4 1

1-1-129 2 4 4

1-1-130 8 3 50-60 / 70-80 / 30% 10 8 CSM 2007 22.37% 33.52%

160 / 1 1 2 / 1 2005 9 1 [2005]439 1-1-131

2 3 2005 4 13 [2005]10 2003 12 31 [2003]105 4 2006 9 13 5 2005 9 1 [2005]34 6 2003 9 4 [2003]38 7 8 9 10 11 2004 10 18 [2004]35 2005 7 6 (2005)19 2005 3 29 [2005]2 2005 3 29 [2005]1 2009 3 27 [2009]31 3 3 51% 2 1 1-1-132

2006 164 174 CAA Creative Artists Agency WMAWilliam Morris Agency 2 1 76 2 60 3 56 4 42 5 22 5 22 1-1-133

1-1-134 3 1 2 GDP 4 1 2

1-1-135 3 1

2006 2008 2006 2007 2008 12.02% 23.40% 27.03% 2007 2006 2 1999 2 15 30 1 28 2003 1997 1 2008 9 290 1-1-136

1-1-137 0.40% 0.95% 1.79% 0.53% 0.83% 2.00% 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 2006 2007 2008 2 20 90

2009 6 2007 2008 30 43 65 76 25% 31% 35% 2004 5 60 56 2004 42 1-1-138

1-1-139 1 2 + + + 3 2006 500 14.25

4 / 27 2004 11 10 28 42 24 41 17 12 25 25 11 5 1 12 5 11 7 4 14 12 12 2008 15 12 17 4 45 13 13 11 12 15 13 1-1-140

14 24 99 3,000 5,000 2008 3 10 1997-2003 3,000-5,000 1-1-141

2004 12,000 2006 9 13,000 2007 24,978 2008 32,500 5 1-1-142

1 1-1-143

1-1-144 1

1-1-145 2

1-1-146 3 31

1-1-147 3-5 4 5 6

1-1-148 7 6 1-2 2

1-1-149

1-1-150 24 3 1

1-1-151 2

1-1-152 3 1 1

1-1-153 2 31 3 2 2 1

1-1-154 2 3 + 1

1-1-155 2

1-1-156 + + +

1-1-157 2009 2 +

1-1-158

1 : 2009 1-6 2008 2007 2006 1 5 3 3 2 4 3 1 : 2009 1-6 2008 2007 2006 3 100 11 379 5 129 5 160 3 109 9 290 5 122 2 73 : 2009 6 30 2008 2007 2006 76 65 43-3-4 2 300 1-1-159

2 % 30 70 62.5 80 1-1-160

15 87 100 100 99 100 100 70 1-1-161

100 60 100 70 50 100 70 50 80 1-1-162

40 100 100 3 1 40% % 2009 1-6 2008 2007 2006 399.02 5.47 - - - - - - 2,844.04 39.02 - - - - - - 3,838.88 52.67 10,951.20 47.66 - - - - 11.29 0.15 3,381.70 14.72 7,996.03 75.39 - - 1-1-163

3.00 0.04 46.59 0.20 1,320.42 12.45 - - - - 16.68 0.07 292.32 2.75 3,902.77 63.36 3.14 0.04 0.15 0.001 997.73 9.41 - - 141.95 1.95 496.23 2.16 - - - - 9.05 0.12 7,970.05 34.69 - - - - 7.56 0.10 11.40 0.05 - - 2,256.63 36.64 1 30.94 0.42 101.92 0.44 - - - - 2 7,288.86 100.00 22,975.93 100.00 10,606.50 100.00 6,159.40 100.00 1 2 3 2 60% 1-1-164

36.20 4,403.08 92 / 35 / 70-80 / 40% 30% 3 % 2009 1-6 2008 2007 2006 3,814.12 85.52 5,235.07 74.76 1,102.20 39.45 - - 645.61 14.48 1,767.68 25.24 1,691.77 60.55 3,867.82 100.00 1 4,459.73 100.00 7,002.75 100.00 2,793.97 100.00 3,867.82 100.00 1 % 2009 1-6 2008 2007 736.43 16.51 2,031.37 29.01 598.52 21.42 1-1-165

4 % 2009 1-6 57,428,482.66 22.11 2008 107,494,798.63 26.56 2007 69,017,412.72 31.84 2006 54,356,503.42 43.71 20%-30% 50% 5% 2009 1-6 - 2008-2007 - 2006-1 1-1-166

2 % 2009 1-6 23,330,872.53 16.90 2008 28,773,699.71 15.20 2007 19,228,809.36 14.55 2006 18,029,067.29 10.13 50% 5% 2009 1-6 - 2008-2007 - 2006-1 1-1-167

1-1-168 2 3 1

1-1-169 2 2008 4 8 2008 4 20 39 6

624.6 200 424.6 2008 10 8 4.8 4.20 1 2009 6 30 1 60 2 3 34,366 327 2009 5 10 2011 5 9 2 3 2008 8 16 3,206 343 2009 C5-003 8 15 60 2 3 1,485 55 C C4 2009 5 6 2010 5 5 1-1-170

4 5 6 C1-0011-3 3,229 382 2007 12 5 2009 12 4 105,000 1385 2008 1 1 2020 12 31 18 B 915 27,117 207 2008 6 1 2011 5 31 18 7 B 916 21,780 180 2008 5 16 2011 5 15 18 8 A 909 69,168 528 2008 6 15 2009 12 31 9 18 907-908 42,575 325 2009 4 1 2010 3 31 10 11 18 A 906 21,235 155 2007 8 1 2010 7 31 18 A 9 2,720 20 12 18 A 903 903A 43,000 330 2008 4 1 2010 7 31 2007 9 25 2010 9 24 13 18 A 905 24,500 165 2008 4 10 2011 4 9 14 10 316 0 30 2007 12 1 2011 12 31 15 16 18 B 815-816 48,500 388 2009 1 1 2011 12 31 18 A 27 76,350 463 2008 6 30 2009 8 29 6815 12 13 1-1-171

1-1-172 ( 72 ) ( 1995 4 28 ) 2 2009 6 30

2009 6 30 % 2,128,105.00 423,096.90 1,705,008.10 80.12 2,576,617.26 363,833.63 2,212,783.63 85.88 35,199,665.15 6,216,441.51 28,983,223.64 82.34 39,904,387.41 7,003,372.04 32,901,015.37 82.45 1 2009 6 30 2 2005 3 25 2005 3 28 2006 6 21 2006 11 20 2006 11 20 2007 12 15 2008 1 15 2009 5 4 2009 7 27 36 / 1-1-173

1 4567289 9 2 4567290 15 3 4567291 16 4 4567292 21 5 4564242 9 6 4564243 35 7 4564244 36 8 4564245 41 9 4564246 42 10 4567296 38 11 4567095 43 12 4567293 25 13 4567294 35 14 4567295 36 15 4567297 41 16 4567298 42 17 5433734 9 18 5433738 35 19 5433740 41 20 5433741 42 21 5433735 15 22 5433736 16 1-1-174

23 5433737 21 24 5433739 38 25 5734829 36 26 5734830 40 27 5734831 16 28 5734832 40 29 5734833 9 30 5734834 41 31 5734835 38 32 5734836 36 33 5734837 35 34 5734838 16 35 5734848 41 36 5735508 38 3 1 2008 6 1 1-1-175

90 2 2008 12 8 2008 12 5 2011 12 4 6 30% 100 4 1 1. () (2008) 019 2. 3. () (2008) 018 () (2008) 013 4. ( ) (2008) 083 1-1-176

5. () (2003) 006 6. ( ) (2008) 013 ( ) 7. () (2007) 003 8. 9. 10. () (2007) 014 () (2007) 018 ( ( ) (2008) ) 019 11. () (2008)2 12. () (2005) 007 13. () (2006) 14. 15. 008 ( ) (2007) 109 ( () (2007) ) 004 16. () (2006) 008 17. () (2008) Kingjoy Vision 002 Corporation () (2008) 18. 005 19. 99 () (2009) 001 20. 21. () (2009) 009 () (2009) 013 2 1-1-177

1. [2008]081 2. [2008]126 3. [2008]130 ( 4. (2007)146 5. (2008)029 6. (2006)215 7. (2007)061 8. (2006)101 9. (2009)013 ( 10. (2009)054 ( ) J&J Productions Limited CMC Content Corporation 11 [2002]359 ( 1994 12 31 ) 1-1-178

1-1-179 / 99

9 1 2 3 4 5 20095 2011 1 5 2010 3 195 12 2010 2 591 1 348 2010 9 8 501 2010 7 31 1-1-180

2004 12 6 5 11 28 2007 2 8 44 2007 8 16 64 12 17 2007 12 20 4 45 13 2008 9 18 2008 12 18 13 2006 12 26 14 24 1-1-181

1-1-182

2008 4 18 500 0.13 2009 6 30 3,588.83 3,397.92 2009 1-6 34.16-6.06 1-1-183

2009 7 1 34.85% 34.85% 11.03% 11.03% 45.88% 45.88% 2 1-1-184

% 1,500.00 100.00 100.00 100.00 6,000.00 100.00 0.13 100.00 5,000.00 100.00 933.30 82.00 3 1 2 3 4 5% 5 5% 6 7 21% 8 35% 9 45% 10 11 12 13 ( ) 14 BVI 15 BVI 16 17 18 19 20 21 22 23 4 5 (1) 1-1-185

( ) 2000 8, 2,600, 1,300 50%50% 2008 9 24 2005 2006 2000 2001 2002 2003 2004 2005 2006 24 1-1-186

(2) ( ) 2001 1 12 150 75 50% 2009 1 7 2007 2007 7 15 (3) ( ) 1998 7 10 200 150 20 20 10 75%10%10%5% 2008 4 25 200 130.8 8 11.2 2 24 8 8 8 65.4%4%5.6% 1%12%4%4%4% 2004 1-1-187

35% (4) ( ) 1996 4 22 100 72 13 10 5 72%13%10% 5% 2008 5 4 1,500 1,125 225 150 75%15%10% 1 1 1-1-188

2009 1-6 2008,% 379.26 2.75 98.44 140 2.22 100.00 6.00 0.04 1.56 - - - - 385.26 2.79 100.00-140 2.22 100.00-2007 2006,% - - - - 10 0.13 51.02 - - - - - - - - - - - - 10 0.13 51.02-2008 30% 70% 2009 1 1 2009 12 31 2009 1-6 337.71 2009 1-6 236.40 2009 6 30 2009 10 50 95.23 2009 1 2009 12 2009 6 30 47.62 2009 25 10 47.62 1-1-189

2009 5 2009 6 2009 6 30 47.62 2009 1 6 2009 6 30 2008 140 140 2006 20% 2006 50 20%10 2 2009 1-6 2008,% 25.55 8.68 1.99 38.32 7.43 1.50 63.00 21.40 4.25 126 28.20 4.92 88.55 30.08 6.24 164.32 31.88 6.42 1-1-190

2007 2006,% 23.60 16.74 1.80 - - - - - - - - - 23.60 16.74 1.80 - - - 2009 2009 1-6 630,000 2008 2 15 7,800 1,385 2008 1 1 2020 12 31 10.5 2008003 2009 13.07 2008 4 11 18 9 907-908 325 2008 4 1 2009 3 31 510,900 2008 6 30 2008 4 1 2008 6 30 127,725 2008 7 1 2009 3 31 2008 7 1 2009 3 31 2009 3 31 18 9 907-908 325 1-1-191

1 2009 4 1 2010 3 31 510,900 / 2008 38.32 2009 1-6 25.55 2008 2008 1,260,000 2008 383,175 2007 2007 1-6 235,950 2007 1 1 18 9 907-908 325 20071 1 2007 6 30 471,900 3 2008 6 90 2009 5 90 2009 1-6 0.34% 2 2004 11 19 1 1-1-192

50.00 118.55 30.00 36.20 55.62 148.10 37 4 1,175.00 0.00 A2006 2 50 25 2009 6 30 118.55 57.82% B2006 6 30 40 2009 6 30 36.2 17.13% C2008 3 55.62 37 2008 10 37 2009 6 30 148.10 62.44% 1-1-193

D2008 3 1,175 2008 38 : 790.91 790.91 761.34-3.74% 409.78 409.78 413.96 1.02% 1 1 1 1 1 1 1,200.69 1,200.69 1,175.29-2.11% -2.11% 1 / 36 08 09 60 2010 40 2,920 73 24 22 922.09 1-1-194

45 2008 4 11 2008 5 4 A2007 9 4 37 2007 9 4 37 2007 9 4 B2008 1 1 2005 11 29 2005 9 29 2005 9 1 2006 6 14 15 2008 4 11 2008 5 4 A2006 11 20 36 2006 11 20 20 B2007 12 15 36 1-1-195

2008 9 7 36 2008 4 11 2008 5 4 A 20% 2006 3 1 2,648 20% 2006 3 16 3,680 80% 920 20% 20% 2006 3 16 2,311 6% 2,648 2006 12 31 610 2007 9 2007 9 17 20% 2007 11 15 20% 2007 11 19 100% 2,648 2,648 B 100% 2006 8 1 1,500 500 1-1-196

70% 15% 2007 8 19 2007 9 17 100% 2007 9 26 500 2007 9 30 500.59 350.27 70% 350 2007 10 31 [2007]147 2007 10 29 1,000 2007 11 1 33078300006664 1,500 1,500 C 20% 2007 7 15 80 100 80 80% 20 20% 2007 9 17 20% 2007 10 16 2007 10 18 20 20% 2007 11 21 1-1-197

100% 20 A2007 9 27 579,107.75 B2007 12 17 116,493.01 C2008 2 28 2008 10 1,101,500 D2008 2 28 2008 10 199,600 2008 4 11 2008 5 4 1-1-198

2007 70% A 2006 2007 2008 2009 1-6 110.85 60.85 - - - - 7.70 7.70 21.60 8.64 9.80 7.45 4.80-9.89 - - - - - - 52.50 52.50 - - - - - - 0.20 0.20 - - - - - - 0.20 0.20 - - - - - - 0.20 0.20 95.00 95.00 132.45 69.49 9.8 7.45 57.90 43.21 102.70 102.70 1.07% - 0.05% - 0.14% - 0.40% - - 1.47% - 0.08% - 0.20% - 0.84% 1.07% 1.47% B2007 70% 2006 2007 9 30 1-1-199

2007 9 2007 9 2009 1-6 2008 2006 30 30 5,765.15 1,150.49 3,735.94 1,078.77 0.00 1,524.48-430.60 1,020.79 58.00-57.40 22.12% 2.81% 15.91% 4.59% 0.00% 48.19% -6.33% 17.53% 1.00% -2.44% 2006 2006 16.61% A 2007 70% a 1-1-200

2008 2007 2006 1,230.62-80.00 130.11 69.56 1,360.73 69.56 80.00 2.02% 0.22% 0.42% - 350.00-2006 2006 - - 16.61% 2.02% 0.22% 17.03% 20% b 2006 2006 2006 2006 0.00 2006-57.40 2006 2006 0.00% 2006 2006-2.44% 0-2.44% B 2008 8 2009 5 a 1-1-201

2,625.00 4.73% 4,894.00 2008 2008 7.46% 12.19% 12.19% b 2008 2008 2008 796.31 2008-339.25 2008 2008 1.95% 2008 2008-4.98% 1.95%-4.98% 2 2006 3 South Picture Holdings Ltd 660 100 2008 4 11 2008 5 4 2006 12 20 (BVI) 1-1-202

(BVI) ( ) (BVI) 2006 11 18 1,001.02 (BVI) 155.12 A 2006 2007 2007 9 28 2006 8 95% CMC Content Corporation ( CMC ) ( ) 2006 11 28 CMC 2006 12 27 2007 10 4 CMC 2,000 CMC CMC Content Corporation 110 ( ) CMC 1-1-203

2007 6 3 ( ) B 2006 11 (BVI) BVI 80%20% 2009 1 (BVI) ( ) ( ) (BVI) 2008 4 11 2008 5 4 1-1-204

320 642 259 592 180 2,033 A 2006 2 7 2006 12 26 320 B 2006 5 9 2006 7 31 642 1-1-205

C 2006 6 6 2006 8 16 25 259 D 2007 1 740 592 148 2007 7 592 20 E 2008 1 15 180.01 2008 4 11 2008 5 4 3 2007 BVI 155.12 18.14% 51.97 2007 0.48% 1-1-206

A2006 5 25.51% 2006 0.35% B2007 50 50 3.13% 2007 1.87% A2006 25 100% 25 2006 0.53% B2007 50 50 10.49% 2007 0.28% A 3,000 2009 5 22 ( ) 3,000 2009 5 31 2010 5 30 7.434% 2009 5 22 3,000 1-1-207

2009 5 22 3,000 B 5,000 2009 1 6 ( ) 3,000 200918 20101 7 7.434% 2009 1 6 5,000 2009 1 6 5,000 2009 1 6 3 2009 1 7 3 C 3,000 2009 7 16 3,000 2009 7 4 2010 7 3 3,000 1-1-208

A 2,000 2009 3 19 2011 3 18 B 4,000 2009 3 19 2011 3 18 C 1,000 2009 4 1 2011 3 31 2009-06-30 2008-12-31 2007-12-31 2006-12-31-150,000.00 250,000.00 388,593.00 388,593.00 150,000.00 250,000.00-3,885.93 7,500.00-3,885.93 7,500.00 - - 60,003.00-60,003.00-2,840,183.68 1,400,000.00 100,000.00 100,000.00 2,840,183.68 1,400,000.00 100,000.00 100,000.00-20,948,039.77 23,977,652.34 - - 18,992,500.00 1-1-209

- - 7,216,781.77 20,948,039.77 50,186,934.11 1-1-210 2009 1-6 2008 2007 2006 2,019,917.7 3,202,396.65 2,600,280 2,009,505 2,019,917.7 3,202,396.65 2,600,280 2,009,505 1 200139 6100001011218 70 500 500 54% ( ) 200731 2007926 2 2000815 110000001624946 4,600 4,600 ( ) ( ) ( ) 20008

1-1-211 15 2030814 100% ( ) 2008325 95% 5% ( ) 2008718 2008731 [2008]2479 2008924 3 2004914 1100001748810 12 C 205 5,000 5,000 2004914 2024913 55% 15% ( ) 2008513 45% ( ) 55% 2008 78 2008724 20081211 4 2001119 1102231192855

1-1-212 150 150 ( ) 2001119 2031118 70%30% ( ) 2007824 90% 10% 20081116 20081116 200917 5 2006321 3307831003088 C7-104 500 500 ( 20083 16) ( ) 2006320 2036320 70% 30% ( ) 2008519 30% ( ) 70% 2008 7 21 2008 8 1 6

2005912 110000410270665 ( ) 18 909B 100 2005912 2025 911 100% ( ) BVI 2008331 (BVI) 2008630 ( ) BVI 2008 9 28 2008 10 25 2008 11 24 [2008]3063 2009 7 17 7 (BVI) (BVI) 2004 10 11 618438 5 1 125 P.O.Box 957, Offshore Incorporations Centre, Road Town, Tortola, British Virgin Islands ( ) 58.56% 2008 3 31 100% BVI 2009 2 14 (BVI) (BVI) 1-1-213

8 (BVI) (BVI) 2005 11 28 686577 (BVI) 5 1 1 P.O.Box 957, Offshore Incorporations Centre, Road Town, Tortola, British Virgin Islands (BVI) 100% ( ) (BVI) 2008 3 31 (BVI) BVI (BVI) 2009 2 14 (BVI) 9 2001 8 31 2005 5 19 768433 1 2 1 (BVI) 2 39th Floor, Gloucester Tower, The Landmark, 15 Queen s Road Central, Hong Kong (BVI) 100% ( ) (BVI) 2008 3 31 (BVI) BVI 2009 2 14 1-1-214

1-1-215 1 ( ) 2 50 3

2008 5 4 2007 ( ) 2006 2007 2008 2009 1-6 1-1-216

9 3 2008 1 21 2011 1 21 1 1960 2 1970 3 1962 4 1964 1995 1999 2003 (Taobao.com)2004 SOFTBANK CORP ( ) 1-1-217

5 1963 EMBA ( ) 6 1971 ( ) GTSS ( ) 2006 4 2008 1 ( ) Creative Ray Venture Ltd(BVI) 7 1968 CEO 8 1955 2007 5 9WU YING 1959 UT UT ( ) 2008 2 3 2008 1 21 2011 1 21 1TAN ZHI 1955 1-1-218

Chipcom UTStarcom 8848.netTOM (Nasdaq: FMCN) 2 1944 ( ) 3 1982 1 2 3 1962 1 1962 1993 80 10 30 2007, 2 1958 1985 1991 1-1-219

3 1971 1992,, 2006 4 1963 2006 5 161 5 1958 1995 99 6 165 6 1951 7 1955 1995 2009 8 1-1-220

1966 2007 9 9 1971 2008 1 2008 1 11 8 2008 1 12 2008 2 23 2008 3 5 2 2007 12 28 2008 1 11 TAN ZHI 1-1-221

TAN ZHI 2008 1 12 2008-12-31 2007-12-31 2006-12-31 3,840.80 +1,894.26 1,946.54-1,329.46 3,276.00 +3,013.50 1,382.40 +693.16 689.24-60.76 750.00 +750.00 - - - -340.03 340.03 +305.03 1,389.60 +677.63 711.97 +478 233.97 +181.47 495.40 +234.83 260.57 +260.57 - - 36.00 +36.00 - - - - 4.00 +4.00 - - - - 8.00 +8.00 - - - - 288.00 +136.52 151.48 151.48 - - 216.00 +102.39 113.61 113.61 - - 36.00 +36.00 - - - - 3.00 +3.00 - - - - 8.00 +8.00 - - - - 8.00 +8.00 - - - - 21.00 +11.53 9.47 +9.47 - - 2006 12 31 91% 72%4%1%15% 3,276 182 45.5 682.5 1-1-222

2008-12-31 2007-12-31 2006-12-31 455.00 +215.68 239.32 +239.32 - - 360.00 +170.65 189.35 +189.35 - - 6.00 +6.00 - - - - % 1,125.00 75.00 130.80 65.40 Alibaba Group Holding Limited - 7.60 Diamond Ray Venture Limited - 100.00 148.00 80.00 900.00 90.00 800.00 80.00 800.00 80.00 80.00 80.00 800.00 80.00 80.00 80.00 225.00 15.00 8.00 4.00 150.00 10.00 2.00 1.00 Creative Ray Venture Ltd(BVI) - 100.00 600.00 60.00 Improve Frame Holdings Limited - 100.00 60.00 60.00 1-1-223

12,000.00 2.00-100.00 30.00 100.00 500.00 60.00 10.00 100.00 2008 2008 2008 2008 2005.9-273,250.00-273,250.00 2005.9-2008.1-2,005,331.65-2,005,331.65 2006.4-2008.1 2008.1-478,110.00-478,110.00 2008.1-313,905.00-313,905.00 2008.1-131,800.00-131,800.00 2008.1-60,000.00-60,000.00 2008.1-60,000.00-60,000.00 2008.2-60,000.00-60,000.00 2007.9- - 2006.1- - 2007.1- - 1,372,290.00 2006.7- - 1,372,290.00 2009.9- - - 2008.10- - - 1-1-224

2008 2008 2008 4,754,686.65-4,754,686.65 1 Alibaba Group Holding Limited ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) 1-1-225

Alibaba Group Treasury Limited Alibaba.com Limited Tao Bao Holding Limited AliPay E-Commerce Corp Alimama Limited Alisoft Holding Limited Koubei Holding Limited China Y Holding Limited SOFTBANK CORP Alibaba Investment Limited Creative Ray Venture Ltd 1-1-226

1-1-227

12007 11 19 22008 1 11 8 32008 2 23 9 12007 12 28 22008 1 11 TAN ZHI( ), 3 TAN ZHI( ) 2008 1 12 1-1-228

1-1-229 2008 1 11 1 2 30% ( ) 3,000 5%

1-1-230 3 1 2 3 4 5 6 1 2 3 4 30% 5 6 4 13 12008 1 11 100% < > [2007]499 < >

22008 2 23 10,008 100% WU YING( ) 32008 3 17 18 10,305.54 81.79% 42008 4 3 12 84,052,000 66.7% -- -- 1 6,500 52008 5 4 2007 12 84,052,000 66.7% 1-1-231

62008 7 11 12 84,052,000 66.7% - 1 6,500 2,625 72008 11 11 100% 3020 82008 11 29 92008 12 20 13 7,992.2 63.43% 1 5,000-1-1-232

102009 2 20 2008 12 31 2008 2008 2008 2008 2009 2009 1,000 < > 2 < > 2,000 < > 2 < > 4,000 < > 2 < > 5,000 < > 2 < > 112009 5 29 1-1-233

1-1-234 122009 7 11 132009 7 20 < > 1 2

1-1-235 ( ) 30% 10% ( ) ( ) 300 3,000 0.5% 5% 100% 3 4

16 12008 1 12 8 100% 22008 2 1 8 100% WU YING( ) 32008 2 22 8 100% 42008 3 5 9 100% 52008 3 18 9 100% -- -- 1 6,500 1-1-236

2008 4 3 62008 4 11 9 100% 2008 5 4 2007 72008 6 26 9 100% < - > - 1 6,500 2,625 (8)2008 10 27 6 2/3 100% 3,020 < > < 1-1-237

> < > 92008 11 14 6 2/3 102008 12 04 9 100% 1 5,000-112009 1 20 9 100% 2008 12 31 2008 2008 2008 2008 2009 2009 2008 122009 2 5 9 100% 1,000 < > 2 < > 2,000 < > 1-1-238

2 < > 4,000 < > 2 < > 5,000 < > 2 < > 132009 5 14 7 77.78% 1840 46% < > 142009 6 26 9 100% 1-1-239

152009 7 5 9 100% ( ) < > 2009 7 20 162009 7 20 2006 2007 2008 2009 1 6 1 2 1-1-240

3 4 3 12008 1 12 TAN ZHI( ), 22008 4 11 2007 32009 1 20 2008 1 2008 1 11 2 2008 2 23 3 2 1-1-241

1-1-242 3 (1) 300 5% (2) (3) (4) (5) (6) (7) (8) (7) (1) (2) (3) (4) (5) (6) (7) (8)

1-1-243 (9) (10) (11) (12) 4 1 2 3 4 5 6 7 8

1-1-244 9 10 11 2008 3 18 2008 4 11 2008 5 4 2007 1 2 3 4 ( ) 5 1 2 3 4 5 6

1 2 ( ) 3 4 5 1 2 3 4 5, 6 2008 12 30 2008 2009 1 15 2008 2009 5 31, 2009 6 30 1-1-245

1-1-246 - ( ) 2009 6 30 2009 1941 2009 6 30

1-1-247 1 30% ( ) 50% ( ) 50% 5,000 50% 500 ( ) 50% 5,000 ( ) 50% 500 2 1 50% 30% 70% 10% 2 ( )

1-1-248 2008 11 29

2009 6 30 2008 12 31 2007 12 31 2006 12 31 2009 1-6 2008 2007 2006 [2009][05629] 1 2009-06-30 2008-12-31 2007-12-31 2006-12-31 110,199,515.85 80,796,298.63 45,135,541.74 37,928,963.31 - - - - 155,055,066.19 178,621,878.49 120,183,852.19 15,709,837.19 65,284,690.89 25,667,358.08 36,515,292.58 3,459,016.98 13,513,899.63 8,786,351.45 7,377,788.86 2,715,613.89 285,390,522.86 231,926,218.55 106,789,794.87 102,186,345.99 - - - - 1-1-249

629,443,695.42 525,798,105.20 316,002,270.24 161,999,777.36 4,211,826.43 14,722,258.43-26,480,000.00 32,901,015.37 6,968,855.62 1,078,765.89 207,288.57 - - - - 6,669,211.76 5,392,400.00 - - 1,258,343.34 2,220,686.97 379,067.45 467,528.68 45,040,396.90 29,304,201.02 1,457,833.34 27,154,817.25 674,484,092.32 555,102,306.22 317,460,103.58 189,154,594.61 2009-06-30 2008-12-31 2007-12-31 2006-12-31 145,000,000.00 165,000,000.00 74,151,134.52 63,359,111.19 19,188,486.79 10,313,822.07 69,385,110.06 48,728,532.91 60,979,473.29 27,853,613.75 3,733,709.44 724,593.28 438,603.06 87,772.07 8,755,414.62 12,203,927.01 7,648,608.43 1,687,917.60 261,075.00 445,087.50 6,988,227.70 3,589,498.75 24,000,084.88 51,613,499.13 - - 50,000,000.00-12,885,770.47 13,039,145.99-637,680.00 321,160,441.81 307,089,896.63 162,255,256.45 92,194,304.62 70,000,000.00 - - 50,000,000.00 70,000,000.00 - - 50,000,000.00 391,160,441.81 307,089,896.63 162,255,256.45 142,194,304.62 126,000,000.00 126,000,000.00 52,640,000.00 15,000,000.00 68,399,977.23 68,399,977.23 17,360,000.00 5,000,000.00 9,906,709.36 9,906,709.36 4,798,559.42 2,753,425.51 75,734,470.72 43,705,723.00 80,406,287.71 24,206,864.48 280,041,157.31 248,012,409.59 155,204,847.13 46,960,289.99 3,282,493.20 - - - 283,323,650.51 248,012,409.59 155,204,847.13 46,960,289.99 674,484,092.32 555,102,306.22 317,460,103.58 189,154,594.61 1-1-250

2 2009 1-6 2008 2007 2006 260,654,323.37 409,346,801.78 234,778,645.87 124,347,898.34 138,089,980.19 189,383,103.42 127,521,305.54 77,164,871.10 11,019,033.23 15,053,779.93 9,044,169.21 4,720,108.94 36,414,438.69 63,136,206.41 26,744,897.67 14,318,395.09 14,840,436.04 25,591,192.30 13,110,652.07 6,613,228.16 7,094,522.23 9,005,438.69 3,447,712.12 903,055.79 9,326,368.17 19,992,753.09 1,475,614.55 700,000.00 - - - - -3,156,820.67-1,297,741.57-32,731.00-3,156,820.67-1,297,741.57 - - 40,712,724.15 85,886,586.37 53,434,294.71 19,960,970.26 2,605,371.59 4,164,285.82 4,898,823.66 3,135,616.00 105,515.97 6,113,300.50 100.00-5,515.97 44,070.95 - - 43,212,579.77 83,937,571.69 58,333,018.37 23,096,586.26 11,578,144.52 15,873,035.56 88,461.23-467,528.68 31,634,435.25 68,064,536.13 58,244,557.14 23,564,114.94 - - 579,903.93-573,965.09 32,028,747.72 68,064,536.13 58,244,557.14 23,564,114.94-394,312.47 - - - 0.25 0.57 2.43 2.36 0.25 0.57 2.43 2.36 - - - - 31,634,435.25 68,064,536.13 58,244,557.14 23,564,114.94 32,028,747.72 68,064,536.13 58,244,557.14 23,564,114.94-394,312.47 - - - 1-1-251

3 2009 1-6 2008 2007 2006 285,060,853.36 393,652,597.93 127,992,417.16 105,071,674.90 2,379,994.00 6,433,709.00 2,587,313.66 2,536,790.00 9,757,535.78 23,214,578.64 125,668,777.29 78,716,778.23 297,198,383.14 423,300,885.57 256,248,508.11 186,325,243.13 178,863,531.12 319,029,885.23 152,148,934.69 157,214,085.59 17,846,261.90 25,685,581.58 9,727,222.38 7,044,887.73 24,803,271.13 29,146,193.70 4,114,058.53 3,251,458.09 62,558,130.38 110,562,054.37 135,173,046.34 53,204,015.31 284,071,194.53 484,423,714.88 301,163,261.94 220,714,446.72 13,127,188.61-61,122,829.31-44,914,753.83-34,389,203.59 - - 26,480,000.00 7,000,000.00 - - - 32,731.00 2,000.00 3,600.00 - - 2,000.00 3,600.00 26,480,000.00 7,032,731.00 7,586,805.00 9,173,536.60 963,637.76 213,759.00-34,700,000.00 20,377,500.00 6,102,500.00 17,691,924.57-4,448,171.37 - - - - - 25,278,729.57 43,873,536.60 25,789,309.13 6,316,259.00-25,276,729.57-43,869,936.60 690,690.87 716,472.00 77,760,000.00 55,000,000.00 15,000,000.00 - - - 150,000,000.00 165,000,000.00-50,000,000.00 - - 1,035.14-150,000,000.00 242,760,000.00 55,001,035.14 65,000,000.00 100,000,000.00 50,000,000.00 - - 7,098,320.52 49,498,619.59 3,570,393.75 1,038,187.50 - - - - 1,348,921.30 2,607,857.61 - - 108,447,241.82 102,106,477.20 3,570,393.75 1,038,187.50 41,552,758.18 140,653,522.80 51,430,641.39 63,961,812.50 - - - - 29,403,217.22 35,660,756.89 7,206,578.43 30,289,080.91 80,796,298.63 45,135,541.74 37,928,963.31 7,639,882.40 110,199,515.85 80,796,298.63 45,135,541.74 37,928,963.31 1-1-252

4 2009 1-6 126,000,000.00 68,399,977.23 9,906,709.36 43,705,723.00-248,012,409.59 - - - - - - - - - - - - 126,000,000.00 68,399,977.23 9,906,709.36 43,705,723.00-248,012,409.59 - - - 32,028,747.72 3,282,493.20 35,311,240.92 - - - 32,028,747.72-394,312.47 31,634,435.25 - - - - - - () - - - 32,028,747.72-394,312.47 31,634,435.25 - - - - 3,676,805.67 3,676,805.67 1. - - - - - - 2. - - - - - - 3. - - - - 3,676,805.67 3,676,805.67 ) - - - - - - - - - - - - 126,000,000.00 68,399,977.23 9,906,709.36 75,734,470.72 3,282,493.20 283,323,650.51 1-1-253

2008 52,640,000.00 17,360,000.00 4,798,559.42 80,406,287.71 155,204,847.13 - - - - - - - - - - 52,640,000.00 17,360,000.00 4,798,559.42 80,406,287.71 155,204,847.13 73,360,000.00 51,039,977.23 5,108,149.94-36,700,564.71 92,807,562.46 - - - 68,064,536.13 68,064,536.13 - - - - - () - - - 68,064,536.13 68,064,536.13 25,920,000.00 51,840,000.00 - - 77,760,000.00 1. 25,920,000.00 51,840,000.00 - - 77,760,000.00 2.- - - - - 3. - - - - - ) - - 7,861,757.45-60,878,549.12-53,016,973.67 47,440,000.00-800,022.77-2,753,425.51-43,886,551.72-126,000,000.00 68,399,977.23 9,906,709.36 43,705,723.00 248,012,409.59 1-1-254

2007 15,000,000.00 5,000,000.00 2,753,425.51 24,206,864.48 46,960,289.99 - - - - - - - - - - 15,000,000.00 5,000,000.00 2,753,425.51 24,206,864.48 46,960,289.99 37,640,000.00 12,360,000.00 2,045,133.91 56,199,423.23 108,244,557.14 - - - 58,244,557.14 58,244,557.14 - -5,000,000.00 - - -5,000,000.00 () - -5,000,000.00-58,244,557.14 53,244,557.14 37,640,000.00 17,360,000.00 - - 55,000,000.00 1. 37,640,000.00 17,360,000.00 - - 55,000,000.00 2. - - - - - 3. - - - - - ) - - 2,045,133.91-2,045,133.91 - - - - - - 52,640,000.00 17,360,000.00 4,798,559.42 80,406,287.71 155,204,847.13 1-1-255

2006 5,000,000.00-339,617.51 3,056,557.54 8,396,175.05 - - - - - - - - - - 5,000,000.00-339,617.51 3,056,557.54 8,396,175.05 10,000,000.00 5,000,000.00 2,413,808.00 21,150,306.94 38,564,114.94 - - - 23,564,114.94 23,564,114.94-5,000,000.00 - - 5,000,000.00 () - 5,000,000.00-23,564,114.94 28,564,114.94 10,000,000.00 - - - 10,000,000.00 1. 10,000,000.00 - - - 10,000,000.00 2. - - - - - 3. - - - - - ) - - 2,413,808.00-2,413,808.00 - - - - - - 15,000,000.00 5,000,000.00 2,753,425.51 24,206,864.48 46,960,289.99 1-1-256

1 2009-06-30 2008-12-31 2007-12-31 2006-12-31 36,618,346.36 13,169,888.78 27,186,868.56 36,675,629.21 - - - - 16,333,241.77 113,054,142.80 101,892,205.30 15,709,837.19 29,979,163.18 18,308,143.41 38,351,979.25 34,759.90 9,383,315.22 9,383,315.22 - - 91,526,269.55 21,289,937.51 18,415,225.41 11,572,313.89 107,264,682.75 49,510,567.11 84,917,616.73 76,010,484.58 - - - - 291,105,018.83 224,715,994.83 270,763,895.25 140,003,024.77 149,416,666.43 117,047,230.13 16,005,938.84 26,480,000.00 4,470,642.56 3,907,113.13 162,767.66 5,873.28 446,972.05 685,349.09 353,186.18 184,829.45 154,334,281.04 121,639,692.35 16,521,892.68 26,670,702.73 445,439,299.87 346,355,687.18 287,285,787.93 166,673,727.50 1-1-257 2009-06-30 2008-12-31 2007-12-31 2006-12-31 51,829,492.48 51,930,600.63 19,188,486.79 10,313,822.07 53,596,400.31 13,892,880.91 52,427,873.29 21,572,763.75 1,560,514.02 414,891.64 331,164.77 80,998.64-1,747,417.00 9,332,552.10 5,310,128.31 1,683,866.22 12,885,770.47 13,039,145.99 9,253,067.28 17,295,518.75 22,930,879.63 39,850,341.74 - - 50,000,000.00 - - - - 637,680.00 127,377,827.56 105,905,590.01 150,188,532.79 74,139,472.42 70,000,000.00 - - 50,000,000.00 70,000,000.00 - - 50,000,000.00 197,377,827.56 105,905,590.01 150,188,532.79 124,139,472.42

126,000,000.00 126,000,000.00 52,640,000.00 15,000,000.00 68,399,977.23 68,399,977.23 17,365,938.84-9,906,709.36 9,906,709.36 4,798,559.42 2,753,425.51 43,754,785.72 36,143,410.58 62,292,756.88 24,780,829.57 248,061,472.31 240,450,097.17 137,097,255.14 42,534,255.08 445,439,299.87 346,355,687.18 287,285,787.93 166,673,727.50 2 2009 1-6 2008 2007 2006 81,368,498.78 298,832,611.36 175,609,608.09 124,347,898.34 43,356,489.78 150,387,216.23 95,693,046.31 77,164,871.10 1,156,494.10 8,426,689.50 5,788,375.06 4,720,108.94 16,933,429.57 46,119,170.32 22,684,239.04 14,284,254.09 9,894,752.11 18,614,392.65 10,235,969.88 5,786,440.30 1,156,153.16 586,964.13 3,465,133.88 907,320.33-683,508.14 521,200.91 1,250,195.43 700,000.00 - - - - -211,733.70 19,577,661.12-32,731.00-211,733.70-76,439.07 - - 9,342,954.50 93,754,638.74 36,492,648.49 20,817,634.58 1,199,102.74 2,660,522.53 2,896,156.00 3,135,616.00 101,825.97 1,693,207.49 100.00 10,440,231.27 94,721,953.78 39,388,704.49 23,953,250.58 2,828,856.13 16,106,199.24-168,356.73-184,829.45 7,611,375.14 78,615,754.54 39,557,061.22 24,138,080.03 - - - - 7,611,375.14 78,615,754.54 39,557,061.22 24,138,080.03 1-1-258

3 2009 1-6 2008 2007 2006 192,029,568.54 309,017,505.54 85,029,040.38 98,790,824.90 1,395,635.00 3,755,497.00 2,182,818.00 2,536,790.00 57,766,956.29 88,204,077.43 141,874,213.61 68,518,084.84 251,192,159.83 400,977,079.97 229,086,071.99 169,845,699.74 86,292,748.74 162,671,261.45 127,891,454.54 127,206,533.61 8,190,421.88 14,865,648.83 7,690,248.76 6,817,714.16 14,491,079.04 21,737,326.64 5,644,575.34 3,883,148.66 152,892,942.77 105,837,376.41 138,743,275.25 62,794,600.00 261,867,192.43 305,111,613.33 279,969,553.89 200,701,996.43-10,675,032.60 95,865,466.64-50,883,481.90-30,856,296.69-12,517,598.33 26,480,000.00 7,000,000.00-12,753,187.44-32,731.00 2,000.00 - - - - - - - - - - - 2,000.00 25,270,785.77 26,480,000.00 7,032,731.00 1,039,541.00 4,074,483.60 137,385.00-32,581,170.00 116,123,670.00 35,825,671.37 6,102,500.00 1-1-259

- - - - - - - - 33,620,711.00 120,198,153.60 36,514,885.00 6,102,500.00-33,618,711.00-94,927,367.83-10,034,885.00 930,231.00 77,760,000.00 55,000,000.00 10,000,000.00 - - - - 70,000,000.00 - - 50,000,000.00 - - - - 70,000,000.00 77,760,000.00 55,000,000.00 60,000,000.00-50,000,000.00 - - 1,217,625.52 40,839,644.59 3,570,393.75 1,038,187.50 1,040,173.30 1,875,434.00 - - 2,257,798.82 92,715,078.59 3,570,393.75 1,038,187.50 67,742,201.18-14,955,078.59 51,429,606.25 58,961,812.50 - - - - 23,448,457.58-14,016,979.78-9,488,760.65 29,035,746.81 13,169,888.78 27,186,868.56 36,675,629.21 7,639,882.40 36,618,346.36 13,169,888.78 27,186,868.56 36,675,629.21 1-1-260

4 2009 1-6 126,000,000.00 68,399,977.23 9,906,709.36 36,143,410.58 240,450,097.17 - - - - - - - - - - 126,000,000.00 68,399,977.23 9,906,709.36 36,143,410.58 240,450,097.17 - - - 7,611,375.14 7,611,375.14 - - - 7,611,375.14 7,611,375.14 - - - - - () - - - 7,611,375.14 7,611,375.14 - - - - - 1. - - - - - 2.- - - - - 3. - - - - - ) - - - - - - - - - - 126,000,000.00 68,399,977.23 9,906,709.36 43,754,785.72 248,061,472.31 1-1-261

2008 52,640,000.00 17,365,938.84 4,798,559.42 62,292,756.88 137,097,255.14 - - - - - - - - - - 52,640,000.00 17,365,938.84 4,798,559.42 62,292,756.88 137,097,255.14 73,360,000.00 51,034,038.39 5,108,149.94-26,149,346.30 103,352,842.03 - - - 78,615,754.54 78,615,754.54 - -5,938.84 - - -5,938.84 () - -5,938.84-78,615,754.54 78,609,815.70 25,920,000.00 51,840,000.00 - - 77,760,000.00 1. 25,920,000.00 51,840,000.00 - - 77,760,000.00 2. - - - - - 3. - - - - - ) - - 7,861,575.45-60,878,549.12-53,016,973.67 47,440,000.00-800,022.77-2,753,425.51-43,886,551.72-126,000,000.00 68,399,977.23 9,906,709.36 36,143,410.58 240,450,097.17 1-1-262

2007 15,000,000.00-2,753,425.51 24,780,829.57 42,534,255.08 - - - - - - - - - - 15,000,000.00-2,753,425.51 24,780,829.57 42,534,255.08 37,640,000.00 17,365,938.84 2,045,133.91 37,511,927.31 94,563,000.06 - - - 39,557,061.22 39,557,061.22-5,938.84 - - 5,938.84 () - 5,938.84-39,557,061.22 39,563,000.06 37,640,000.00 17,360,000.00 - - 55,000,000.00 1. 37,640,000.00 17,360,000.00 - - 55,000,000.00 2. - - - - - 3. - - - - - ) - - 2,045,133.91-2,045,133.91 - - - - - - 52,640,000.00 17,365,938.84 4,798,559.42 62,292,756.88 137,097,255.14 1-1-263

2006 5,000,000.00-339,617.51 3,056,557.54 8,396,175.05 - - - - - - - - - - 5,000,000.00-339,617.51 3,056,557.54 8,396,175.05 10,000,000.00-2,413,808.00 21,724,272.03 34,138,080.03 - - - 24,138,080.03 24,138,080.03 - - - - - () - - - 24,138,080.03 24,138,080.03 10,000,000.00 - - - 10,000,000.00 1. 10,000,000.00 - - - 10,000,000.00 2. - - - - - 3. - - - - - ) - - 2,413,808.00-2,413,808.00 - - - - - - 15,000,000.00-2,753,425.51 24,780,829.57 42,534,255.08 1-1-264

2006 2007 1 1 2006 2 15-33 < 1 - >38 [2006]3 2006 10 30 < - > [2006]18 2007 11 16 1 [2007]14 2008 8 7 2 [2008]11 [2006]136 7 - [2007]10 2007 1 1 38? 2006 2006 30-31 - 33-2006 38? 1-1-265

1 1,500.00 100% 100.00 100% 1-1-266 2006-2008 %,,, 2007-2008, 6,000.00 100% 2008 5,000.00 100% 2008 0.13 100% 2008 933.30 82% 2009 2 12006 2006 8 1, 1,500 500 2007 9 26 500 2007 9 30 2007 10 29 1,000 1,500 22007 9 2007 32008 1 2008 4 2008 5 2008

1-1-267 42009 5 2009 85% 2009 1 1 2 () ()

1-1-268 3 4,

1-1-269 A 10 B 10 C A B DVD C D 10 30 A 10 B 10 C 10 A B DVD C D 10

1-1-270 14-2 1 2 3 1 2

1 1 2 3 4 2 3 100 1 1 1-2 5 2-3 50 % 3 100 2006 1 0 1-2 3 % 1-1-271

1-1-272 2-3 10 3-5 50 5 100 1 2 3 1

1-1-273 2 ( ) ( ) 24 ( ) () 1 4

1-1-274 1 2 3 1

1-1-275 20-1 2 3 4 7-5 12-2 1 2

1-1-276 1 1 2 2 3 1 17-2 3

4 5 7-12 - 20-21 - 4 % 30 5 3.17 5 5 19 8-10 5 11.875-9.5 5 5 19 5 1-1-277

1-1-278 1 1 2 3 4 5 6 7 8 2 3

1-1-279 4 5

1-1-280 1 1 1 1 2 3 2 3 3

1-1-281 1 1 2 2 1 1 2 3 1 2

1-1-282 3 1 2 ; 3, 4 1 A B 2 5

1-1-283 1 2 6 1,,, 2 1 2004 12 200419 1

1-1-284 2 3 100

1-1-285 2 1 = + = + + 80% 10% 5

3-5 90% 100 -- % 1 2 3 4 5 2006-9-28 18 56 75 86 94 2007-8-16 39 74 93 100-2007-12-19 22 54 76 84 90 2008-4-23 39 77 91 96 98 2008-9-18 47 83 93 97 100 5 90% 2 2 35 1-1-286

1-1-287 10% 30 4 80% 24 24

= = + 30 4 20 4 10 80% 2007 % 2008 12 31 -- 2007-6-4 880.46 1,096.01 80.33 1,012.70 92.40 2007-6-15 1,150.62 1,434.17 80.23 1,520.75 106.04 2007-8-28 457.10 989.50 46.20 909.50 91.92 2007-10-16 2,698.48 2,944.55 91.64 2,787.26 94.66 2007-11-28 1,146.58 1,259.76 91.02 1,296.02 102.88 1,266.65 1,544.80 81.99 1,505.25 97.44 1-1-288

2007 80% 2008 12 31 90% % -- 20052 4% 2007.1.1-2013. 2008 3 28 12.31 [2007]74 200931 2004.1.1-2013. 5% 20052 12.31 200931 5%7% - - - - 3%2% - - - - 1-1-289

3% - - - - 1 - - - - 33% 25% 2005.1-2007.1 20052 [2006]0012 2007.1.1-2009. 12.31 [2009]31 2 2007 12 5 2007.9.4-2008. 12.31 [2007]301002 2009 1-6 : 72,888,565.30 40,422,411.63 32,466,153.67 144,924,404.28 81,461,213.97 63,463,190.31 44,597,313.79 18,543,544.59 26,053,769.20 38,141,201.24 12,780,026.79 25,361,174.45 6,456,112.55 5,763,517.80 1,592,594.75 262,140,283.37 140,427,170.19 121,983,113.18 2,655,960.00 2,337,190.00 318,770.00 259,754,323.37 138,089,980.19 121,664,343.18 2008 : 229,759,290.35 111,496,950.83 118,262,339.52 1-1-290

107,589,276.17 65,846,865.90 41,742,410.27 70,027,472.78 13,626,101.21 56,401,371.57 52,350,722.65 3,056,398.73 49,294,323.92 17,676,750.13 10,569,702.48 7,107,047.65 407,376,039.30 190,969,917.94 216,406,121.36 2,677,804.52 1,625,314.52 1,052,490.00 404,698,234.78 189,344,603.42 215,353,631.36 2007 : 106,065,035.49 68,988,613.64 37,076,421.85 82,773,905.10 51,326,429.06 31,447,476.04 27,939,705.28 7,206,262.84 20,733,442.44 11,021,973.78 180,267.10 10,841,706.68 16,917,731.50 7,025,995.74 9,891,735.76 216,778,645.87 127,521,305.54 89,257,340.33 - - - 216,778,645.87 127,521,305.54 89,257,340.33 : 2006 61,593,931.44 32,169,001.72 29,424,929.72 24,075,767.50 17,296,807.90 6,778,959.60 38,678,199.40 27,699,061.48 10,979,137.92 38,678,199.40 27,699,061.48 10,979,137.92 124,347,898.34 77,164,871.10 47,183,027.24 - - - 124,347,898.34 77,164,871.10 47,183,027.24 2009 1-6 1-1-291