<SEC-DOCUMENT>0001104659-24-091756.txt : 20240822
<SEC-HEADER>0001104659-24-091756.hdr.sgml : 20240822
<ACCEPTANCE-DATETIME>20240822060144
ACCESSION NUMBER:		0001104659-24-091756
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20240822
FILED AS OF DATE:		20240822
DATE AS OF CHANGE:		20240822

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:		241230044

	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 3378

	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>tm2421988d1_6k.htm
<DESCRIPTION>FORM 6-K
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<P STYLE="margin: 0">&nbsp;</P>

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATE<FONT STYLE="font-size: 10pt">S</FONT></B>&nbsp;</P>

<P STYLE="font: 10pt 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; text-align: center"><B>&nbsp;</B></P>

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

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

<P STYLE="font: bold 10pt 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">&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">&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>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 60%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="font-size: 10pt; width: 48%; text-align: right">Form&nbsp;20-F <FONT STYLE="font-family: Wingdings; font-size: 10pt">&#120;</FONT></TD>
    <TD STYLE="width: 4%">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: justify; width: 48%">Form&nbsp;40-F <FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in"></P>

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

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

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

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

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

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

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


<P STYLE="margin: 0"><A HREF="tm2421988d1_ex99-1.htm">Exhibit&nbsp;99.1 - NetEase Announces Second Quarter 2024 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>SIGNATURE</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>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD><TD COLSPAN="2" STYLE="text-align: justify">NETEASE,&nbsp;INC.</TD>
</TR><TR STYLE="vertical-align: top; text-align: justify">
    <TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD><TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
    <TD STYLE="width: 5%">&nbsp;</TD>
<TD STYLE="text-align: left; width: 44%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD><TD STYLE="text-align: justify; width: 5%">By:</TD>
                                        <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; width: 44%">/s/ William Lei Ding</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
    <TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD><TD STYLE="text-align: justify">Name:</TD>
                                        <TD STYLE="text-align: justify">William Lei Ding</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
    <TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD><TD STYLE="text-align: justify">Title:</TD>
                                        <TD STYLE="text-align: justify">Chief Executive Officer</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
    <TD>&nbsp;</TD>
<TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD><TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD></TR>
     <TR STYLE="vertical-align: top; text-align: justify">
    <TD><FONT STYLE="font-size: 10pt">Date:</FONT></TD>
<TD STYLE="border-bottom: Black 1pt solid; text-decoration: none; font-size: 10pt; text-align: left">August&nbsp;22, 2024</TD>
    <TD>&nbsp;</TD><TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD></TR>
     </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-indent: 0.5in"></P>

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

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

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>tm2421988d1_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><IMG SRC="tm2421988d1_ex99-1img001.jpg" ALT=""></P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>NetEase Announces Second Quarter 2024 Unaudited
Financial Results</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Hangzhou, China, August&nbsp;22, 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 for the second quarter ended June&nbsp;30, 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"><B>Second Quarter 2024 Financial Highlights</B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">Net revenues were RMB25.5 billion (US$3.5 billion), an increase of 6.1% compared with the same quarter
of 2023.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">Games and related value-added services net revenues were RMB20.1 billion (US$2.8 billion), an increase
of 6.7% compared with the same quarter of 2023.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">Youdao net revenues were RMB1.3 billion (US$181.9 million), an increase of 9.5% compared with the same
quarter of 2023.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">Cloud Music net revenues were RMB2.0 billion (US$280.8 million), an increase of 4.7% compared with the
same quarter of 2023.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">Innovative businesses and others net revenues were RMB2.1 billion (US$284.5 million), which was relatively
stable compared with the same quarter of 2023.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">Gross profit was RMB16.0 billion (US$2.2 billion), an increase of 11.6% compared with the same quarter
of 2023.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">Total operating expenses were RMB9.0 billion (US$1.2 billion), an increase of 8.9% compared with the same
quarter of 2023.</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: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">Net income attributable to the Company&rsquo;s shareholders was RMB6.8 billion (US$930.0 million). Non-GAAP
net income attributable to the Company&rsquo;s shareholders was RMB7.8 billion (US$1.1 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: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">Basic net income per share was US$0.29 (US$1.45 per ADS). Non-GAAP basic net income per share was US$0.33
(US$1.67 per ADS).<SUP>[1]</SUP></TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Second Quarter 2024 and Recent Operational
Highlights</B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">Launched popular new titles, further enhancing our appeal in diversified genres:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><I>Lost Light </I>mobile game, a multiplayer tactical shooter game, topped the iOS download charts in
China following its June&nbsp;launch.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><I>Once Human, </I>a multiplayer open-world survival game set in a post-apocalyptic world, attained over
230,000 peak concurrent users on Steam soon after its launch, ranking among the top 5 most-played games in the world.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><I>Naraka: Bladepoint </I>mobile game hit the top 3 on iOS grossing charts soon after launch in China,
and topped the iOS download chart for over a week.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">Generated continued popularity of hit games, with <I>Naraka: Bladepoint</I> reaching record-high DAUs
on its three-year anniversary, and <I>Identity V</I> continuing its strong performance, hitting record-high DAUs in July&nbsp;and August,
consecutively.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">Brought highly anticipated NetEase titles to partners&rsquo; world-leading gaming platforms:</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">Unveiled plans to bring <I>Where Winds Meet </I>and <I>Marvel Rivals</I> to consoles at PlayStation State
of Play. <I>Marvel Rivals</I> also announced during Gamescom its release date for December&nbsp;6<SUP>th</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: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">Announced <I>FragPunk</I>, a 5v5 first-person hero shooter game, at the Xbox Games Showcase 2024, highlighting
its innovative shooting experience with unique card mechanics.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify"><I>Eggy Party</I> joined Nintendo Direct with upcoming plans for a worldwide release on Switch.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="font-weight: normal; font-size: 10pt; text-align: justify; font-style: normal"><FONT STYLE="font-style: normal; font-weight: normal">Brought
                                            </FONT><FONT STYLE="font-size: 10pt; font-weight: normal"><I>World of Warcraft</I></FONT>
                                            <FONT STYLE="font-style: normal; font-weight: normal">back to China with players enthusiastically
                                            welcoming the unfolding return of Blizzard&rsquo;s game portfolio.</FONT></TD></TR></TABLE>

<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="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>[1]</SUP> As used in this announcement, non-GAAP net income attributable
to the Company&rsquo;s shareholders and non-GAAP basic and diluted net income 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>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">Youdao continued to drive growth in digital content services, online marketing services and AI-driven
subscription services, recording historic-high operating cash flow and significantly narrowed operating loss compared with the same quarter
of last 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: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">Cloud Music continued to propel quality development across its music-centric ecosystem, further augmented
its unique community, and kept bringing users high-quality music experiences.</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;The robust R&amp;D and operating capabilities
we&rsquo;ve built over the past two decades have shaped our formidable games portfolio of time-honored titles and newer innovative hits
that redefine genres and diversify our offerings,&rdquo; said Mr.&nbsp;William Ding, Chief Executive Officer and Director of NetEase.
 &ldquo;With a growing portfolio of games that feature higher quality and cover more genres, we are thrilled to bring exciting NetEase
gaming experiences to more players around the globe. As we expand our reach to players in China and worldwide, innovation remains our
priority. We will continue to explore opportunities with talent and partners in the industry to drive the next wave of gaming trends.</P>

<P STYLE="font: 10pt 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 games, Cloud Music and Youdao
are also on track for continued growth this year. Superior content is the thread that connects our NetEase family, and we continue to
bring experiences that resonate with our users across our businesses,&rdquo; Mr.&nbsp;Ding concluded.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Second Quarter 2024 Financial Results</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Net revenues for the second quarter of 2024 were
RMB25.5 billion (US$3.5 billion), compared with RMB26.9 billion and RMB24.0 billion for the preceding quarter and the same quarter of
2023, respectively.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Net revenues from games and related value-added
services were RMB20.1 billion (US$2.8 billion) for the second quarter of 2024, compared with RMB21.5 billion and RMB18.8 billion for the
preceding quarter and the same quarter of 2023, respectively. Net revenues from the operation of online games accounted for approximately
96.1% of the segment&rsquo;s net revenues for the second quarter of 2024, compared with 95.2% and 91.7% for the preceding quarter and
the same quarter of 2023, respectively. Net revenues from mobile games accounted for approximately 76.4% of net revenues from the operation
of online games for the second quarter of 2024, compared with 78.6% and 73.6% for the preceding quarter and the same quarter of 2023,
respectively.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Net revenues from Youdao were RMB1.3 billion (US$181.9
million) for the second quarter of 2024, compared with RMB1.4 billion and RMB1.2 billion for the preceding quarter and the same quarter
of 2023, respectively.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Net revenues from Cloud Music were RMB2.0 billion
(US$280.8 million) for the second quarter of 2024, compared with RMB2.0 billion and RMB1.9 billion for the preceding quarter and the same
quarter of 2023, respectively.</P>

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

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

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Net revenues from innovative businesses and others
were RMB2.1 billion (US$284.5 million) for the second quarter of 2024, compared with RMB2.0 billion and RMB2.1 billion for the preceding
quarter and the same quarter of 2023, 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 second quarter of 2024 was
RMB16.0 billion (US$2.2 billion), compared with RMB17.0 billion and RMB14.4 billion for the preceding quarter and the same quarter of
2023, respectively.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The quarter-over-quarter decrease in games and
related value-added services&rsquo; gross profit was primarily due to lower net revenues from certain mobile games. The year-over-year
increase was primarily due to increased net revenues from mobile games such as <I>Identity V </I>and <I>Justice</I> mobile game, launched
in 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">The quarter-over-quarter decrease in Youdao&rsquo;s
gross profit was primarily due to lower net revenues from its learning services. The year-over-year increase was primarily due to higher
net revenues 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">The quarter-over-quarter decrease in Cloud Music&rsquo;s
gross profit primarily resulted from the one-off adjustment of certain copyright costs in the preceding quarter. The year-over-year increase
was primarily due 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">The quarter-over-quarter and year-over-year increases
in innovative businesses and others&rsquo; gross profit were primarily due to increased gross profit from Yanxuan and several other businesses
included within the segment.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Gross profit margin for games and related value-added
services for the second quarter of 2024 was 70.0%, compared with 69.5% and 67.4% for the preceding quarter and the same quarter of 2023,
respectively. The quarter-over-quarter and year-over-year increases were mainly attributable to changes in product mix.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Gross profit margin for Youdao for the second
quarter of 2024 was 48.2%, compared with 49.0% and 47.0% for the preceding quarter and the same quarter of 2023, respectively. The quarter-over-quarter
decrease was mainly due to decreased revenue contribution from its learning services. The year-over-year increase was mainly due to the
improvement of gross profit margin 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"></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">Gross profit margin for Cloud Music for the second
quarter of 2024 was 32.1%, compared with 38.0% and 27.0% for the preceding quarter and the same quarter of 2023, respectively. The quarter-over-quarter
and year-over-year fluctuations were mainly due to the factors enumerated above. The one-off adjustment of copyright costs mentioned above
increased the gross profit margin in the preceding quarter by approximately five percentage points.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Gross profit margin for innovative businesses
and others for the second quarter of 2024 was 34.0%, compared with 33.4% and 29.5% for the preceding quarter and the same quarter of 2023,
respectively. The quarter-over-quarter and year-over-year increases were mainly due to changes in the product mix within the segment.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Total operating expenses for the second quarter
of 2024 were RMB9.0 billion (US$1.2 billion), compared with RMB9.4 billion and RMB8.3 billion for the preceding quarter and the same quarter
of 2023, respectively. The quarter-over-quarter decrease was mainly due to decreased marketing expenditures related to games and related
value-added services. The year-over-year increase was mainly due to increased research and development investments and marketing expenditures
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; text-align: justify"><U>Other Income/(Expenses)</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Other income/(expenses) consisted of investment
income, interest income, exchange gains/(losses) and others. The quarter-over-quarter and year-over-year decreases were mainly due to
net exchange losses in the second quarter of 2024 compared with net exchange gains recorded in the preceding quarter and the same quarter
of 2023.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company recorded a net income tax charge of
RMB1.3 billion (US$179.0 million) for the second quarter of 2024, compared with RMB1.5 billion and RMB712.1 million for the preceding
quarter and the same quarter of 2023, respectively. The effective tax rate for the second quarter of 2024 was 16.0%, compared with 16.0%
and 8.0% for the preceding quarter and the same quarter of 2023, 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 RMB6.8 billion (US$930.0 million) for the second quarter of 2024, compared with RMB7.6 billion and RMB8.2 billion
for the preceding quarter and the same quarter of 2023, 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$1.45 per ADS) for the second quarter of 2024, compared with US$0.33 per share (US$1.64 per ADS) and US$0.35 per share (US$1.76
per ADS) for the preceding quarter and the same quarter of 2023, respectively.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Non-GAAP net income attributable to the Company&rsquo;s
shareholders totaled RMB7.8 billion (US$1.1 billion) for the second quarter of 2024, compared with RMB8.5 billion and RMB9.0 billion for
the preceding quarter and the same quarter of 2023, 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 of
US$0.33 per share (US$1.67 per ADS) for the second quarter of 2024, compared with US$0.36 per share (US$1.82 per ADS) and US$0.39 per
share (US$1.93 per ADS) for the preceding quarter and the same quarter of 2023, respectively.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of June&nbsp;30, 2024, 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 RMB116.1 billion (US$16.0 billion), compared with RMB110.9 billion as of December&nbsp;31,
2023. Net cash provided by operating activities was RMB6.5 billion (US$898.8 million) for the second quarter of 2024, compared with RMB9.6
billion and RMB7.7 billion for the preceding quarter and the same quarter of 2023, respectively.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The board of directors has approved a dividend
of US$0.0870 per share (US$0.4350 per ADS) for the second quarter of 2024 to holders of ordinary shares and holders of ADSs as of the
close of business on September&nbsp;6, 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 September&nbsp;6, 2024 (Beijing/ Hong Kong Time). The payment date is expected to be September&nbsp;17, 2024 for
holders of ordinary shares and on or around September&nbsp;20, 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">NetEase paid a dividend of US$0.0990 per share
(US$0.4950 per ADS) for the first quarter of 2024 in June&nbsp;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">Under the Company&rsquo;s current dividend policy,
the determination to make dividend distributions and the amount of such distribution in any particular quarter will be made at the discretion
of its board of directors and will be based upon the Company&rsquo;s operations and earnings, cash flow, financial condition and other
relevant factors.</P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On November&nbsp;17, 2022, the Company announced
that its board of directors had approved a 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 June&nbsp;30, 2024, approximately 11.9 million ADSs had been repurchased under this program for
a total cost of US$1.1 billion.</P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>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">NetEase&rsquo;s management team will host a teleconference
call with a simultaneous webcast at 8:00 a.m.&nbsp;New York Time on Thursday, August&nbsp;22, 2024 (Beijing/Hong Kong Time: 8:00 p.m.,
Thursday, August&nbsp;22, 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">Interested parties may participate in the conference
call by dialing 1-914-202-3258 and providing conference ID: 10040836, 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: 10040836. The replay will be available through August&nbsp;29, 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">This call will be webcast live and the rep<FONT STYLE="color: Black">lay
will be available for 12 months. Both will be available on NetEase&rsquo;s Investor Relations website at <U>http://ir.netease.com/</U>.</FONT></P>

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

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

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

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

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: Black">For more information,
please visit: <U>http://ir.netease.com/</U>.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This announcement contains statements of a forward-looking
nature. These statements are made under the &ldquo;safe harbor&rdquo; provisions of the U.S. Private Securities Litigation Reform Act
of 1995. You can identify these forward-looking statements by terminology such as &ldquo;will,&rdquo; &ldquo;expects,&rdquo; &ldquo;anticipates,&rdquo;
 &ldquo;future,&rdquo; &ldquo;intends,&rdquo; &ldquo;plans,&rdquo; &ldquo;believes,&rdquo; &ldquo;estimates&rdquo; and similar 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; risks 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"><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 attributable to the Company&rsquo;s shareholders and non-GAAP basic and diluted net income per ADS
and per share, as supplemental metrics in reviewing and assessing its operating performance and formulating its business plan. The presentation
of non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared
and presented in accordance with accounting principles generally accepted in the United States of America (&ldquo;U.S. GAAP&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">NetEase defines non-GAAP net income attributable
to the Company&rsquo;s shareholders as net income attributable to the Company&rsquo;s shareholders excluding share-based compensation
expenses. Non-GAAP net income 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 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 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 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: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>NETEASE,&nbsp;INC.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>(in thousands)</B></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">&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&nbsp;31,</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center">June&nbsp;30,</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center">June&nbsp;30,</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&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">2024</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">2024</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: 61%; font-size: 10pt; text-align: left; padding-left: 0.125in">Cash and cash equivalents</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">18,982,239</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">2,612,043</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; padding-left: 0.125in">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">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">93,456,225</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">12,860,005</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-left: 0.125in">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">2,777,206</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">2,869,827</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">394,901</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-left: 0.125in">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">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">6,364,847</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">875,832</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; padding-left: 0.125in">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">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">574,441</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">79,046</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-left: 0.125in">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">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">5,487,749</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">755,139</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; padding-left: 0.125in">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">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">10,417,802</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">1,433,537</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">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">138,153,130</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">19,010,503</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">&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; padding-left: 0.125in">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">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">8,092,032</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">1,113,501</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-left: 0.125in">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">4,075,143</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">4,022,255</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">553,481</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-left: 0.125in">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">1,560,088</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">1,504,697</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">207,053</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-left: 0.125in">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">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">3,940,000</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">542,162</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-left: 0.125in">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">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">3,250</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">447</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; padding-left: 0.125in">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">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">27,627,257</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">3,801,637</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">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">45,189,491</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">6,218,281</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">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">183,342,621</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">25,228,784</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">&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; padding-left: 0.125in">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">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">792,003</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">108,983</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-left: 0.125in">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">4,857,206</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">3,606,360</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">496,252</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-left: 0.125in">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">2,571,534</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">2,381,220</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">327,667</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-left: 0.125in">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">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">13,187,247</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">1,814,626</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-left: 0.125in">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">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">13,615,857</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">1,873,604</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; padding-left: 0.125in">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">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">12,345,208</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">1,698,757</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">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">45,927,895</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">6,319,889</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">&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; padding-left: 0.125in">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">2,299,303</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">1,448,781</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">199,359</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-left: 0.125in">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">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">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">58,894</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; padding-left: 0.125in">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">1,271,113</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">1,192,543</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">164,099</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">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">3,069,321</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">422,352</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">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">48,997,216</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">6,742,241</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">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">119,498</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">16,443</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">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">130,909,906</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">18,013,803</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">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">3,316,001</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">456,297</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">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">134,225,907</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">18,470,100</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&#8239;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">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">183,342,621</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">25,228,784</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>



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

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


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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>(in thousands, except per share data or per ADS data)</B> &nbsp;</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="text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="14" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">Three
    Months Ended</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="10" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">Six
    Months Ended</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">June&nbsp;30,</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">March&nbsp;31,</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">June&nbsp;30,</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">June&nbsp;30,</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">June&nbsp;30,</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">June&nbsp;30,</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">June&nbsp;30,</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">2023</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">2024</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">2024</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">2024</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">2023</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">2024</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">2024</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; 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">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="text-indent: -0.125in; padding-left: 0.125in; width: 30%; 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: 7%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">24,011,301</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: 7%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">26,851,741</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: 7%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">25,485,805</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: 7%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">3,506,963</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: 7%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">49,057,588</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: 7%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">52,337,546</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: 7%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">7,201,886</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="text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">Cost of revenues</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(9,635,888</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(9,835,821</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(9,443,587</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(1,299,481</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(19,785,629</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(19,279,408</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(2,652,935</FONT></TD><TD STYLE="font-size: 10pt; color: red; 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="text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Gross profit</FONT></TD><TD STYLE="font-size: 10pt"><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">14,375,413</FONT></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="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">17,015,920</FONT></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="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">16,042,218</FONT></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="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">2,207,482</FONT></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="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">29,271,959</FONT></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="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">33,058,138</FONT></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="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">4,548,951</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="text-indent: -0.125in; padding-left: 0.125in; 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 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="text-indent: -0.125in; padding-left: 0.125in; 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="text-indent: -0.125in; padding-left: 0.125in; 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: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(3,271,705</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(4,022,204</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(3,501,737</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(481,855</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(6,176,751</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(7,523,941</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(1,035,329</FONT></TD><TD STYLE="font-size: 10pt; color: red; 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="text-indent: -0.125in; padding-left: 0.125in; 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: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(1,132,147</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(1,196,475</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(1,091,441</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(150,187</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(2,153,825</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(2,287,916</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(314,828</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Research and development expenses</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(3,908,907</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(4,174,758</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(4,455,717</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(613,127</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(7,658,639</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(8,630,475</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(1,187,593</FONT></TD><TD STYLE="font-size: 10pt; color: red; 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="text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Total operating expenses</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(8,312,759</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(9,393,437</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(9,048,895</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(1,245,169</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(15,989,215</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(18,442,332</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(2,537,750</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Operating profit</FONT></TD><TD STYLE="font-size: 10pt"><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">6,062,654</FONT></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="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">7,622,483</FONT></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="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">6,993,323</FONT></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="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">962,313</FONT></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="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">13,282,744</FONT></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="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">14,615,806</FONT></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="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">2,011,201</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="text-indent: -0.125in; padding-left: 0.125in; 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 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="text-indent: -0.125in; padding-left: 0.125in; 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="text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Investment 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">287,691</FONT></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">179,291</FONT></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">103,674</FONT></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">14,266</FONT></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">759,059</FONT></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">282,965</FONT></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">38,937</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="text-indent: -0.125in; padding-left: 0.125in; 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">935,578</FONT></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">1,277,597</FONT></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">1,186,219</FONT></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">163,229</FONT></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">1,711,608</FONT></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">2,463,816</FONT></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">339,032</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="text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Exchange gains/(losses), 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">1,464,956</FONT></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">15,011</FONT></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: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(239,375</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(32,939</FONT></TD><TD STYLE="font-size: 10pt; color: red; 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">1,078,388</FONT></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: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(224,364</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(30,874</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Other, net</FONT></TD><TD STYLE="font-size: 10pt"><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">120,826</FONT></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="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">193,888</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="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">85,694</FONT></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="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">11,792</FONT></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="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">378,859</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="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">279,582</FONT></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="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">38,472</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="text-indent: -0.125in; padding-left: 0.125in; 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">8,871,705</FONT></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">9,288,270</FONT></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">8,129,535</FONT></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">1,118,661</FONT></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">17,210,658</FONT></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">17,417,805</FONT></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">2,396,768</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="text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Income tax</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(712,090</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(1,485,910</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(1,300,939</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(179,015</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(2,340,649</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(2,786,849</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(383,483</FONT></TD><TD STYLE="font-size: 10pt; color: red; 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="text-indent: -0.125in; padding-left: 0.125in; 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">8,159,615</FONT></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">7,802,360</FONT></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">6,828,596</FONT></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">939,646</FONT></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">14,870,009</FONT></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">14,630,956</FONT></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">2,013,285</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="text-indent: -0.125in; padding-left: 0.125in; 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 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="text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Accretion of redeemable noncontrolling&#8239;interests</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(868</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(958</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(960</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(132</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(1,728</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(1,918</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(264</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Net loss/(income) attributable to noncontrolling
    interests and redeemable noncontrolling&#8239;interests</FONT></TD><TD STYLE="font-size: 10pt"><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">84,020</FONT></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: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(167,456</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(68,887</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(9,479</FONT></TD><TD STYLE="font-size: 10pt; color: red; 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="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">129,120</FONT></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: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(236,343</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(32,522</FONT></TD><TD STYLE="font-size: 10pt; color: red; 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="text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Net income 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="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">8,242,767</FONT></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="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">7,633,946</FONT></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="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">6,758,749</FONT></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="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">930,035</FONT></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="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">14,997,401</FONT></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="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">14,392,695</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="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">1,980,499</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="text-indent: -0.125in; padding-left: 0.125in; 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 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="text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">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="text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt"><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">2.56</FONT></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">2.38</FONT></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">2.10</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">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">4.66</FONT></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">4.48</FONT></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">0.62</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="text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt"><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">2.54</FONT></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">2.35</FONT></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">2.08</FONT></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">4.61</FONT></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">4.43</FONT></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">0.61</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="text-indent: -0.125in; padding-left: 0.125in; 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 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="text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">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">&nbsp;</FONT></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="text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt"><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">12.80</FONT></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">11.88</FONT></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">10.50</FONT></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">1.45</FONT></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">23.29</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">22.39</FONT></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">3.08</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="text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt"><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">12.69</FONT></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">11.75</FONT></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">10.42</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">1.43</FONT></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">23.05</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">22.17</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">3.05</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="text-indent: -0.125in; padding-left: 0.125in; 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 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="text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">Weighted average number of ordinary&#8239;shares
    used&#8239;in calculating net income&#8239;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="text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt"><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">3,218,783</FONT></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">3,211,665</FONT></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">3,217,699</FONT></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">3,217,699</FONT></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">3,219,926</FONT></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">3,214,682</FONT></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">3,214,682</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="text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt"><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">3,248,916</FONT></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">3,249,452</FONT></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">3,243,056</FONT></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">3,243,056</FONT></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">3,252,707</FONT></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">3,246,254</FONT></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">3,246,254</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></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: 0.15in; text-align: left"><FONT STYLE="font-size: 8pt">*</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 8pt">&#8239;Each ADS represents
                                            five ordinary shares.</FONT></TD>
</TR></TABLE>

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

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


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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>(in thousands)</B></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="text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="14" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">Three
    Months Ended</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="10" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">Six
    Months Ended</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">June
    30,</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">March
    31,</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">June
    30,</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">June
    30,</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">June
    30,</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">June
    30,</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">June
    30,</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">2023</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">2024</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">2024</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">2024</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">2023</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">2024</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">2024</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">RMB</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">RMB</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">RMB</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">USD
    (Note 1)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">RMB</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">RMB</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">USD
    (Note 1)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Cash flows
    from operating activities:</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="text-indent: -0.125in; font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; width: 30%; text-align: left"><FONT STYLE="font-size: 8pt">Net income</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 7%; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">8,159,615</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 7%; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">7,802,360</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 7%; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">6,828,596</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 7%; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">939,646</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 7%; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">14,870,009</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 7%; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">14,630,956</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 7%; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">2,013,285</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; 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="text-indent: -0.125in; font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-size: 8pt">Adjustments
    to reconcile net income to net cash provided by operating activities:</FONT></TD><TD STYLE="font-size: 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="text-indent: -0.125in; font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-size: 8pt">Depreciation and amortization</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">661,363</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">567,923</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">631,957</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">86,960</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1,743,632</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1,199,880</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">165,109</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; 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="text-indent: -0.125in; font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-size: 8pt">Fair value changes of equity
    security and other investments</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(78,035</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(368,258</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(7,887</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(1,085</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(304,755</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(376,145</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(51,759</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-size: 8pt">Impairment losses on investments</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">47,870</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">128,417</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">210,741</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">28,999</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">47,870</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">339,158</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">46,670</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; 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="text-indent: -0.125in; font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; 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: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(96,884</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(60,810</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(128,295</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(17,654</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(234,800</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(189,105</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(26,022</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-size: 8pt">Share-based compensation cost</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">787,862</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">894,300</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1,079,056</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">148,482</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1,610,275</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1,973,356</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">271,543</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; 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="text-indent: -0.125in; font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-size: 8pt">Allowance for expected credit
    losses</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">8,540</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">11,600</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">9,281</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1,277</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">29,260</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">20,881</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">2,873</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-size: 8pt">Losses/(gains) on disposal of
    property, equipment and software</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">252</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">2,132</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(326</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(45</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(358</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1,806</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">249</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; 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="text-indent: -0.125in; font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-size: 8pt">Unrealized exchange (gains)/losses</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(1,466,295</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(17,509</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(209,311</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(28,802</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(1,080,334</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(226,820</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(31,211</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-align: left"><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: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(16,382</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(13,487</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(141,114</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(19,418</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(22,150</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(154,601</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(21,274</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; 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="text-indent: -0.125in; font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-size: 8pt">Deferred income taxes</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(334,380</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">485,054</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(1,280,076</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(176,144</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">243,286</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(795,022</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(109,399</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-size: 8pt">Share of results on equity method
    investees</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(129,292</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">164,271</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">39,200</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">5,394</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(225,100</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">203,471</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">27,999</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; 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="text-indent: -0.125in; font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-size: 8pt">Changes in operating assets and
    liabilities:</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="text-indent: -0.125in; font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left"><FONT STYLE="font-size: 8pt">Accounts receivable</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">770,551</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(1,358,711</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1,410,478</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">194,088</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(345,731</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">51,767</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">7,123</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; 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="text-indent: -0.125in; font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in"><FONT STYLE="font-size: 8pt">Inventories</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">69,410</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">91,378</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">29,552</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">4,067</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">186,740</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">120,930</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">16,641</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left"><FONT STYLE="font-size: 8pt">Prepayments and other assets</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(7,233</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">326,140</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">530,856</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">73,048</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">118,594</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">856,996</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">117,927</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; 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="text-indent: -0.125in; font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left"><FONT STYLE="font-size: 8pt">Accounts payable</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(115,791</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(7,001</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(126,862</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(17,457</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(728,730</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(133,863</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(18,420</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left"><FONT STYLE="font-size: 8pt">Salary and welfare payables</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">758,106</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(2,178,608</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">879,058</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">120,963</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(1,467,631</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(1,299,550</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(178,824</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; 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="text-indent: -0.125in; font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left"><FONT STYLE="font-size: 8pt">Taxes payable</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(992,892</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1,271,822</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(1,462,700</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(201,274</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(259,176</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(190,878</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(26,266</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left"><FONT STYLE="font-size: 8pt">Contract liabilities</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(41,196</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1,574,086</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(1,270,324</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(174,801</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">448,795</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">303,762</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">41,799</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; 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="text-indent: -0.125in; font: 10pt Times New Roman, Times, Serif; padding-left: 0.375in; text-align: left"><FONT STYLE="font-size: 8pt">Accrued liabilities and other
    payables</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(306,784</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">242,070</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(490,048</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(67,433</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(950,620</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(247,978</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(34,123</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.25in; text-align: left"><FONT STYLE="font-size: 8pt">Net cash provided by operating
    activities</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">7,678,405</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">9,557,169</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">6,531,832</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">898,811</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">13,679,076</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">16,089,001</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">2,213,920</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; 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="text-indent: -0.125in; padding-left: 0.125in; 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 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="text-indent: -0.125in; padding-left: 0.125in; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Cash flows
    from investing activities:</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="text-indent: -0.125in; font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; 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: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(520,544</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(415,018</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(168,880</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(23,239</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(1,173,483</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(583,898</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(80,347</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-size: 8pt">Proceeds from sale of property,
    equipment and software</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">4,292</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">3,506</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">660</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">91</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">6,796</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">4,166</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">573</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; 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="text-indent: -0.125in; font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-size: 8pt">Purchase of intangible assets,
    content and licensed copyrights</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(283,321</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(188,821</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(399,533</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(54,978</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(1,110,003</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(588,354</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(80,960</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-size: 8pt">Net
    changes of short-term investments with terms of three months or less</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1,630,013</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">2,401,649</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(8,194,289</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(1,127,572</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">906,862</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(5,792,640</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(797,094</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; 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="text-indent: -0.125in; font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-size: 8pt">Proceeds
    from maturities of short-term investments with terms over three months</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">104,269</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-align: left"><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: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(270,228</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(481,804</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(193,450</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(26,620</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(1,499,276</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(675,254</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(92,918</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; 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="text-indent: -0.125in; font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-align: left"><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"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">16,531</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">85,456</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">840,649</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">115,677</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">57,811</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">926,105</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">127,436</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-size: 8pt">Placement/rollover of matured
    time deposits</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(10,874,831</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(34,558,836</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(61,775,606</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(8,500,606</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(47,194,934</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(96,334,442</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(13,256,060</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; 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="text-indent: -0.125in; font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; 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"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">21,918,791</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">46,048,382</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">55,211,839</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">7,597,402</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">44,251,140</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">101,260,221</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">13,933,870</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-size: 8pt">Change in other long-term assets</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(31,189</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(34,625</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(172,543</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(23,743</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(152,030</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(207,168</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(28,507</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; 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: 10pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.25in; text-align: left"><FONT STYLE="font-size: 8pt">Net cash provided by/(used in)investing
    activities</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">11,589,514</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">12,859,889</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(14,851,153</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(2,043,588</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(5,802,848</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(1,991,264</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(274,007</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; 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 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="text-indent: -0.125in; padding-left: 0.125in; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Cash flows
    from financing activities:</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="text-indent: -0.125in; font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-size: 8pt">Net changes from loans with terms
    of three months or less</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(14,970,935</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(399,726</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(2,085,053</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(286,913</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(12,332,895</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(2,484,779</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(341,917</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; 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="text-indent: -0.125in; font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-size: 8pt">Proceeds of loans with terms
    over three months</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">2,171,541</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">6,998,250</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1,069,020</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">147,102</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">3,451,100</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">8,067,270</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1,110,093</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-align: left"><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: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(3,233,500</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(957,000</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(10,681,827</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(1,469,868</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(3,273,922</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(11,638,827</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(1,601,556</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; 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="text-indent: -0.125in; font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-size: 8pt">Net
    amounts received related to capital contribution from noncontrolling interests shareholders</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">22,228</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">42,214</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">50,572</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">6,959</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">46,577</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">92,786</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">12,768</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-align: left"><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: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(2,195,210</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(1,233,780</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(2,007,030</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(276,177</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(4,311,967</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(3,240,810</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(445,950</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; 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="text-indent: -0.125in; font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-size: 8pt">Dividends paid to NetEase&rsquo;s
    shareholders</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(2,119,316</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(4,945,016</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(2,264,799</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(311,647</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(3,331,656</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(7,209,815</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(992,104</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-size: 8pt">Net cash used in financing activities</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(20,325,192</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(495,058</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(15,919,117</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(2,190,544</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(19,752,763</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(16,414,175</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(2,258,666</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; 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="text-indent: -0.125in; padding-left: 0.125in; 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 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="text-indent: -0.125in; font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-align: left"><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: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(47,876</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(43,138</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">8,234</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1,133</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(32,378</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(34,904</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(4,803</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; 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="text-indent: -0.125in; padding-left: 0.125in; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Net
    (decrease)/increase in cash, cash equivalents and restricted cash</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(1,105,149</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">21,878,862</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(24,230,204</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(3,334,188</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(11,908,913</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(2,351,342</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(323,556</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><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"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">16,784,561</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">24,206,658</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">46,085,520</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">6,341,579</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">27,588,325</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">24,206,658</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">3,330,947</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; 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="text-indent: -0.125in; padding-left: 0.125in; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Cash, cash
    equivalents and restricted cash, at end of the period</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">15,679,412</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">46,085,520</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">21,855,316</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">3,007,391</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">15,679,412</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">21,855,316</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">3,007,391</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; 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 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="text-indent: -0.125in; padding-left: 0.125in; font: bold 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Supplemental
    disclosures of cash flow information:</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="text-indent: -0.125in; font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-size: 8pt">Cash paid for income taxes, net</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1,625,045</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1,182,711</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">2,848,493</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">391,966</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">2,699,624</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">4,031,204</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">554,712</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; 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="text-indent: -0.125in; font: 10pt Times New Roman, Times, Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-size: 8pt">Cash paid for interest expenses</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">326,646</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">146,455</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">152,943</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">21,046</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">602,360</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">299,398</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">41,199</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; 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">The accompanying notes are an integral part of this announcement.</P>

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="14" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">Three
    Months Ended</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="10" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">Six
    Months Ended</FONT></TD><TD STYLE="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"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">June&nbsp;30,</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">March&nbsp;31,</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">June&nbsp;30,</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">June&nbsp;30,</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">June&nbsp;30,</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">June&nbsp;30,</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">June&nbsp;30,</FONT></TD><TD STYLE="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"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">2023</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">2024</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">2024</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">2024</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">2023</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">2024</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">2024</FONT></TD><TD STYLE="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"><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="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Net revenues:</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="width: 30%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Games and related value-added
    services</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: 7%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">18,798,646</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: 7%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">21,460,378</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: 7%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">20,055,819</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: 7%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">2,759,772</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: 7%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">38,864,243</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: 7%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">41,516,197</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: 7%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">5,712,819</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: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">Youdao</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">1,206,634</FONT></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">1,391,859</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">1,321,721</FONT></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">181,875</FONT></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">2,369,904</FONT></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">2,713,580</FONT></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">373,401</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">Cloud Music</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">1,948,539</FONT></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">2,029,541</FONT></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">2,040,952</FONT></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">280,844</FONT></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">3,908,380</FONT></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">4,070,493</FONT></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">560,118</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">Innovative businesses and others</FONT></TD><TD STYLE="font-size: 10pt"><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">2,057,482</FONT></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="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">1,969,963</FONT></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="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">2,067,313</FONT></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="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">284,472</FONT></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="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">3,915,061</FONT></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="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">4,037,276</FONT></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="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">555,548</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">Total net revenues</FONT></TD><TD STYLE="font-size: 10pt"><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">24,011,301</FONT></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="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">26,851,741</FONT></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="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">25,485,805</FONT></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="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">3,506,963</FONT></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="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">49,057,588</FONT></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="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">52,337,546</FONT></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="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">7,201,886</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 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"><FONT STYLE="font-size: 8pt; color: Black">Cost of revenues:</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">Games and related value-added services</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(6,122,836</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(6,555,311</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(6,008,604</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(826,812</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(12,805,884</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(12,563,915</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(1,728,853</FONT></TD><TD STYLE="font-size: 10pt; color: red; 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 STYLE="font-size: 8pt; color: Black">Youdao</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(639,459</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(710,356</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(684,942</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(94,251</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(1,200,879</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(1,395,298</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(191,999</FONT></TD><TD STYLE="font-size: 10pt; color: red; 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">Cloud Music</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(1,422,855</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(1,259,006</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(1,385,756</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(190,686</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(2,943,233</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(2,644,762</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(363,931</FONT></TD><TD STYLE="font-size: 10pt; color: red; 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"><FONT STYLE="font-size: 8pt; color: Black">Innovative businesses and others</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(1,450,738</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(1,311,148</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(1,364,285</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(187,732</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(2,835,633</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(2,675,433</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(368,152</FONT></TD><TD STYLE="font-size: 10pt; color: red; 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">Total cost of revenues</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(9,635,888</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(9,835,821</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(9,443,587</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(1,299,481</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(19,785,629</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(19,279,408</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(2,652,935</FONT></TD><TD STYLE="font-size: 10pt; color: red; 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 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">Gross profit:</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">Games and related value-added services</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">12,675,810</FONT></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">14,905,067</FONT></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">14,047,215</FONT></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">1,932,960</FONT></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">26,058,359</FONT></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">28,952,282</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">3,983,966</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 STYLE="font-size: 8pt; color: Black">Youdao</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">567,175</FONT></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">681,503</FONT></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">636,779</FONT></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">87,624</FONT></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">1,169,025</FONT></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">1,318,282</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">181,402</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">Cloud Music</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">525,684</FONT></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">770,535</FONT></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">655,196</FONT></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">90,158</FONT></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">965,147</FONT></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">1,425,731</FONT></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">196,187</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">Innovative businesses and others</FONT></TD><TD STYLE="font-size: 10pt"><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">606,744</FONT></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="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">658,815</FONT></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="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">703,028</FONT></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="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">96,740</FONT></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="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">1,079,428</FONT></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="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">1,361,843</FONT></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="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">187,396</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">Total gross profit</FONT></TD><TD STYLE="font-size: 10pt"><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">14,375,413</FONT></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="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">17,015,920</FONT></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="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">16,042,218</FONT></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="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">2,207,482</FONT></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="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">29,271,959</FONT></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="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">33,058,138</FONT></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="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">4,548,951</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 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">Gross profit margin:</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">Games and related value-added services</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">67.4</FONT></TD><TD STYLE="font-size: 10pt; 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">69.5</FONT></TD><TD STYLE="font-size: 10pt; 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">70.0</FONT></TD><TD STYLE="font-size: 10pt; 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">70.0</FONT></TD><TD STYLE="font-size: 10pt; 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">67.0</FONT></TD><TD STYLE="font-size: 10pt; 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">69.7</FONT></TD><TD STYLE="font-size: 10pt; 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">69.7</FONT></TD><TD STYLE="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="font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">Youdao</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">47.0</FONT></TD><TD STYLE="font-size: 10pt; 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">49.0</FONT></TD><TD STYLE="font-size: 10pt; 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">48.2</FONT></TD><TD STYLE="font-size: 10pt; 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">48.2</FONT></TD><TD STYLE="font-size: 10pt; 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">49.3</FONT></TD><TD STYLE="font-size: 10pt; 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">48.6</FONT></TD><TD STYLE="font-size: 10pt; 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">48.6</FONT></TD><TD STYLE="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="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Cloud Music</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">27.0</FONT></TD><TD STYLE="font-size: 10pt; 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">38.0</FONT></TD><TD STYLE="font-size: 10pt; 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">32.1</FONT></TD><TD STYLE="font-size: 10pt; 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">32.1</FONT></TD><TD STYLE="font-size: 10pt; 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">24.7</FONT></TD><TD STYLE="font-size: 10pt; 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">35.0</FONT></TD><TD STYLE="font-size: 10pt; 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">35.0</FONT></TD><TD STYLE="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="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Innovative businesses and others</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">29.5</FONT></TD><TD STYLE="font-size: 10pt; 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">33.4</FONT></TD><TD STYLE="font-size: 10pt; 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">34.0</FONT></TD><TD STYLE="font-size: 10pt; 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">34.0</FONT></TD><TD STYLE="font-size: 10pt; 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">27.6</FONT></TD><TD STYLE="font-size: 10pt; 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">33.7</FONT></TD><TD STYLE="font-size: 10pt; 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">33.7</FONT></TD><TD STYLE="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-top: 0pt; margin-bottom: 0pt">The accompanying notes are an integral part of this announcement.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>NETEASE,&nbsp;INC.</B></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 = RMB7.2672 on the last trading day of June&nbsp;2024 (June&nbsp;28,
2024) as set forth in the H.10 statistical release of the U.S. Federal Reserve Board. No representation is made that the RMB amounts could
have been, or could be, converted into US$ at that rate on June&nbsp;28, 2024, 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="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="14" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 10pt">Three
    Months Ended</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="10" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 10pt">Six
    Months Ended</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 10pt">June&nbsp;30,</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 10pt">March&nbsp;31,</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 10pt">June&nbsp;30,</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 10pt">June&nbsp;30,</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 10pt">June&nbsp;30,</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 10pt">June&nbsp;30,</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 10pt">June&nbsp;30,</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 10pt">2023</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 10pt">2024</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 10pt">2024</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 10pt">2024</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 10pt">2023</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 10pt">2024</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 10pt">2024</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <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">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="font-size: 10pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">Share-based compensation cost included in:</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="font-size: 10pt; vertical-align: bottom; background-color: White">
    <TD STYLE="width: 29%; font-size: 10pt"><FONT STYLE="font-size: 10pt">Cost of revenues</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: 7%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">193,001</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: 7%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">254,935</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: 7%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">319,949</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: 8%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">44,026</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: 7%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">396,515</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: 7%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">574,884</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: 7%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">79,107</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">Operating expenses</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="font-size: 10pt; vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Selling and marketing expenses</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">31,069</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">17,869</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">42,865</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">5,898</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">63,422</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">60,734</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">8,357</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-left: 0.125in; font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">General and administrative
    expenses</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">281,326</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">289,636</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">286,350</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">39,403</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">575,607</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">575,986</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">79,258</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.125in; font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Research and development expenses</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">282,466</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">331,860</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">429,892</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">59,155</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">574,731</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">761,752</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">104,821</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  </TABLE>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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 subsidiary to meet
the disclosure requirements under 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="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="14" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 10pt">Three
    Months Ended</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="10" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 10pt">Six
    Months Ended</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 10pt">June&nbsp;30,</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 10pt">March&nbsp;31,</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 10pt">June&nbsp;30,</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 10pt">June&nbsp;30,</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 10pt">June&nbsp;30,</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 10pt">June&nbsp;30,</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 10pt">June&nbsp;30,</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 10pt">2023</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 10pt">2024</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 10pt">2024</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 10pt">2024</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 10pt">2023</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 10pt">2024</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 10pt">2024</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <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">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="font-size: 10pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; width: 29%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">Net income&#8239;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: 7%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">8,242,767</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: 7%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">7,633,946</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: 7%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">6,758,749</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: 8%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">930,035</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: 7%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">14,997,401</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: 7%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">14,392,695</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: 7%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">1,980,499</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">Add: Share-based compensation</FONT></TD><TD STYLE="font-size: 10pt"><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">774,683</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="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">876,898</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="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">1,059,939</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="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">145,852</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="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">1,586,283</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="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">1,936,837</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="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">266,518</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">Non-GAAP net income attributable to the Company&rsquo;s
    shareholders</FONT></TD><TD STYLE="font-size: 10pt"><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">9,017,450</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="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">8,510,844</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="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">7,818,688</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="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">1,075,887</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="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">16,583,684</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="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">16,329,532</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="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">2,247,017</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; 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="font-size: 10pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 10pt">Non-GAAP net income 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">&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="font-size: 10pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Basic</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">2.80</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">2.65</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">2.43</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">0.33</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">5.15</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">5.08</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">0.70</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Diluted</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">2.78</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">2.62</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">2.41</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">0.33</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">5.10</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">5.03</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">0.69</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; 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="font-size: 10pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 10pt">Non-GAAP net income 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">&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="font-size: 10pt; vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Basic</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">14.01</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">13.25</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">12.15</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">1.67</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">25.75</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">25.40</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">3.49</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Diluted</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">13.88</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">13.10</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">12.05</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">1.66</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">25.49</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">25.15</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">3.46</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  </TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">*&#8239;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: 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-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

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

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

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

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

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

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

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

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; white-space: nowrap; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; 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">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="6" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">For
    the Six Months Ended June&nbsp;30, 2023 IFRSs adjustments</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; 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">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; white-space: nowrap; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; 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">Amounts
    as<BR>
    reported under U.S.</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; 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">Investments
    measured at fair<BR>
    value</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; 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">Redeemable<BR>
    noncontrolling interests</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; 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"><B>Amounts
    as<BR>
    reported under</B></FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; white-space: nowrap; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 8pt; color: Black"><B>GAAP</B></FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt; font-style: italic"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; font-style: italic; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">(Note
    (a))</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt; font-style: italic"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 8pt; color: Black"><I>(Note
    (b))</I></FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 8pt; color: Black"><B>IFRSs</B></FONT></TD><TD STYLE="white-space: nowrap; text-align: center; 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="text-indent: -0.125in; padding-left: 0.125in; width: 48%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Investment
    income, net</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: 10%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">759,059</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: 10%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">694,453</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: 10%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-</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: 10%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1,453,512</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="text-indent: -0.125in; padding-left: 0.125in; 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-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <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-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">17,210,658</FONT></TD><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-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <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-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">694,453</FONT></TD><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-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <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-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-</FONT></TD><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-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <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-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">17,905,111</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; 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="text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Income
    tax</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(2,340,649</FONT></TD><TD STYLE="font-size: 10pt; color: red; 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">15,289</FONT></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; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(2,325,360</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; 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-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <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-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">14,870,009</FONT></TD><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-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <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-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">709,742</FONT></TD><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-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <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-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-</FONT></TD><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-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <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-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">15,579,751</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; 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="text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Accretion
    of redeemable noncontrolling interests</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(1,728</FONT></TD><TD STYLE="font-size: 10pt; color: red; 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">-</FONT></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">1,728</FONT></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="text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Net
    loss attributable to noncontrolling interests and redeemable noncontrolling interests</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">129,120</FONT></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; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(3,879</FONT></TD><TD STYLE="font-size: 10pt; color: red; 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">125,241</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="text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Net
    income attributable to the Company&rsquo;s shareholders</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">14,997,401</FONT></TD><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-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">709,742</FONT></TD><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; color: red; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(2,151</FONT></TD><TD STYLE="font-size: 10pt; color: red; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">15,704,992</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  </TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"><TR STYLE="vertical-align: bottom"><TD STYLE="text-indent: -0.125in; padding-left: 0.125in; white-space: nowrap; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; 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">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="6" 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">For
    the Six Months Ended June&nbsp;30, 2024 IFRSs adjustments</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; 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">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; white-space: nowrap; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; 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">Amounts
    as<BR>
    reported under U.S.</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; 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">Investments
    measured at fair<BR>
    value</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; 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">Redeemable<BR>
    noncontrolling interests</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; 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"><B>Amounts
    as<BR>
    reported under</B></FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; white-space: nowrap; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; white-space: nowrap; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 8pt; color: Black"><B>GAAP</B></FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt; font-style: italic"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; white-space: nowrap; font-size: 10pt; font-style: italic; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">(Note
    (a))</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt; font-style: italic"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; white-space: nowrap; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 8pt; color: Black"><I>(Note
    (b))</I></FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; white-space: nowrap; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 8pt; color: Black"><B>IFRSs</B></FONT></TD><TD STYLE="white-space: nowrap; text-align: center; 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="text-indent: -0.125in; padding-left: 0.125in; width: 48%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Fair
    value changes of redeemable noncontrolling interests</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: 10%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-</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: 10%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-</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; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="width: 10%; font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(571</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="width: 10%; font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(571</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Investment
    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">282,965</FONT></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: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(108,548</FONT></TD><TD STYLE="font-size: 10pt; color: red; 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">-</FONT></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">174,417</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="text-indent: -0.125in; padding-left: 0.125in; 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-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <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-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">17,417,805</FONT></TD><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; color: red; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(108,548</FONT></TD><TD STYLE="font-size: 10pt; color: red; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(571</FONT></TD><TD STYLE="font-size: 10pt; color: red; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <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-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">17,308,686</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Income
    tax</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(2,786,849</FONT></TD><TD STYLE="font-size: 10pt; color: red; 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">7,127</FONT></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; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(2,779,722</FONT></TD><TD STYLE="font-size: 10pt; color: red; 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="text-indent: -0.125in; padding-left: 0.125in; 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-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <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-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">14,630,956</FONT></TD><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; color: red; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(101,421</FONT></TD><TD STYLE="font-size: 10pt; color: red; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; color: red; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(571</FONT></TD><TD STYLE="font-size: 10pt; color: red; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <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-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">14,528,964</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Accretion
    of redeemable noncontrolling interests</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(1,918</FONT></TD><TD STYLE="font-size: 10pt; color: red; 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">-</FONT></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">1,918</FONT></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: rgb(204,238,255)">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Net
    income attributable to noncontrolling interests and redeemable noncontrolling interests</FONT></TD><TD STYLE="font-size: 10pt; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(236,343</FONT></TD><TD STYLE="font-size: 10pt; color: red; 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">-</FONT></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">571</FONT></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: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(235,772</FONT></TD><TD STYLE="font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Net
    income attributable to the Company&rsquo;s shareholders</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">14,392,695</FONT></TD><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; color: red; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; color: red; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(101,421</FONT></TD><TD STYLE="font-size: 10pt; color: red; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">1,918</FONT></TD><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-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">14,293,192</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  </TABLE>

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

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

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



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"><TR STYLE="vertical-align: bottom"><TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt"><FONT STYLE="color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt"><FONT STYLE="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">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt">As
    of December 31, 2023 IFRSs adjustments</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; 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">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; 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">Amounts
    as<BR>
    reported under U.S.</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; 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">Investments
    measured at fair<BR>
    value</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; 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">Redeemable<BR>
    noncontrolling interests</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; 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"><B>Amounts
    as<BR>
    reported under</B></FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; white-space: nowrap; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 8pt; color: Black"><B>GAAP</B></FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt; font-style: italic"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; white-space: nowrap; font-size: 10pt; font-style: italic; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">(Note
    (a))</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt; font-style: italic"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; white-space: nowrap; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 8pt; color: Black"><I>(Note
    (b))</I></FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; white-space: nowrap; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 8pt; color: Black"><B>IFRSs</B></FONT></TD><TD STYLE="white-space: nowrap; text-align: center; 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: 48%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Other long-term
    assets</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: 10%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">28,471,568</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; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="width: 10%; font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(15,673,947</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</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: 10%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-</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: 10%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">12,797,621</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; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Financial assets at
    fair value through profit or loss</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">18,369,496</FONT></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">18,369,496</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">Total
    Assets</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">185,924,978</FONT></TD><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-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">2,695,549</FONT></TD><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-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-</FONT></TD><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-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">188,620,527</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; 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">Financial liabilities
    at fair value through profit or loss</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">37,961</FONT></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">37,961</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">Deferred tax liabilities</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">2,299,303</FONT></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">29,886</FONT></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">2,329,189</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">Total
    Liabilities</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">57,840,897</FONT></TD><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-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">29,886</FONT></TD><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-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">37,961</FONT></TD><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-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">57,908,744</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; 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">Redeemable
    noncontrolling interests</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <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-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">115,759</FONT></TD><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-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <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-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-</FONT></TD><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; color: red; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(115,759</FONT></TD><TD STYLE="font-size: 10pt; color: red; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <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-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; 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">Total
    equity</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">127,968,322</FONT></TD><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-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">2,665,663</FONT></TD><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-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">77,798</FONT></TD><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-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">130,711,783</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; 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="text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Total
    liabilities, redeemable noncontrolling interests&#8239;and shareholders&rsquo; equity</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">185,924,978</FONT></TD><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-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">2,695,549</FONT></TD><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-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-</FONT></TD><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-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">188,620,527</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></P>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"><TR STYLE="vertical-align: bottom"><TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; 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">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; white-space: nowrap; font-size: 10pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt">As
    of June 30, 2024 IFRSs adjustments</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; 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">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; 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">Amounts
    as<BR>
    reported under U.S.</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; 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">Investments
    measured at fair<BR>
    value</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; 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">Redeemable<BR>
    noncontrolling interests</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; 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"><B>Amounts
    as<BR>
    reported under</B></FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; white-space: nowrap; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 8pt; color: Black"><B>GAAP</B></FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt; font-style: italic"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; white-space: nowrap; font-size: 10pt; font-style: italic; text-align: center"><FONT STYLE="font-size: 8pt; color: Black">(Note
    (a))</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt; font-style: italic"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; white-space: nowrap; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 8pt; color: Black"><I>(Note
    (b))</I></FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="white-space: nowrap; text-align: center; font-size: 10pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; white-space: nowrap; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 8pt; color: Black"><B>IFRSs</B></FONT></TD><TD STYLE="white-space: nowrap; text-align: center; 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: 48%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Other long-term
    assets</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: 10%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">27,627,257</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; color: red"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="width: 10%; font-size: 10pt; color: red; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(14,942,321</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; color: red; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">)</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: 10%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-</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: 10%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">12,684,936</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; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Financial assets at
    fair value through profit or loss</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">17,529,322</FONT></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">17,529,322</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">Total
    Assets</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">183,342,621</FONT></TD><TD STYLE="padding-bottom: 1pt; 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-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">2,587,001</FONT></TD><TD STYLE="padding-bottom: 1pt; 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-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-</FONT></TD><TD STYLE="padding-bottom: 1pt; 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-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">185,929,622</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; 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">Financial liabilities
    at fair value through profit or loss</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">38,532</FONT></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">38,532</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">Deferred tax liabilities</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">1,448,781</FONT></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">22,759</FONT></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">1,471,540</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">Total
    Liabilities</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">48,997,216</FONT></TD><TD STYLE="padding-bottom: 1pt; 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-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">22,759</FONT></TD><TD STYLE="padding-bottom: 1pt; 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-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">38,532</FONT></TD><TD STYLE="padding-bottom: 1pt; 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-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">49,058,507</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; 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">Redeemable
    noncontrolling interests</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <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-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">119,498</FONT></TD><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-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <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-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-</FONT></TD><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; color: red; font-weight: bold"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; color: red; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; color: red; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">(119,498</FONT></TD><TD STYLE="font-size: 10pt; color: red; font-weight: bold; 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">-</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">Total
    equity</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">134,225,907</FONT></TD><TD STYLE="padding-bottom: 1pt; 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-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">2,564,242</FONT></TD><TD STYLE="padding-bottom: 1pt; 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-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">80,966</FONT></TD><TD STYLE="padding-bottom: 1pt; 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-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">136,871,115</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; 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="text-indent: -0.125in; padding-left: 0.125in; font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">Total
    liabilities, redeemable noncontrolling interests&#8239;and shareholders' equity</FONT></TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">183,342,621</FONT></TD><TD STYLE="padding-bottom: 1pt; 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-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">2,587,001</FONT></TD><TD STYLE="padding-bottom: 1pt; 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-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">-</FONT></TD><TD STYLE="padding-bottom: 1pt; 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-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt; color: Black">185,929,622</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt; color: Black">&nbsp;</FONT></TD></TR>
  </TABLE>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: Black">Notes:</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">Basis of Preparation</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company is responsible for preparation of
the Reconciliation Statement in accordance with the relevant requirements of the Hong Kong Listing Rules&nbsp;and relevant guidance in
HKEX-GL111-22. The Reconciliation Statement was prepared based on the Company&rsquo;s unaudited condensed consolidated financial information
for the six months ended June&nbsp;30, 2024 prepared under U.S. GAAP, with material adjustments made (if any) thereto in arriving at the
unaudited financial information of the Company prepared under IFRSs. The adjustments reflect the material differences between the Company&rsquo;s
accounting policies under U.S. GAAP and IFRSs.</P>

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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