<SEC-DOCUMENT>0001104659-23-118864.txt : 20231116
<SEC-HEADER>0001104659-23-118864.hdr.sgml : 20231116
<ACCEPTANCE-DATETIME>20231116060205
ACCESSION NUMBER:		0001104659-23-118864
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20231116
FILED AS OF DATE:		20231116
DATE AS OF CHANGE:		20231116

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:		231412326

	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>tm2330428d1_6k.htm
<DESCRIPTION>FORM 6-K
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></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>

<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>FORM&nbsp;6-K</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"></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>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 November&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&nbsp;</FONT><FONT STYLE="font-family: Wingdings">&#168;</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):&nbsp;</FONT><FONT STYLE="font-family: Wingdings">&#168;</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):&nbsp;</FONT><FONT STYLE="font-family: Wingdings">&#168;</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"></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"></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>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="tm2330428d1_ex99-1.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit&nbsp;99.1 - NetEase Reports Third Quarter 202</FONT>3 Unaudited Financial Results</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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <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">/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">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">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">November&nbsp;16, </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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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>tm2330428d1_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="margin: 0">&nbsp;</P>

<P STYLE="text-align: left; margin: 0"><IMG SRC="tm2330428d1_ex99-1sp01img01.jpg" ALT=""></P>

<P STYLE="margin: 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"><FONT STYLE="font-family: Times New Roman, Times, Serif">E</FONT>mail:
ir@service.netease.com</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">Tel:
(+86) 571-8985-</FONT>3378</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">Twitter:
</FONT><U>https://twitter.com/NetEase&#8239;Global</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"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>NetEase
Announces </B></FONT><B>Third Quarter 2023 Unaudited 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">Hangzhou, China, November&nbsp;16, 2023 - NetEase,&nbsp;Inc.
(NASDAQ: NTES and HKEX: 9999, &ldquo;NetEase&rdquo; or the &ldquo;Company&rdquo;), a leading internet and game services provider, today
announced its unaudited financial results for the third quarter ended September&nbsp;30, 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"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Third</B></FONT><B>
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: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify">Net revenues were RMB27.3 billion (US$3.7 billion), an increase of 11.6% compared with the third 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: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify">Games and related value-added services net revenues were RMB21.8 billion (US$3.0 billion), an increase
of 16.5% compared with the third 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: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify">Youdao net revenues were RMB1.5 billion (US$210.9 million), an increase of 9.7% compared with the third
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: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify">Cloud Music net revenues were RMB2.0 billion (US$270.4 million), a decrease of 16.3% compared with the
third 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: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify">Innovative businesses and others net revenues were RMB2.0 billion (US$271.2 million), a slight increase
compared with the third 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: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify">Gross profit was RMB17.0 billion (US$2.3 billion), an increase of 23.4% compared with the third 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: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify">Total operating expenses were RMB9.4 billion (US$1.3 billion), an increase of 4.5% compared with the third
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>

<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: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify">Net income attributable to the Company&rsquo;s shareholders was RMB7.8 billion (US$1.1 billion). Non-GAAP
net income from continuing operations attributable to the Company&rsquo;s shareholders was RMB8.6 billion (US$1.2 billion).<SUP>[1]</SUP></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: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify">Basic net income per share was US$0.33 (US$1.67 per ADS). Non-GAAP basic net income from continuing operations
per share was US$0.37 (US$1.84 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>Third 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: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify"><I>Justice</I> mobile game gained robust revenue and user growth, accumulating over 50 million registered
players.</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: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify"><I>Dunk City Dynasty</I>, NetEase Game&rsquo;s first self-developed basketball game, topped China&rsquo;s
iOS top-grossing chart at the end of October.</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: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify">Time-honored flagship titles, including the <I>Fantasy Westward Journey</I> series, continued to invigorate
players, and newer hit games, including <I>Eggy Party</I>,&nbsp;<I>Identity V</I> and <I>Naraka: Bladepoint</I>, maintained ongoing popularity.</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: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify">Hotly anticipated new games spanning diverse genres reached ongoing Company development milestones with
multiple high-profile titles slated for launch in 2024.</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: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify">Cloud Music considerably strengthened its music-centric membership monetization and further improved profitability.
Cloud Music continued to cultivate its music community and introduce premium offerings, including expansive content and innovative features.</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: Times New Roman, Times, Serif">&#9679;</FONT></TD><TD STYLE="text-align: justify">Youdao achieved record-high revenue, driven by growth in its learning services and online marketing services, and substantially reduced
its loss from operations as an ongoing effort.</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 robust and increasingly diversified
games portfolio led our strong results in the third quarter, with total net revenues reaching RMB27.3 billion for a year-over-year increase
of nearly 12%,&rdquo; said Mr.&nbsp;William Ding, Chief Executive Officer and Director of NetEase. &ldquo;Our flagship games continue
to win the hearts of players with fan favorites like the <I>Fantasy Westward Journey</I> series. Our newest innovative, first-rate games
in various genres, including <I>Racing Master</I>, <I>Justice</I> mobile game and <I>Dunk City Dynasty</I>, also quickly gained widespread
acclaim. The popularity of our wide-ranging newest hits highlights our exceptional talent in R&amp;D that is expanding our reach in the
casual gaming market while also pushing the boundaries of traditional MMOs, where we are bringing players all-new gaming experiences like
never before.</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"><SUP></SUP></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><SUP>[1]</SUP> 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"><FONT STYLE="font-family: Times New Roman, Times, Serif">&ldquo;In
our broader NetEase family, Cloud Music and Youdao are tracking well, delivering innovative content offerings in their respective fields.
Looking forward, creating products and content with a passion that invigorates the market and shapes resonant experiences will drive value
for our users and </FONT>for our Company,&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>Third 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"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Net
</U></FONT><U>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"><FONT STYLE="font-family: Times New Roman, Times, Serif">Net</FONT>
revenues for the third quarter of 2023 were RMB27,270.4 million (US$3,737.7 million), compared with RMB24,011.3 million and RMB24,426.8
million for the preceding quarter and the third 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"><FONT STYLE="font-family: Times New Roman, Times, Serif">Net
r</FONT>evenues from games and related value-added services were RMB21,779.9 million (US$2,985.2 million) for the third quarter of 2023,
compared with RMB18,798.6 million and RMB18,699.1 million for the preceding quarter and the third quarter of 2022, respectively. Net revenues
from the operation of online games accounted for approximately 93.7% of the segment&rsquo;s net revenues for the third quarter of 2023,
compared with 91.7% and 92.9% for the preceding quarter and the third quarter of 2022, respectively. Net revenues from mobile games accounted
for approximately 77.6% of net revenues from the operation of online games for the third quarter of 2023, compared with 73.6% and 68.6%
for the preceding quarter and the third 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"><FONT STYLE="font-family: Times New Roman, Times, Serif">Net
r</FONT>evenues from Youdao were RMB1,538.8 million (US$210.9 million) for the third quarter of 2023, compared with RMB1,206.6 million
and RMB1,402.4 million for the preceding quarter and the third 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 RMB1,973.1
million (US$270.4 million) for the third quarter of 2023, compared with RMB1,948.5 million and RMB2,357.2 million for the preceding quarter
and the third 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"><FONT STYLE="font-family: Times New Roman, Times, Serif">Net
revenues fr</FONT>om innovative businesses and others were RMB1,978.7 million (US$271.2 million) for the third quarter of 2023, compared
with RMB2,057.5 million and RMB1,968.0 million for the preceding quarter and the third 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"><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 third quarter of 2023 was
RMB16,966.3 million (US$2,325.4 million), compared with RMB14,375.4 million and RMB13,743.9 million for the preceding quarter and the
third 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"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
</FONT>quarter-over-quarter increase in games and related value-added services&rsquo; gross profit was primarily due to increased net
revenues from newly launched games such as <I>Justice</I> mobile game and <I>Racing Master</I>. The year-over-year increase was primarily
due to increased net revenues from the operation of online games such as <I>Eggy Party</I> and those newly launched titles, 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"></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">The quarter-over-quarter increase in Youdao&rsquo;s
gross profit was primarily attributable to the increase in net revenues from its learning services. The year-over-year increase primarily
resulted from increased revenue contribution from both its learning services and online marketing 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"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
</FONT>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"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
quarter-over-quarter decrease in innovative businesses and others</FONT>&rsquo; gross profit was primarily due to decreased e-commerce
gross profit from Yanxuan. The year-over-year increase was primarily due to increased gross profit from Yanxuan and several other businesses
included within the segment.</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"><FONT STYLE="font-family: Times New Roman, Times, Serif">Gross
profit margin for games and related value-added services for the third quarter of 2023 was 69.0%, compared with 67.4% and 65.0% for the
preceding quarter and the third quarter of 2022, respectively.</FONT> The quarter-over-quarter increase was primarily attributable to
changes in the revenue mix of NetEase&rsquo;s self-developed, co-developed and licensed games, as well as the relative revenue contribution
from different  channels. The year-over-year increase was mainly attributable to a higher proportion of net revenues contributed
by NetEase&rsquo;s self-developed 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"><FONT STYLE="font-family: Times New Roman, Times, Serif">Gross
profit margin for Youdao for the third quarter of 2023 was 55.9%, co</FONT>mpared with 47.0% and 54.2% for the preceding quarter and the
third quarter of 2022, respectively. The quarter-over-quarter and year-over-year increases were primarily attributable 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"><FONT STYLE="font-family: Times New Roman, Times, Serif">Gross
profit margin for Cloud Music for the third quarter of 2023 was </FONT>27.2%, compared with 27.0% and 14.2% for the preceding quarter
and the third 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"><FONT STYLE="font-family: Times New Roman, Times, Serif">Gross
profit margin for innovative businesses and others for the third quarter of 2023 was</FONT> 27.3%, compared with 29.5% and 25.5% for the
preceding quarter and the third quarter of 2022, respectively. The quarter-over-quarter and year-over-year fluctuations were mainly due
to changes in the product mix within the segment.</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>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"><FONT STYLE="font-family: Times New Roman, Times, Serif">Total
operating expenses for the third quarter of 2023 were RMB9,408.4 million (US$1,289.5 million), compared with RMB8,312.8 million and RMB9,002.1
million for the preceding quarter and the third quarter of 2022, respectively. The quarter-over-quarter increase was mainly due to increased
marketing expenditures and </FONT>staff-related costs associated with games and related value-added services. The year-over-year increase
was mainly due to higher research and development investments.</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>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
income, interest income, exchange gains/ (losses) and others. The quarter-over-quarter and year-over-year decreases were mainly due to
net unrealized exchange losses arising from the Company&rsquo;s U.S. dollar-denominated bank deposits and loan balances as the exchange
rate of the U.S. dollar against the RMB fluctuated in the third quarter of 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"><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
RMB1,290.4 million (US$176.9 million) for the third quarter of 2023, compared with RMB712.1 million and RMB1,586.7 million for the preceding
quarter and the third quarter of 2022, respectively. The effective tax rate for the third quarter of 2023 was 14.2%, compared with 8.0%
and 19.3% for the preceding quarter and the third quarter of 2022, respectively. The lower effective tax rate for the preceding quarter
was primarily due to tax benefits recognized in that 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 RMB7,836.9 million (US$1,074.1 million) for the third quarter of 2023, compared with RMB8,242.8 million and RMB6,699.4
million for the preceding quarter and the third 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$0.33 per
share (US$1.67 per ADS) for the third quarter of 2023, compared with US$0.35 per share (US$1.75 per ADS) and US$0.28 per share (US$1.41
per ADS) for the preceding quarter and the third 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"><FONT STYLE="font-family: Times New Roman, Times, Serif">Non-GAAP
net income from continuing operations attributable to the Company&rsquo;s shareholders totaled RMB8,645.2 million (US$1,184.9 million)
for the third quarter of 2023, compared with RMB9,017.5 million and RMB7,469.6 million for the preceding quarter and the third quarter
of 2022</FONT>, 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$0.37 per share (US$1.84 per ADS) for the third quarter of 2023, compared with US$0.38 per share (US$1.92 per
ADS) and US$0.31 per share (US$1.57 per ADS) for the preceding quarter and the third 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"><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"><FONT STYLE="font-family: Times New Roman, Times, Serif">As
of September&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, </FONT>totaled RMB104.4 billion (US$14.3 billion),
compared with RMB95.6 billion as of December&nbsp;31, 2022. Net cash provided by operating activities was RMB9.8 billion (US$1.3 billion)
for the third quarter of 2023, compared with RMB7.7 billion and RMB7.5 billion for the preceding quarter and the third 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"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Quarterly</B></FONT><B>
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"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
board of directors has approved a dividend of </FONT>US$0.0990 per share (US$0.4950 per ADS) for the third quarter of 2023 to holders
of ordinary shares and holders of ADSs as of the close of business on December&nbsp;1, 2023, Beijing/Hong Kong Time and New York Time,
respectively, payable in U.S. dollars. 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 December&nbsp;1, 2023 (Beijing/ Hong Kong Time). The payment date is expected
to be December&nbsp;12, 2023 for holders of ordinary shares, and on or around December&nbsp;15, 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"><FONT STYLE="font-family: Times New Roman, Times, Serif">NetEase
paid a dividend of US$</FONT>0.1050 per share (US$0.5250 per ADS) for the second quarter of 2023 in September&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; 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"><FONT STYLE="font-family: Times New Roman, Times, Serif">On
November&nbsp;17, 2022, the Company announced that its board of directors ha</FONT>d 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 September&nbsp;30, 2023, approximately 6.6 million ADSs had been repurchased under this program
for a total cost of US$587.9 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"><FONT STYLE="font-family: Times New Roman, Times, Serif">*</FONT>*
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"></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>Announcement on Change of Management</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">The Company also announced today that Mr.&nbsp;Charles
Zhaoxuan Yang has resigned from his position as Chief Financial Officer effective November&nbsp;30, 2023 for personal reasons and to subsequently
pursue other career interests. Mr.&nbsp;Yang will remain with the Company as a consultant until June&nbsp;30, 2024 to ensure a smooth
transition as the Company undertakes a search to find a successor.</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">&ldquo;We are grateful to Charles for his contributions
to NetEase over the past six years, and he has been instrumental in leading some of our largest capital market transactions, which were
key milestones in the Company&rsquo;s history. On behalf of the Board and management team,&nbsp;I wish him well in his future endeavors,&rdquo;
said Mr.&nbsp;Ding.</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">Mr.&nbsp;Yang said, &ldquo;It has been a pleasure
to have been able to work together with William, the Board and the management team to help NetEase progress to where it is now. I am committed
to ensuring a smooth transition and have full confidence in NetEase&rsquo;s prospects for sustainable growth and value creation.&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>Conference Call</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"><FONT STYLE="font-family: Times New Roman, Times, Serif">NetEase&rsquo;s
management team will host a teleconference call with a simultaneous webcast at 7:00 a.m.&nbsp;N</FONT>ew York Time on Thursday, November&nbsp;16,
2023 (Beijing/ Hong Kong Time: 8:00 p.m., Thursday, November&nbsp;16, 2023). NetEase&rsquo;s management will be on the call to discuss
the quarterly results and answer questions.</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">Interested parties may participate in the conference
call by dialing 1-914-202-3258 and providing conference ID: 10034483, 15 minutes prior to the initiation of the call. A replay of the
call will be available by dialing 1-855-883-1031 and entering PIN: 10034483. The replay will be available through November&nbsp;23, 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"><FONT STYLE="font-family: Times New Roman, Times, Serif">This
call will be webcast live and the replay will be available for 12 months. Both will be available on NetEase&rsquo;s Investor Relations
website at </FONT><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>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"><FONT STYLE="font-family: Times New Roman, Times, Serif">NetEase,&nbsp;Inc.
(NASDAQ: NTES and HKEX: 9999, &ldquo;NetEase&rdquo;) </FONT>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"><FONT STYLE="font-family: Times New Roman, Times, Serif">NetEase&rsquo;s
market-leading ESG initiatives are among the most recognized in the global media and entertainment industry, earning it inclusion in
the 2022 Dow Jones Sustainability World Index, 2022 Dow Jones Sustainability Emerging Markets Index and 2023 Bloomberg Gender</FONT>-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"><FONT STYLE="font-family: Times New Roman, Times, Serif">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</FONT>;
the risk associated with cybersecurity threats or incidents; 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"><FONT STYLE="font-family: Times New Roman, Times, Serif">NetEase
defines non-GAAP net income from continuing operations attributable to the Company</FONT>&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>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NETEASE,&nbsp;INC.</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(in
thousands)</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></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; 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">December&nbsp;31,</TD><TD STYLE="white-space: nowrap; font: bold 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">September&nbsp;30,</TD><TD STYLE="white-space: nowrap; font: bold 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">September&nbsp;30,</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; white-space: nowrap; font-size: 10pt">&nbsp;</TD><TD STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2022</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: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2023</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: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2023</TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; 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; white-space: nowrap; font-size: 10pt">&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">RMB</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">RMB</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">USD (Note 1)</TD><TD STYLE="white-space: nowrap; font: 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; font: bold 10pt Times New Roman, Times, Serif">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="text-indent: -0.125in; padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif; 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="text-indent: -0.125in; font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; width: 61%; text-align: left">Cash and cash equivalents</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: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">24,889,000</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: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">15,116,464</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: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">2,071,884</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: 0.25in; text-align: left">Time deposits</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">84,947,679</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">87,174,226</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">11,948,222</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: 0.25in; text-align: left">Restricted cash</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">2,699,055</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">3,041,312</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">416,846</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: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-align: left">Accounts receivable, net</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">5,002,872</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">6,492,193</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">889,829</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: 0.25in">Inventories</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">993,636</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">721,958</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">98,953</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: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-align: left">Prepayments and other current assets, net</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">5,448,284</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">6,483,086</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">888,581</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: 0.25in; text-align: left; padding-bottom: 1pt">Short-term investments</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">7,622,673</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">8,536,188</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">1,169,982</TD><TD STYLE="padding-bottom: 1pt; 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; padding-bottom: 1pt">Total current assets</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">131,603,199</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">127,565,427</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">17,484,297</TD><TD STYLE="padding-bottom: 1pt; 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-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: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif; 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="text-indent: -0.125in; font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-align: left">Property, equipment and software, net</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">6,342,330</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">7,582,320</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">1,039,243</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: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-align: left">Land use rights, net</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">4,121,767</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">4,109,744</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">563,287</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: 0.25in; text-align: left">Deferred tax assets</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">1,480,789</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">1,422,599</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">194,983</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: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-align: left">Time deposits</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">2,973,840</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">2,220,840</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">304,391</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: 0.25in; text-align: left">Restricted cash</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">270</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">290</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">40</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: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-align: left; padding-bottom: 1pt">Other long-term assets</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">26,238,790</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">28,673,785</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">3,930,069</TD><TD STYLE="padding-bottom: 1pt; 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; padding-bottom: 1pt">Total non-current assets</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">41,157,786</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">44,009,578</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">6,032,013</TD><TD STYLE="padding-bottom: 1pt; 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; padding-bottom: 2.5pt">Total assets</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">172,760,985</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">171,575,005</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">23,516,310</TD><TD STYLE="padding-bottom: 2.5pt; 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-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: White">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-indent: -0.25in; padding-left: 0.25in; 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="text-indent: -0.125in; padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif; 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="text-indent: -0.125in; font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-align: left">Accounts payable</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">1,507,141</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">863,331</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">118,329</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: 0.25in; text-align: left">Salary and welfare payables</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">4,732,941</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">2,833,841</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">388,410</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: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-align: left">Taxes payable</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">2,813,096</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">3,072,590</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">421,133</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: 0.25in; text-align: left">Short-term loans</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">23,875,704</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">11,221,194</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">1,537,993</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: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-align: left">Contract 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">12,518,890</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">14,188,592</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">1,944,708</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: 0.25in; text-align: left; padding-bottom: 1pt">Accrued liabilities and other payables</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">11,381,075</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">11,689,169</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">1,602,134</TD><TD STYLE="padding-bottom: 1pt; 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; padding-bottom: 1pt">Total current liabilities</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">56,828,847</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">43,868,717</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">6,012,707</TD><TD STYLE="padding-bottom: 1pt; 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-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: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif; 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="text-indent: -0.125in; font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; 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">2,005,689</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">274,903</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: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-align: left">Long-term loans</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">3,654,964</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">427,997</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">58,662</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: 0.25in; text-align: left; padding-bottom: 1pt">Other long-term liabilities</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">1,277,574</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">1,327,427</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">181,938</TD><TD STYLE="padding-bottom: 1pt; 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; padding-bottom: 1pt">Total non-current liabilities</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">7,058,658</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">3,761,113</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">515,503</TD><TD STYLE="padding-bottom: 1pt; 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; padding-bottom: 1pt">Total liabilities</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">63,887,505</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">47,629,830</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">6,528,210</TD><TD STYLE="padding-bottom: 1pt; 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-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="text-indent: -0.125in; padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif; text-align: justify">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">136,440</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">144,382</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">19,789</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-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="text-indent: -0.125in; padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif; text-align: left">NetEase,&nbsp;Inc.&rsquo;s shareholders&rsquo; equity</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">104,731,317</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">119,978,728</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">16,444,453</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: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Noncontrolling interests</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">4,005,723</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">3,822,065</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">523,858</TD><TD STYLE="padding-bottom: 1pt; 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; padding-bottom: 1pt">Total equity</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">108,737,040</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">123,800,793</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">16,968,311</TD><TD STYLE="padding-bottom: 1pt; 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-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="text-indent: -0.125in; padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt">Total liabilities, redeemable noncontrolling
    interests and shareholders&rsquo; equity</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">172,760,985</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">171,575,005</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">23,516,310</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  </TABLE>


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

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

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

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



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 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: 0.125in; white-space: nowrap; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="14" STYLE="border-bottom: Black 1pt solid; white-space: nowrap; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt">Three
    Months Ended</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="10" STYLE="border-bottom: Black 1pt solid; white-space: nowrap; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt">Nine
    Months Ended</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; white-space: nowrap; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 8pt">September&nbsp;30,</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 8pt">June&nbsp;30,</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 8pt">September&nbsp;30,</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 8pt">September&nbsp;30,</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 8pt">September&nbsp;30,</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 8pt">September&nbsp;30,</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 8pt">September&nbsp;30,</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; white-space: nowrap; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; white-space: nowrap; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt">2022</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; white-space: nowrap; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt">2023</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; white-space: nowrap; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt">2023</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; white-space: nowrap; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt">2023</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; white-space: nowrap; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt">2022</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; white-space: nowrap; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt">2023</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; white-space: nowrap; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt">2023</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; white-space: nowrap; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 8pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 8pt">RMB</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 8pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 8pt">RMB</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 8pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 8pt">RMB</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 8pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 8pt">USD
    (Note 1)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 8pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 8pt">RMB</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 8pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 8pt">RMB</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 8pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 8pt">USD
    (Note 1)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&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; width: 30%; text-align: left"><FONT STYLE="font-size: 8pt">Net
    revenues</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 7%; text-align: right"><FONT STYLE="font-size: 8pt">24,426,760</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 7%; text-align: right"><FONT STYLE="font-size: 8pt">24,011,301</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 7%; text-align: right"><FONT STYLE="font-size: 8pt">27,270,406</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 7%; text-align: right"><FONT STYLE="font-size: 8pt">3,737,720</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 7%; text-align: right"><FONT STYLE="font-size: 8pt">71,141,680</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 7%; text-align: right"><FONT STYLE="font-size: 8pt">76,327,994</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 7%; text-align: right"><FONT STYLE="font-size: 8pt">10,461,622</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: bold 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">Cost
    of revenues</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(10,682,868</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(9,635,888</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(10,304,106</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(1,412,295</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(31,619,918</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(30,089,735</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(4,124,141</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</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; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">Gross
    profit</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">13,743,892</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">14,375,413</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">16,966,300</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">2,325,425</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">39,521,762</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">46,238,259</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">6,337,481</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&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="font-size: 8pt">Operating
    expenses:</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 8pt">Selling
    and marketing expenses</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(3,768,618</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(3,271,705</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(3,567,153</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(488,919</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(9,984,812</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(9,743,904</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(1,335,513</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 8pt">General
    and administrative expenses</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(1,264,342</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(1,132,147</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(1,494,186</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(204,795</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(3,392,866</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(3,648,011</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(500,002</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">Research
    and development expenses</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(3,969,156</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(3,908,907</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(4,347,052</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(595,813</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(10,948,938</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(12,005,691</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(1,645,517</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">Total
    operating expenses</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(9,002,116</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(8,312,759</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(9,408,391</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(1,289,527</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(24,326,616</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(25,397,606</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(3,481,032</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: bold 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">Operating
    profit</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">4,741,776</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">6,062,654</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">7,557,909</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">1,035,898</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">15,195,146</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">20,840,653</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">2,856,449</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&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: 0.125in; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: bold 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 8pt">Other
    income/ (expenses):</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 8pt">Investment
    income, net</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">1,347,269</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">287,691</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">556,603</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">76,289</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">91,078</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">1,315,662</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">180,326</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 8pt">Interest
    income, net</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">556,148</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">935,578</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">1,147,227</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">157,241</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">1,520,383</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">2,858,835</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">391,836</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 8pt">Exchange
    gains/ (losses), net</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">1,398,045</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">1,464,956</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(400,483</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(54,891</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">2,165,448</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">677,905</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">92,915</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">Other,
    net</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">164,435</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">120,826</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">240,024</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">32,898</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">501,940</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">618,883</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">84,825</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&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="font-size: 8pt">Income
    before tax</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">8,207,673</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">8,871,705</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">9,101,280</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">1,247,435</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">19,473,995</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">26,311,938</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">3,606,351</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">Income
    tax</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(1,586,673</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(712,090</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(1,290,398</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(176,864</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(4,065,264</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(3,631,047</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(497,676</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</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: 0.125in; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: bold 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 8pt">Net
    income from continuing operations</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">6,621,000</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">8,159,615</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">7,810,882</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">1,070,571</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">15,408,731</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">22,680,891</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">3,108,675</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&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="font-size: 8pt">Net
    income from discontinued operations</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">624,864</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: bold 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 8pt">Net
    income</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">6,621,000</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">8,159,615</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">7,810,882</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">1,070,571</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">16,033,595</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">22,680,891</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">3,108,675</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&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: 0.125in; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 8pt">Accretion
    of redeemable noncontrolling interests</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(781</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(868</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(895</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(123</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(2,268</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(2,623</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(360</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">Net
    loss attributable to noncontrolling interests</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">79,145</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">84,020</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">26,901</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">3,687</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">353,536</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">156,021</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">21,384</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: bold 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">Net
    income attributable to the Company&rsquo;s shareholders</FONT></TD><TD STYLE="font: 8pt 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: 8pt 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: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">6,699,364</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt 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: 8pt 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: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">8,242,767</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt 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: 8pt 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: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">7,836,888</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt 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: 8pt 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: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">1,074,135</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt 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: 8pt 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: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">16,384,863</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt 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: 8pt 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: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">22,834,289</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt 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: 8pt 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: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">3,129,699</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&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"><FONT STYLE="font-size: 8pt">Including:</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 8pt">-Net
    income from continuing operations attributable to the&nbsp;&nbsp;Company&rsquo;s shareholders</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">6,699,364</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">8,242,767</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">7,836,888</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">1,074,135</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">15,759,999</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">22,834,289</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">3,129,699</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 8pt">-Net
    income from discontinued operations attributable to the Company&rsquo;s shareholders</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">624,864</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&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"><FONT STYLE="font-size: 8pt">Basic
    net income per share *</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">2.05</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">2.56</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">2.44</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">0.33</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">5.01</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">7.10</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">0.97</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 8pt">-Continuing
    operations</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">2.05</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">2.56</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">2.44</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">0.33</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">4.82</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">7.10</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">0.97</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 8pt">-Discontinued
    operations</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">0.19</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&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="font-size: 8pt">Basic
    net income per ADS *</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">10.27</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">12.80</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">12.19</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">1.67</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">25.04</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">35.48</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">4.86</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 8pt">-Continuing
    operations</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">10.27</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">12.80</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">12.19</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">1.67</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">24.09</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">35.48</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">4.86</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 8pt">-Discontinued
    operations</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">0.95</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&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"><FONT STYLE="font-size: 8pt">Diluted
    net income per share *</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">2.03</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">2.54</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">2.41</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">0.33</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">4.96</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">7.02</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">0.96</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 8pt">-Continuing
    operations</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">2.03</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">2.54</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">2.41</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">0.33</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">4.77</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">7.02</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">0.96</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 8pt">-Discontinued
    operations</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">0.19</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&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="font-size: 8pt">Diluted
    net income per ADS *</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">10.17</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">12.69</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">12.06</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">1.65</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">24.79</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">35.11</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">4.81</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 8pt">-Continuing
    operations</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">10.17</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">12.69</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">12.06</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">1.65</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">23.84</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">35.11</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">4.81</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 8pt">-Discontinued
    operations</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">0.95</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&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"><FONT STYLE="font-size: 8pt">Weighted
    average number of ordinary shares used in calculating net income per share *</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-size: 8pt">Basic</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">3,262,989</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">3,218,783</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">3,213,834</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">3,213,834</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">3,271,602</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">3,217,873</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">3,217,873</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-size: 8pt">Diluted</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">3,293,766</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">3,248,916</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">3,249,649</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">3,249,649</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">3,305,081</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">3,251,666</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">3,251,666</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  </TABLE>


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

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



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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(in
thousands)</B></FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 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: 0.125in; white-space: nowrap; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="14" STYLE="border-bottom: Black 1pt solid; white-space: nowrap; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt">Three
    Months Ended</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="10" STYLE="border-bottom: Black 1pt solid; white-space: nowrap; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt">Nine
    Months Ended</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; white-space: nowrap; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 8pt">September&nbsp;30,</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 8pt">June&nbsp;30,</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 8pt">September&nbsp;30,</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 8pt">September&nbsp;30,</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 8pt">September&nbsp;30,</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 8pt">September&nbsp;30,</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 8pt">September&nbsp;30,</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; white-space: nowrap; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; white-space: nowrap; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt">2022</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; white-space: nowrap; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt">2023</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; white-space: nowrap; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt">2023</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; white-space: nowrap; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt">2023</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; white-space: nowrap; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt">2022</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; white-space: nowrap; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt">2023</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; white-space: nowrap; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt">2023</FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; white-space: nowrap; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 8pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 8pt">RMB</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 8pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 8pt">RMB</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 8pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 8pt">RMB</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 8pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 8pt">USD
    (Note 1)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 8pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 8pt">RMB</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 8pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 8pt">RMB</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 8pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 8pt">USD
    (Note 1)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 8pt">&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="font-size: 8pt">Cash
    flows from operating activities:</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.25in; width: 30%; text-align: left"><FONT STYLE="font-size: 8pt">Net
    income</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 7%; text-align: right"><FONT STYLE="font-size: 8pt">6,621,000</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 7%; text-align: right"><FONT STYLE="font-size: 8pt">8,159,615</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 7%; text-align: right"><FONT STYLE="font-size: 8pt">7,810,882</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 7%; text-align: right"><FONT STYLE="font-size: 8pt">1,070,571</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 7%; text-align: right"><FONT STYLE="font-size: 8pt">16,033,595</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 7%; text-align: right"><FONT STYLE="font-size: 8pt">22,680,891</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 7%; text-align: right"><FONT STYLE="font-size: 8pt">3,108,675</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.25in; text-align: left"><FONT STYLE="font-size: 8pt">Net
    income from discontinued operations</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(624,864</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.25in; text-align: left"><FONT STYLE="font-size: 8pt">Adjustments
    to reconcile net income to net cash provided by operating activities:</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.25in; text-align: left"><FONT STYLE="font-size: 8pt">Depreciation
    and amortization</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">713,852</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">661,363</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">651,856</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">89,344</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">2,089,068</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">2,395,488</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">328,329</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.25in; text-align: left"><FONT STYLE="font-size: 8pt">Fair
    value changes of equity security investments</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">680,019</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(78,035</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(382,132</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(52,376</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">2,956,180</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(686,887</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(94,146</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.25in; text-align: left"><FONT STYLE="font-size: 8pt">Impairment
    losses on investments and other long-term assets</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">6,763</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">47,870</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">280,641</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">38,465</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">254,848</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">328,511</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">45,026</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.25in; text-align: left"><FONT STYLE="font-size: 8pt">Fair
    value changes of short-term investments</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(119,620</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(96,884</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(72,875</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(9,988</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(319,278</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(307,675</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(42,170</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.25in; text-align: left"><FONT STYLE="font-size: 8pt">Share-based
    compensation cost</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">786,999</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">787,862</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">819,548</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">112,328</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">2,297,600</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">2,429,823</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">333,035</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.25in; text-align: left"><FONT STYLE="font-size: 8pt">Allowance
    for expected credit losses</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">44,126</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">8,540</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">22,386</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">3,068</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">54,778</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">51,646</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">7,079</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.25in; text-align: left"><FONT STYLE="font-size: 8pt">Losses
    on disposal of property, equipment and software</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">528</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">252</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">2,649</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">363</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">2,454</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">2,291</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">314</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.25in; text-align: left"><FONT STYLE="font-size: 8pt">Unrealized
    exchange (gains)/ losses</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(1,401,893</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(1,466,295</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">362,213</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">49,645</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(2,193,925</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(718,121</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(98,427</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.25in; text-align: left"><FONT STYLE="font-size: 8pt">Gains
    on disposal of long-term investments</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(1,724,433</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(16,382</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(3,197</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(438</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(1,728,433</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(25,347</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(3,474</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.25in; text-align: left"><FONT STYLE="font-size: 8pt">Deferred
    income taxes</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(234,336</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(334,380</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(305,703</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(41,900</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(88,647</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(62,417</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(8,555</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.25in; text-align: left"><FONT STYLE="font-size: 8pt">Share
    of results on equity method investees</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(159,128</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(129,292</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(160,042</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(21,936</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(1,205,195</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(385,142</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(52,788</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.25in; text-align: left"><FONT STYLE="font-size: 8pt">Changes
    in operating assets and liabilities:</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.375in; text-align: left"><FONT STYLE="font-size: 8pt">Accounts
    receivable</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">35,786</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">770,551</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(1,177,732</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(161,422</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">330,143</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(1,523,463</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(208,808</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.375in"><FONT STYLE="font-size: 8pt">Inventories</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(88,300</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">69,410</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">84,970</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">11,646</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">33,082</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">271,710</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">37,241</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.375in; text-align: left"><FONT STYLE="font-size: 8pt">Prepayments
    and other assets</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">368,673</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(7,233</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(573,631</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(78,623</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(364,782</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(455,037</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(62,368</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.375in; text-align: left"><FONT STYLE="font-size: 8pt">Accounts
    payable</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(84,434</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(115,791</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">150,868</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">20,678</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(128,355</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(577,862</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(79,203</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.375in; text-align: left"><FONT STYLE="font-size: 8pt">Salary
    and welfare payables</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(567,676</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">758,106</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(588,217</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(80,622</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(1,541,111</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(2,055,848</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(281,777</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.375in; text-align: left"><FONT STYLE="font-size: 8pt">Taxes
    payable</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">475,245</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(992,892</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">515,087</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">70,599</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">10,457</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">255,911</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">35,076</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.375in; text-align: left"><FONT STYLE="font-size: 8pt">Contract
    liabilities</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">1,580,450</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(41,196</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">1,560,628</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">213,903</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">1,781,919</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">2,009,423</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">275,414</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.375in; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">Accrued
    liabilities and other payables</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">552,688</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(306,784</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">845,721</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">115,917</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">1,050,486</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(104,899</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(14,378</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.25in; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">Net
    cash provided by operating activities</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">7,486,309</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">7,678,405</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">9,843,920</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">1,349,222</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">18,700,020</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">23,522,996</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">3,224,095</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&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="font-size: 8pt">Cash
    flows from investing activities:</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.25in; text-align: left"><FONT STYLE="font-size: 8pt">Purchase
    of property, equipment and software</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(557,028</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(520,544</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(643,144</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(88,150</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(1,751,443</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(1,816,627</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(248,989</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.25in; text-align: left"><FONT STYLE="font-size: 8pt">Proceeds
    from sale of property, equipment and software</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">3,307</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">4,292</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">3,101</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">425</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">39,210</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">9,897</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">1,356</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.25in; text-align: left"><FONT STYLE="font-size: 8pt">Purchase
    of intangible assets, content and licensed copyrights</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(152,276</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(283,321</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(742,523</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(101,771</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(381,233</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(1,852,526</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(253,910</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.25in; text-align: left"><FONT STYLE="font-size: 8pt">Net
    change in short-term investments with terms of three months or less</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">156,475</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">1,630,013</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(1,993,921</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(273,290</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">1,708,147</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(1,087,059</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(148,994</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.25in; text-align: left"><FONT STYLE="font-size: 8pt">Purchase
    of short-term investments with terms over three months</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(1,250,000</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.25in; text-align: left"><FONT STYLE="font-size: 8pt">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="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">1,195,475</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">376,950</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">51,665</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">3,208,478</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">481,219</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">65,957</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.25in; text-align: left"><FONT STYLE="font-size: 8pt">Investment
    in long-term investments and acquisition of subsidiaries</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(844,513</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(270,228</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(417,448</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(57,216</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(3,434,752</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(1,916,724</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(262,709</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.25in; text-align: left"><FONT STYLE="font-size: 8pt">Proceeds
    from disposal of long-term investments</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">2,277,625</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">16,531</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">20,898</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">2,864</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">2,318,275</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">78,709</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">10,788</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.25in; text-align: left"><FONT STYLE="font-size: 8pt">Placement/
    rollover of matured time deposits</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(18,830,844</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(10,874,831</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(30,831,994</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(4,225,876</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(75,998,870</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(78,026,928</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(10,694,480</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.25in; text-align: left"><FONT STYLE="font-size: 8pt">Proceeds
    from maturities of time deposits</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">17,770,581</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">21,918,791</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">33,893,436</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">4,645,482</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">64,570,517</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">78,144,576</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">10,710,605</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.25in; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">Change
    in other long-term assets</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(31,782</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(31,189</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(181,263</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(24,844</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(262,227</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(333,293</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(45,682</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.25in; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">Net
    cash provided by/ (used in)&nbsp;&nbsp;investing activities</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">987,020</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">11,589,514</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(515,908</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(70,711</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(11,233,898</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(6,318,756</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(866,058</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&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="font-size: 8pt">Cash
    flows from financing activities:</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.25in; text-align: left"><FONT STYLE="font-size: 8pt">Net
    changes from loans with terms of three months or less</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(3,645,232</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(14,970,935</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(7,501,788</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(1,028,206</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">2,479,450</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(19,834,683</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(2,718,569</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.25in; text-align: left"><FONT STYLE="font-size: 8pt">Proceed
    of loans with terms over three months</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">70,691</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">2,171,541</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">7,607,060</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">1,042,634</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">3,627,609</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">11,058,160</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">1,515,647</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.25in; text-align: left"><FONT STYLE="font-size: 8pt">Payment
    of loans with terms over three months</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(50,208</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(3,233,500</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(4,250,550</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(582,586</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(82,481</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(7,524,472</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(1,031,315</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.25in; text-align: left"><FONT STYLE="font-size: 8pt">Net
    amounts received/ (paid) related to capital contribution from or repurchase of noncontrolling interests shareholders</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">14,305</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">22,228</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">11,573</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">1,586</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(54,537</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">58,150</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">7,970</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.25in; text-align: left"><FONT STYLE="font-size: 8pt">Cash
    paid for repurchase of NetEase&rsquo;s ADSs/ purchase of subsidiaries&rsquo; ADSs and shares</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(1,956,829</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(2,195,210</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(296,495</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(40,638</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(5,320,359</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(4,608,462</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(631,642</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.25in; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">Dividends
    paid to NetEase&rsquo;s shareholders</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(1,617,574</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(2,119,316</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(2,423,355</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(332,148</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(4,704,683</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(5,755,011</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(788,790</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.25in; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">Net
    cash used in&nbsp;&nbsp;financing activities</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(7,184,847</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(20,325,192</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(6,853,555</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(939,358</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(4,055,001</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(26,606,318</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(3,646,699</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</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"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.25in; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">Effect
    of exchange rate changes on cash, cash equivalents and restricted cash held in foreign currencies</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">3,470</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(47,876</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">4,197</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">575</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">57,166</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(28,181</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">(3,863</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 8pt">Net
    increase/ (decrease) in cash, cash equivalents and restricted cash</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">1,291,952</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">(1,105,149</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">2,478,654</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">339,728</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">3,468,287</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">(9,430,259</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">(1,292,525</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: bold 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">Cash,
    cash equivalents and restricted cash, at the beginning of the period</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">19,552,450</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">16,784,561</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">15,679,412</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">2,149,042</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">17,376,115</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">27,588,325</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">3,781,295</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&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; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">Cash,
    cash equivalents and restricted cash, at end of the period</FONT></TD><TD STYLE="font: 8pt 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: 8pt 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: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">20,844,402</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt 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: 8pt 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: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">15,679,412</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt 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: 8pt 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: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">18,158,066</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt 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: 8pt 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: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">2,488,770</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt 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: 8pt 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: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">20,844,402</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt 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: 8pt 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: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">18,158,066</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt 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: 8pt 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: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">2,488,770</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&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="font-size: 8pt">Supplemental
    disclosures of cash flow information:</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 8pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.25in; text-align: left"><FONT STYLE="font-size: 8pt">Cash
    paid for income tax, net</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">1,550,748</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">1,625,045</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">1,165,196</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">159,703</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">4,121,174</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">3,864,820</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">529,718</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.25in; text-align: left"><FONT STYLE="font-size: 8pt">Cash
    paid for interest expenses</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">193,329</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">326,646</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">105,665</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">14,483</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">324,149</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">708,025</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt">97,043</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  </TABLE>


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

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

<!-- Field: Page; Sequence: 3; Value: 10 -->
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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-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NETEASE,&nbsp;INC.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>UNAUDITED
SEGMENT INFORMATION</B></FONT></P>

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



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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 9pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="font-size: 9pt; vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; white-space: nowrap; font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="14" STYLE="border-bottom: Black 1pt solid; font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">Three
    Months Ended</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="10" STYLE="border-bottom: Black 1pt solid; font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">Nine
    Months Ended</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 9pt; vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; white-space: nowrap; font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">September&nbsp;30,</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">June&nbsp;30,</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">September&nbsp;30,</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">September&nbsp;30,</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">September&nbsp;30,</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">September&nbsp;30,</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">September&nbsp;30,</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 9pt; vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; white-space: nowrap; font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">2022</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">2023</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">2023</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">2023</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">2022</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">2023</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">2023</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 9pt; vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; white-space: nowrap; font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">RMB</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">RMB</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">RMB</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">USD
    (Note 1)</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">RMB</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">RMB</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">USD
    (Note 1)</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 9pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 9pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 9pt">Net
    revenues:</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 9pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; width: 30%; text-align: left"><FONT STYLE="font-size: 9pt">Games
    and related value-added services</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 7%; text-align: right"><FONT STYLE="font-size: 9pt">18,699,106</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 7%; text-align: right"><FONT STYLE="font-size: 9pt">18,798,646</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 7%; text-align: right"><FONT STYLE="font-size: 9pt">21,779,851</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 7%; text-align: right"><FONT STYLE="font-size: 9pt">2,985,177</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 7%; text-align: right"><FONT STYLE="font-size: 9pt">55,480,763</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 7%; text-align: right"><FONT STYLE="font-size: 9pt">60,644,094</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 7%; text-align: right"><FONT STYLE="font-size: 9pt">8,311,965</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 9pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-size: 9pt">Youdao</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">1,402,434</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">1,206,634</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">1,538,783</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">210,908</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">3,559,200</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">3,908,687</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">535,730</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 9pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 9pt">Cloud
    Music</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">2,357,248</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">1,948,539</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">1,973,064</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">270,431</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">6,615,964</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">5,881,444</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">806,119</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 9pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">Innovative
    businesses and others</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">1,967,972</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">2,057,482</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">1,978,708</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">271,204</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">5,485,753</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">5,893,769</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">807,808</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 9pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">Total
    net revenues</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">24,426,760</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">24,011,301</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">27,270,406</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">3,737,720</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">71,141,680</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">76,327,994</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">10,461,622</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 9pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 9pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: bold 9pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-size: 9pt">Cost
    of revenues:</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 9pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 9pt">Games
    and related value-added services</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">(6,551,193</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">)</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">(6,122,836</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">)</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">(6,749,507</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">)</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">(925,096</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">)</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">(19,978,841</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">)</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">(19,555,391</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">)</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">(2,680,290</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">)</FONT></TD></TR>
  <TR STYLE="font-size: 9pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-size: 9pt">Youdao</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">(642,254</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">)</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">(639,459</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">)</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">(679,147</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">)</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">(93,085</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">)</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">(1,751,443</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">)</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">(1,880,026</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">)</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">(257,679</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">)</FONT></TD></TR>
  <TR STYLE="font-size: 9pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 9pt">Cloud
    Music</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">(2,023,600</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">)</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">(1,422,855</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">)</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">(1,436,552</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">)</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">(196,896</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">)</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">(5,745,203</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">)</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">(4,379,785</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">)</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">(600,299</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">)</FONT></TD></TR>
  <TR STYLE="font-size: 9pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">Innovative
    businesses and others</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">(1,465,821</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 9pt">)</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">(1,450,738</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 9pt">)</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">(1,438,900</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 9pt">)</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">(197,218</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 9pt">)</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">(4,144,431</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 9pt">)</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">(4,274,533</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 9pt">)</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">(585,873</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 9pt">)</FONT></TD></TR>
  <TR STYLE="font-size: 9pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">Total
    cost of revenues</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">(10,682,868</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 9pt">)</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">(9,635,888</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 9pt">)</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">(10,304,106</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 9pt">)</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">(1,412,295</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 9pt">)</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">(31,619,918</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 9pt">)</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">(30,089,735</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 9pt">)</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">(4,124,141</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 9pt">)</FONT></TD></TR>
  <TR STYLE="font-size: 9pt; vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 9pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 9pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 9pt">Gross
    profit:</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 9pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 9pt">Games
    and related value-added services</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">12,147,913</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">12,675,810</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">15,030,344</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">2,060,081</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">35,501,922</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">41,088,703</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">5,631,675</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 9pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-size: 9pt">Youdao</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">760,180</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">567,175</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">859,636</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">117,823</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">1,807,757</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">2,028,661</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">278,051</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 9pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 9pt">Cloud
    Music</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">333,648</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">525,684</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">536,512</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">73,535</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">870,761</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">1,501,659</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">205,820</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 9pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">Innovative
    businesses and others</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">502,151</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">606,744</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">539,808</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">73,986</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">1,341,322</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">1,619,236</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">221,935</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 9pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 2.5pt"><FONT STYLE="font-size: 9pt">Total
    gross profit</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">13,743,892</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">14,375,413</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">16,966,300</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">2,325,425</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">39,521,762</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">46,238,259</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">6,337,481</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 9pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 9pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: bold 9pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 9pt">Gross
    profit margin:</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 9pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 9pt">Games
    and related value-added services</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">65.0</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">%</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">67.4</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">%</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">69.0</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">%</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">69.0</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">%</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">64.0</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">%</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">67.8</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">%</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">67.8</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">%</FONT></TD></TR>
  <TR STYLE="font-size: 9pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-size: 9pt">Youdao</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">54.2</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">%</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">47.0</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">%</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">55.9</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">%</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">55.9</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">%</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">50.8</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">%</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">51.9</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">%</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">51.9</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">%</FONT></TD></TR>
  <TR STYLE="font-size: 9pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 9pt">Cloud
    Music</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">14.2</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">%</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">27.0</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">%</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">27.2</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">%</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">27.2</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">%</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">13.2</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">%</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">25.5</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">%</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">25.5</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">%</FONT></TD></TR>
  <TR STYLE="font-size: 9pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 9pt">Innovative
    businesses and others</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">25.5</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">%</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">29.5</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">%</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">27.3</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">%</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">27.3</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">%</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">24.5</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">%</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">27.5</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">%</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">27.5</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">%</FONT></TD></TR>
  </TABLE>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
accompanying notes are an integral part of this announcement.</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"></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 = RMB7.2960 on the last trading day of September&nbsp;2023 (September&nbsp;29,
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 September&nbsp;29, 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: 9pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="font-size: 9pt; vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; white-space: nowrap; font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="14" STYLE="border-bottom: Black 1pt solid; font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">Three
    Months Ended</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="10" STYLE="border-bottom: Black 1pt solid; font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">Nine
    Months Ended</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 9pt; vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; white-space: nowrap; font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">September&nbsp;30,</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">June&nbsp;30,</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">September&nbsp;30,</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">September&nbsp;30,</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">September&nbsp;30,</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">September&nbsp;30,</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">September&nbsp;30,</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 9pt; vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; white-space: nowrap; font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">2022</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">2023</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">2023</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">2023</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">2022</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">2023</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">2023</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 9pt; vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; white-space: nowrap; font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">RMB</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">RMB</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">RMB</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">USD
    (Note 1)</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">RMB</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">RMB</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">USD
    (Note 1)</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 9pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 9pt">Share-based
    compensation cost included in:</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 9pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; width: 30%"><FONT STYLE="font-size: 9pt">Cost
    of revenues</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 7%; text-align: right"><FONT STYLE="font-size: 9pt">190,645</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 7%; text-align: right"><FONT STYLE="font-size: 9pt">193,001</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 7%; text-align: right"><FONT STYLE="font-size: 9pt">210,533</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 7%; text-align: right"><FONT STYLE="font-size: 9pt">28,856</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 7%; text-align: right"><FONT STYLE="font-size: 9pt">562,620</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 7%; text-align: right"><FONT STYLE="font-size: 9pt">607,048</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 7%; text-align: right"><FONT STYLE="font-size: 9pt">83,203</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 9pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 9pt">Operating
    expenses</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 9pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.25in; text-align: justify"><FONT STYLE="font-size: 9pt">Selling
    and marketing expenses</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">24,980</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">31,069</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">33,804</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">4,633</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">87,170</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">97,226</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">13,326</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 9pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.25in; text-align: justify"><FONT STYLE="font-size: 9pt">General
    and administrative expenses</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">288,598</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">281,326</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">280,581</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">38,457</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">865,551</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">856,188</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">117,350</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 9pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.25in; text-align: justify"><FONT STYLE="font-size: 9pt">Research
    and development expenses</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">282,776</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">282,466</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">294,630</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">40,382</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">782,259</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">869,361</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">119,156</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</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; 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; 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 requirements.</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: 9pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="font-size: 9pt; vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; white-space: nowrap; font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="14" STYLE="border-bottom: Black 1pt solid; font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">Three
    Months Ended</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="10" STYLE="border-bottom: Black 1pt solid; font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">Nine
    Months Ended</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 9pt; vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; white-space: nowrap; font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">September&nbsp;30,</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">June&nbsp;30,</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">September&nbsp;30,</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">September&nbsp;30,</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">September&nbsp;30,</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">September&nbsp;30,</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">September&nbsp;30,</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 9pt; vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; white-space: nowrap; font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">2022</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">2023</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">2023</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">2023</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">2022</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">2023</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">2023</FONT></TD><TD STYLE="font: bold 9pt Times New Roman, Times, Serif; white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 9pt; vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; white-space: nowrap; font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">RMB</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">RMB</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">RMB</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">USD
    (Note 1)</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">RMB</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">RMB</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 9pt Times New Roman, Times, Serif; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 9pt">USD
    (Note 1)</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; white-space: nowrap"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 9pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; width: 30%; text-align: left"><FONT STYLE="font-size: 9pt">Net
    income from continuing operations attributable to the Company&rsquo;s shareholders</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 7%; text-align: right"><FONT STYLE="font-size: 9pt">6,699,364</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 7%; text-align: right"><FONT STYLE="font-size: 9pt">8,242,767</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 7%; text-align: right"><FONT STYLE="font-size: 9pt">7,836,888</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 7%; text-align: right"><FONT STYLE="font-size: 9pt">1,074,135</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 7%; text-align: right"><FONT STYLE="font-size: 9pt">15,759,999</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 7%; text-align: right"><FONT STYLE="font-size: 9pt">22,834,289</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 7%; text-align: right"><FONT STYLE="font-size: 9pt">3,129,699</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 9pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">Add:
    Share-based compensation</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">770,255</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">774,683</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">808,276</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">110,783</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">2,237,056</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">2,394,559</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">328,202</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 9pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 2.5pt"><FONT STYLE="font-size: 9pt">Non-GAAP
    net income from continuing operations attributable to the Company&rsquo;s shareholders</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">7,469,619</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">9,017,450</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">8,645,164</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">1,184,918</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">17,997,055</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">25,228,848</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">3,457,901</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 9pt; vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: right"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font-size: 9pt; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 9pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 9pt">Non-GAAP
    basic net income from continuing operations per share&nbsp;*</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">2.29</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">2.80</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">2.69</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">0.37</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">5.50</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">7.84</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">1.07</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 9pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 9pt">Non-GAAP
    basic net income from continuing operations per ADS *</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">11.45</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">14.01</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">13.45</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">1.84</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">27.50</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">39.20</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">5.37</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 9pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 9pt">Non-GAAP
    diluted net income from continuing operations per share *</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">2.27</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">2.78</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">2.66</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">0.36</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">5.45</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">7.76</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">1.06</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 9pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left"><FONT STYLE="font-size: 9pt">Non-GAAP
    diluted net income from continuing operations per ADS *</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">11.34</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">13.88</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">13.30</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">1.82</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">27.23</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">38.79</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 9pt">5.32</FONT></TD><TD STYLE="font: 9pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
  </TABLE>


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

<P STYLE="font: 9pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 9pt">*&nbsp;&nbsp;Each ADS represents five ordinary shares.</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-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying notes are an integral part of this announcement.</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"></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>
