<SEC-DOCUMENT>0001104659-24-028971.txt : 20240229
<SEC-HEADER>0001104659-24-028971.hdr.sgml : 20240229
<ACCEPTANCE-DATETIME>20240229060254
ACCESSION NUMBER:		0001104659-24-028971
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20240229
FILED AS OF DATE:		20240229
DATE AS OF CHANGE:		20240229

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NetEase, Inc.
		CENTRAL INDEX KEY:			0001110646
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-PREPACKAGED SOFTWARE [7372]
		ORGANIZATION NAME:           	06 Technology
		IRS NUMBER:				000000000

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-30666
		FILM NUMBER:		24698590

	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>tm247104d1_6k.htm
<DESCRIPTION>FORM 6-K
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<P STYLE="margin: 0">&nbsp;</P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PURSUANT TO RULE 13a-16 OR 15d-16 OF THE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>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 February&nbsp;2024</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>

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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: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 14pt"><B>NETEASE,&nbsp;INC.</B></FONT></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>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>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark if the registrant is submitting the Form&nbsp;6-K
in paper as permitted by Regulation S-T Rule&nbsp;101(b)(1): <FONT STYLE="font-family: Wingdings">&#168;</FONT></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">Indicate by check mark if the registrant is submitting the Form&nbsp;6-K
in paper as permitted by Regulation S-T Rule&nbsp;101(b)(7): <FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

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

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

<P STYLE="font: 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="tm247104d1_ex99-1.htm">Exhibit&nbsp;99.1 - NetEase Announces Fourth Quarter and Fiscal Year 2023 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 CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 50%; text-align: left">&nbsp;</TD><TD STYLE="text-align: justify; width: 50%">NETEASE,&nbsp;INC.</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 50%"></TD><TD STYLE="width: 3%; text-align: left">By:</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: justify; width: 47%">/s/ William Lei Ding</TD>
</TR></TABLE>

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<TD COLSPAN="2"></TD><TD STYLE="text-align: left">Name:</TD><TD STYLE="text-align: justify">William
Lei Ding</TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
<TD COLSPAN="2">&nbsp;</TD><TD STYLE="text-align: left">Title:</TD><TD STYLE="text-align: justify">Chief
Executive Officer</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD COLSPAN="2">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 5%">Date:</TD>
<TD STYLE="border-bottom: Black 1pt solid; width: 45%"> February&nbsp;29, 2024</TD><TD STYLE="text-align: left; width: 5%">&nbsp;</TD><TD STYLE="text-align: justify; width: 45%">&nbsp;</TD></TR>
     </TABLE>

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">[Signature Page to 6-K Shell]</P>

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

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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>tm247104d1_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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<P STYLE="text-align: right; margin: 0"><B>Exhibit 99.1</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"><IMG SRC="tm247104d1_ex99-1img001.jpg" ALT="" STYLE="height: 32px; width: 166px"></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"><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">&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>Fourth Quarter and Fiscal Year 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"><FONT STYLE="font-family: Times New Roman, Times, Serif">Hangzhou,
China, February&nbsp;29, 2024 - 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 </FONT>for the fourth quarter and fiscal
year ended December&nbsp;31, 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>Fourth</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; font-size: 8pt">&#9679;</FONT></TD><TD STYLE="text-align: justify">Net revenues were RMB27.1 billion (US$3.8 billion), an increase of 7.0% compared with the fourth 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; font-size: 8pt">&#9679;</FONT></TD><TD STYLE="text-align: justify">Games and related value-added services net revenues were RMB20.9 billion (US$2.9 billion), an increase
of 9.6% compared with the fourth 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; font-size: 8pt">&#9679;</FONT></TD><TD STYLE="text-align: justify">Youdao net revenues were RMB1.5 billion (US$208.5 million), an increase of 1.8% compared with the fourth
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; font-size: 8pt">&#9679;</FONT></TD><TD STYLE="text-align: justify">Cloud Music net revenues were RMB2.0 billion (US$279.7 million), a decrease of 16.4% compared with the
fourth 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; font-size: 8pt">&#9679;</FONT></TD><TD STYLE="text-align: justify">Innovative businesses and others net revenues were RMB2.8 billion (US$387.7 million), an increase of 12.9%
compared with the fourth 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; font-size: 8pt">&#9679;</FONT></TD><TD STYLE="text-align: justify">Gross profit was RMB16.8 billion (US$2.4 billion), an increase of 27.0% compared with the fourth 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; font-size: 8pt">&#9679;</FONT></TD><TD STYLE="text-align: justify">Total operating expenses were RMB10.0 billion (US$1.4 billion), an increase of 13.0% compared with the
fourth 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; font-size: 8pt">&#9679;</FONT></TD><TD STYLE="text-align: justify">Net income attributable to the Company&rsquo;s shareholders was RMB6.6 billion (US$927.1 million). Non-GAAP
net income from continuing operations attributable to the Company&rsquo;s shareholders was RMB7.4 billion (US$1.0 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; font-size: 8pt">&#9679;</FONT></TD><TD STYLE="text-align: justify">Basic net income per share was US$0.29 (US$1.44 per ADS). Non-GAAP basic net income from continuing operations
per share was US$0.32 (US$1.62 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"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Fourth
Quarter 2023 and E</B></FONT><B>arly 2024 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; font-size: 8pt">&#9679;</FONT></TD><TD STYLE="text-align: justify">Leading franchises, such as <I>Fantasy Westward Journey</I> and <I>Westward Journey Online</I>, maintained
enduring user appeal, supported by periodic new content introductions.</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; font-size: 8pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><I>Eggy Party</I>&rsquo;s broad popularity has engaged over 500 million cumulative registered players
since its launch in 2022 and made a significant breakthrough of 40 million daily active users during the Lunar New Year.</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; font-size: 8pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><I>Justice</I> franchises reached a new milestone of 100 million active users with densely packed content
and widely embraced in-game events for 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; font-size: 8pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><I>Racing Master</I> achieved superb performances in Hong Kong, Macau and Taiwan, including topping the
local iOS download and grossing charts in Taiwan within the first week of its launch.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#9679;</FONT></TD><TD STYLE="text-align: justify">Cloud Music considerably enhanced its music-centric monetization and further improved profitability, while
continuing to cultivate its music community and introduce new premium content and 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; font-size: 8pt">&#9679;</FONT></TD><TD STYLE="text-align: justify">Youdao further improved its profitability and achieved record-high operating cash flow, driven by the
robust performance of digital content services and online marketing services.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;2023 proved to be another landmark year
for NetEase Games with continuous cross-category innovations that expand and diversify our robust game portfolio,&rdquo; said Mr.&nbsp;William
Ding, Chief Executive Officer and Director of NetEase. &ldquo;The success of games like <I>Eggy Party</I> and our heralded new titles,
such as <I>Racing Master</I> and <I>Dunk City Dynasty</I>, highlights our ability to bring players dynamic and original products in multiple
genres. At the same time, we have maintained a strategic advantage with our MMO roots, propelling <I>Justice</I> mobile game to transcend
the boundaries of conventional MMO gaming.</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;Alongside our business&rsquo;s momentum,
we have assumed increasing social responsibility. By integrating a &lsquo;Minors Mode&rsquo; across our domestic game lineup, we have
strengthened our existing anti-addiction system and continue to steer the gaming ecosystem toward a healthier trajectory with innovative
products and technology.</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; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>[1]
</SUP></FONT>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 the unaudited reconciliation of GAAP and non-GAAP results 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;Besides
games, our diverse business segments, such as Cloud Music and Youdao, remain on course, consistently delivering premium content. Throughout
the NetEase family, we prioritize the creation of novel and high-quality products and services that grow our global appeal and elevate
user experiences while pushing innovation forward,&rdquo; Mr.&nbsp;Ding concluded</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"><B>Fourth 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 fourth quarter of 2023 were RMB27.1 billion (US$3.8 billion), compared with RMB27.3 billion and RMB25.4 billion for the
preceding quarter and the fourth 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 RMB20.9 billion (US$2.9 billion) for the fourth quarter of 2023, compared
with RMB21.8 billion and RMB19.1 billion for the preceding quarter and the fourth quarter of 2022, respectively. Net revenues from the
operation of online games accounted for approximately 93.4% of the segment&rsquo;s net revenues for the fourth quarter of 2023, compared
with 93.7% and 91.8% for the preceding quarter and the fourth quarter of 2022, respectively. Net revenues from mobile games accounted
for approximately 76.7% of net revenues from the operation of online games for the fourth quarter of 2023, compared with 77.6% and 66.4%
for the preceding quarter and the fourth 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 RMB1.5 billion (US$208.5 million) for the fourth quarter of 2023, compared with RMB1.5 billion each for
the preceding quarter and the fourth quarter of 2022.</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 RMB2.0 billion
(US$279.7 million) for the fourth quarter of 2023, compared with RMB2.0 billion and RMB2.4 billion for the preceding quarter and the fourth
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 RMB2.8 billion (US$387.7 million) for the fourth quarter of 2023, compared
with RMB2.0 billion and RMB2.4 billion for the preceding quarter and the fourth 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 fourth quarter of 2023 was
RMB16.8 billion (US$2.4 billion), compared with RMB17.0 billion and RMB13.2 billion for the preceding quarter and the fourth 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
slight </FONT>quarter-over-quarter decrease in games and related value-added services&rsquo; gross profit was primarily due to decreased
net revenues from online games. The year-over-year increase was primarily due to increased net revenues from online games such as <I>Justice</I>
mobile game, which was launched in 2023, and <I>Eggy Party</I>, offset in part by 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"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
quarter-over-quarter decrease in Youdao&rsquo;s gross profit was primarily due to decreased revenue contribution from its learning services.</FONT>
The slight year-over-year decrease was primarily due to reduced revenue contribution from its smart devices, which was partially offset
by increased revenue contribution from its 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">The quarter-over-quarter and year-over-year increases
in innovative businesses and others&rsquo; gross profit were primarily due to increased gross profit contribution from Yanxuan and advertising
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"><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 fourth quarter of 2023 was 69.5%, compared with 69.0% and 59.1% for the
preceding quarter and the fourth quarter of 2022, respectively.</FONT> The slight quarter-over-quarter increase was primarily attributable
to changes in the 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 fourth quarter of 2023 was 49.9%, co</FONT>mpared with 55.9% and 53.3% for the preceding quarter and
the fourth quarter of 2022, respectively. The quarter-over-quarter and year-over-year decreases were mainly due to decreased revenue contribution
from its learning services and decreased gross profit margin from its smart devices.</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 fourth quarter of 2023 was </FONT>30.3%, compared with 27.2% and 17.8% for the preceding quarter
and the fourth 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 fourth quarter of 2023 was</FONT> 34.4%, compared with 27.3% and 31.5% for
the preceding quarter and the fourth quarter of 2022, respectively. The quarter-over-quarter increase was mainly due to improved gross
profit margin from advertising services. The year-over-year increase was mainly due to improved gross profit margin from Yanxuan and advertising
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"><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 fourth quarter of 2023 were RMB10.0 billion (US$1.4 billion), compared with RMB9.4 billion and RMB8.8 billion
for the preceding quarter and the fourth quarter of 2022, respectively. The quarter-over-quarter</FONT> and year-over-year increases were
mainly due to increased marketing expenditures and research and development investments associated with games and related value-added
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"></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"><FONT STYLE="font-family: Times New Roman, Times, Serif">Other
income/(expenses) consisted of investment (loss)/income, interest income, exchange (losses)/ gains and others. The quarter-over-quarter
decrease was mainly due to a net investment loss resulting from fair value changes of equity investments with readily determinable fair
value in the fourth quarter of 2023, compared with </FONT>a net investment income recorded in the prior quarter, as well as a higher net
exchange loss arising from the fluctuation of the exchange rate of the U.S. dollar against the RMB in the fourth quarter of 2023. The
year-over-year increase was primarily attributable to higher interest income resulting from the improved net cash position.</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
RMB1.1 billion (US$150.5 million) for the fourth quarter of 2023, compared with RMB1.3 billion and RMB966.6 million for the preceding
quarter and the fourth quarter of 2022, respectively. The effective tax rate for the fourth quarter of 2023 was 13.8%, compared with 14.2%
and 20.2% for the preceding quarter and the fourth quarter of 2022, respectively. 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 RMB6.6 billion (US$927.1 million) for the fourth quarter of 2023, compared with RMB7.8 billion and RMB4.0 billion
for the preceding quarter and the fourth 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$0.29 per
share (US$1.44 per ADS) for the fourth quarter of 2023, compared with US$0.34 per share (US$1.72 per ADS) and US$0.17 per share (US$0.86
per ADS) for the preceding quarter and the fourth 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 RMB7.4 billion (US$1.0 billion) for the
fourth quarter of 2023, compared with RMB8.6 billion and RMB4.8 billion for the preceding quarter and the fourth 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$0.32 per share (US$1.62 per ADS) for the fourth quarter of 2023, compared with US$0.38 per share (US$1.89
per ADS) and US$0.21 per share (US$1.05 per ADS) for the preceding quarter and the fourth quarter of 2022, respectively.</P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Net
revenues for fiscal year 2023 were RMB</FONT>103.5 billion (US$14.6 billion), compared with RMB96.5 billion for fiscal year 2022.</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">Net
revenues from games and related value-added services were RMB81.6 billion (US$</FONT>11.5 billion) for fiscal year 2023, compared with
RMB74.6 billion for fiscal year 2022. Net revenues from the operation of online games accounted for approximately 92.9% of the segment&rsquo;s
total net revenues for fiscal year 2023, compared with 92.5% for fiscal year 2022. Net revenues from mobile games accounted for approximately
75.2% of net revenues from the operation of online games for fiscal year 2023, compared with 67.0% for fiscal year 2022. The higher percentage
contribution from mobile games was mainly due to a higher proportion of net revenues generated by mobile games such as <I>Eggy Party
</I>and <I>Justice</I> mobile game.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Net revenues from Youdao were RMB5.4 billion (US$759.1
million) for fiscal year 2023, compared with RMB5.0 billion for fiscal year 2022.</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 RMB7.9 billion
(US$1.1 billion) for fiscal year 2023, compared with RMB9.0 billion for fiscal year 2022.</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 from innovative businesses and others were RMB8.6 </FONT>billion (US$1.2 billion) for fiscal year 2023, compared with RMB7.9
billion for fiscal year 2022.</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"><FONT STYLE="font-family: Times New Roman, Times, Serif">Gross
profit for fiscal year 2023 was RMB</FONT>63.1 billion (US$8.9 billion), compared with RMB52.8 billion for fiscal year 2022.</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
year-over-year increase in </FONT>games and related value-added services gross profit was primarily due to increased net revenues from
the operation of online games, mainly from certain newly launched mobile 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">The
year-over-year increase in Youdao gross profit was </FONT>mainly due to increased revenue contribution from its online marketing services
and learning services.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The year-over-year increase in Cloud Music gross
profit was primarily attributable to 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
year-over-year </FONT>increase in innovative businesses and others gross profit was primarily due to increased gross profits 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>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 fiscal year 2023 were RMB</FONT>35.4 billion (US$5.0 billion), compared with RMB33.1 billion for fiscal year 2022.
The year-over-year increase was primarily due to higher research and development investments and marketing expenditures for games and
related value-added 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"></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"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
year-over-year increase was mainly due to higher interest income </FONT>resulting from the Company&rsquo;s increased net cash position,
and investment income arising from fair value changes of equity investments with readily determinable fair value. The foregoing was partially
offset by the fact that the Company recorded a net exchange loss in fiscal year 2023, compared to a net exchange gain in fiscal year 2022,
mainly resulting from the fluctuation of the exchange rate of the U.S. dollar against the RMB during the years.</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 Taxes</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">The
Company recorded a net income tax charge of RMB</FONT>4.7 billion (US$661.9 million) for fiscal year 2023, compared with RMB5.0 billion
for fiscal year 2022. The effective tax rate was 13.8% for fiscal year 2023, compared with 20.7% for fiscal year 2022. The lower effective
tax rate for fiscal year 2023 was partially due to tax benefits recognized in the year.</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 for fiscal year 2023 totaled RMB29.4 billion (US$4.1 billion), compared with RMB20.3 billion for fiscal year 2022.</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
reported basic net income of US$</FONT>1.29 per share (US$6.44 per ADS) for fiscal year 2023, compared with US$0.88 per share (US$4.39
per ADS) for fiscal year 2022.</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 </FONT>income from continuing operations attributable to the Company&rsquo;s shareholders for fiscal year 2023 totaled RMB32.6 billion
(US$4.6 billion), compared with RMB22.8 billion for fiscal year 2022.</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
reported non-GAAP basic net income </FONT>from continuing operations of US$1.43 per share (US$7.14 per ADS) for fiscal year 2023, compared
with US$0.98 per share (US$4.92 per ADS) for fiscal year 2022.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">As
of </FONT>December&nbsp;31, 2023, the Company&rsquo;s net cash (total cash and cash equivalents, current and non-current time deposits
and restricted cash, as well as short-term investments balance, minus short-term and long-term loans) totaled RMB110.9 billion (US$15.6
billion), compared with RMB95.6 billion as of December&nbsp;31, 2022. Net cash provided by operating activities was RMB35.3 billion (US$5.0
billion) for fiscal year 2023, compared with RMB27.7 billion for fiscal year 2022.</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"><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$0.21597 per share (US$1.07985 per ADS) for the fourth quarter of 2023 to holders
of ordinary shares and holders of ADSs as of the close of business on March&nbsp;14, 2024, 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 March&nbsp;14, 2024 (Beijing/ Hong Kong Time). The payment
date is expected to be March&nbsp;25, 2024 for holders of ordinary shares, and on or around March&nbsp;28, 2024 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>0.0990 per share (US$0.4950 per ADS) for the third quarter of 2023 in December&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 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 and will be in effect for a period not to exceed 36 months from such date. As of December&nbsp;31, 2023, approximately 7.2 million
ADSs had been repurchased under this program for a total cost of US$644.1 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; 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, February&nbsp;29,
2024 (Beijing/ Hong Kong Time: 8:00 p.m., Thursday, February&nbsp;29, 2024). 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"><FONT STYLE="font-family: Times New Roman, Times, Serif">Interested
parties may participate in the conference call by dialing 1-914-202-3258 and providing conference ID: 10036635, 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: 10036635. The replay will be
available through </FONT>March&nbsp;6, 2024.</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><FONT STYLE="color: Black"><U>http://ir.netease.com/</U></FONT>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></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>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; 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: <FONT STYLE="color: Black"><U>http://ir.netease.com/</U></FONT>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><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 expressions. 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; risk</FONT>s related
to economic uncertainty and capital market disruption; risks related to the expansion of NetEase&rsquo;s businesses and operations internationally;
risks 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 this non-GAAP financial measure 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 the unaudited reconciliation of GAAP and non-GAAP
results at the end of this announcement. NetEase encourages you to review its financial information in its entirety and not rely on a
single financial measure.</P>

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

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

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

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

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

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



<P STYLE="margin: 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: bottom">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center">December 31,</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center">December 31,</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center">December 31,</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2022</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2023</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2023</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">RMB</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">RMB</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">USD (Note 1)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold">Assets</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Current assets:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 60%; font-size: 10pt; text-align: left">&nbsp;&nbsp;&nbsp;Cash and cash equivalents</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">24,889,000</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">21,428,902</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">3,018,198</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;&nbsp;&nbsp;Time deposits</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">84,947,679</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">100,856,034</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">14,205,275</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;&nbsp;&nbsp;Restricted cash</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2,699,055</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2,777,206</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">391,161</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;&nbsp;&nbsp;Accounts receivable, net</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">5,002,872</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">6,422,417</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">904,579</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;&nbsp;&nbsp;Inventories</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">993,636</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">695,374</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">97,941</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;&nbsp;&nbsp;Prepayments and other current assets, net</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">5,448,284</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">6,076,595</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">855,871</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">&nbsp;&nbsp;&nbsp;Short-term investments</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">7,622,673</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">4,436,057</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">624,806</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">Total current assets</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">131,603,199</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">142,692,585</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">20,097,831</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Non-current assets:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;&nbsp;&nbsp;Property, equipment and software, net</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">6,342,330</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">8,075,044</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,137,346</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;&nbsp;&nbsp;Land use rights, net</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">4,121,767</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">4,075,143</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">573,972</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;&nbsp;&nbsp;Deferred tax assets</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,480,789</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,560,088</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">219,734</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;&nbsp;&nbsp;Time deposits</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2,973,840</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,050,000</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">147,889</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;&nbsp;&nbsp;Restricted cash</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">270</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">550</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">77</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">&nbsp;&nbsp;&nbsp;Other long-term assets</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">26,238,790</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">28,471,568</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">4,010,136</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">Total non-current assets</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">41,157,786</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">43,232,393</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">6,089,154</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 2.5pt">Total assets</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">172,760,985</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">185,924,978</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">26,186,985</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">Liabilities, Redeemable Noncontrolling Interests and Shareholders&rsquo; Equity</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: justify">Current liabilities:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;&nbsp;&nbsp;Accounts payable</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,507,141</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">881,016</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">124,089</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;&nbsp;&nbsp;Salary and welfare payables</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">4,732,941</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">4,857,206</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">684,123</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;&nbsp;&nbsp;Taxes payable</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2,813,096</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2,571,534</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">362,193</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;&nbsp;&nbsp;Short-term loans</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">23,875,704</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">19,240,163</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2,709,920</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;&nbsp;&nbsp;Contract liabilities</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">12,518,890</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">13,362,166</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,882,022</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">&nbsp;&nbsp;&nbsp;Accrued liabilities and other payables</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">11,381,075</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">12,930,399</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1,821,209</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">Total current liabilities</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">56,828,847</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">53,842,484</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">7,583,556</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: justify">Non-current liabilities:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;&nbsp;&nbsp;Deferred tax liabilities</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2,126,120</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">2,299,303</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">323,850</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;&nbsp;&nbsp;Long-term loans</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">3,654,964</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">427,997</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">60,282</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">&nbsp;&nbsp;&nbsp;Other long-term liabilities</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1,277,574</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1,271,113</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">179,032</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">Total non-current liabilities</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">7,058,658</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">3,998,413</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">563,164</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">Total liabilities</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">63,887,505</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">57,840,897</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">8,146,720</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: justify">Redeemable noncontrolling interests</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">136,440</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">115,759</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">16,304</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">NetEase, Inc.&rsquo;s shareholders&rsquo; equity</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">104,731,317</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">124,285,776</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">17,505,285</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">Noncontrolling interests</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">4,005,723</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">3,682,546</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">518,676</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">Total equity</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">108,737,040</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">127,968,322</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">18,023,961</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 2.5pt">Total liabilities, redeemable noncontrolling interests and shareholders&rsquo; equity</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">172,760,985</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">185,924,978</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">26,186,985</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>


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

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

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

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

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

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

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

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



<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: red; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="14" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt; color: Black">Three
    Months Ended</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="10" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt; color: Black">Year
    Ended</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">December
    31,</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">September
    30,</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">December
    31,</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">December
    31,</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">December
    31,</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">December
    31,</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">December
    31,</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt; color: Black">2022</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt; color: Black">2023</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt; color: Black">2023</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt; color: Black">2023</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt; color: Black">2022</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt; color: Black">2023</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt; color: Black">2023</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">RMB</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">RMB</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">RMB</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">USD (Note 1)</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">RMB</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">RMB</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">USD (Note 1)</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 37%; font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Net revenues</FONT></TD><TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="width: 6%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">25,354,129</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="width: 6%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">27,270,406</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="width: 6%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">27,140,165</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="width: 6%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">3,822,612</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="width: 6%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">96,495,809</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="width: 6%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">103,468,159</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="width: 6%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">14,573,185</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">Cost
    of revenues</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(12,109,765</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(10,304,106</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(10,315,030</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(1,452,842</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(43,729,683</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(40,404,765</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(5,690,892</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">Gross
    profit</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">13,244,364</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">16,966,300</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">16,825,135</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">2,369,770</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">52,766,126</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">63,063,394</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">8,882,293</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Operating expenses:</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Selling and marketing expenses</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(3,417,909</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(3,567,153</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(4,225,556</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(595,157</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(13,402,721</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(13,969,460</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(1,967,557</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">General and administrative expenses</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(1,302,932</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(1,494,186</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(1,251,869</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(176,322</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(4,695,798</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(4,899,880</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(690,134</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">Research and development
    expenses</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(4,090,076</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(4,347,052</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(4,479,219</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(630,885</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(15,039,014</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(16,484,910</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(2,321,851</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">Total operating expenses</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(8,810,917</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(9,408,391</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(9,956,644</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(1,402,364</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(33,137,533</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(35,354,250</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(4,979,542</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">Operating
    profit</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">4,433,447</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">7,557,909</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">6,868,491</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">967,406</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">19,628,593</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">27,709,144</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">3,902,751</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Other income/(expenses):</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Investment (loss)/income, net</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(37,102</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">556,603</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(8,940</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(1,259</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">53,976</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1,306,722</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">184,048</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Interest income, net</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">629,290</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1,147,227</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1,261,583</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">177,690</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">2,149,673</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">4,120,418</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">580,349</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Exchange (losses)/gains , net</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(594,241</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(400,483</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(810,904</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(114,213</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1,571,207</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(132,999</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(18,733</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">Other, net</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">344,875</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">240,024</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">434,759</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">61,235</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">846,815</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1,053,642</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">148,402</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Income before tax</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">4,776,269</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">9,101,280</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">7,744,989</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1,090,859</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">24,250,264</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">34,056,927</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">4,796,817</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">Income tax</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(966,574</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(1,290,398</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(1,068,657</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(150,517</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(5,031,838</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(4,699,704</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(661,939</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Net income from continuing
    operations</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">3,809,695</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">7,810,882</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">6,676,332</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">940,342</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">19,218,426</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">29,357,223</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">4,134,878</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; padding-left: 10pt; font-size: 10pt; font-weight: bold; text-align: left; text-indent: -10pt"><FONT STYLE="font-size: 8pt; color: Black">Net
    income from discontinued operations</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">624,864</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Net income</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">3,809,695</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">7,810,882</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">6,676,332</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">940,342</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">19,843,290</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">29,357,223</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">4,134,878</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; font-size: 10pt; text-align: left; text-indent: -10pt"><FONT STYLE="font-size: 8pt; color: Black">Accretion
    of redeemable noncontrolling interests</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(710</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(895</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(966</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(136</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(2,978</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(3,589</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(506</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 10pt; font-size: 10pt; text-align: left; text-indent: -10pt"><FONT STYLE="font-size: 8pt; color: Black">Net
    loss/(income) attributable to noncontrolling interests</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">143,752</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">26,901</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(93,103</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(13,113</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">497,288</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">62,918</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">8,862</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 2.5pt; text-indent: -10pt"><FONT STYLE="font-size: 8pt; color: Black">Net
    income attributable to the Company&rsquo;s shareholders</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">3,952,737</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">7,836,888</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">6,582,263</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">927,093</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">20,337,600</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">29,416,552</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">4,143,234</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Including:</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; font-size: 10pt; text-align: left; text-indent: -10pt"><FONT STYLE="font-size: 8pt; color: Black">-Net
    income from continuing operations attributable to the&nbsp;&nbsp;Company&rsquo;s shareholders</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">3,952,737</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">7,836,888</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">6,582,263</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">927,093</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">19,712,736</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">29,416,552</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">4,143,234</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 10pt; font-size: 10pt; text-align: left; text-indent: -10pt"><FONT STYLE="font-size: 8pt; color: Black">-Net
    income from discontinued operations attributable to the Company&rsquo;s shareholders</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">624,864</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Basic net income per
    share *</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1.22</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">2.44</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">2.05</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">0.29</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">6.23</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">9.15</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1.29</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;-Continuing operations</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1.22</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">2.44</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">2.05</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">0.29</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">6.04</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">9.15</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1.29</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;-Discontinued operations</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">0.19</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Basic net income per
    ADS *</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">6.10</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">12.19</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">10.25</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1.44</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">31.16</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">45.73</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">6.44</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;-Continuing operations</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">6.10</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">12.19</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">10.25</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1.44</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">30.20</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">45.73</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">6.44</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;-Discontinued operations</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">0.96</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Diluted net income per
    share *</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1.21</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">2.41</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">2.02</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">0.28</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">6.17</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">9.05</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1.27</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;-Continuing operations</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1.21</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">2.41</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">2.02</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">0.28</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">5.98</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">9.05</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1.27</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;-Discontinued operations</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">0.19</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Diluted net income per
    ADS *</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">6.05</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">12.06</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">10.12</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1.42</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">30.85</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">45.23</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">6.37</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;-Continuing operations</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">6.05</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">12.06</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">10.12</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1.42</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">29.90</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">45.23</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">6.37</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;-Discontinued operations</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">0.95</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 10pt; font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 2.5pt; text-indent: -10pt"><FONT STYLE="font-size: 8pt; color: Black">Weighted
    average number of ordinary shares used in calculating net income per share *</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Basic</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">3,239,282</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">3,213,834</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">3,212,328</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">3,212,328</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">3,263,455</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">3,216,475</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">3,216,475</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Diluted</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">3,269,082</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">3,249,649</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">3,253,166</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">3,253,166</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">3,296,014</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">3,252,029</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">3,252,029</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  </TABLE>


<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 8pt">*&nbsp;&nbsp;Each
ADS represents five ordinary shares.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

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

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

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



<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 8pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="14" STYLE="font: bold 10pt Times New Roman, Times, Serif; color: Black; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Three
    Months Ended</FONT></TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="10" STYLE="font: bold 10pt Times New Roman, Times, Serif; color: Black; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Year
    Ended</FONT></TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; font-size: 10pt; color: Black; text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; color: Black; text-align: center"><FONT STYLE="font-size: 8pt">December
    31,</FONT></TD><TD STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; color: Black; text-align: center"><FONT STYLE="font-size: 8pt">September
    30,</FONT></TD><TD STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; color: Black; text-align: center"><FONT STYLE="font-size: 8pt">December
    31,</FONT></TD><TD STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; color: Black; text-align: center"><FONT STYLE="font-size: 8pt">December
    31,</FONT></TD><TD STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; color: Black; text-align: center"><FONT STYLE="font-size: 8pt">December
    31,</FONT></TD><TD STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; color: Black; text-align: center"><FONT STYLE="font-size: 8pt">December
    31,</FONT></TD><TD STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; color: Black; text-align: center"><FONT STYLE="font-size: 8pt">December
    31,</FONT></TD><TD STYLE="white-space: nowrap; font: bold 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; color: Black; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">2022</FONT></TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; color: Black; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">2023</FONT></TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; color: Black; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">2023</FONT></TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; color: Black; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">2023</FONT></TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; color: Black; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">2022</FONT></TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; color: Black; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">2023</FONT></TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; color: Black; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">2023</FONT></TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: center"><FONT STYLE="font-size: 8pt">RMB</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: center"><FONT STYLE="font-size: 8pt">RMB</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: center"><FONT STYLE="font-size: 8pt">RMB</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: center"><FONT STYLE="font-size: 8pt">USD
    (Note 1)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: center"><FONT STYLE="font-size: 8pt">RMB</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: center"><FONT STYLE="font-size: 8pt">RMB</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: center"><FONT STYLE="font-size: 8pt">USD
    (Note 1)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">Cash flows
    from operating activities:</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; width: 37%; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">Net
    income</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 6%; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">3,809,695</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 6%; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">7,810,882</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 6%; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">6,676,332</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 6%; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">940,342</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 6%; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">19,843,290</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 6%; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">29,357,223</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 6%; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">4,134,878</FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">Net income from
    discontinued operations</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(624,864</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; color: Black; text-align: left; text-indent: -10pt"><FONT STYLE="font-size: 8pt">Adjustments
    to reconcile net income to net cash provided by operating activities:</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">Depreciation and
    amortization</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">769,141</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">651,856</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">659,772</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">92,927</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">2,858,209</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">3,055,260</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">430,324</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">Fair value changes
    of equity security investments</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">148,156</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(382,132</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">151,571</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">21,348</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">3,104,336</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(535,316</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(75,398</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; white-space: nowrap; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">Impairment
    losses on investments and other long-term assets</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">45,401</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">280,641</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">140,648</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">19,810</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">300,249</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">469,159</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">66,080</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">Fair value changes
    of short-term investments</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(23,364</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(72,875</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(106,532</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(15,005</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(342,642</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(414,207</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(58,340</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">Share-based compensation
    cost</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">876,560</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">819,548</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">812,987</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">114,507</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">3,174,160</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">3,242,810</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">456,740</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">Allowance for expected
    credit losses</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">6,615</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">22,386</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">9,500</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">1,338</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">61,393</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">61,146</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">8,612</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">Losses on disposal
    of property, equipment and software</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">1,166</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">2,649</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">3,385</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">477</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">3,620</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">5,676</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">799</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">Unrealized exchange
    losses/(gains)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">589,665</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">362,213</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">838,056</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">118,038</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(1,604,260</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">119,935</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">16,893</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; color: Black; text-align: left; text-indent: -10pt"><FONT STYLE="font-size: 8pt">Gains
    on disposal of long-term investments, business and subsidiaries</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(62,922</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(3,197</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(38,437</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(5,414</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(1,791,355</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(63,784</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(8,984</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">Deferred income
    taxes</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">578,317</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(305,703</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">193,854</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">27,304</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">489,670</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">131,437</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">18,513</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; color: Black; text-align: left; text-indent: -10pt"><FONT STYLE="font-size: 8pt">Share
    of results on equity method investees and revaluation results from previously held equity interest</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(54,746</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(160,042</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(88,805</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(12,508</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(1,259,941</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(473,947</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(66,754</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">Changes in operating
    assets and liabilities:</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">Accounts receivable</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">224,197</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(1,177,732</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">53,089</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">7,477</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">554,340</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(1,470,374</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(207,098</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; color: Black"><FONT STYLE="font-size: 8pt">Inventories</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(60,695</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">84,970</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">25,054</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">3,529</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(27,613</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">296,764</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">41,798</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; color: Black"><FONT STYLE="font-size: 8pt">Prepayments and
    other assets</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">1,095,882</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(573,631</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">542,593</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">76,423</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">731,100</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">87,556</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">12,332</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; color: Black"><FONT STYLE="font-size: 8pt">Accounts payable</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">576,021</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">150,868</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">18,443</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">2,598</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">447,666</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(559,419</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(78,792</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; color: Black"><FONT STYLE="font-size: 8pt">Salary and welfare
    payables</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">1,965,624</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(588,217</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">1,992,931</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">280,698</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">424,513</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(62,917</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(8,862</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; color: Black"><FONT STYLE="font-size: 8pt">Taxes payable</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(928,071</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">515,087</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(500,172</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(70,448</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(917,614</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(244,261</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(34,403</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; color: Black"><FONT STYLE="font-size: 8pt">Contract liabilities</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(1,396,523</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">1,560,628</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(847,562</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(119,377</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">385,396</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">1,161,861</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">163,645</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; color: Black"><FONT STYLE="font-size: 8pt">Accrued
    liabilities and other payables</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">849,094</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">845,721</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">1,271,572</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">179,098</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">1,899,580</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">1,166,673</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">164,323</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">Net
    cash provided by operating activities</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">9,009,213</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">9,843,920</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">11,808,279</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">1,663,162</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">27,709,233</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">35,331,275</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">4,976,306</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">Cash flows
    from investing activities:</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">Purchase of property,
    equipment and software</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(348,821</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(643,144</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(484,927</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(68,300</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(2,100,264</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(2,301,554</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(324,167</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">Proceeds from sale
    of property, equipment and software</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">2,257</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">3,101</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">405</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">57</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">41,467</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">10,302</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">1,451</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; white-space: nowrap; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">Purchase
    of intangible assets, content and licensed copyrights</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(161,987</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(742,523</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(121,797</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(17,155</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(543,220</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(1,974,323</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(278,078</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; color: Black; text-align: left; text-indent: -10pt"><FONT STYLE="font-size: 8pt">Net
    change in short-term investments with terms of three months or less</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(931,790</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(1,993,921</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(690,628</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(97,273</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">776,357</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(1,777,687</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(250,382</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; color: Black; text-align: left; text-indent: -10pt"><FONT STYLE="font-size: 8pt">Purchase
    of short-term investments with terms over three months</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(4,700,000</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(5,950,000</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; color: Black; text-align: left; text-indent: -10pt"><FONT STYLE="font-size: 8pt">Proceeds
    from maturities of short-term investments with terms over three months</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">6,966,682</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">376,950</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">4,897,291</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">689,769</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">10,175,160</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">5,378,510</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">757,547</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; color: Black; text-align: left; text-indent: -10pt"><FONT STYLE="font-size: 8pt">Investment
    in long-term investments and acquisition of subsidiaries</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(1,694,928</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(417,448</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(914,962</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(128,870</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(5,129,680</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(2,831,686</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(398,834</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; color: Black; text-align: left; text-indent: -10pt"><FONT STYLE="font-size: 8pt">Proceeds
    from disposal of long-term investments, businesses and subsidiaries</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">92,795</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">20,898</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">73,855</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">10,402</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">2,411,070</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">152,564</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">21,488</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">Placement/rollover
    of matured time deposits</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(22,975,014</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(30,831,994</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(46,666,670</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(6,572,863</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(98,973,884</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(124,693,598</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(17,562,726</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">Proceeds from maturities
    of time deposits</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">27,676,529</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">33,893,436</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">33,273,393</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">4,686,459</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">92,247,046</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">111,417,969</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">15,692,893</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">Change
    in other long-term assets</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(61,552</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(181,263</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(90,635</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(12,766</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(323,779</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(423,928</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(59,709</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">Net
    cash provided by/(used in) investing activities</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">3,864,171</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(515,908</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(10,724,675</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(1,510,540</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(7,369,727</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(17,043,431</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(2,400,517</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">Cash flows
    from financing activities:</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">Net changes from
    loans with terms of three months or less</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(3,753,493</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(7,501,788</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">6,179,979</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">870,432</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(1,274,043</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(13,654,704</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(1,923,225</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">Proceed of loans
    with terms over three months</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">2,765,086</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">7,607,060</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">2,511,000</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">353,667</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">6,392,695</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">13,569,160</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">1,911,176</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">Payment of loans
    with terms over three months</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(191,158</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(4,250,550</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(695,000</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(97,889</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(273,639</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(8,219,472</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(1,157,688</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; color: Black; text-align: left; text-indent: -10pt"><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: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">23,616</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">11,573</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">28,009</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">3,945</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(30,921</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">86,159</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">12,136</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; color: Black; text-align: left; text-indent: -10pt"><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: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(3,007,765</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(296,495</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(625,832</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(88,147</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(8,328,124</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(5,234,294</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(737,235</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">Dividends
    paid to NetEase&rsquo;s shareholders</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(2,018,984</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(2,423,355</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(2,258,892</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(318,158</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(6,723,667</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(8,013,903</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(1,128,735</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">Net
    cash (used in)/provided by financing activities</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(6,182,698</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(6,853,555</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">5,139,264</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">723,850</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(10,237,699</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(21,467,054</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(3,023,571</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; color: Black; text-align: left; text-indent: -10pt"><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: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">53,237</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">4,197</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(174,276</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(24,546</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">110,403</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(202,457</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(28,516</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">Net
    increase/(decrease) in cash, cash equivalents and restricted cash</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">6,743,923</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">2,478,654</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">6,048,592</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">851,926</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">10,212,210</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(3,381,667</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">(476,298</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; font: bold 10pt Times New Roman, Times, Serif; color: Black; text-align: left; padding-bottom: 1pt; text-indent: -10pt"><FONT STYLE="font-size: 8pt">Cash,
    cash equivalents and restricted cash, at the beginning of the period</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">20,844,402</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">15,679,412</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">18,158,066</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">2,557,510</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">17,376,115</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">27,588,325</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">3,885,734</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; color: Black; 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: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">27,588,325</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">18,158,066</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">24,206,658</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">3,409,436</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">27,588,325</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">24,206,658</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">3,409,436</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">Supplemental
    disclosures of cash flow information:</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">Cash paid for income
    tax, net</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">971,217</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">1,165,196</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">1,030,932</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">145,204</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">5,092,391</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">4,895,752</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">689,552</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">Cash paid for interest
    expenses</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">264,232</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">105,665</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">71,847</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">10,119</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">588,381</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">779,872</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: right"><FONT STYLE="font-size: 8pt">109,843</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: Black; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
  </TABLE>



<P STYLE="margin: 0">&nbsp;</P>

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

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

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



<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="14" STYLE="border-bottom: Black 1pt solid; white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">Three
    Months Ended</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="10" STYLE="border-bottom: Black 1pt solid; white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">Year
    Ended</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">December
    31,</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">September
    30,</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">December
    31,</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">December
    31,</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">December
    31,</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">December
    31,</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">December
    31,</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt; color: Black">2022</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt; color: Black">2023</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt; color: Black">2023</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt; color: Black">2023</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt; color: Black">2022</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt; color: Black">2023</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt; color: Black">2023</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">RMB</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">RMB</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">RMB</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">USD (Note
    1)</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">RMB</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">RMB</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">USD (Note
    1)</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Net
    revenues:</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; width: 37%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Games and
    related value-added services</FONT></TD><TD STYLE="white-space: nowrap; width: 1%; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; width: 6%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">19,085,708</FONT></TD><TD STYLE="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; width: 1%; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; width: 6%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">21,779,851</FONT></TD><TD STYLE="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; width: 1%; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; width: 6%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">20,921,355</FONT></TD><TD STYLE="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; width: 1%; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; width: 6%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">2,946,711</FONT></TD><TD STYLE="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; width: 1%; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; width: 6%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">74,566,471</FONT></TD><TD STYLE="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; width: 1%; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; width: 6%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">81,565,449</FONT></TD><TD STYLE="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; width: 1%; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; width: 6%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">11,488,253</FONT></TD><TD STYLE="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Youdao</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1,453,982</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1,538,783</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1,480,521</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">208,527</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">5,013,182</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">5,389,208</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">759,054</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Cloud Music</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">2,376,257</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1,973,064</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1,985,548</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">279,659</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">8,992,221</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">7,866,992</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1,108,043</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">Innovative
    businesses and others</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">2,438,182</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1,978,708</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">2,752,741</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">387,715</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">7,923,935</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">8,646,510</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1,217,835</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">Total
    net revenues</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">25,354,129</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">27,270,406</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">27,140,165</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">3,822,612</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">96,495,809</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">103,468,159</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">14,573,185</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Cost
    of revenues:</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Games and related value-added
    services</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(7,805,578</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(6,749,507</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(6,383,474</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(899,094</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(27,784,419</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(25,938,865</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(3,653,413</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Youdao</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(679,295</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(679,147</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(741,720</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(104,469</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(2,430,738</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(2,621,746</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(369,265</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Cloud Music</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(1,953,900</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(1,436,552</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(1,384,537</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(195,008</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(7,699,103</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(5,764,322</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(811,888</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">Innovative
    businesses and others</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(1,670,992</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(1,438,900</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(1,805,299</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(254,271</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(5,815,423</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(6,079,832</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(856,326</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">Total
    cost of revenues</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(12,109,765</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(10,304,106</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(10,315,030</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(1,452,842</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(43,729,683</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(40,404,765</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; color: #FF0000; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; color: #FF0000; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(5,690,892</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; color: #FF0000; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Gross
    profit:</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Games and related value-added
    services</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">11,280,130</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">15,030,344</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">14,537,881</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">2,047,617</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">46,782,052</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">55,626,584</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">7,834,840</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Youdao</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">774,687</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">859,636</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">738,801</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">104,058</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">2,582,444</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">2,767,462</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">389,789</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Cloud Music</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">422,357</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">536,512</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">601,011</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">84,651</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1,293,118</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">2,102,670</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">296,155</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">Innovative
    businesses and others</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">767,190</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">539,808</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">947,442</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">133,444</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">2,108,512</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">2,566,678</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">361,509</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt; color: Black">Total
    gross profit</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">13,244,364</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 2.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">16,966,300</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 2.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">16,825,135</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 2.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">2,369,770</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 2.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">52,766,126</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 2.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">63,063,394</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 2.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">8,882,293</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 2.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Gross
    profit margin:</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Games and related value-added
    services</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">59.1</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">69.0</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">69.5</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">69.5</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">62.7</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">68.2</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">68.2</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Youdao</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">53.3</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">55.9</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">49.9</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">49.9</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">51.5</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">51.4</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">51.4</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Cloud Music</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">17.8</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">27.2</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">30.3</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">30.3</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">14.4</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">26.7</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">26.7</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Innovative businesses
    and others</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">31.5</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">27.3</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">34.4</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">34.4</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">26.6</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">29.7</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">29.7</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">%</FONT></TD></TR>
  </TABLE>


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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>NETEASE, 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 = RMB7.0999 on the last trading day of December&nbsp;2023 (December&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 December&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: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="14" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">Three
    Months Ended</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="10" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">Year
    Ended</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 10pt">December
    31,</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 10pt">September
    30,</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 10pt">December
    31,</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 10pt">December
    31,</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 10pt">December
    31,</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 10pt">December
    31,</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 10pt">December
    31,</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">2022</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">2023</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">2023</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">2023</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">2022</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">2023</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">2023</FONT></TD><TD STYLE="white-space: nowrap; padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">RMB</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">RMB</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">RMB</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">USD (Note 1)</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">RMB</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">RMB</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">USD (Note 1)</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">Share-based compensation cost included
    in:</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; width: 37%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">Cost of revenues</FONT></TD><TD STYLE="white-space: nowrap; width: 1%; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; width: 6%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">195,793</FONT></TD><TD STYLE="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; width: 1%; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; width: 6%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">210,533</FONT></TD><TD STYLE="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; width: 1%; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; width: 6%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">216,717</FONT></TD><TD STYLE="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; width: 1%; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; width: 6%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">30,524</FONT></TD><TD STYLE="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; width: 1%; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; width: 6%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">758,413</FONT></TD><TD STYLE="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; width: 1%; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; width: 6%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">823,765</FONT></TD><TD STYLE="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; width: 1%; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; width: 6%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">116,025</FONT></TD><TD STYLE="white-space: nowrap; width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">Operating expenses</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;Selling and marketing
    expenses</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">33,001</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">33,804</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">35,575</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">5,011</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">120,171</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">132,801</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">18,705</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;General and administrative
    expenses</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">349,444</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">280,581</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">262,830</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">37,019</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">1,214,995</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">1,119,018</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">157,610</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;Research and development
    expenses</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">298,322</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">294,630</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">297,865</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">41,953</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">1,080,581</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">1,167,226</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">164,400</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  </TABLE>


<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="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; 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: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="14" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">Three
    Months Ended</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="10" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">Year
    Ended</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 10pt">December 31,</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 10pt">September 30,</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 10pt">December 31,</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 10pt">December 31,</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 10pt">December 31,</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 10pt">December 31,</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 10pt">December 31,</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">2022</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">2023</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">2023</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">2023</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">2022</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">2023</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">2023</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">RMB</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">RMB</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">RMB</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">USD (Note 1)</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">RMB</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">RMB</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">USD (Note 1)</FONT></TD><TD STYLE="white-space: nowrap; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 10pt; width: 37%; font-size: 10pt; text-align: left; text-indent: -10pt"><FONT STYLE="font-size: 10pt">Net
    income from continuing operations attributable to the Company&rsquo;s shareholders</FONT></TD><TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 6%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">3,952,737</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 6%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">7,836,888</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 6%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">6,582,263</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 6%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">927,093</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 6%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">19,712,736</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 6%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">29,416,552</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 6%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">4,143,234</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">Add: Share-based compensation</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">858,637</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">808,276</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">797,194</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">112,282</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">3,095,693</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">3,191,753</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">449,549</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 10pt; font-size: 10pt; text-align: left; text-indent: -10pt"><FONT STYLE="font-size: 10pt">Non-GAAP net
    income from continuing operations attributable to the Company&rsquo;s shareholders</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">4,811,374</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">8,645,164</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">7,379,457</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">1,039,375</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">22,808,429</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">32,608,305</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">4,592,783</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 10pt; font-size: 10pt; text-align: left; text-indent: -10pt"><FONT STYLE="font-size: 10pt">Non-GAAP basic
    net income from continuing operations per share *</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">1.49</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">2.69</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">2.30</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">0.32</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">6.99</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">10.14</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">1.43</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; font-size: 10pt; text-align: left; text-indent: -10pt"><FONT STYLE="font-size: 10pt">Non-GAAP basic
    net income from continuing operations per ADS *</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">7.43</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">13.45</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">11.49</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">1.62</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">34.95</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">50.69</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">7.14</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 10pt; font-size: 10pt; text-align: left; text-indent: -10pt"><FONT STYLE="font-size: 10pt">Non-GAAP diluted
    net income from continuing operations per share *</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">1.47</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">2.66</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">2.27</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">0.32</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">6.92</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">10.03</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">1.41</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 10pt; font-size: 10pt; text-align: left; text-indent: -10pt"><FONT STYLE="font-size: 10pt">Non-GAAP diluted
    net income from continuing operations per ADS *</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">7.36</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">13.30</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">11.34</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">1.60</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">34.60</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">50.14</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">7.06</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  </TABLE>


<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">*&nbsp;&nbsp;Each
ADS represents five ordinary shares.&nbsp;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="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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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
