<SEC-DOCUMENT>0001104659-23-102545.txt : 20230921
<SEC-HEADER>0001104659-23-102545.hdr.sgml : 20230921
<ACCEPTANCE-DATETIME>20230921061647
ACCESSION NUMBER:		0001104659-23-102545
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20230921
FILED AS OF DATE:		20230921
DATE AS OF CHANGE:		20230921

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NetEase, Inc.
		CENTRAL INDEX KEY:			0001110646
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-PREPACKAGED SOFTWARE [7372]
		IRS NUMBER:				000000000

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-30666
		FILM NUMBER:		231267683

	BUSINESS ADDRESS:	
		STREET 1:		NETEASE BUILDING, NO. 599 WANGSHANG RD
		STREET 2:		BINJIANG DISTRICT
		CITY:			HANGZHOU
		STATE:			F4
		ZIP:			310052
		BUSINESS PHONE:		86 571 8985-2070

	MAIL ADDRESS:	
		STREET 1:		NETEASE BUILDING, NO. 599 WANGSHANG RD
		STREET 2:		BINJIANG DISTRICT
		CITY:			HANGZHOU
		STATE:			F4
		ZIP:			310052

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NETEASE.COM, INC.
		DATE OF NAME CHANGE:	20040719

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NETEASE COM INC
		DATE OF NAME CHANGE:	20000330
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>tm2326530d1_6k.htm
<DESCRIPTION>FORM 6-K
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<P STYLE="margin: 0">&nbsp;</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM&nbsp;6-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REPORT OF FOREIGN PRIVATE ISSUER<BR>
PURSUANT TO RULE 13a-16 OR 15d-16 OF THE<BR>
SECURITIES EXCHANGE ACT OF 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>For the month of September&nbsp;2023</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Commission File Number: 000-30666</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NETEASE,&nbsp;INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NetEase Building, No.&nbsp;599 Wangshang Road</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Binjiang District, Hangzhou, 310052</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>People&rsquo;s Republic of China</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address of principal executive offices)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Indicate by check mark whether the registrant
files or will file annual reports under cover of Form&nbsp;20-F or Form&nbsp;40-F.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Form&nbsp;20-F&nbsp;</FONT><FONT STYLE="font-family: Wingdings">&#120;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Form&nbsp;40-F <FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Indicate
by check mark if the registrant is submitting the Form&nbsp;6-K in paper as permitted by Regulation S-T Rule&nbsp;101(b)(1): <FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Indicate
by check mark if the registrant is submitting the Form&nbsp;6-K in paper as permitted by Regulation S-T Rule&nbsp;101(b)(7): </FONT><FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Exhibits</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><A HREF="tm2326530d1_ex99-1.htm">Exhibit&nbsp;99.1 &ndash; NetEase Reports Second Quarter 2023 Unaudited Financial Results and Interim Report</A></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3">&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">NETEASE,&nbsp;INC.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;/s/ Charles Zhaoxuan Yang</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;Charles Zhaoxuan Yang</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;Chief Financial Officer</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date:</FONT></TD>
    <TD STYLE="vertical-align: top; width: 44%; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">September&nbsp;21, </FONT>2023</TD>
    <TD STYLE="vertical-align: top; width: 2%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 5%">&nbsp;</TD>
    <TD STYLE="width: 44%">&nbsp;</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>tm2326530d1_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: right; margin: 0"><B>Exhibit 99.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: -0.15in; margin: 0pt 0"><IMG SRC="tm2326530d1_ex99-1img001.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Contact for Media and Investors:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Margaret Shi</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Email: ir@service.netease.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Tel: (+86) 571-8985-3378</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: Black">Twitter: <U>https://twitter.com/NetEase_Global</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">NetEase,&nbsp;Inc. (NASDAQ: NTES and HKEX: 9999,
 &ldquo;NetEase&rdquo; or the &ldquo;Company&rdquo;) announced its unaudited financial results for the three months and six months ended
June&nbsp;30, 2023 on August&nbsp;24, 2023. The Company hereby provides its interim report to shareholders of the Company for the six
months ended June&nbsp;30, 2023 under Rule&nbsp;13.48(1)&nbsp;of the Rules&nbsp;Governing the Listing of Securities on The Stock Exchange
of Hong Kong Limited (the &ldquo;Hong Kong Listing Rules&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Second Quarter 2023 Financial Highlights</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">Net revenues were RMB24.0 billion (US$3.3 billion), an increase of 3.7% compared with the second quarter
of 2022.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">Games and related value-added services net revenues were RMB18.8 billion (US$2.6 billion), an increase
of 3.6% compared with the second quarter of 2022.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">Youdao net revenues were RMB1.2 billion (US$166.4 million), an increase of 26.2% compared with the second
quarter of 2022.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">Cloud Music net revenues were RMB1.9 billion (US$268.7 million), a decrease of 11.1% compared with the
second quarter of 2022.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">Innovative businesses and others net revenues were RMB2.1 billion (US$283.7 million), an increase of 9.9%
compared with the second quarter of 2022.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">Gross profit was RMB14.4 billion (US$2.0 billion), an increase of 11.1% compared with the second quarter
of 2022.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">Total operating expenses were RMB8.3 billion (US$1.1 billion), an increase of 4.0% compared with the second
quarter of 2022.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">Net income attributable to the Company&rsquo;s shareholders was RMB8.2 billion (US$1.1 billion). Non-GAAP
net income from continuing operations attributable to the Company&rsquo;s shareholders was RMB9.0 billion (US$1.2 billion).<SUP>[1]</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">Basic net income per share was US$0.35 (US$1.77 per ADS). Non-GAAP basic net income from continuing operations
per share was US$0.39 (US$1.93 per ADS).<SUP>[1]</SUP></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Second Quarter 2023 and Recent Operational
Highlights</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">Released new hit titles in June&nbsp;across diverse genres and strengthened global appeal:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><I>Justice</I> mobile game led China&rsquo;s iOS top grossing and download charts following its launch.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><I>Racing Master</I> ranked No.&nbsp;3 on China&rsquo;s iOS top grossing chart soon after its launch.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><I>Badlanders</I> ranked No.&nbsp;2 on China&rsquo;s iOS top download chart soon after its launch.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">Launched <I>Harry Potter: Magic Awakened</I> in the global market, including Japan, North America and
Europe.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">Achieved steady performances with longstanding flagship titles including the <I>Fantasy Westward Journey</I>
series and maintained the popularity of hit games including <I>Eggy Party</I>,&nbsp;<I>Identity V</I> and <I>Justice</I>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">Bolstered robust game pipeline with ongoing development of multiple highly anticipated games in diversified
genres.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">Delivered notable growth of subscription-based memberships for Cloud Music, driving meaningful profit
margin expansion and setting the stage for future development.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">Achieved robust year-over-year revenue growth and improved operating cash flow for Youdao, driven by the
strong performance of learning services and online marketing services.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;Our steady second quarter results reflect
our dedication to producing exceptional content across our businesses, which generated total net revenues of RMB24.0 billion, up nearly
4% year-over-year,&rdquo; said Mr.&nbsp;William Ding, Chief Executive Officer and Director of NetEase. &ldquo;Players continue to revere
our flagship <I>Fantasy Westward Journey</I> series, while embracing newer titles like <I>Eggy Party</I> that extend our reach in casual
games. The June&nbsp;releases of widely acclaimed <I>Justice</I> mobile game and <I>Racing Master</I> further showcase our endless drive
to bring players innovative, first-rate games in diversified genres. We believe that each addition to our game portfolio validates our
exceptional R&amp;D capabilities and the broad influence our ingenuity has in the marketplace, including expanding the casual game market
and altering the face of traditional MMOs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0">[1] As used in this announcement, non-GAAP net income from continuing
operations attributable to the Company&rsquo;s shareholders and non-GAAP basic and diluted net income from continuing operations per
share and per ADS are defined to exclude share-based compensation expenses. See &ldquo;Unaudited Reconciliation of GAAP and Non-GAAP
Results&rdquo; at the end of this announcement.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;In addition to games, our Cloud Music and
Youdao businesses remain on track and are generating premium content. Throughout the NetEase family, we prioritize the creation of novel
and high-quality products and services that grow our global appeal, elevate user experiences, and advance their respective industries,&rdquo;
Mr.&nbsp;Ding concluded.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Second Quarter 2023 Financial Results</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Net Revenues</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Net revenues for the second quarter of 2023 were
RMB24,011.3 million (US$3,311.3 million), compared with RMB25,046.3 million and RMB23,159.1 million for the preceding quarter and the
second quarter of 2022, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Net revenues from games and related value-added
services were RMB18,798.6 million (US$2,592.5 million) for the second quarter of 2023, compared with RMB20,065.6 million and RMB18,139.8
million for the preceding quarter and the second quarter of 2022, respectively. Net revenues from the operation of online games accounted
for approximately 91.7% of the segment&rsquo;s net revenues for the second quarter of 2023, compared with 92.7% and 92.8% for the preceding
quarter and the second quarter of 2022, respectively. Net revenues from mobile games accounted for approximately 73.6% of net revenues
from the operation of online games for the second quarter of 2023, compared with 72.3% and 66.1% for the preceding quarter and the second
quarter of 2022, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Net revenues from Youdao were RMB1,206.6 million
(US$166.4 million) for the second quarter of 2023, compared with RMB1,163.3 million and RMB956.2 million for the preceding quarter and
the second quarter of 2022, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Net revenues from Cloud Music were RMB1,948.5
million (US$268.7 million) for the second quarter of 2023, compared with RMB1,959.8 million and RMB2,191.5 million for the preceding quarter
and the second quarter of 2022, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Net revenues from innovative businesses and others
were RMB2,057.5 million (US$283.7 million) for the second quarter of 2023, compared with RMB1,857.6 million and RMB1,871.5 million for
the preceding quarter and the second quarter of 2022, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Gross Profit</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Gross profit for the second quarter of 2023 was
RMB14,375.4 million (US$1,982.5 million), compared with RMB14,896.5 million and RMB12,941.5 million for the preceding quarter and the
second quarter of 2022, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The quarter-over-quarter decrease in games and
related value-added services&rsquo; gross profit was primarily due to decreased net revenues from the operation of online games as a result
of seasonality. The year-over-year increase was primarily due to increased net revenues from the operation of online games such as <I>Eggy
Party</I>, as well as decreased royalty fees due to the termination of certain licensed games.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The quarter-over-quarter decrease in Youdao&rsquo;s
gross profit primarily resulted from decreased revenue contribution from its learning services. The year-over-year increase primarily
resulted from increased revenue contribution from its online marketing services and learning services.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The quarter-over-quarter and year-over-year increases
in Cloud Music&rsquo;s gross profit primarily resulted from increased net revenues from sales of membership subscriptions and continued
improvement in cost control measures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The quarter-over-quarter and year-over-year increases
in innovative businesses and others&rsquo; gross profit were primarily due to increased e-commerce net revenues from Yanxuan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Gross Profit Margin</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Gross profit margin for games and related value-added
services for the second quarter of 2023 was 67.4%, compared with 66.7% and 64.9% for the preceding quarter and the second quarter of 2022,
respectively. The quarter-over-quarter and year-over-year increases were primarily attributable to changes in the revenue mix of NetEase&rsquo;s
self-developed, co-developed and licensed games.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Gross profit margin for Youdao for the second
quarter of 2023 was 47.0%, compared with 51.7% and 42.8% for the preceding quarter and the second quarter of 2022, respectively. The quarter-over-quarter
decrease was mainly due to the reduction in revenue contribution from its learning services which have a higher gross profit margin compared
to its other products and services. The year-over-year increase was mainly due to increased revenue contribution from its online marketing
services and learning services.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Gross profit margin for Cloud Music for the second
quarter of 2023 was 27.0%, compared with 22.4% and 13.0% for the preceding quarter and the second quarter of 2022, respectively. The quarter-over-quarter
and year-over-year improvements were mainly due to the factors enumerated above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Gross profit margin for innovative businesses
and others for the second quarter of 2023 was 29.5%, compared with 25.4% and 25.8% for the preceding quarter and the second quarter of
2022, respectively. The quarter-over-quarter and year-over-year increases were mainly due to margin improvement from Yanxuan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Operating Expenses</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Total operating expenses for the second quarter
of 2023 were RMB8,312.8 million (US$1,146.4 million), compared with RMB7,676.5 million and RMB7,995.2 million for the preceding quarter
and the second quarter of 2022, respectively. The quarter-over-quarter increase was mainly due to increased marketing and research and
development expenditures related to games and related value-added services. The year-over-year increase was mainly due to higher staff-related
costs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Other Income/ (Expenses)</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Other income/ (expenses) consisted of investment
(loss)/ income, interest income, exchange gains/ (losses) and others. The quarter-over-quarter increase was mainly due to net unrealized
exchange gains arising from the Company&rsquo;s U.S. dollar-denominated bank deposits and loans balances as the exchange rate of the U.S.
dollar against the RMB fluctuated in the second quarter of 2023. The year-over-year increase was mainly due to higher investment income
from fair value changes of equity investments with readily determinable fair value, as well as higher net unrealized exchange gains.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Income Tax</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company recorded a net income tax charge of
RMB712.1 million (US$98.2 million) for the second quarter of 2023, compared with RMB1,628.6 million and RMB1,259.3 million for the preceding
quarter and the second quarter of 2022, respectively. The effective tax rate for the second quarter of 2023 was 8.0%, compared with 19.5%
and 22.0% for the preceding quarter and the second quarter of 2022, respectively. The lower effective tax rate for the second quarter
of 2023 was primarily due to tax benefits recognized in the quarter. The effective tax rate represents certain estimates by the Company
as to the tax obligations and benefits applicable to it in each quarter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Net Income and Non-GAAP Net Income</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Net income attributable to the Company&rsquo;s
shareholders totaled RMB8,242.8 million (US$1,136.7 million) for the second quarter of 2023, compared with RMB6,754.6 million and RMB5,291.5
million for the preceding quarter and the second quarter of 2022, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">NetEase reported basic net income of US$0.35 per
share (US$1.77 per ADS) for the second quarter of 2023, compared with US$0.29 per share (US$1.45 per ADS) and US$0.22 per share (US$1.11
per ADS) for the preceding quarter and the second quarter of 2022, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Non-GAAP net income from continuing operations
attributable to the Company&rsquo;s shareholders totaled RMB9,017.5 million (US$1,243.6 million) for the second quarter of 2023, compared
with RMB7,566.2 million and RMB5,409.8 million for the preceding quarter and the second quarter of 2022, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">NetEase reported non-GAAP basic net income from
continuing operations of US$0.39 per share (US$1.93 per ADS) for the second quarter of 2023, compared with US$0.32 per share (US$1.62
per ADS) and US$0.23 per share (US$1.14 per ADS) for the preceding quarter and the second quarter of 2022, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Other Financial Information</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of June&nbsp;30, 2023, the Company&rsquo;s
total cash and cash equivalents, current and non-current time deposits and restricted cash, as well as short-term investments balance,
minus short-term and long-term loans, totaled RMB99.6 billion (US$13.7 billion), compared with RMB95.6 billion as of December&nbsp;31,
2022. Cash flow generated from operating activities was RMB7.7 billion (US$1.1 billion) for the second quarter of 2023, compared with
RMB6.0 billion and RMB6.6 billion for the preceding quarter and the second quarter of 2022, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Quarterly Dividend</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On August&nbsp;24, 2023, the board of directors
has approved a dividend of US$0.1050 per share (US$0.5250 per ADS) for the second quarter of 2023 to holders of ordinary shares and holders
of ADSs as of the close of business on September&nbsp;8, 2023, Beijing/Hong Kong Time and New York Time, respectively (&ldquo;Record Date&rdquo;),
payable in U.S. dollars. The Company&rsquo;s announcement dated September&nbsp;10, 2023 (Beijing/Hong Kong Time) announced that such Record
Date in Hong Kong for holders of ordinary shares was changed from September&nbsp;8, 2023 to September&nbsp;11, 2023. For holders of ordinary
shares, in order to qualify for the dividend, all valid documents for the transfer of shares accompanied by the relevant share certificates
must be lodged for registration with the Company&rsquo;s Hong Kong branch share registrar, Computershare Hong Kong Investor Services Limited,
at Shops 1712-1716, 17<SUP>th</SUP> Floor, Hopewell Centre, 183 Queen&rsquo;s Road East, Wanchai, Hong Kong no later than 4:30 p.m.&nbsp;on
September&nbsp;11, 2023 (Beijing/ Hong Kong Time). Such Record Date for the holders of American depositary shares held by The Bank of
New York Mellon was not affected and remained September&nbsp;8, 2023. The payment date is expected to be September&nbsp;19, 2023 for holders
of ordinary shares, and on or around September&nbsp;22, 2023 for holders of ADSs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">NetEase paid a dividend of US$0.0930 per share
(US$0.4650 per ADS) for the first quarter of 2023 in June&nbsp;2023.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Under the Company&rsquo;s current dividend policy,
the determination to make dividend distributions and the amount of such distribution in any particular quarter will be made at the discretion
of its board of directors and will be based upon the Company&rsquo;s operations and earnings, cash flow, financial condition and other
relevant factors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Share Repurchase Program</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On November&nbsp;17, 2022, the Company announced
that its board of directors had approved a new share repurchase program of up to US$5.0 billion of the Company&rsquo;s ADSs and ordinary
shares in open market transactions. This share repurchase program commenced on January&nbsp;10, 2023 following the completion of the prior
program on January&nbsp;9, 2023, and will be in effect for a period not to exceed 36 months from such date. As of June&nbsp;30, 2023,
approximately 6.1 million ADSs had been repurchased under this program for a total cost of US$536.4 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The extent to which NetEase repurchases its ADSs
and its ordinary shares depends upon a variety of factors, including market conditions. These programs may be suspended or discontinued
at any time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">** The United States dollar (US$) amounts disclosed
in this announcement are presented solely for the convenience of the reader. The percentages stated are calculated based on RMB.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>About NetEase,&nbsp;Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">NetEase,&nbsp;Inc. (NASDAQ: NTES and HKEX: 9999,
 &ldquo;NetEase&rdquo;) is a leading internet and game services provider centered around premium content. With extensive offerings across
its expanding gaming ecosystem, the Company develops and operates some of the most popular and longest running mobile and PC games available
in China and globally.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Powered by one of the largest in-house game R&amp;D
teams focused on mobile, PC and console, NetEase creates superior gaming experiences, inspires players, and passionately delivers value
for its thriving community worldwide. By infusing play with culture, and education with technology, NetEase transforms gaming into a meaningful
vehicle to build a more entertaining and enlightened world.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Beyond games, NetEase service offerings include
its majority-controlled subsidiaries <I>Youdao</I> (NYSE: DAO), an intelligent learning company with industry-leading technology, and
<I>Cloud Music</I> (HKEX: 9899), a well-known online music platform featuring a vibrant content community, as well as <I>Yanxuan</I>,
NetEase&rsquo;s private label consumer lifestyle brand.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">NetEase&rsquo;s market-leading ESG initiatives
are among the most recognized in the global media and entertainment industry, earning it inclusion in 2022 Dow Jones Sustainability World
Index, 2022 Dow Jones Sustainability Emerging Markets Index, and 2023 Bloomberg Gender-Equality Index, as well as receiving an &ldquo;A&rdquo;
rating from MSCI. For more information, please visit: <U>http://ir.netease.com/</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Forward Looking Statements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This announcement contains statements of a forward-looking
nature. These statements are made under the &ldquo;safe harbor&rdquo; provisions of the U.S. Private Securities Litigation Reform Act
of 1995. You can identify these forward-looking statements by terminology such as &ldquo;will,&rdquo; &ldquo;expects,&rdquo; &ldquo;anticipates,&rdquo;
 &ldquo;future,&rdquo; &ldquo;intends,&rdquo; &ldquo;plans,&rdquo; &ldquo;believes,&rdquo; &ldquo;estimates&rdquo; and similar statements.
In addition, statements that are not historical facts, including statements about NetEase&rsquo;s strategies and business plans, its expectations
regarding the growth of its business and its revenue and the quotations from management in this announcement are or contain forward-looking
statements. NetEase may also make forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the
 &ldquo;SEC&rdquo;), in announcements made on the website of The Stock Exchange of Hong Kong Limited (the &ldquo;Hong Kong Stock Exchange&rdquo;),
in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. The
accuracy of these statements may be impacted by a number of business risks and uncertainties that could cause actual results to differ
materially from those projected or anticipated, including risks related to: the risk that the online games market will not continue to
grow or that NetEase will not be able to maintain its position in that market in China or globally; risks associated with NetEase&rsquo;s
business and operating strategies and its ability to implement such strategies; NetEase&rsquo;s ability to develop and manage its operations
and business; competition for, among other things, capital, technology and skilled personnel; potential changes in government regulation
that could adversely affect the industry and geographical markets in which NetEase operates; the risk that NetEase may not be able to
continuously develop new and creative online services or that NetEase will not be able to set, or follow in a timely manner, trends in
the market; the risk related to economic uncertainty and capital market disruption; the risk related to the expansion of NetEase&rsquo;s
businesses and operations internationally; and the risk that fluctuations in the value of the Renminbi with respect to other currencies
could adversely affect NetEase&rsquo;s business and financial results. Further information regarding these and other risks is included
in NetEase&rsquo;s filings with the SEC and announcements on the website of the Hong Kong Stock Exchange. NetEase does not undertake any
obligation to update this forward-looking information, except as required under applicable law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Non-GAAP Financial Measures</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">NetEase considers and uses non-GAAP financial
measures, such as non-GAAP net income from continuing operations attributable to the Company&rsquo;s shareholders and non-GAAP basic and
diluted net income from continuing operations per ADS and per share, as supplemental metrics in reviewing and assessing its operating
performance and formulating its business plan. The presentation of non-GAAP financial measures is not intended to be considered in isolation
or as a substitute for the financial information prepared and presented in accordance with accounting principles generally accepted in
the United States of America (&ldquo;U.S. GAAP&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">NetEase defines non-GAAP net income from continuing
operations attributable to the Company&rsquo;s shareholders as net income from continuing operations attributable to the Company&rsquo;s
shareholders excluding share-based compensation expenses. Non-GAAP net income from continuing operations attributable to the Company&rsquo;s
shareholders enables NetEase&rsquo;s management to assess its operating results without considering the impact of share-based compensation
expenses. NetEase believes that these non-GAAP financial measures provide useful information to investors in understanding and evaluating
the Company&rsquo;s current operating performance and prospects in the same manner as management does, if they so choose. NetEase also
believes that the use of this non-GAAP financial measure facilitates investors&rsquo; assessment of its operating performance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Non-GAAP financial measures are not defined under
U.S. GAAP and are not presented in accordance with U.S. GAAP. Non-GAAP financial measures have limitations as analytical tools. One of
the key limitations of using non-GAAP net income from continuing operations attributable to the Company&rsquo;s shareholders is that it
does not reflect all items of expense/ income that affect our operations. Share-based compensation expenses have been and may continue
to be incurred in NetEase&rsquo;s business and are not reflected in the presentation of non-GAAP net income from continuing operations
attributable to the Company&rsquo;s shareholders. In addition, the non-GAAP financial measures NetEase uses may differ from the non-GAAP
measures used by other companies, including peer companies, and therefore their comparability may be limited.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">NetEase compensates for these limitations by reconciling
non-GAAP net income from continuing operations attributable to the Company&rsquo;s shareholders to the nearest U.S. GAAP performance measure,
all of which should be considered when evaluating the Company&rsquo;s performance. See &ldquo;Unaudited Reconciliation of GAAP and Non-GAAP
Results&rdquo; at the end of this announcement. NetEase encourages you to review its financial information in its entirety and not rely
on a single financial measure.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">NETEASE, INC.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS</P>

<P STYLE="text-align: left; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">(in thousands)</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center">December 31,</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center">June 30,</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center">June 30,</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2022</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2023</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2023</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="text-align: center; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: center">RMB</TD><TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="text-align: center; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: center">RMB</TD><TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="text-align: center; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: center">USD (Note 1)&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold">Assets</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Current assets:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; width: 60%; font-size: 10pt; text-align: left">Cash and cash equivalents</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">24,889,000</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">12,766,270</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">1,760,549</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; font-size: 10pt; text-align: left">Time deposits</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">84,947,679</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">90,195,524</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">12,438,532</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; font-size: 10pt; text-align: left">Restricted cash</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2,699,055</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2,912,852</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">401,701</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; font-size: 10pt; text-align: left">Accounts receivable, net</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">5,002,872</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">5,343,028</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">736,837</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; font-size: 10pt; text-align: left">Inventories</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">993,636</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">806,960</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">111,285</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; font-size: 10pt; text-align: left">Prepayments and other current assets, net</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">5,448,284</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">5,352,876</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">738,195</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; font-size: 10pt; text-align: left; padding-bottom: 1pt">Short-term investments</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">7,622,673</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">6,846,342</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">944,154</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">Total current assets</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">131,603,199</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">124,223,852</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">17,131,253</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Non-current assets:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; font-size: 10pt; text-align: left">Property, equipment and software, net</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">6,342,330</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">7,347,204</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,013,226</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; font-size: 10pt; text-align: left">Land use rights, net</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">4,121,767</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">4,147,468</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">571,962</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; font-size: 10pt; text-align: left">Deferred tax assets</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,480,789</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,320,697</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">182,132</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; font-size: 10pt; text-align: left">Time deposits</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2,973,840</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2,681,840</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">369,843</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; font-size: 10pt; text-align: left">Restricted cash</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">270</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">290</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">40</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; font-size: 10pt; text-align: left; padding-bottom: 1pt">Other long-term assets</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">26,238,790</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">28,184,371</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">3,886,803</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">Total non-current assets</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">41,157,786</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">43,681,870</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">6,024,006</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 2.5pt">Total assets</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">172,760,985</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">167,905,722</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">23,155,259</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">Liabilities, Redeemable Noncontrolling Interests and Shareholders&rsquo; Equity</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: justify">Current liabilities:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; font-size: 10pt; text-align: left">Accounts payable</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,507,141</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">740,607</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">102,134</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; font-size: 10pt; text-align: left">Salary and welfare payables</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">4,732,941</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">3,386,236</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">466,983</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; font-size: 10pt; text-align: left">Taxes payable</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2,813,096</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2,560,047</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">353,047</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; font-size: 10pt; text-align: left">Short-term loans</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">23,875,704</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">11,881,623</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,638,551</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; font-size: 10pt; text-align: left">Contract liabilities</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">12,518,890</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">12,943,844</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,785,038</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; font-size: 10pt; text-align: left; padding-bottom: 1pt">Accrued liabilities and other payables</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">11,381,075</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">10,826,617</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1,493,060</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">Total current liabilities</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">56,828,847</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">42,338,974</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">5,838,813</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: justify">Non-current liabilities:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; font-size: 10pt; text-align: left">Deferred tax liabilities</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2,126,120</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2,209,583</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">304,715</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; font-size: 10pt; text-align: left">Long-term loans</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">3,654,964</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">3,953,664</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">545,235</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; font-size: 10pt; text-align: left; padding-bottom: 1pt">Other long-term liabilities</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1,277,574</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1,137,672</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">156,892</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">Total non-current liabilities</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">7,058,658</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">7,300,919</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1,006,842</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">Total liabilities</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">63,887,505</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">49,639,893</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">6,845,655</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: justify">Redeemable noncontrolling interests</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">136,440</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">135,415</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">18,675</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">NetEase, Inc.&rsquo;s shareholders&rsquo; equity</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">104,731,317</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">114,264,783</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">15,757,834</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">Noncontrolling interests</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">4,005,723</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">3,865,631</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">533,095</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">Total equity</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">108,737,040</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">118,130,414</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">16,290,929</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 2.5pt">Total liabilities, redeemable noncontrolling interests and
    shareholders&rsquo; equity</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">172,760,985</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">167,905,722</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">23,155,259</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">The accompanying notes are an integral part of this announcement.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">NETEASE, INC.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME</P>

<P STYLE="text-align: left; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">(in thousands, except per share data or per ADS data)</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="font-size: 8pt; vertical-align: bottom">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; white-space: nowrap; font-size: 8pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="14" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">Three
    Months Ended</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 8pt; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="10" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">Six
    Months Ended</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 8pt; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; white-space: nowrap; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 8pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">June
    30,</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 8pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">March
    31,</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 8pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">June
    30,</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 8pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">June
    30,</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 8pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">June
    30,</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 8pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">June
    30,</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 8pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">June
    30,</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; white-space: nowrap; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">2022</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 8pt; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">2023</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 8pt; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">2023</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 8pt; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">2023</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 8pt; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">2022</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 8pt; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">2023</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 8pt; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">2023</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 8pt; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; white-space: nowrap; font-size: 8pt; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 8pt; text-align: center"><FONT STYLE="color: Black">RMB</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 8pt; text-align: center"><FONT STYLE="color: Black">RMB</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 8pt; text-align: center"><FONT STYLE="color: Black">RMB</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 8pt; text-align: center"><FONT STYLE="color: Black">USD (Note 1)</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 8pt; text-align: center"><FONT STYLE="color: Black">RMB</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 8pt; text-align: center"><FONT STYLE="color: Black">RMB</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 8pt; text-align: center"><FONT STYLE="color: Black">USD (Note 1)</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; width: 37%; font-size: 8pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">Net revenues</FONT></TD><TD STYLE="width: 1%; font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 6%; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">23,159,078</FONT></TD><TD STYLE="width: 1%; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 6%; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">25,046,287</FONT></TD><TD STYLE="width: 1%; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 6%; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">24,011,301</FONT></TD><TD STYLE="width: 1%; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 6%; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">3,311,310</FONT></TD><TD STYLE="width: 1%; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 6%; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">46,714,920</FONT></TD><TD STYLE="width: 1%; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 6%; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">49,057,588</FONT></TD><TD STYLE="width: 1%; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 6%; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">6,765,351</FONT></TD><TD STYLE="width: 1%; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font-size: 8pt; font-weight: bold; text-align: left; padding-bottom: 1pt"><FONT STYLE="color: Black">Cost of revenues</FONT></TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">(10,217,587</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(10,149,741</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(9,635,888</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(1,328,851</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(20,937,050</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(19,785,629</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(2,728,563</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font-size: 8pt; font-weight: bold; text-align: left; padding-bottom: 1pt"><FONT STYLE="color: Black">Gross profit</FONT></TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">12,941,491</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">14,896,546</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">14,375,413</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">1,982,459</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">25,777,870</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">29,271,959</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">4,036,788</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font-size: 8pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font-size: 8pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">Operating expenses:</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">Selling and marketing expenses</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">(3,300,705</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(2,905,046</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(3,271,705</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(451,188</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(6,216,194</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(6,176,751</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(851,813</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">General and administrative expenses</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">(1,112,755</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(1,021,678</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(1,132,147</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(156,130</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(2,128,524</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(2,153,825</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(297,026</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font-size: 8pt; text-align: left; padding-bottom: 1pt"><FONT STYLE="color: Black">Research and development expenses</FONT></TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">(3,581,700</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(3,749,732</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(3,908,907</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(539,063</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(6,979,782</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(7,658,639</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(1,056,175</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font-size: 8pt; text-align: left; padding-bottom: 1pt"><FONT STYLE="color: Black">Total operating expenses</FONT></TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">(7,995,160</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(7,676,456</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(8,312,759</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(1,146,381</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(15,324,500</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(15,989,215</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(2,205,014</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font-size: 8pt; font-weight: bold; text-align: left; padding-bottom: 1pt"><FONT STYLE="color: Black">Operating profit</FONT></TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">4,946,331</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">7,220,090</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">6,062,654</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">836,078</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">10,453,370</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">13,282,744</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">1,831,774</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font-size: 8pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font-size: 8pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">Other income/ (expenses):</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">Investment(loss)/ income, net</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">(707,489</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">471,368</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">287,691</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">39,674</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(1,256,191</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">759,059</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">104,679</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">Interest income, net</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">505,991</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">776,030</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">935,578</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">129,022</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">964,235</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">1,711,608</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">236,042</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">Exchange gains/ (losses), net</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">865,283</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(386,568</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">1,464,956</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">202,027</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">767,403</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">1,078,388</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">148,717</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font-size: 8pt; text-align: left; padding-bottom: 1pt"><FONT STYLE="color: Black">Other, net</FONT></TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">121,175</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">258,033</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">120,826</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">16,663</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">337,505</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">378,859</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">52,247</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font-size: 8pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">Income before tax</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">5,731,291</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">8,338,953</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">8,871,705</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">1,223,464</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">11,266,322</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">17,210,658</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">2,373,459</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font-size: 8pt; text-align: left; padding-bottom: 1pt"><FONT STYLE="color: Black">Income tax</FONT></TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">(1,259,320</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(1,628,559</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(712,090</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(98,202</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(2,478,591</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(2,340,649</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(322,790</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font-size: 8pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">Net income from continuing operations</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">4,471,971</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">6,710,394</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">8,159,615</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">1,125,262</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">8,787,731</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">14,870,009</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">2,050,669</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font-size: 8pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">Net income from discontinued operations</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">624,864</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">624,864</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font-size: 8pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">Net income</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">5,096,835</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">6,710,394</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">8,159,615</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">1,125,262</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">9,412,595</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">14,870,009</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">2,050,669</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font-size: 8pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">Accretion of redeemable noncontrolling interests</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">(754</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(860</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(868</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(120</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(1,487</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(1,728</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(238</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font-size: 8pt; text-align: left; padding-bottom: 1pt"><FONT STYLE="color: Black">Net loss attributable to noncontrolling
interests</FONT></TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">195,395</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">45,100</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">84,020</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">11,587</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">274,391</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">129,120</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">17,806</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font-size: 8pt; font-weight: bold; text-align: left; padding-bottom: 2.5pt"><FONT STYLE="color: Black">Net income attributable
    to the Company&rsquo;s shareholders</FONT></TD><TD STYLE="font-size: 8pt; padding-bottom: 2.5pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">5,291,476</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; padding-bottom: 2.5pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">6,754,634</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; padding-bottom: 2.5pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">8,242,767</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; padding-bottom: 2.5pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">1,136,729</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; padding-bottom: 2.5pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">9,685,499</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; padding-bottom: 2.5pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">14,997,401</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; padding-bottom: 2.5pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">2,068,237</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font-size: 8pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">Including:</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">-Net income from continuing operations attributable
    to the Company&rsquo;s shareholders</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">4,666,612</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">6,754,634</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">8,242,767</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">1,136,729</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">9,060,635</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">14,997,401</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">2,068,237</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">-Net income from discontinued operations attributable
    to the Company&rsquo;s shareholders</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">624,864</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">624,864</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font-size: 8pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">Basic net income per share *</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">1.62</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">2.10</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">2.56</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">0.35</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">2.96</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">4.66</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">0.64</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">-Continuing operations</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">1.43</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">2.10</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">2.56</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">0.35</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">2.77</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">4.66</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">0.64</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">-Discontinued operations</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">0.19</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">0.19</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font-size: 8pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">Basic net income per ADS *</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">8.08</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">10.49</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">12.80</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">1.77</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">14.78</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">23.29</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">3.21</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">-Continuing operations</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">7.13</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">10.49</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">12.80</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">1.77</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">13.83</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">23.29</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">3.21</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">-Discontinued operations</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">0.95</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">0.95</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font-size: 8pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">Diluted net income per share *</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">1.60</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">2.07</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">2.54</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">0.35</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">2.93</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">4.61</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">0.64</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">-Continuing operations</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">1.41</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">2.07</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">2.54</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">0.35</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">2.74</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">4.61</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">0.64</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">-Discontinued operations</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">0.19</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">0.19</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font-size: 8pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">Diluted net income per ADS *</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">8.00</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">10.37</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">12.69</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">1.75</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">14.63</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">23.05</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">3.18</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">-Continuing operations</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">7.05</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">10.37</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">12.69</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">1.75</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">13.69</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">23.05</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">3.18</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">-Discontinued operations</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">0.95</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">0.94</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font-size: 8pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">Weighted average number of ordinary
    shares used in calculating net income per share *</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">Basic</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">3,274,695</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">3,221,083</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">3,218,783</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">3,218,783</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">3,275,980</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">3,219,926</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">3,219,926</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">Diluted</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">3,305,504</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">3,256,511</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">3,248,916</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">3,248,916</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">3,310,809</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">3,252,707</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">3,252,707</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">*&nbsp;&nbsp;Each ADS represents five ordinary shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">The accompanying notes are an integral part of this announcement.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">NETEASE, INC.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS</P>

<P STYLE="text-align: left; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">(in thousands)</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="font-size: 8pt; vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; padding-bottom: 1pt; font-size: 8pt; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: bold 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="14" STYLE="border-bottom: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="color: Black">Three Months Ended</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font: bold 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="10" STYLE="border-bottom: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="color: Black">Six Months Ended</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 8pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="color: Black">June 30,</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 8pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="color: Black">March 31,</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 8pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="color: Black">June 30,</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 8pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="color: Black">June 30,</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 8pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="color: Black">June 30,</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 8pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="color: Black">June 30,</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 8pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="color: Black">June 30,</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="color: Black">2022</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="color: Black">2023</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="color: Black">2023</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="color: Black">2023</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="color: Black">2022</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="color: Black">2023</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="color: Black">2023</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; white-space: nowrap; text-align: center; font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: 8pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">RMB&nbsp;&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font: 8pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: 8pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">RMB&nbsp;&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font: 8pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: 8pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">RMB&nbsp;&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font: 8pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: 8pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">USD (Note 1)</FONT></TD><TD STYLE="white-space: nowrap; font: 8pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: 8pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">RMB&nbsp;&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font: 8pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: 8pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">RMB&nbsp;&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font: 8pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 8pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">USD (Note 1) </FONT></TD><TD STYLE="white-space: nowrap; font: 8pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="color: Black">Cash flows from operating
    activities:</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; width: 37%; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">Net income</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 6%; text-align: right"><FONT STYLE="color: Black">5,096,835</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 6%; text-align: right"><FONT STYLE="color: Black">6,710,394</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 6%; text-align: right"><FONT STYLE="color: Black">8,159,615</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 6%; text-align: right"><FONT STYLE="color: Black">1,125,262</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 6%; text-align: right"><FONT STYLE="color: Black">9,412,595</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 6%; text-align: right"><FONT STYLE="color: Black">14,870,009</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 6%; text-align: right"><FONT STYLE="color: Black">2,050,669</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">Net income from discontinued operations</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(624,864</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(624,864</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">Adjustments to reconcile net income to net cash provided by operating activities:</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">Depreciation and amortization</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">609,036</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">1,082,269</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">661,363</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">91,206</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">1,375,216</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">1,743,632</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">240,458</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">Fair value changes of equity security investments</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">735,159</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(226,720</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(78,035</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(10,762</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">2,276,161</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(304,755</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(42,028</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">Impairment losses of investments and other long-term assets</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">243,085</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">47,870</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">6,602</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">248,085</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">47,870</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">6,602</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">Fair value changes of short-term investments</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(119,882</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(137,916</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(96,884</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(13,361</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(199,658</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(234,800</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(32,380</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">Share-based compensation cost</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">764,447</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">822,413</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">787,862</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">108,652</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">1,510,601</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">1,610,275</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">222,067</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">Allowance for expected credit losses</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">10,965</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">20,720</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">8,540</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">1,178</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">10,652</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">29,260</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">4,035</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">Losses/ (gains) on disposal of property, equipment and software</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">481</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(610</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">252</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">35</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">1,926</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(358</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(49</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">Unrealized exchange (gains)/ losses</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(890,066</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">385,961</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(1,466,295</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(202,211</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(792,032</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(1,080,334</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(148,985</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">Gains on disposal of long-term investments</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(5,768</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(16,382</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(2,259</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(4,000</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(22,150</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(3,055</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">Deferred income taxes</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(169,539</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">577,666</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(334,380</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(46,113</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">145,689</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">243,286</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">33,551</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">Share of results on equity method investees</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(134,569</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(95,808</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(129,292</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(17,830</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(1,046,067</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(225,100</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(31,043</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">Changes in operating assets and liabilities:</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.375in; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">Accounts receivable</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">82,282</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(1,116,282</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">770,551</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">106,264</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">294,357</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(345,731</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(47,678</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.375in; font-size: 8pt"><FONT STYLE="color: Black">Inventories</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">17,791</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">117,330</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">69,410</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">9,572</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">121,382</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">186,740</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">25,753</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.375in; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">Prepayments and other assets</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(163,612</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">125,827</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(7,233</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(997</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(733,455</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">118,594</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">16,355</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.375in; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">Accounts payable</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">48,452</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(612,939</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(115,791</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(15,968</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(43,921</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(728,730</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(100,496</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.375in; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">Salary and welfare payables</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">782,789</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(2,225,737</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">758,106</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">104,548</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(973,435</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(1,467,631</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(202,396</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.375in; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">Taxes payable</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(538,234</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">733,716</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(992,892</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(136,926</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(464,788</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(259,176</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(35,742</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.375in; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">Contract liabilities</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">279,669</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">489,991</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(41,196</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(5,681</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">201,469</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">448,795</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">61,892</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.375in; font-size: 8pt; text-align: left; padding-bottom: 1pt"><FONT STYLE="color: Black">Accrued liabilities and other payables</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">600,934</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(643,836</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(306,784</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(42,312</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">497,798</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(950,620</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(131,099</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; font-size: 8pt; text-align: left; padding-bottom: 1pt"><FONT STYLE="color: Black">Net cash provided by operating activities</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">6,631,159</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">6,000,671</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">7,678,405</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">1,058,899</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">11,213,711</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">13,679,076</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">1,886,431</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="color: Black">Cash flows from investing
    activities:</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">Purchase of property, equipment and software</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(445,054</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(652,939</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(520,544</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(71,786</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(1,194,415</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(1,173,483</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(161,831</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">Proceeds from sale of property, equipment and software</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">23,338</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">2,504</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">4,292</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">592</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">35,903</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">6,796</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">937</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">Purchase of intangible assets, content and licensed copyrights</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(85,121</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(826,682</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(283,321</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(39,072</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(228,957</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(1,110,003</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(153,076</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">Net change in short-term investments with terms of three
months or less</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(159,173</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(723,151</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">1,630,013</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">224,789</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">1,551,672</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">906,862</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">125,062</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">Purchase of short-term investments with terms over three
months</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(1,250,000</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">Proceeds from maturities of short-term investments with
    terms over three months</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">1,459,172</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">104,269</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">2,013,003</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">104,269</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">14,379</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">Investment in long-term investments</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(899,968</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(1,229,048</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(270,228</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(37,266</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(2,590,239</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(1,499,276</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(206,760</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">Proceeds from disposal of long-term investments</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">6,413</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">41,280</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">16,531</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">2,280</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">40,650</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">57,811</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">7,973</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">Placement/ rollover of matured time deposits</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(33,122,029</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(36,320,103</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(10,874,831</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(1,499,708</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(57,168,026</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(47,194,934</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(6,508,479</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">Proceeds from maturities of time deposits</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">32,100,141</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">22,332,349</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">21,918,791</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">3,022,740</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">46,799,936</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">44,251,140</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">6,102,511</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; font-size: 8pt; text-align: left; padding-bottom: 1pt"><FONT STYLE="color: Black">Change in other long-term assets</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(60,900</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(120,841</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(31,189</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(4,301</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(230,445</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(152,030</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(20,966</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in; font-size: 8pt; text-align: left; padding-bottom: 1pt"><FONT STYLE="color: Black">Net cash (used in)/ provided by investing
    activities</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(1,183,181</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(17,392,362</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">11,589,514</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="color: Black">1,598,268</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(12,220,918</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(5,802,848</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; color: red; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="color: Black">(800,250</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; color: red; text-align: left"><FONT STYLE="color: Black">)</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">The accompanying notes are an integral part of this announcement.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: left; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">NETEASE, INC.</P>

<P STYLE="text-align: left; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (CONTINUED)</P>

<P STYLE="text-align: left; font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">(in thousands)</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="font-size: 8pt; vertical-align: bottom">
    <TD STYLE="padding-left: 0.25in; text-indent: -0.125in; font-size: 8pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="14" STYLE="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">Three
    Months Ended</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="10" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">Six
    Months Ended</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 8pt; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom">
    <TD STYLE="padding-left: 0.25in; text-indent: -0.125in; white-space: nowrap; font-size: 8pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 8pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">June
    30,</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 8pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">March
    31,</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 8pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">June
    30,</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 8pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">June
    30,</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 8pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">June
    30,</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 8pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">June
    30,</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 8pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">June
    30,</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom">
    <TD STYLE="padding-left: 0.25in; text-indent: -0.125in; white-space: nowrap; font-size: 8pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">2022</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 8pt; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">2023</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 8pt; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">2023</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 8pt; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">2023</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 8pt; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">2022</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 8pt; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">2023</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 8pt; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center"><FONT STYLE="color: Black">2023</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 8pt; font-weight: bold"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom">
    <TD STYLE="padding-left: 0.25in; text-indent: -0.125in; white-space: nowrap; font-size: 8pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 8pt; text-align: center"><FONT STYLE="color: Black">RMB</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 8pt; text-align: center"><FONT STYLE="color: Black">RMB</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 8pt; text-align: center"><FONT STYLE="color: Black">RMB</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 8pt; text-align: center"><FONT STYLE="color: Black">USD (Note 1)</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 8pt; text-align: center"><FONT STYLE="color: Black">RMB</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 8pt; text-align: center"><FONT STYLE="color: Black">RMB</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 8pt; text-align: center"><FONT STYLE="color: Black">USD (Note 1)</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font-size: 8pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">Cash
    flows from financing activities:</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.25in; text-indent: -0.125in; width: 37%; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">Net
    changes from loans with terms of three months or less</FONT></TD><TD STYLE="width: 1%; font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 6%; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">2,721,487</FONT></TD><TD STYLE="width: 1%; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 6%; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">2,638,040</FONT></TD><TD STYLE="width: 1%; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 8pt; color: #FF0000"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 6%; font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(14,970,935</FONT></TD><TD STYLE="width: 1%; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="width: 1%; font-size: 8pt; color: #FF0000"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 6%; font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(2,064,586</FONT></TD><TD STYLE="width: 1%; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="width: 1%; font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 6%; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">6,124,682</FONT></TD><TD STYLE="width: 1%; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 8pt; color: #FF0000"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 6%; font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(12,332,895</FONT></TD><TD STYLE="width: 1%; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="width: 1%; font-size: 8pt; color: #FF0000"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="width: 6%; font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(1,700,784</FONT></TD><TD STYLE="width: 1%; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.25in; text-indent: -0.125in; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">Proceed of loans
    with terms over three months</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">1,641,708</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">1,279,559</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">2,171,541</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">299,469</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">3,556,918</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">3,451,100</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">475,928</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.25in; text-indent: -0.125in; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">Payment of loans
    with terms over three months</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(32,273</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(40,422</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(3,233,500</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(445,920</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(32,273</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(3,273,922</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(451,494</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.25in; text-indent: -0.125in; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">Net Amounts
    received/ (paid) related to capital contribution from or repurchase of noncontrolling interests shareholders</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">33,200</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">24,349</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">22,228</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">3,065</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(68,842</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">46,577</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">6,423</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.25in; text-indent: -0.125in; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">Cash paid for
    repurchase of NetEase&rsquo;s ADSs/ purchase of subsidiaries&rsquo; ADSs and shares</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(2,119,613</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(2,116,757</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(2,195,210</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(302,733</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(3,363,530</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(4,311,967</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(594,647</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.25in; text-indent: -0.125in; font-size: 8pt; text-align: left; padding-bottom: 1pt"><FONT STYLE="color: Black">Dividends
    paid to NetEase&rsquo;s shareholders</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(1,403,637</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(1,212,340</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(2,119,316</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(292,267</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(3,087,109</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(3,331,656</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(459,456</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.25in; text-indent: -0.125in; font-size: 8pt; text-align: left; padding-bottom: 1pt"><FONT STYLE="color: Black">Net
    cash provided by/ (used in) financing activities</FONT></TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">840,872</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">572,429</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(20,325,192</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(2,802,972</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">3,129,846</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(19,752,763</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(2,724,030</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.25in; text-indent: -0.125in; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.25in; text-indent: -0.125in; font-size: 8pt; text-align: left; padding-bottom: 1pt"><FONT STYLE="color: Black">Effect
    of exchange rate changes on cash, cash equivalents and restricted cash held in foreign currencies</FONT></TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">74,898</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">15,498</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(47,876</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(6,602</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">53,696</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(32,378</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(4,465</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">Net increase/
    (decrease) in cash, cash equivalents and restricted cash</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">6,363,748</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(10,803,764</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(1,105,149</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(152,407</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">2,176,335</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(11,908,913</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: right"><FONT STYLE="color: Black">(1,642,314</FONT></TD><TD STYLE="font-size: 8pt; color: #FF0000; text-align: left"><FONT STYLE="color: Black">)</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font-size: 8pt; font-weight: bold; text-align: left; padding-bottom: 1pt"><FONT STYLE="color: Black">Cash,
    cash equivalents and restricted cash, at the beginning of the period</FONT></TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">13,188,702</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">27,588,325</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">16,784,561</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">2,314,697</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">17,376,115</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">27,588,325</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">3,804,604</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font-size: 8pt; font-weight: bold; text-align: left; padding-bottom: 2.5pt"><FONT STYLE="color: Black">Cash,
    cash equivalents and restricted cash, at end of the period</FONT></TD><TD STYLE="font-size: 8pt; padding-bottom: 2.5pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">19,552,450</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; padding-bottom: 2.5pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">16,784,561</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; padding-bottom: 2.5pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">15,679,412</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; padding-bottom: 2.5pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">2,162,290</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; padding-bottom: 2.5pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">19,552,450</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; padding-bottom: 2.5pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">15,679,412</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; padding-bottom: 2.5pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 8pt; text-align: right"><FONT STYLE="color: Black">2,162,290</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.25in; text-indent: -0.125in; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font-size: 8pt; font-weight: bold; text-align: left"><FONT STYLE="color: Black">Supplemental
    disclosures of cash flow information:</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.25in; text-indent: -0.125in; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">Cash paid for
    income tax, net</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">1,055,096</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">1,074,579</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">1,625,045</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">224,104</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">2,570,426</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">2,699,624</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">372,295</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.25in; text-indent: -0.125in; font-size: 8pt; text-align: left"><FONT STYLE="color: Black">Cash paid for
    interest expense</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">93,079</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">275,714</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">326,646</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">45,047</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">130,820</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">602,360</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="color: Black">83,069</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="color: Black">&nbsp;</FONT></TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">The accompanying notes are an integral part of this announcement.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Split-Segment; Name: 2 -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>NETEASE,&nbsp;INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>UNAUDITED SEGMENT INFORMATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(in thousands, except percentages)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="14" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt">Three
    Months Ended</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="10" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt">Six
    Months Ended</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt">June 30,</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt">March 31,</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt">June 30,</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt">June 30,</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt">June 30,</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt">June 30,</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt">June 30,</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt">2022</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt">2023</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt">2023</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt">2023</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt">2022</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt">2023</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt">2023</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 8pt">RMB</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 8pt">RMB</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 8pt">RMB</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 8pt">USD
    (Note 1)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 8pt">RMB</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 8pt">RMB</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 8pt">USD
    (Note 1)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">Net revenues:</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 37%; text-align: left"><FONT STYLE="font-size: 8pt">Games and related
    value-added services</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 6%; text-align: right"><FONT STYLE="font-size: 8pt">18,139,843</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 6%; text-align: right"><FONT STYLE="font-size: 8pt">20,065,597</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 6%; text-align: right"><FONT STYLE="font-size: 8pt">18,798,646</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 6%; text-align: right"><FONT STYLE="font-size: 8pt">2,592,452</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 6%; text-align: right"><FONT STYLE="font-size: 8pt">36,781,657</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 6%; text-align: right"><FONT STYLE="font-size: 8pt">38,864,243</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 6%; text-align: right"><FONT STYLE="font-size: 8pt">5,359,624</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">Youdao</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">956,225</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">1,163,270</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">1,206,634</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">166,402</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">2,156,766</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">2,369,904</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">326,825</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">Cloud Music</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">2,191,510</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">1,959,841</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">1,948,539</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">268,716</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">4,258,716</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">3,908,380</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">538,990</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">Innovative
    businesses and others</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">1,871,500</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">1,857,579</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">2,057,482</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">283,740</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">3,517,781</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">3,915,061</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">539,912</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">Total net
    revenues</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">23,159,078</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">25,046,287</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">24,011,301</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">3,311,310</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">46,714,920</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">49,057,588</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">6,765,351</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">Cost of revenues:</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">Games and related value-added
    services</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(6,375,598</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(6,683,048</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(6,122,836</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(844,379</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(13,427,648</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(12,805,884</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(1,766,012</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">Youdao</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(546,498</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(561,420</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(639,459</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(88,185</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(1,109,189</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(1,200,879</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(165,609</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">Cloud Music</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(1,905,954</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(1,520,378</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(1,422,855</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(196,221</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(3,721,603</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(2,943,233</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(405,890</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">Innovative
    businesses and others</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(1,389,537</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(1,384,895</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(1,450,738</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(200,066</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(2,678,610</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(2,835,633</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(391,052</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">Total cost
    of revenues</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(10,217,587</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(10,149,741</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(9,635,888</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(1,328,851</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(20,937,050</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(19,785,629</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(2,728,563</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">Gross profit:</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">Games and related value-added
    services</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">11,764,245</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">13,382,549</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">12,675,810</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">1,748,073</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">23,354,009</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">26,058,359</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">3,593,612</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">Youdao</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">409,727</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">601,850</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">567,175</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">78,217</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">1,047,577</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">1,169,025</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">161,216</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">Cloud Music</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">285,556</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">439,463</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">525,684</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">72,495</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">537,113</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">965,147</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">133,100</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">Innovative
    businesses and others</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">481,963</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">472,684</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">606,744</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">83,674</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">839,171</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">1,079,428</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">148,860</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">Total
    gross profit</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">12,941,491</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">14,896,546</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">14,375,413</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">1,982,459</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">25,777,870</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">29,271,959</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">4,036,788</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">Gross profit margin:</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">Games and related value-added
    services</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">64.9</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">%</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">66.7</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">%</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">67.4</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">%</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">67.4</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">%</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">63.5</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">%</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">67.0</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">%</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">67.0</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">Youdao</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">42.8</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">%</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">51.7</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">%</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">47.0</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">%</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">47.0</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">%</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">48.6</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">%</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">49.3</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">%</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">49.3</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">Cloud Music</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">13.0</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">%</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">22.4</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">%</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">27.0</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">%</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">27.0</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">%</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">12.6</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">%</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">24.7</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">%</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">24.7</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">Innovative businesses and others</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">25.8</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">%</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">25.4</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">%</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">29.5</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">%</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">29.5</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">%</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">23.9</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">%</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">27.6</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">%</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">27.6</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">%</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">The accompanying notes are an integral part of this announcement.</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>NETEASE,&nbsp;INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>NOTES TO UNAUDITED FINANCIAL INFORMATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Note 1: The conversion of Renminbi (RMB) into
United States dollars (USD) is based on the noon buying rate of USD1.00 = RMB7.2513 on the last trading day of June&nbsp;2023 (June&nbsp;30,
2023) as set forth in the H.10 statistical release of the U.S. Federal Reserve Board. No representation is made that the RMB amounts
could have been, or could be, converted into US$ at that rate on June&nbsp;30, 2023, or at any other certain date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Note 2: Share-based compensation cost reported
in the Company&rsquo;s unaudited condensed consolidated statements of comprehensive income is set out as follows in RMB and USD (in thousands):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: justify">&nbsp;</TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="14" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Three Months Ended</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Six Months Ended</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: justify">&nbsp;</TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center">June 30,</TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center">March 31,</TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center">June 30,</TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center">June 30,</TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center">June 30,</TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center">June 30,</TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center">June 30,</TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: justify">&nbsp;</TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">2022</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">2023</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">2023</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">2023</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">2022</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">2023</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">2023</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: justify">&nbsp;</TD><TD STYLE="white-space: nowrap; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; text-align: center">RMB</TD><TD STYLE="white-space: nowrap; font-size: 10pt">&nbsp;</TD><TD STYLE="white-space: nowrap; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; text-align: center">RMB</TD><TD STYLE="white-space: nowrap; font-size: 10pt">&nbsp;</TD><TD STYLE="white-space: nowrap; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; text-align: center">RMB</TD><TD STYLE="white-space: nowrap; font-size: 10pt">&nbsp;</TD><TD STYLE="white-space: nowrap; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; text-align: center">USD (Note 1)</TD><TD STYLE="white-space: nowrap; font-size: 10pt">&nbsp;</TD><TD STYLE="white-space: nowrap; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; text-align: center">RMB</TD><TD STYLE="white-space: nowrap; font-size: 10pt">&nbsp;</TD><TD STYLE="white-space: nowrap; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; text-align: center">RMB</TD><TD STYLE="white-space: nowrap; font-size: 10pt">&nbsp;</TD><TD STYLE="white-space: nowrap; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; text-align: center">USD (Note 1)</TD><TD STYLE="white-space: nowrap; font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Share-based compensation cost included in:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 37%; font-size: 10pt; text-align: left">Cost of revenues</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; font-size: 10pt; text-align: right">173,840</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; font-size: 10pt; text-align: right">203,514</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; font-size: 10pt; text-align: right">193,001</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; font-size: 10pt; text-align: right">26,616</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; font-size: 10pt; text-align: right">371,975</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; font-size: 10pt; text-align: right">396,515</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; font-size: 10pt; text-align: right">54,682</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Operating expenses</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; font-size: 10pt; text-align: justify">Selling and marketing expenses</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">31,817</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">32,353</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">31,069</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">4,285</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">62,190</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">63,422</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">8,746</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; font-size: 10pt; text-align: justify">General and administrative expenses</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">297,891</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">294,281</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">281,326</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">38,797</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">576,953</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">575,607</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">79,380</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; font-size: 10pt; text-align: justify">Research and development expenses</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">260,899</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">292,265</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">282,466</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">38,954</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">499,483</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">574,731</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">79,259</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The accompanying notes are an integral part of this announcement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Note 3: The financial information prepared and
presented in this announcement might be different from those published and to be published by NetEase&rsquo;s listed subsidiaries to
meet the disclosure requirements under U.S. GAAP or different accounting standards requirement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Note 4: The unaudited reconciliation of GAAP
and non-GAAP results is set out as follows in RMB and USD (in thousands, except per share data or per ADS data):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="14" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Three Months Ended</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">Six Months Ended</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt; font-weight: bold; text-align: justify">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center">June 30,</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center">March 31,</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center">June 30,</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center">June 30,</TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center">June 30,</TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center">June 30,</TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center">June 30,</TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt; font-weight: bold; text-align: justify">&nbsp;</TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">2022</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">2023</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">2023</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">2023</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">2022</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">2023</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">2023</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="white-space: nowrap; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; text-align: center">RMB</TD><TD STYLE="white-space: nowrap; font-size: 10pt">&nbsp;</TD><TD STYLE="white-space: nowrap; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; text-align: center">RMB</TD><TD STYLE="white-space: nowrap; font-size: 10pt">&nbsp;</TD><TD STYLE="white-space: nowrap; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; text-align: center">RMB</TD><TD STYLE="white-space: nowrap; font-size: 10pt">&nbsp;</TD><TD STYLE="white-space: nowrap; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; text-align: center">USD (Note 1)</TD><TD STYLE="white-space: nowrap; font-size: 10pt">&nbsp;</TD><TD STYLE="white-space: nowrap; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; text-align: center">RMB</TD><TD STYLE="white-space: nowrap; font-size: 10pt">&nbsp;</TD><TD STYLE="white-space: nowrap; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; text-align: center">RMB</TD><TD STYLE="white-space: nowrap; font-size: 10pt">&nbsp;</TD><TD STYLE="white-space: nowrap; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; text-align: center">USD (Note 1)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; width: 37%; font-size: 10pt; text-align: left">Net income&nbsp;&nbsp;from continuing operations attributable to the Company&rsquo;s shareholders</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; font-size: 10pt; text-align: right">4,666,612</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; font-size: 10pt; text-align: right">6,754,634</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; font-size: 10pt; text-align: right">8,242,767</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; font-size: 10pt; text-align: right">1,136,729</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; font-size: 10pt; text-align: right">9,060,635</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; font-size: 10pt; text-align: right">14,997,401</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 6%; font-size: 10pt; text-align: right">2,068,237</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt; text-align: left; padding-bottom: 1pt">Add: Share-based compensation</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">743,198</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">811,600</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">774,683</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">106,834</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1,466,801</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1,586,283</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">218,758</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt; text-align: left; padding-bottom: 2.5pt">Non-GAAP net income from continuing operations attributable to
    the Company&rsquo;s shareholders</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">5,409,810</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">7,566,234</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">9,017,450</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">1,243,563</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">10,527,436</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">16,583,684</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">2,286,995</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt; text-align: left">Non-GAAP basic net income from continuing operations per share *</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1.65</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2.35</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2.80</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">0.39</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">3.21</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">5.15</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">0.71</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt; text-align: left">Non-GAAP basic net income from continuing operations per ADS *</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">8.26</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">11.74</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">14.01</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1.93</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">16.07</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">25.75</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">3.55</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt; text-align: left">Non-GAAP diluted net income from continuing operations per share *</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1.64</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2.32</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2.78</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">0.38</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">3.18</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">5.10</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">0.70</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt; text-align: left">Non-GAAP diluted net income from continuing operations per ADS *</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">8.18</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">11.62</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">13.88</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1.91</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">15.90</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">25.49</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">3.52</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">* Each ADS represents five ordinary shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The accompanying notes are an integral part of this announcement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Note 5: Reconciliation between U.S. GAAP and
International Financial Reporting Standards</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company&rsquo;s consolidated financial statements
for its primary listing in the United States are prepared in accordance with U.S. GAAP. As a secondary listed issuer of the Hong Kong
Stock Exchange, the Company is required to include a reconciliation statement in its annual financial statements starting from the first
full financial year commencing on or after January&nbsp;1, 2022, and in all subsequent annual and interim financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the interim reporting with the Hong Kong
Stock Exchange for the six months ended June&nbsp;30, 2023, the Company has prepared the reconciliation statement of the unaudited
condensed consolidated statements of income for the six months ended June&nbsp;30, 2023 and the unaudited condensed consolidated
balance sheets as at June&nbsp;30, 2023 between the accounting policies adopted of the relevant period in accordance with U.S. GAAP
and the International Financial Reporting Standards (the &ldquo;IFRSs&rdquo;) issued by the International Accounting Standards Board
(together, the &ldquo;Reconciliation Statement&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">PricewaterhouseCoopers, the auditor of the
Company in Hong Kong, has performed a limited assurance engagement on the Reconciliation Statement in accordance with International
Standard on Assurance Engagements 3000 (Revised) &ldquo;Assurance Engagements Other Than Audits or Reviews of Historical Financial
Information&rdquo;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The unaudited condensed consolidated
financial information is prepared in accordance with U.S. GAAP, which differ in certain respects from IFRSs. The effects of material
differences between the unaudited condensed consolidated financial information prepared under U.S. GAAP and IFRSs are as follows in
RMB (in thousands):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Reconciliation of unaudited condensed consolidated
statements of income (Extract):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; white-space: nowrap; font-size: 10pt">&nbsp;</TD><TD STYLE="white-space: nowrap; font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif">For the Six Months Ended June 30, 2022 IFRSs adjustments</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="white-space: nowrap; font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; text-align: center; white-space: nowrap; font-size: 10pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; white-space: nowrap; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center">Amounts as<BR>
 reported under U.S.</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; white-space: nowrap; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; white-space: nowrap; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center">Investments measured at fair<BR>
 value</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; white-space: nowrap; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; white-space: nowrap; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center">Redeemable<BR> preferred shares</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; white-space: nowrap; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; white-space: nowrap; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center">Amounts as <BR>
reported under</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; white-space: nowrap; padding-bottom: 1pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font-size: 10pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center; font: bold 10pt Times New Roman, Times, Serif">GAAP</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: italic 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: italic 10pt Times New Roman, Times, Serif; text-align: center">(Note (a))</TD><TD STYLE="font: italic 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: italic 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: italic 10pt Times New Roman, Times, Serif; text-align: center">(Note (b))</TD><TD STYLE="font: italic 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center; font: bold 10pt Times New Roman, Times, Serif">IFRSs</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font: 10pt Times New Roman, Times, Serif; width: 28%; text-align: left">Investment (loss)/income, net</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 15%; text-align: right">(1,256,191</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 15%; text-align: right">423,616</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 15%; text-align: right">-</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 15%; text-align: right">(832,575</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font: bold 10pt Times New Roman, Times, Serif; text-align: left">Income before tax</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">11,266,322</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">423,616</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">11,689,938</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font: 10pt Times New Roman, Times, Serif; text-align: left">Income tax</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(2,478,591</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(915</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(2,479,506</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font: bold 10pt Times New Roman, Times, Serif; text-align: left">Net income</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">9,412,595</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">422,701</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">9,835,296</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font: 10pt Times New Roman, Times, Serif; text-align: left">Accretion of redeemable noncontrolling interests</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(1,487</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">1,487</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font: 10pt Times New Roman, Times, Serif; text-align: left">Net loss attributable to noncontrolling interests</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">274,391</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(5,116</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">269,275</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Net income attributable to the Company&rsquo;s shareholders</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">9,685,499</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">422,701</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">(3,629</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">10,104,571</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>


<P STYLE="margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; white-space: nowrap; font-size: 10pt">&nbsp;</TD><TD STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid">For the Six Months Ended June 30, 2023 IFRSs adjustments</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="white-space: nowrap; font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt">&nbsp;</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; text-align: center; white-space: nowrap; font-size: 10pt">&nbsp;</TD><TD STYLE="text-align: center; white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center">Amounts as<BR>
 reported under U.S.</TD><TD STYLE="text-align: center; white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="text-align: center; white-space: nowrap; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center">Investments measured at fair<BR>
 value</TD><TD STYLE="text-align: center; white-space: nowrap; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="text-align: center; white-space: nowrap; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center">Redeemable<BR> preferred shares</TD><TD STYLE="text-align: center; white-space: nowrap; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="text-align: center; white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center">Amounts as <BR>
reported under</TD><TD STYLE="text-align: center; white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font-size: 10pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; font: bold 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid">GAAP</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: italic 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: italic 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">(Note (a))</TD><TD STYLE="padding-bottom: 1pt; font: italic 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: italic 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: italic 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">(Note (b))</TD><TD STYLE="padding-bottom: 1pt; font: italic 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; font: bold 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid">IFRSs</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; width: 28%; font: 10pt Times New Roman, Times, Serif; text-align: left">Investment income, net</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 15%; font: 10pt Times New Roman, Times, Serif; text-align: right">759,059</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 15%; font: 10pt Times New Roman, Times, Serif; text-align: right">694,453</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 15%; font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 15%; font: 10pt Times New Roman, Times, Serif; text-align: right">1,453,512</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font: bold 10pt Times New Roman, Times, Serif; text-align: left">Income before tax</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">17,210,658</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">694,453</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">17,905,111</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font: 10pt Times New Roman, Times, Serif; text-align: left">Income tax</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(2,340,649</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">15,289</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(2,325,360</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font: bold 10pt Times New Roman, Times, Serif; text-align: left">Net income</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">14,870,009</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">709,742</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">15,579,751</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font: 10pt Times New Roman, Times, Serif; text-align: left">Accretion of redeemable noncontrolling interests</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(1,728</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">1,728</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font: 10pt Times New Roman, Times, Serif; text-align: left">Net loss attributable to noncontrolling interests</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">129,120</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(3,879</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">125,241</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in; font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Net income attributable to the Company&rsquo;s shareholders</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">14,997,401</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">709,742</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">(2,151</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">15,704,992</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Reconciliation of unaudited condensed consolidated
balance sheets (Extract):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">As of December 31, 2022 IFRSs adjustments</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; white-space: nowrap; font-size: 10pt">&nbsp;</TD><TD STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Amounts as<BR> reported under U.S.</TD><TD STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif; text-align: center">Investments measured at fair<BR> value</TD><TD STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif; text-align: center">Redeemable<BR> preferred shares</TD><TD STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Amounts as<BR> reported under</TD><TD STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">GAAP</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: italic 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: italic 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">(Note (a))</TD><TD STYLE="padding-bottom: 1pt; font: italic 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: italic 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: italic 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">(Note (b))</TD><TD STYLE="padding-bottom: 1pt; font: italic 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">IFRSs</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; width: 28%; font: 10pt Times New Roman, Times, Serif; text-align: left">Other long-term assets</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 15%; font: 10pt Times New Roman, Times, Serif; text-align: right">26,238,790</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 15%; font: 10pt Times New Roman, Times, Serif; text-align: right">(13,305,116</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 15%; font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 15%; font: 10pt Times New Roman, Times, Serif; text-align: right">12,933,674</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif; text-align: left">Financial assets at fair value through profit or loss</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">16,445,317</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">16,445,317</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Total Assets</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">172,760,985</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">3,140,201</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">175,901,186</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif">Redeemable preferred shares</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">168,215</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">168,215</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif; text-align: left">Deferred tax liabilities</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">2,126,120</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">27,969</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">2,154,089</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Total Liabilities</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">63,887,505</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">27,969</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">168,215</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">64,083,689</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font: bold 10pt Times New Roman, Times, Serif; text-align: left">Redeemable noncontrolling interests</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">136,440</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">(136,440</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Total equity</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">108,737,040</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">3,112,232</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">(31,775</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">111,817,497</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Total liabilities, redeemable
    noncontrolling interests and shareholders&rsquo; equity</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">172,760,985</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">3,140,201</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">175,901,186</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  </TABLE>


<P STYLE="margin: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">As of June 30, 2023 IFRSs adjustments</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; white-space: nowrap; font-size: 10pt">&nbsp;</TD><TD STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Amounts as<BR> reported under U.S.</TD><TD STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif; text-align: center">Investments measured at fair<BR> value</TD><TD STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif; text-align: center">Redeemable<BR> preferred shares</TD><TD STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Amounts as<BR> reported under</TD><TD STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">GAAP</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: italic 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: italic 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">(Note (a))</TD><TD STYLE="padding-bottom: 1pt; font: italic 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: italic 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: italic 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">(Note (b))</TD><TD STYLE="padding-bottom: 1pt; font: italic 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">IFRSs</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; font: 10pt Times New Roman, Times, Serif; padding-left: 0.125in; width: 28%; text-align: left">Other long-term assets</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 15%; font: 10pt Times New Roman, Times, Serif; text-align: right">28,184,371</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 15%; font: 10pt Times New Roman, Times, Serif; text-align: right">(14,868,819</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 15%; font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 15%; font: 10pt Times New Roman, Times, Serif; text-align: right">13,315,552</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; font: 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-align: left">Financial assets at fair value through profit or loss</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">18,703,473</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">18,703,473</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; font: bold 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-align: left; padding-bottom: 1pt">Total Assets</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">167,905,722</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">3,834,654</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">171,740,376</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; font: 10pt Times New Roman, Times, Serif; padding-left: 0.125in">Redeemable preferred shares</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">168,215</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">168,215</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; font: 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-align: left">Deferred tax liabilities</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">2,209,583</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">12,680</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">2,222,263</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; font: bold 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-align: left; padding-bottom: 1pt">Total Liabilities</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">49,639,893</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">12,680</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">168,215</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">49,820,788</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; font: bold 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-align: left">Redeemable noncontrolling interests</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">135,415</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">(135,415</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; font: bold 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-align: left; padding-bottom: 1pt">Total equity</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">118,130,414</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">3,821,974</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">(32,800</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">121,919,588</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; font: bold 10pt Times New Roman, Times, Serif; padding-left: 0.125in; text-align: left; padding-bottom: 1pt">Total
    liabilities, redeemable noncontrolling interests and shareholders' equity</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">167,905,722</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">3,834,654</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: right">171,740,376</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Notes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Basis of Preparation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company is responsible for preparation of
the Reconciliation Statement in accordance with the relevant requirements of the Hong Kong Listing Rules and relevant guidance in HKEX-GL111-22.
The Reconciliation Statement was prepared based on the Company&rsquo;s unaudited interim condensed consolidated financial information
for the six months ended June 30, 2023 prepared under U.S. GAAP, with material adjustments made (if any) thereto in arriving at the unaudited
financial information of the Company prepared under IFRSs. The adjustments reflect the material differences between the Company&rsquo;s
accounting policies under U.S. GAAP and IFRSs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Note a. Investments measured at fair value</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Under U.S. GAAP, the investments in convertible
redeemable preferred shares and ordinary shares with preferential rights that are issued by privately-held companies and therefore without
readily determinable fair values could be accounted for using measurement alternative as an accounting policy choice. NetEase elected
the measurement alternative to record these investments at cost, less impairment, and plus or minus subsequent adjustments for observable
price changes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Under IFRSs, these investments were classified
as financial assets at fair value through profit or loss and measured at fair value with changes in fair value recognized through profit
or loss.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Note b. Redeemable Preferred Shares</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Under U.S. GAAP, SEC guidance provides for mezzanine-
equity (temporary equity) category in addition to the financial liability and permanent equity categories. The purpose of this &ldquo;in-
between&rdquo; category is to indicate that a security whose redemption is outside the control of the issuer may not be classified as
a permanent part of equity. NetEase classified the redeemable preferred shares issued by certain subsidiaries as redeemable noncontrolling
interests in the condensed consolidated balance sheets and recorded them initially at fair value, net of issuance costs. NetEase recognized
accretion to the respective redemption value of the redeemable preferred shares over the period starting from issuance date to the earliest
redemption date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Under IFRSs, there is no concept of mezzanine
or temporary equity classification. NetEase designated the redeemable preferred shares as financial liabilities at fair value through
profit or loss which are measured at fair value. Subsequent to initial recognition, the amounts of changes in fair value that were attributed
to changes in credit risk of the issuer were recognized in other comprehensive income, and the remaining amounts of changes in fair value
were recognized in the profit or loss.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
