<SEC-DOCUMENT>0001564590-18-006450.txt : 20180321
<SEC-HEADER>0001564590-18-006450.hdr.sgml : 20180321
<ACCEPTANCE-DATETIME>20180321160523
ACCESSION NUMBER:		0001564590-18-006450
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20180321
FILED AS OF DATE:		20180321
DATE AS OF CHANGE:		20180321

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PPDAI Group Inc.
		CENTRAL INDEX KEY:			0001691445
		STANDARD INDUSTRIAL CLASSIFICATION:	LOAN BROKERS [6163]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38269
		FILM NUMBER:		18704500

	BUSINESS ADDRESS:	
		STREET 1:		BUILDING 1, NO. 356 GUOSHOUJING ROAD
		STREET 2:		PUDONG NEW DISTRICT
		CITY:			SHANGHAI
		STATE:			F4
		ZIP:			201203
		BUSINESS PHONE:		86 21 3118 6888

	MAIL ADDRESS:	
		STREET 1:		BUILDING 1, NO. 356 GUOSHOUJING ROAD
		STREET 2:		PUDONG NEW DISTRICT
		CITY:			SHANGHAI
		STATE:			F4
		ZIP:			201203
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>ppdf-6k_20180321.htm
<DESCRIPTION>6-K
<TEXT>
<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd">
<html>
<head>
<title>
ppdf-6k_20180321.htm
</title>
</head>
<!-- NG Converter v4.0.8.21 -->
<body>

<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><a name="OLE_LINK3"></a><a name="OLE_LINK4"></a>UNITED STATES</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">SECURITIES AND EXCHANGE COMMISSION</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">WASHINGTON, D.C. 20549</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:16pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">FORM 6-K</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">REPORT OF FOREIGN PRIVATE ISSUER</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">PURSUANT TO RULE 13a-16 OR 15d-16 UNDER</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">THE SECURITIES EXCHANGE ACT OF 1934</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">For the month of March 2018</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">--------------</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Commission File Number: 001-38269</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">----------</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:16pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">PPDAI Group Inc.</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Building G1, No. 999 Dangui Road </p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Pudong New District, Shanghai 201203 </p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The People&#8217;s Republic of China </p>
<p style="text-align:center;margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> (Address of principal executive offices)</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Form 20-F&nbsp;&nbsp;&nbsp;&nbsp; ___<font style="text-decoration:underline;">X</font>____&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Form 40-F&nbsp;&nbsp;&nbsp;&nbsp; _________</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):________________</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):________________</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-variant: small-caps;font-weight:normal;font-style:normal;text-transform:none;"><br /></p>
<hr style="page-break-after:always;width:100%;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU2"></a><font style="text-decoration:underline;">Exhibit Index</font></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a href="ppdf-ex991_7.htm"><font style="text-decoration:underline;">Exhibit 99.1&#8212;Press Release</font> </a></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a href="ppdf-ex992_6.htm"><font style="text-decoration:underline;">Exhibit 99.2&#8212;Press Release</font> </a></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Calibri;font-size:11pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><br /></p>
<hr style="page-break-after:always;width:100%;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU3"></a><font style="font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">SIGNATURES</font></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.69%;">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="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:46.15%;text-indent:0%;font-family:Times New Roman;font-weight:bold;;font-size:12pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:55.77%;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">PPDAI Group Inc.</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse;  margin-left:56.92%;width:41.71%;">
<tr>
<td style="width:9.4%;"></td>
<td style="width:32.31%;"></td>
</tr>
<tr>
<td valign="top" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">By&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p></td>
<td valign="top" >
<p style="margin-bottom:0pt;border-bottom:Solid 0.75pt;padding-bottom:1pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">/s/ Simon Tak Leung Ho&nbsp;&nbsp;&nbsp;&nbsp;</p></td>
</tr>
<tr>
<td valign="top" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Name:</p></td>
<td valign="top" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Simon Tak Leung Ho</p></td>
</tr>
<tr>
<td valign="top" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Title:</p></td>
<td valign="top" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Chief Financial Officer</p></td>
</tr>
</table></div>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Date: March&nbsp;&nbsp;21, 2018</p></body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ppdf-ex991_7.htm
<DESCRIPTION>EX-99.1
<TEXT>
<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd">
<html>
<head>
<title>
ppdf-ex991_7.htm
</title>
</head>
<!-- NG Converter v4.0.8.21 -->
<body>

<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">Exhibit 99.1</p>
<p style="text-align:center;margin-bottom:5pt;margin-top:5pt;Background-color:#FFFFFF;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">PPDAI Group Inc. Reports Fourth Quarter and Fiscal Year 2017 Unaudited Financial Results</p>
<p style="text-align:justify;margin-bottom:5pt;margin-top:5pt;Background-color:#FFFFFF;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">SHANGHAI, Mar. 21, 2018 /PRNewswire/ &#8211; PPDAI Group Inc. (&#8220;PPDAI,&#8221; &#8220;Paipaidai,&#8221; or the &#8220;Company&#8221;) (NYSE: PPDF), a leading online consumer finance marketplace in China, today announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2017.</p>
<p style="text-align:justify;margin-bottom:5pt;margin-top:5pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse;  margin-left:0.77%;width:469pt;;">
<tr>
<td style="width:202.8pt;"></td>
<td style="width:73.75pt;"></td>
<td style="width:78.45pt;"></td>
<td style="width:114pt;"></td>
</tr>
<tr style="height:15pt;">
<td valign="bottom"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt transparent;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-weight:bold;;">&nbsp;</p></td>
<td colspan="3" valign="bottom"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;">
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:58.5pt;;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">As of</p></td>
</tr>
<tr>
<td valign="bottom"  style=" border-bottom:solid 0.75pt #000000;">
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:137.05pt;;text-indent:-137.05pt;;font-family:Times New Roman;font-weight:bold;;font-size:10.5pt;">&nbsp;</p></td>
<td valign="bottom"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;">
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:5.25pt;;text-indent:-5.25pt;;font-weight:bold;font-size:10.5pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">December 31, 2016</p></td>
<td valign="bottom"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;">
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:17.25pt;;text-indent:-5.25pt;;font-weight:bold;font-size:10.5pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">September 30, 2017</p></td>
<td valign="bottom"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;">
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:30pt;;text-indent:5.25pt;;font-weight:bold;font-size:10.5pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">December 31,</p>
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:30pt;;text-indent:10.5pt;;font-weight:bold;font-size:10.5pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;2017</p></td>
</tr>
<tr style="height:17pt;">
<td valign="bottom"  style=" border-top:solid 0.75pt #000000;">
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:157.5pt;;text-indent:-157.5pt;;font-size:10.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Cumulative registered users<sup style="font-size:85%; vertical-align:top">1</sup><sup style="font-size:85%; vertical-align:top"></sup><font style="font-size:17.5pt;"><sup style="font-size:85%; vertical-align:top"> </sup></font>(&#8217;000)<font style="font-size:17.5pt;"><sup style="font-size:85%; vertical-align:top">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</sup></font></p></td>
<td valign="bottom"  style=" border-top:solid 0.75pt #000000;">
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">32,610</p></td>
<td valign="bottom"  style=" border-top:solid 0.75pt #000000;">
<p style="text-align:center;margin-top:10pt;Background-color:#FFFFFF;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">57,581</p></td>
<td valign="bottom"  style=" border-top:solid 0.75pt #000000;">
<p style="text-align:center;margin-top:10pt;Background-color:#FFFFFF;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">65,409</p></td>
</tr>
<tr style="height:18pt;">
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:157.5pt;;text-indent:-157.5pt;;font-size:10.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Cumulative number of borrowers<sup style="font-size:85%; vertical-align:top">2</sup><sup style="font-size:85%; vertical-align:top"></sup><font style="font-size:17.5pt;"><sup style="font-size:85%; vertical-align:top"> </sup></font>(&#8217;000)<font style="font-size:17.5pt;"><sup style="font-size:85%; vertical-align:top">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </sup></font></p></td>
<td valign="bottom" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3,758</p></td>
<td valign="bottom" >
<p style="text-align:center;margin-top:10pt;Background-color:#FFFFFF;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">9,031</p></td>
<td valign="bottom" >
<p style="text-align:center;margin-top:10pt;Background-color:#FFFFFF;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">10,518</p></td>
</tr>
<tr style="height:17pt;">
<td valign="bottom"  style=" border-bottom:solid 0.75pt #000000;">
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:10.5pt;;text-indent:-10.5pt;;font-size:10.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Cumulative number of individual investors<sup style="font-size:85%; vertical-align:top">3</sup><sup style="font-size:85%; vertical-align:top"></sup></p></td>
<td valign="bottom"  style=" border-bottom:solid 0.75pt #000000;">
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">357,131</p></td>
<td valign="bottom"  style=" border-bottom:solid 0.75pt #000000;">
<p style="text-align:center;margin-top:10pt;Background-color:#FFFFFF;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">521,831</p></td>
<td valign="bottom"  style=" border-bottom:solid 0.75pt #000000;">
<p style="text-align:center;margin-top:10pt;Background-color:#FFFFFF;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">559,760</p></td>
</tr>
</table></div>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-weight:bold;;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse;  margin-left:0.93%;width:469pt;;">
<tr>
<td style="width:157.9pt;"></td>
<td style="width:50.75pt;"></td>
<td style="width:50.85pt;"></td>
<td style="width:50.75pt;"></td>
<td style="width:57.1pt;"></td>
<td style="width:57.25pt;"></td>
<td style="width:44.4pt;"></td>
</tr>
<tr style="height:20pt;">
<td valign="top"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt transparent;">
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;">&nbsp;</p></td>
<td colspan="3" valign="bottom"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;">
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10.5pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">For Three Months Ended</p></td>
<td colspan="3" valign="bottom"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;">
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10.5pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">For Twelve Months Ended</p></td>
</tr>
<tr>
<td valign="bottom"  style=" border-bottom:solid 0.75pt transparent;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-weight:bold;;">&nbsp;</p></td>
<td valign="bottom"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;">
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10.5pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">December 31, 2016</p></td>
<td valign="bottom"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;">
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10.5pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">December 31, 2017</p></td>
<td valign="bottom"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;">
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10.5pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">YoY Change</p></td>
<td valign="bottom"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;">
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10.5pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">December 31, 2016</p></td>
<td valign="bottom"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;">
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10.5pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">December 31, 2017</p></td>
<td valign="bottom"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;">
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10.5pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">YoY Change</p></td>
</tr>
<tr style="height:29pt;">
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Number of unique borrowers<sup style="font-size:85%; vertical-align:top">4</sup><sup style="font-size:85%; vertical-align:top"></sup><font style="font-size:17.5pt;"><sup style="font-size:85%; vertical-align:top"> </sup></font>(&#8217;000)</p></td>
<td valign="bottom"  style=" border-top:solid 0.75pt #000000;">
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1,847</p></td>
<td valign="bottom"  style=" border-top:solid 0.75pt #000000;">
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:6pt;;text-indent:5.25pt;;font-size:10.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4,017 </p></td>
<td valign="bottom"  style=" border-top:solid 0.75pt #000000;">
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">117.5%</p></td>
<td valign="bottom"  style=" border-top:solid 0.75pt #000000;">
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3,376</p></td>
<td valign="bottom"  style=" border-top:solid 0.75pt #000000;">
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">8,730</p></td>
<td valign="bottom"  style=" border-top:solid 0.75pt #000000;">
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">158.6%</p></td>
</tr>
<tr style="height:31pt;">
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Loan origination volume<sup style="font-size:85%; vertical-align:top">5</sup><sup style="font-size:85%; vertical-align:top"></sup><font style="font-size:17.5pt;"><sup style="font-size:85%; vertical-align:top"> </sup></font></p>
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(RMB, million)</p></td>
<td valign="bottom" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">7,517</p></td>
<td valign="bottom" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">17,567</p></td>
<td valign="bottom" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">133.7%</p></td>
<td valign="bottom" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">19,878</p></td>
<td valign="bottom" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">65,568</p></td>
<td valign="bottom" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">229.9%</p></td>
</tr>
<tr style="height:18pt;">
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Repeat borrowing rate<sup style="font-size:85%; vertical-align:top">6</sup><sup style="font-size:85%; vertical-align:top"></sup><font style="font-size:17.5pt;"><sup style="font-size:85%; vertical-align:top"> </sup></font>(%)</p></td>
<td valign="bottom" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">60.7%</p></td>
<td valign="bottom" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">72.8%</p></td>
<td valign="bottom" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">19.9%</p></td>
<td valign="bottom" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">55.6%</p></td>
<td valign="bottom" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">68.9%</p></td>
<td valign="bottom" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">23.9%</p></td>
</tr>
<tr style="height:18pt;">
<td valign="bottom"  style=" border-bottom:solid 0.75pt #000000;">
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Average loan size<sup style="font-size:85%; vertical-align:top">7</sup><sup style="font-size:85%; vertical-align:top"></sup> (RMB)</p></td>
<td valign="bottom"  style=" border-bottom:solid 0.75pt #000000;">
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2,630</p></td>
<td valign="bottom"  style=" border-bottom:solid 0.75pt #000000;">
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2,590</p></td>
<td valign="bottom"  style=" border-bottom:solid 0.75pt #000000;">
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(1.5%)</p></td>
<td valign="bottom"  style=" border-bottom:solid 0.75pt #000000;">
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2,795</p></td>
<td valign="bottom"  style=" border-bottom:solid 0.75pt #000000;">
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2,470</p></td>
<td valign="bottom"  style=" border-bottom:solid 0.75pt #000000;">
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10.5pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(11.6%)</p></td>
</tr>
</table></div>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-weight:bold;;">&nbsp;</p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">Fourth Quarter 2017 Financial and Operational Highlights</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:5.38%;white-space:nowrap">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Noto Sans Symbols;font-size:12pt;">&nbsp;</p></td>
<td valign="top" style="width:2.69%;white-space:nowrap">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-family:Noto Sans Symbols;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-family:Noto Sans Symbols;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#9679;</font></p></td>
<td valign="top">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Noto Sans Symbols;font-size:12pt;"><a name="_AEIOULastRenderedPageBreakAEIOU2"></a><font style="font-family:Times New Roman;">Operating revenues for the fourth quarter of 2017 increased by 85.3% to RMB912.1 million (US$140.2 million), from RMB492.3 million in the same period of 2016. Excluding a one-time provision for expected discretionary payments to investors in investment </font></p></td></tr></table></div>
<div align="left"><table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:20%;"><tr><td style="width:20%;"></td></tr><tr><td valign="top"  style="border-bottom:Solid 1pt #000000;"><p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;text-indent:0pt;font-size:8pt;">&nbsp;</p></td></tr></table></div>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:0%;white-space:nowrap">
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-family:Cambria;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-family:Cambria;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><sup style="font-size:85%; vertical-align:top">1</sup>&nbsp;</font>&nbsp;</font></p></td>
<td valign="top" style="width:100%;">
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:8pt;"> On a cumulative basis, number of users registered on PPDAI platform as of December 31, 2017.</p></td></tr></table></div>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:0%;white-space:nowrap">
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-family:Cambria;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-family:Cambria;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><sup style="font-size:85%; vertical-align:top">2</sup>&nbsp;</font>&nbsp;</font></p></td>
<td valign="top" style="width:100%;">
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:8pt;"> On a cumulative basis, number of borrowers whose loans were funded on or prior to December 31, 2017.</p></td></tr></table></div>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:0%;white-space:nowrap">
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-family:Cambria;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-family:Cambria;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><sup style="font-size:85%; vertical-align:top">3</sup>&nbsp;</font>&nbsp;</font></p></td>
<td valign="top" style="width:100%;">
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:8pt;"> On a cumulative basis, number of individual investors who have made at least one investment in loans on or prior to December 31, 2017.</p></td></tr></table></div>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:0%;white-space:nowrap">
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-family:Cambria;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-family:Cambria;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><sup style="font-size:85%; vertical-align:top">4</sup>&nbsp;</font>&nbsp;</font></p></td>
<td valign="top" style="width:100%;">
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:8pt;"> Represents the total number of borrowers whose loans on PPDAI platform were funded during the period presented.</p></td></tr></table></div>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:0%;white-space:nowrap">
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-family:Cambria;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-family:Cambria;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><sup style="font-size:85%; vertical-align:top">5</sup>&nbsp;</font>&nbsp;</font></p></td>
<td valign="top" style="width:100%;">
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:8pt;"> Represents the loan origination volume generated during the period presented.</p></td></tr></table></div>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:0%;white-space:nowrap">
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-family:Cambria;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-family:Cambria;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><sup style="font-size:85%; vertical-align:top">6</sup>&nbsp;</font>&nbsp;</font></p></td>
<td valign="top" style="width:100%;">
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:8pt;"> Represents percentage of loan volume generated by repeat borrowers who have successfully borrowed on PPDAI platform before.</p></td></tr></table></div>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:0%;white-space:nowrap">
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-family:Cambria;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-family:Cambria;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><sup style="font-size:85%; vertical-align:top">7</sup>&nbsp;</font>&nbsp;</font></p></td>
<td valign="top" style="width:100%;">
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:8pt;"> Represents the average loan size on PPDAI platform during the period presented.</p></td></tr></table></div>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:5.38%;white-space:nowrap">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Noto Sans Symbols;font-size:12pt;">&nbsp;</p></td>
<td valign="top" style="width:2.69%;white-space:nowrap"></td>
<td valign="top">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Noto Sans Symbols;font-size:12pt;"><font style="font-family:Times New Roman;">programs protected by the Company&#8217;s investor reserve funds, from operating revenue, Non-GAAP adjusted operating revenues for this quarter were RMB1,019.8 million (US$156.7 million), representing a year-over-year increase of 107.2%. </font></p></td></tr></table></div>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:5.38%;white-space:nowrap">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Noto Sans Symbols;font-size:12pt;">&nbsp;</p></td>
<td valign="top" style="width:2.69%;white-space:nowrap">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-family:Noto Sans Symbols;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-family:Noto Sans Symbols;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#9679;</font></p></td>
<td valign="top">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Noto Sans Symbols;font-size:12pt;"><font style="font-family:Times New Roman;">Loan facilitation service fees increased by 98.2% to RMB620.2 million (US$95.3 million) in the fourth quarter of 2017, from RMB312.9 million in the same period of 2016. </font></p></td></tr></table></div>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:5.38%;white-space:nowrap">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Noto Sans Symbols;font-size:12pt;">&nbsp;</p></td>
<td valign="top" style="width:2.69%;white-space:nowrap">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-family:Noto Sans Symbols;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-family:Noto Sans Symbols;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#9679;</font></p></td>
<td valign="top">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Noto Sans Symbols;font-size:12pt;"><font style="font-family:Times New Roman;">Post-facilitation service fees further increased by 180.9% to RMB 227.2 million (US$34.9 million) in the fourth quarter of 2017, from RMB80.9 million in the same period of 2016.</font></p></td></tr></table></div>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:5.38%;white-space:nowrap">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Noto Sans Symbols;font-size:12pt;">&nbsp;</p></td>
<td valign="top" style="width:2.69%;white-space:nowrap">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-family:Noto Sans Symbols;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-family:Noto Sans Symbols;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#9679;</font></p></td>
<td valign="top">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Noto Sans Symbols;font-size:12pt;"><font style="font-family:Times New Roman;">Non-GAAP adjusted operating income, which excludes other income/ (expenses), share-based compensation expenses and</font><font style="color:#1F497D;font-family:Times New Roman;"> </font><font style="font-family:Times New Roman;">a one-time provision for expected discretionary payments to investors in investment programs protected by the Company&#8217;s investor reserve funds from profit/(loss) before tax, increased by 100.7% to RMB327.4 million (US$50.3 million) for the fourth quarter of 2017, from RMB163.1 million in the same period of 2016.</font></p></td></tr></table></div>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:5.38%;white-space:nowrap">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Noto Sans Symbols;font-size:12pt;">&nbsp;</p></td>
<td valign="top" style="width:2.69%;white-space:nowrap">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-family:Noto Sans Symbols;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-family:Noto Sans Symbols;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#9679;</font></p></td>
<td valign="top">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Noto Sans Symbols;font-size:12pt;"><font style="font-family:Times New Roman;">Cumulative registered users</font><font style="font-size:13pt;font-family:Times New Roman;"><sup style="font-size:85%; vertical-align:top">1</sup></font><font style="font-family:Times New Roman;"> reached 65.4 million as of December 31, 2017.</font></p></td></tr></table></div>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:5.38%;white-space:nowrap">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Noto Sans Symbols;font-size:12pt;">&nbsp;</p></td>
<td valign="top" style="width:2.69%;white-space:nowrap">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-family:Noto Sans Symbols;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-family:Noto Sans Symbols;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#9679;</font></p></td>
<td valign="top">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Noto Sans Symbols;font-size:12pt;"><font style="font-family:Times New Roman;">Cumulative number of</font><font style="font-size:13pt;font-family:Times New Roman;"><sup style="font-size:85%; vertical-align:top"> </sup></font><font style="font-family:Times New Roman;">borrowers</font><font style="font-size:13pt;font-family:Times New Roman;"><sup style="font-size:85%; vertical-align:top">2</sup></font><font style="font-family:Times New Roman;"> reached 10.5 million as of December 31, 2017.</font></p></td></tr></table></div>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:5.38%;white-space:nowrap">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Noto Sans Symbols;font-size:12pt;">&nbsp;</p></td>
<td valign="top" style="width:2.69%;white-space:nowrap">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-family:Noto Sans Symbols;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-family:Noto Sans Symbols;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#9679;</font></p></td>
<td valign="top">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Noto Sans Symbols;font-size:12pt;"><font style="font-family:Times New Roman;">Cumulative number of individual investors</font><font style="font-size:13pt;font-family:Times New Roman;"><sup style="font-size:85%; vertical-align:top">3</sup></font><font style="font-family:Times New Roman;"> reached 559,760 as of December 31, 2017.</font></p></td></tr></table></div>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:5.38%;white-space:nowrap">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Noto Sans Symbols;font-size:12pt;">&nbsp;</p></td>
<td valign="top" style="width:2.69%;white-space:nowrap">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-family:Noto Sans Symbols;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-family:Noto Sans Symbols;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#9679;</font></p></td>
<td valign="top">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Noto Sans Symbols;font-size:12pt;"><font style="font-family:Times New Roman;">Number of unique borrowers</font><font style="font-size:13pt;font-family:Times New Roman;"><sup style="font-size:85%; vertical-align:top">4</sup></font><font style="font-family:Times New Roman;"> was 4.0 million for the fourth quarter of 2017, an increase of 117.5% from the same period of 2016. </font></p></td></tr></table></div>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:5.38%;white-space:nowrap">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Noto Sans Symbols;font-size:12pt;">&nbsp;</p></td>
<td valign="top" style="width:2.69%;white-space:nowrap">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-family:Noto Sans Symbols;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-family:Noto Sans Symbols;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#9679;</font></p></td>
<td valign="top">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Noto Sans Symbols;font-size:12pt;"><font style="font-family:Times New Roman;">Loan origination volume</font><font style="font-size:13pt;font-family:Times New Roman;"><sup style="font-size:85%; vertical-align:top">5</sup></font><font style="font-family:Times New Roman;"> was RMB17.6 billion for the fourth quarter of 2017, an increase o</font><font style="font-family:SimSun;">f</font><font style="font-family:Times New Roman;"> 133.7% from the same period of 2016.</font></p></td></tr></table></div>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:5.38%;white-space:nowrap">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Noto Sans Symbols;font-size:12pt;">&nbsp;</p></td>
<td valign="top" style="width:2.69%;white-space:nowrap">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-family:Noto Sans Symbols;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-family:Noto Sans Symbols;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#9679;</font></p></td>
<td valign="top">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Noto Sans Symbols;font-size:12pt;"><font style="font-family:Times New Roman;">Average loan tenure<sup style="font-size:85%; vertical-align:top">8</sup></font><font style="font-size:13pt;font-family:Times New Roman;"><sup style="font-size:85%; vertical-align:top"></sup></font><font style="font-family:Times New Roman;"> was 6.7 months for the fourth quarter of 2017.</font></p></td></tr></table></div>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">Fiscal Year 2017 Financial and Operational Highlights:</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:5.38%;white-space:nowrap">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Noto Sans Symbols;font-size:12pt;">&nbsp;</p></td>
<td valign="top" style="width:2.69%;white-space:nowrap">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-family:Noto Sans Symbols;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-family:Noto Sans Symbols;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#9679;</font></p></td>
<td valign="top">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Noto Sans Symbols;font-size:12pt;"><font style="font-family:Times New Roman;">Operating revenues for the fiscal year 2017 increased by 222.3% to</font><font style="color:#FF0000;font-family:Times New Roman;"> </font><font style="font-family:Times New Roman;">RMB 3,895.8 million (US$598.8 million), from</font><font style="color:#FF0000;font-family:Times New Roman;"> </font><font style="font-family:Times New Roman;">RMB1,208.7 million in 2016. Excluding a one-time provision for expected discretionary payments to investors in investment programs protected by the Company&#8217;s investor reserve funds, from operating revenues, Non-GAAP adjusted operating revenues for the fiscal year 2017 were RMB4,003.5 million (US$615.3 million), representing a year-over-year increase of 231.2%.</font></p></td></tr></table></div>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:5.38%;white-space:nowrap">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Noto Sans Symbols;font-size:12pt;">&nbsp;</p></td>
<td valign="top" style="width:2.69%;white-space:nowrap">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-family:Noto Sans Symbols;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-family:Noto Sans Symbols;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#9679;</font></p></td>
<td valign="top">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Noto Sans Symbols;font-size:12pt;"><font style="font-family:Times New Roman;">Loan facilitation service fees increased by 212.0% to RMB2,843.3 million (US$437.0million) in the fiscal year 2017, from RMB911.4 million in 2016.</font></p></td></tr></table></div>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:5.38%;white-space:nowrap">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Noto Sans Symbols;font-size:12pt;">&nbsp;</p></td>
<td valign="top" style="width:2.69%;white-space:nowrap">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-family:Noto Sans Symbols;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-family:Noto Sans Symbols;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#9679;</font></p></td>
<td valign="top">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Noto Sans Symbols;font-size:12pt;"><font style="font-family:Times New Roman;">Post-facilitation service fees increased by 427.4% to RMB668.8 million (US$102.8 million) in the fiscal year 2017, from RMB126.8 million in 2016.</font></p></td></tr></table></div>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:5.38%;white-space:nowrap">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Noto Sans Symbols;font-size:12pt;">&nbsp;</p></td>
<td valign="top" style="width:2.69%;white-space:nowrap">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-family:Noto Sans Symbols;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-family:Noto Sans Symbols;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#9679;</font></p></td>
<td valign="top">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Noto Sans Symbols;font-size:12pt;"><a name="_AEIOULastRenderedPageBreakAEIOU3"></a><font style="font-family:Times New Roman;">Non-GAAP adjusted operating income, which excludes other income/ (expenses), share-based compensation expenses and a</font><font style="color:#1F497D;font-family:Times New Roman;"> </font><font style="font-family:Times New Roman;">one-time provision for the expected discretionary payments to investors in investment programs protected by the Company&#8217;s investor </font></p></td></tr></table></div>
<div align="left"><table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:20%;"><tr><td style="width:20%;"></td></tr><tr><td valign="top"  style="border-bottom:Solid 1pt #000000;"><p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;text-indent:0pt;font-size:8pt;">&nbsp;</p></td></tr></table></div>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:0%;white-space:nowrap">
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-family:Cambria;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-family:Cambria;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><sup style="font-size:85%; vertical-align:top">8</sup>&nbsp;</font>&nbsp;</font></p></td>
<td valign="top" style="width:100%;">
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:8pt;"> Represents the average loan tenure period on PPDAI platform during the period presented.</p></td></tr></table></div>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:5.38%;white-space:nowrap">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Noto Sans Symbols;font-size:12pt;">&nbsp;</p></td>
<td valign="top" style="width:2.69%;white-space:nowrap"></td>
<td valign="top">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Noto Sans Symbols;font-size:12pt;"><font style="font-family:Times New Roman;">reserve funds in the fourth quarter from profit/(loss) before tax, increased by 635.9% to RMB1,743.0 million (US$267.9 million) for the fiscal year 2017, from RMB236.8 million in 2016.</font></p></td></tr></table></div>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:5.38%;white-space:nowrap">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Noto Sans Symbols;font-size:12pt;">&nbsp;</p></td>
<td valign="top" style="width:2.69%;white-space:nowrap">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-family:Noto Sans Symbols;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-family:Noto Sans Symbols;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#9679;</font></p></td>
<td valign="top">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Noto Sans Symbols;font-size:12pt;"><font style="font-family:Times New Roman;">Net profit increased by 115.9% to RMB1,082.9 million (US$166.4 million) in the fiscal year 2017, from RMB501.5 million in 2016. </font></p></td></tr></table></div>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:5.38%;white-space:nowrap">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Noto Sans Symbols;font-size:12pt;">&nbsp;</p></td>
<td valign="top" style="width:2.69%;white-space:nowrap">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-family:Noto Sans Symbols;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-family:Noto Sans Symbols;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#9679;</font></p></td>
<td valign="top">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Noto Sans Symbols;font-size:12pt;"><font style="font-family:Times New Roman;">Number of unique borrowers</font><font style="font-size:13pt;font-family:Times New Roman;"><sup style="font-size:85%; vertical-align:top">4</sup></font><font style="font-family:Times New Roman;"> was 8.7 million for the fiscal year 2017, an increase of 158.6% from 2016. </font></p></td></tr></table></div>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:5.38%;white-space:nowrap">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Noto Sans Symbols;font-size:12pt;">&nbsp;</p></td>
<td valign="top" style="width:2.69%;white-space:nowrap">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-family:Noto Sans Symbols;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-family:Noto Sans Symbols;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#9679;</font></p></td>
<td valign="top">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Noto Sans Symbols;font-size:12pt;"><font style="font-family:Times New Roman;">Loan origination volume</font><font style="font-size:13pt;font-family:Times New Roman;"><sup style="font-size:85%; vertical-align:top">5</sup></font><font style="font-family:Times New Roman;"> was RMB65.6 billion for the fiscal year 2017, an increase o</font><font style="font-family:SimSun;">f</font><font style="font-family:Times New Roman;"> 229.9% from 2016.</font></p></td></tr></table></div>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0"  style="border-collapse:collapse; width:100%;">
<tr>
<td valign="top" style="width:5.38%;white-space:nowrap">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Noto Sans Symbols;font-size:12pt;">&nbsp;</p></td>
<td valign="top" style="width:2.69%;white-space:nowrap">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-family:Noto Sans Symbols;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-family:Noto Sans Symbols;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#9679;</font></p></td>
<td valign="top">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Noto Sans Symbols;font-size:12pt;"><font style="font-family:Times New Roman;">Average loan tenure</font><font style="font-size:13pt;font-family:Times New Roman;"><sup style="font-size:85%; vertical-align:top">8</sup></font><font style="font-family:Times New Roman;"> was 7.5 months for the fiscal year 2017.</font></p></td></tr></table></div>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:2.69%;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Mr. Jun Zhang, Chairman and Chief Executive Officer of PPDAI, commented, &#8220;2017 marks the tenth anniversary since our inception and a significant milestone in our journey. We are pleased to continue to deliver significant growth in the Company&#8217;s financial and operational results for the fourth quarter and full year 2017, highlighted by our full year loan origination volume of RMB65.6 billion, a strong 229.9% increase from RMB19.9 billion in 2016. The sustained dynamic growth was mainly attributable to the increase of our customer base. As of December 31, 2017, we had 65.4 million cumulative registered users and our cumulative borrowers had reached 10.5 million. In addition, our cumulative investors reached 559,760 in the fourth quarter of 2017, a 56.7% growth from the same quarter last year.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8220;With new regulations for the consumer lending space gradually unveiled and enforced, we have made some adjustments to our operations that have a minor impact on our core business model. We are confident we will satisfy any further requirements and that PPDAI is on track to complete the regulatory registration process. We firmly believe that the strengthened consumer lending regulatory framework is a big step forward and will support a healthy and sustainable industry environment. As an industry leader with the longest operating history in the sector and strong proprietary technologies and core capabilities, we are well positioned for future growth.&#8221;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Mr. Simon Ho, Chief Financial Officer of PPDAI commented, &#8220;In the light of regulatory changes impacting our industry, we&#8217;re delighted to deliver strong operational results in the fourth quarter, which was reflected by an increase of 107.2% in Non-GAAP adjusted operating revenues excluding a one-time provision in our investor reserve funds from operating revenue<font style="color:#1F497D;"> </font>to RMB1,019.8 million from RMB492.3 million in the same period last year. This solid growth is evidence of the strong market demand for online consumer finance as well as the strength of our fast-growing user base. Despite our high growth trajectory on a year-over-year basis, we recorded soft sequential performance in the fourth quarter in terms of loan origination volume and loan facilitation fees.&nbsp;&nbsp;During the quarter we proactively managed our loan volume in light of increased delinquencies and elevated credit risk in the industry, and we ceased the collection of upfront transaction fees, which had a one-off impact on our results in December. However, with the new U.S. GAAP revenue recognition standard taking effect in 2018, we are confident the changes in the transaction fee model will not impact our ability to grow revenues in 2018 and beyond.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8220;In addition, due to the sudden increase in credit risk across the market in the fourth quarter, we revised up our expected default rate assumptions, which resulted in charges for our risk reserve funds. These charges were mostly one-time and largely non-cash for the fourth quarter.&nbsp;&nbsp;Now that the current credit cycle has peaked, and we&#8217;ve reversed out all of our previously recognized gains, we believe most of these losses are behind us,&#8221; added Mr. Ho.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU4"></a>Mr. Zhang concluded, &#8220;Continuous technology innovation and a focus on superior user experience remain the cornerstones of our model. Looking ahead in 2018 and beyond, we will remain focused on technology innovation through multiple initiatives. For example, by exploring artificial intelligence, big data analytics, cloud computing and blockchain technology, we strive to enhance the accuracy, efficiency and </p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">effectiveness of our platform. As a pioneer and industry leader, PPDAI will continue to fulfill its mission to utilize the most innovative technologies to deliver highly accessible and convenient financial solutions while achieving our long-term business goals for the benefits of all stakeholders.&#8221;</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">Fourth Quarter 2017 Financial Results</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-weight:bold;;">&nbsp;</p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">Operating revenues<font style="font-weight:normal;"> for the fourth quarter of 2017 increased by 85.3% to RMB 912.1 million (US$140.2 million) from RMB492.3 million in the same period of 2016, primarily due to the increase in loan facilitation service fees, post-facilitation service fees and other revenues as a result of the substantial increase in loan origination volume, offset by a one-time provision of RMB107.7 million for the expected discretionary payments to investors in investment programs protected by the investor reserve funds due to the increase in delinquency rates.</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-weight:bold;;">&nbsp;</p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-style:italic;font-family:Times New Roman;font-size:12pt;font-weight:normal;text-transform:none;font-variant: normal;"><a name="_gjdgxs"></a>Loan facilitation service fees<font style="font-style:normal;"> increased by 98.2% to RMB620.2 million (US$95.3 million) for the fourth quarter of 2017 from RMB312.9 million in the same period of 2016, primarily due to the substantial increases both in loan origination volume and the number of unique borrowers on the Company&#8217;s platform. During the period, loan facilitation service fees were partially impacted by the discontinuation of collecting transaction fees upfront upon loan origination effective early December 2017. The average rate of transaction fees charged to borrowers was 6.24% in the period, compared to 6.35% in the third quarter of 2017 and 7.19% in the fourth quarter of 2016. </font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-style:italic;font-family:Times New Roman;font-size:12pt;font-weight:normal;text-transform:none;font-variant: normal;">Post-facilitation service fees<font style="font-style:normal;"> increased significantly by 180.9% to RMB227.2 million (US$34.9 million) for the fourth quarter of 2017 from RMB80.9 million in the same period of 2016, primarily due to the substantial increase in loan origination volume and the rolling impact of deferred transaction fees. </font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-style:italic;font-family:Times New Roman;font-size:12pt;font-weight:normal;text-transform:none;font-variant: normal;">Other revenue<font style="font-style:normal;"> increased by 74.9% to RMB172.4 million (US$26.5 million) for the fourth quarter of 2017 from RMB98.5 million in the same period of 2016, primarily attributable to an increase in collection fees. </font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-style:italic;font-family:Times New Roman;font-size:12pt;font-weight:normal;text-transform:none;font-variant: normal;">Net interest income/(expense) and loan provisions losses<font style="font-style:normal;"> for the fourth quarter of 2017 was an expense of RMB13.2 million (US$2.0 million), compared to an income of RMB3.6 million in the same period of 2016. This was primarily due to provisions for expected loan losses related to the Company&#8217;s investments in trusts that were newly set up during the period. </font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">Origination and servicing expenses<font style="font-weight:normal;"> increased by 153.9% to RMB296.3 million (US$45.5 million) for the fourth quarter of 2017 from RMB116.7 million in the same period of 2016, primarily due to the increase in headcount particularly for loan collection services, and to a lesser extent, due to an increase in referral fees paid to third parties for successful loan originations.</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">Sales and marketing expenses<font style="font-weight:normal;"> increased by 87.2% to RMB238.6 million (US$36.7 million) for the fourth quarter of 2017 from RMB127.4 million in the same period of 2016. The increase was primarily due to the increase in expenses associated with online customer acquisition, which mainly include expenses paid to internet marketing channels for online advertising and search engine marketing as well as to certain websites that enable PPDAI to reach quality borrowers, and branding.</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU5"></a>General and administrative expenses<font style="font-weight:normal;"> increased by 182.5% to RMB250.4 million (US$38.5million) for the fourth quarter of 2017 from RMB88.6 million in the same period of 2016, primarily due to the increase in staff costs and the recognition of share based compensation of</font><font style="color:#4F81BD;font-weight:normal;"> </font></p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-weight:normal;">RMB106.2 million</font><font style="color:#4F81BD;font-weight:normal;"> </font><font style="font-weight:normal;">in the quarter related to employee options granted historically with a performance target contingent upon IPO and cancellation of the share based compensation plan of a subsidiary company.</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">Operating income<font style="font-weight:normal;"> was RMB113.6 million (US$17.5 million) for the fourth quarter of 2017, compared with RMB163.1 million in the same period of 2016</font><font style="font-family:SimSun;font-weight:normal;">.</font><font style="font-weight:normal;"> </font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">Non-GAAP adjusted operating income<font style="font-weight:normal;">, which excludes other income/(expenses), share-based compensation and</font><font style="color:#1F497D;font-weight:normal;"> </font><font style="font-weight:normal;">a one-time provision for expected discretionary payments to investors in investment programs protected by the investor reserve funds from profit/(loss) before tax, was RMB327.4 million (US$50.3 million), representing an increase of 100.7% from RMB163.1 million in the same period of 2016</font><font style="font-family:SimSun;font-weight:normal;">.</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU6"></a>Other income<font style="font-weight:normal;"> recorded a loss of RMB 694.8 million (US$106.8 million) for the fourth quarter of 2017, compared with income of RMB124.7 million in the same period of 2016. Other income primarily consisted of a RMB27.1 million (US$4.2 million) realized gain from financial guarantee derivatives due to the amount of investment programs maturing during the period, offset by an expense of RMB271.9 million (US$41.8 million) related to the quality assurance fund and an expense of RMB460.4 million (US$70.8 million) from a fair value change of financial guarantee derivatives due to increased credit risks across the industry which led to upward adjustments to the Company&#8217;s expected default rate for loans protected by the quality assurance fund and underlying loans in investment programs protected by the investor reserve </font></p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-weight:normal;">funds. For the fourth quarter of 2017, RMB10.6 billion and RMB3.9 billion of loans facilitated on the Company&#8217;s platform were protected by the quality assurance fund and investor reserve funds, respectively.</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">Income tax credits <font style="font-weight:normal;">was RMB74.1 million (US$11.4 million) for the fourth quarter of 2017, compared with an expense of RMB21.8 million in the same period of 2016, primarily due to the loss from the quality assurance fund and negative fair value change of financial guarantee derivatives during the period. </font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">Net loss<font style="font-weight:normal;"> was RMB507.1 million (US$77.90 million) for the fourth quarter of 2017, compared with a profit of RMB266.0 million in the same period of 2016. </font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">Net loss attributable to ordinary shareholders of the Company<font style="font-weight:normal;"> was RMB1,303.9 million (US$200.4 million) for the fourth quarter of 2017, compared with net income attributable to ordinary shareholders of RMB17.9 million in the same period of 2016 due to the accretion losses on the Company&#8217;s Series A, B and C preferred shares.</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">As of December 31, 2017, the Company had cash and cash equivalents of RMB1,891.1 million (US$290.7 million) and short-term investments mainly in wealth management products of RMB1,958.9 million (US$301.1 million). </p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The total balance of the quality assurance fund, which includes restricted cash of RMB1,058.6 million (US$162.7 million) and the quality assurance fund receivable of RMB1,152.8 million (US$177.2 million), was equivalent to 17.9% of the total outstanding loans protected by the quality assurance fund. </p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The following table provides the delinquency rates for all outstanding loans on the Company&#8217;s platform as of the respective dates indicated. </p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse;  margin-left:1.5%;width:491.25pt;;">
<tr>
<td style="width:104.25pt;"></td>
<td style="width:58.5pt;"></td>
<td style="width:58.5pt;"></td>
<td style="width:58.5pt;"></td>
<td style="width:67.5pt;"></td>
<td style="width:72pt;"></td>
<td style="width:72pt;"></td>
</tr>
<tr style="height:13pt;">
<td valign="middle" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:11pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">As of</p></td>
<td valign="middle" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:11pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">15-29 days</p></td>
<td valign="middle" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:11pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">30-59 days</p></td>
<td valign="middle" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:11pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">60-89 days</p></td>
<td valign="middle" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:11pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">90-119 days</p></td>
<td valign="middle" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:11pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">120-149 days</p></td>
<td valign="middle" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:11pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">150-179 days</p></td>
</tr>
<tr style="height:13pt;">
<td valign="middle" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">March 31, 2015</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.79%</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.75%</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.10%</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.01%</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.87%</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.67%</p></td>
</tr>
<tr style="height:13pt;">
<td valign="middle" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">June 30, 2015</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.88%</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.06%</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.67%</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.54%</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.89%</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.67%</p></td>
</tr>
<tr style="height:13pt;">
<td valign="middle" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">September 30, 2015</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.67%</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.89%</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.61%</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.54%</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.44%</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.35%</p></td>
</tr>
<tr style="height:13pt;">
<td valign="middle" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">December 31, 2015</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.80%</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.93%</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.51%</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.49%</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.39%</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.32%</p></td>
</tr>
<tr style="height:13pt;">
<td valign="middle" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">March 31, 2016</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.62%</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.93%</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.72%</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.61%</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.48%</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.32%</p></td>
</tr>
<tr style="height:13pt;">
<td valign="middle" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">June 30, 2016</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.82%</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.01%</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.63%</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.43%</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.47%</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.44%</p></td>
</tr>
<tr style="height:13pt;">
<td valign="middle" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">September 30, 2016</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.83%</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.11%</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.80%</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.63%</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.49%</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.39%</p></td>
</tr>
<tr style="height:13pt;">
<td valign="middle" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">December 31, 2016</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.63%</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.91%</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.75%</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.79%</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.69%</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.57%</p></td>
</tr>
<tr style="height:13pt;">
<td valign="middle" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">March 31, 2017</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.57%</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.95%</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.79%</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.59%</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.54%</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.51%</p></td>
</tr>
<tr style="height:13pt;">
<td valign="middle" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">June 30, 2017</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.86%</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.11%</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.79%</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.51%</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.55%</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.52%</p></td>
</tr>
<tr style="height:13pt;">
<td valign="middle" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">September 30, 2017</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.89%</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.40%</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.15%</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.02%</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.79%</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">0.60%</p></td>
</tr>
<tr style="height:13pt;">
<td valign="middle" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">December 31, 2017</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2.27%</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2.21%</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.72%</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.63%</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.36%</p></td>
<td valign="middle" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.20%</p></td>
</tr>
</table></div>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The following chart and table display the historical cumulative 30-day plus past due delinquency rates by loan origination vintage for all continuing loan products facilitated through the Company&#8217;s online marketplace:</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Cambria;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU7"></a><img src="g2018032114562324522777.jpg" title="" alt="" style="width:574px;height:306px;"><font style="font-family:Cambria;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"></font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:468pt;;">
<tr>
<td style="width:55pt;"></td>
<td style="width:15pt;"></td>
<td style="width:17pt;"></td>
<td style="width:19pt;"></td>
<td style="width:18pt;"></td>
<td style="width:19pt;"></td>
<td style="width:17pt;"></td>
<td style="width:19pt;"></td>
<td style="width:18pt;"></td>
<td style="width:19pt;"></td>
<td style="width:17pt;"></td>
<td style="width:19pt;"></td>
<td style="width:18pt;"></td>
<td style="width:19pt;"></td>
<td style="width:17pt;"></td>
<td style="width:19pt;"></td>
<td style="width:18pt;"></td>
<td style="width:19pt;"></td>
<td style="width:17pt;"></td>
<td style="width:19pt;"></td>
<td style="width:18pt;"></td>
<td style="width:19pt;"></td>
<td style="width:17pt;"></td>
<td style="width:16pt;"></td>
</tr>
<tr style="height:9pt;">
<td valign="bottom" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:8pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:8pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:8pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:8pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:8pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:8pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:8pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:8pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:8pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:8pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:8pt;">&nbsp;</p></td>
<td colspan="3" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:0.3%;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Month on Book</p></td>
<td valign="bottom" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:8pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:8pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:8pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:8pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:8pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:8pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:8pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:8pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:8pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:8pt;">&nbsp;</p></td>
</tr>
<tr style="height:2pt;">
<td valign="bottom"  style=" border-bottom:solid 1pt transparent;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:1.5pt;">&nbsp;</p></td>
<td valign="bottom"  style=" border-bottom:solid 1pt transparent;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:1.5pt;">&nbsp;</p></td>
<td valign="bottom"  style=" border-bottom:solid 1pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:1.5pt;">&nbsp;</p></td>
<td valign="bottom"  style=" border-bottom:solid 1pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:1.5pt;">&nbsp;</p></td>
<td valign="bottom"  style=" border-bottom:solid 1pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:1.5pt;">&nbsp;</p></td>
<td valign="bottom"  style=" border-bottom:solid 1pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:1.5pt;">&nbsp;</p></td>
<td valign="bottom"  style=" border-bottom:solid 1pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:1.5pt;">&nbsp;</p></td>
<td valign="bottom"  style=" border-bottom:solid 1pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:1.5pt;">&nbsp;</p></td>
<td valign="bottom"  style=" border-bottom:solid 1pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:1.5pt;">&nbsp;</p></td>
<td valign="bottom"  style=" border-bottom:solid 1pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:1.5pt;">&nbsp;</p></td>
<td valign="bottom"  style=" border-bottom:solid 1pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:1.5pt;">&nbsp;</p></td>
<td valign="bottom"  style=" border-bottom:solid 1pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:1.5pt;">&nbsp;</p></td>
<td valign="bottom"  style=" border-bottom:solid 1pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:1.5pt;">&nbsp;</p></td>
<td valign="bottom"  style=" border-bottom:solid 1pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:1.5pt;">&nbsp;</p></td>
<td valign="bottom"  style=" border-bottom:solid 1pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:1.5pt;">&nbsp;</p></td>
<td valign="bottom"  style=" border-bottom:solid 1pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:1.5pt;">&nbsp;</p></td>
<td valign="bottom"  style=" border-bottom:solid 1pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:1.5pt;">&nbsp;</p></td>
<td valign="bottom"  style=" border-bottom:solid 1pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:1.5pt;">&nbsp;</p></td>
<td valign="bottom"  style=" border-bottom:solid 1pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:1.5pt;">&nbsp;</p></td>
<td valign="bottom"  style=" border-bottom:solid 1pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:1.5pt;">&nbsp;</p></td>
<td valign="bottom"  style=" border-bottom:solid 1pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:1.5pt;">&nbsp;</p></td>
<td valign="bottom"  style=" border-bottom:solid 1pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:1.5pt;">&nbsp;</p></td>
<td valign="bottom"  style=" border-bottom:solid 1pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:1.5pt;">&nbsp;</p></td>
<td valign="bottom"  style=" border-bottom:solid 1pt transparent;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:1.5pt;">&nbsp;</p></td>
</tr>
<tr style="height:9pt;">
<td colspan="2" valign="bottom" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:2.24%;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Vintage</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:3.14%;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">2<font style="font-size:13pt;"><sup style="font-size:85%; vertical-align:top">nd</sup></font></p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:3.29%;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">3<font style="font-size:13pt;"><sup style="font-size:85%; vertical-align:top">rd</sup></font></p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:3.29%;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">4<font style="font-size:13pt;"><sup style="font-size:85%; vertical-align:top">th</sup></font></p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:3.43%;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">5<font style="font-size:13pt;"><sup style="font-size:85%; vertical-align:top">th</sup></font></p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:2.69%;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">6<font style="font-size:13pt;"><sup style="font-size:85%; vertical-align:top">th</sup></font></p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:3.43%;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">7<font style="font-size:13pt;"><sup style="font-size:85%; vertical-align:top">th</sup></font></p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:3.29%;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">8<font style="font-size:13pt;"><sup style="font-size:85%; vertical-align:top">th</sup></font></p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:3.43%;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">9<font style="font-size:13pt;"><sup style="font-size:85%; vertical-align:top">th</sup></font></p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:2.99%;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">10<font style="font-size:13pt;"><sup style="font-size:85%; vertical-align:top">th</sup></font></p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:3.14%;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">11<font style="font-size:13pt;"><sup style="font-size:85%; vertical-align:top">th</sup></font></p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.34%;text-indent:0pt;;font-weight:bold;font-size:8pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">12<font style="font-size:13pt;"><sup style="font-size:85%; vertical-align:top">th</sup></font></p></td>
</tr>
<tr style="height:2pt;">
<td valign="bottom"  style=" border-bottom:solid 1pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:1.5pt;">&nbsp;</p></td>
<td valign="bottom"  style=" border-bottom:solid 1pt transparent;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:1.5pt;">&nbsp;</p></td>
<td valign="bottom"  style=" border-bottom:solid 1pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:1.5pt;">&nbsp;</p></td>
<td valign="bottom"  style=" border-bottom:solid 1pt transparent;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:1.5pt;">&nbsp;</p></td>
<td valign="bottom"  style=" border-bottom:solid 1pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:1.5pt;">&nbsp;</p></td>
<td valign="bottom"  style=" border-bottom:solid 1pt transparent;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:1.5pt;">&nbsp;</p></td>
<td valign="bottom"  style=" border-bottom:solid 1pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:1.5pt;">&nbsp;</p></td>
<td valign="bottom"  style=" border-bottom:solid 1pt transparent;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:1.5pt;">&nbsp;</p></td>
<td valign="bottom"  style=" border-bottom:solid 1pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:1.5pt;">&nbsp;</p></td>
<td valign="bottom"  style=" border-bottom:solid 1pt transparent;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:1.5pt;">&nbsp;</p></td>
<td valign="bottom"  style=" border-bottom:solid 1pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:1.5pt;">&nbsp;</p></td>
<td valign="bottom"  style=" border-bottom:solid 1pt transparent;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:1.5pt;">&nbsp;</p></td>
<td valign="bottom"  style=" border-bottom:solid 1pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:1.5pt;">&nbsp;</p></td>
<td valign="bottom"  style=" border-bottom:solid 1pt transparent;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:1.5pt;">&nbsp;</p></td>
<td valign="bottom"  style=" border-bottom:solid 1pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:1.5pt;">&nbsp;</p></td>
<td valign="bottom"  style=" border-bottom:solid 1pt transparent;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:1.5pt;">&nbsp;</p></td>
<td valign="bottom"  style=" border-bottom:solid 1pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:1.5pt;">&nbsp;</p></td>
<td valign="bottom"  style=" border-bottom:solid 1pt transparent;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:1.5pt;">&nbsp;</p></td>
<td valign="bottom"  style=" border-bottom:solid 1pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:1.5pt;">&nbsp;</p></td>
<td valign="bottom"  style=" border-bottom:solid 1pt transparent;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:1.5pt;">&nbsp;</p></td>
<td valign="bottom"  style=" border-bottom:solid 1pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:1.5pt;">&nbsp;</p></td>
<td valign="bottom"  style=" border-bottom:solid 1pt transparent;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:1.5pt;">&nbsp;</p></td>
<td valign="bottom"  style=" border-bottom:solid 1pt #000000;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:1.5pt;">&nbsp;</p></td>
<td valign="bottom"  style=" border-bottom:solid 1pt transparent;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:1.5pt;">&nbsp;</p></td>
</tr>
<tr style="height:13pt;">
<td colspan="2" valign="bottom" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:2.54%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2015Q1 . . . .</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.95%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2.75%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3.46%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3.98%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.05%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.36%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.58%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.67%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.69%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.73%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.76%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.74%</p></td>
</tr>
<tr style="height:12pt;">
<td colspan="2" valign="bottom" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:2.54%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2015Q2 . . . .</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.74%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2.66%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3.38%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3.75%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.05%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.02%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.15%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.30%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.38%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.45%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.46%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.46%</p></td>
</tr>
<tr style="height:12pt;">
<td colspan="2" valign="bottom" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:2.54%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2015Q3 . . . .</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.46%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2.13%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2.70%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3.15%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.05%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3.47%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3.68%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3.77%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3.85%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3.93%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.01%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.02%</p></td>
</tr>
<tr style="height:12pt;">
<td colspan="2" valign="bottom" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:2.54%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2015Q4 . . . .</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.54%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2.27%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2.88%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3.17%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.05%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3.53%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3.77%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3.97%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.12%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.26%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.32%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.33%</p></td>
</tr>
<tr style="height:12pt;">
<td colspan="2" valign="bottom" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:2.54%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2016Q1 . . . .</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.00%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.57%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2.21%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2.82%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.05%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3.33%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3.77%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.09%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.33%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.45%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.57%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.59%</p></td>
</tr>
<tr style="height:12pt;">
<td colspan="2" valign="bottom" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:2.54%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2016Q2 . . . .</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.75%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2.49%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3.21%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3.77%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.05%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.17%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.39%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.59%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.76%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.88%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.94%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.96%</p></td>
</tr>
<tr style="height:12pt;">
<td colspan="2" valign="bottom" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:2.54%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2016Q3 . . . .</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.67%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2.45%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2.96%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3.47%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.05%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3.87%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.11%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.27%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.44%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.59%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.70%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.77%</p></td>
</tr>
<tr style="height:12pt;">
<td colspan="2" valign="bottom" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:2.54%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2016Q4 . . . .</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.29%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2.07%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2.66%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3.15%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.05%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3.59%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3.97%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.32%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.62%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.88%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">5.07%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">5.18%</p></td>
</tr>
<tr style="height:12pt;">
<td colspan="2" valign="bottom" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:2.54%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2017Q1 . . . .</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.20%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2.01%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2.68%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3.32%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.05%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3.87%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.33%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.68%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.98%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:2.84%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8212;</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:2.84%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8212;</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.19%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8212;</p></td>
</tr>
<tr style="height:12pt;">
<td colspan="2" valign="bottom" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:2.54%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2017Q2 . . . .</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.72%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2.89%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3.81%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4.55%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.05%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">5.14%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:2.84%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8212;</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:2.84%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8212;</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:2.84%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8212;</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:2.84%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8212;</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:2.84%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8212;</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.19%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8212;</p></td>
</tr>
<tr style="height:12pt;">
<td colspan="2" valign="bottom" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:2.54%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2017Q3 . . . .</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.82%</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:1.64%;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2.93%</p></td>
<td colspan="2" valign="top" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:2.84%;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td colspan="2" valign="top" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:2.84%;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td colspan="2" valign="top" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:2.84%;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td colspan="2" valign="top" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:2.84%;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td colspan="2" valign="top" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:2.84%;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td colspan="2" valign="top" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:2.84%;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td colspan="2" valign="top" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:2.84%;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td colspan="2" valign="top" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:2.84%;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td colspan="2" valign="top" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;margin-right:2.84%;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
</tr>
</table></div>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-weight:bold;;">&nbsp;</p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">Fiscal Year 2017 Financial Results</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-weight:bold;;">&nbsp;</p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">Operating revenues<font style="font-weight:normal;"> for the fiscal year 2017 increased by 222.3% to</font><font style="color:#FF0000;font-weight:normal;"> </font><font style="font-weight:normal;">RMB3,895.8 million (US$598.8 million) from RMB1,208.7 million in 2016, primarily due to the increase in loan facilitation service fees, post-facilitation service fees and other revenues as a result of the substantial increase in loan origination volume, partially offset by a one-time provision of RMB107.7 million in the fourth quarter of 2017 for the expected discretionary payments to investors in investment programs protected by the investor reserve funds due to the increase in delinquency rates.</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-weight:bold;;">&nbsp;</p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-style:italic;font-family:Times New Roman;font-size:12pt;font-weight:normal;text-transform:none;font-variant: normal;">Loan facilitation service fees<font style="font-style:normal;"> increased by 212.0% to RMB2,843.3 million (US$437.0million) for the fiscal year 2017 from RMB911.4 million in 2016, primarily due to the substantial increases in loan origination volume and the number of unique borrowers on the Company&#8217;s platform. The average rate of transaction fees charged to borrowers was 6.5%, compared with 6.4% in 2016. </font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-style:italic;font-family:Times New Roman;font-size:12pt;font-weight:normal;text-transform:none;font-variant: normal;">Post-facilitation service fees<font style="font-style:normal;"> increased significantly by 427.4% to RMB668.8 million (US$102.8 million) for the fiscal year 2017 from RMB126.8 million in the prior year, primarily due to the substantial increase in loan origination volume and the rolling impact of deferred transaction fees. </font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-style:italic;font-family:Times New Roman;font-size:12pt;font-weight:normal;text-transform:none;font-variant: normal;">Other revenue<font style="font-style:normal;"> increased by 188.4% to RMB491.4 million (US$75.5 million) for the fiscal year 2017 from RMB170.4 million in 2016, primarily attributable to an increase in collection fees.</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-style:italic;font-family:Times New Roman;font-size:12pt;font-weight:normal;text-transform:none;font-variant: normal;">Net interest income/(expense) and loan provision losses<font style="font-style:normal;"> for the fiscal year 2017 was an expense of RMB15.2 million (US$2.3 million), compared with an income of RMB7.1 million in 2016, primarily due to provisions for expected loan losses related to the Company&#8217;s investments in trusts that were newly set up during the period. </font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">Origination and servicing expenses<font style="font-weight:normal;"> increased by 151.1% to RMB974.5 million (US$149.8 million) for the fiscal year 2017 from RMB388.1 million in the prior year, primarily due to the increase in headcount particularly for consumption loan products and loan collection services, and to a lesser extent, due to an increase in referral fees paid to third parties for successful loan originations.</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">Sales and marketing expenses<font style="font-weight:normal;"> increased by 123.3% to RMB788.3 million (US$121.2 million) for the fiscal year 2017 from RMB353.0 million in 2016. The increase was primarily due to the increase in expenses associated with online customer acquisition, which mainly include expenses paid to internet marketing channels for online advertising and search engine marketing as well as to certain websites that enable PPDAI to reach quality borrowers, and expenses related to branding.</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU8"></a>General and administrative expenses<font style="font-weight:normal;"> increased by 147.5% to RMB588.7 million (US$90.5 million) for the fiscal year 2017 from RMB237.8 million in 2016, primarily due to the increase in staff costs and recognition of share based compensation expenses of RMB106.2 </font></p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-weight:normal;">in the fourth quarter of 2017 related to employee options granted historically with a performance target contingent upon IPO and cancellation of the share based compensation plan of a subsidiary company.</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">Operating income<font style="font-weight:normal;"> increased by 544.8% to RMB 1,529.2 million (US$235.0 million) for the fiscal year 2017 from RMB 236.8 million in 2016. </font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">Non-GAAP adjusted operating income<font style="font-weight:normal;">, which excludes other income/ (expenses), share-based compensation expenses and a one-time provision for expected discretionary payments to investors in investment programs protected by the Company&#8217;s investor protection funds in the fourth quarter from profit/(loss) before tax, increased by 635.9% to RMB 1,743.0 million (US$267.9 million) for the fiscal year 2017 from RMB236.8 million in 2016. </font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU9"></a>Other income <font style="font-weight:normal;">recorded a loss of RMB171.5 million (US$26.4 million) for the fiscal year 2017, compared to a gain of RMB312.9 million in 2016. Other income primarily consisted of a RMB5.9 million (US$0.9 million) gain from the quality assurance fund resulting from the growth in loans facilitated on the Company&#8217;s platform that are protected by the quality assurance fund, and a RMB169.1 million (US$26.0 million) realized gain from financial guarantee derivatives due to the amount of investment programs maturing during the period, offset by </font></p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-weight:normal;">a negative RMB383.1 million (US$58.9 million) fair value change of financial guarantee derivatives due to an upward adjustment in the expected default rate for underlying loans&nbsp;&nbsp;investment programs protected by the investor reserve funds.</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">Income tax expenses<font style="font-weight:normal;"> were RMB274.7 million (US$42.2 million) for the fiscal year 2017, compared with RMB48.3 million in 2016. The increase was primarily due to improved profitability in fiscal year 2017. </font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">Net profit<font style="font-weight:normal;"> was RMB1,082.9 million (US$166.4 million) for fiscal year 2017, up 115.9% from RMB501.5 million in 2016.</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">Net loss attributable to ordinary shareholders of the Company<font style="font-weight:normal;"> was RMB1,990.6 million (US$305.9 million) for fiscal year 2017, compared with net loss attributable to ordinary shareholders of RMB60.5 million in 2016 due to the accretion losses on the Company&#8217;s Series A, B and C preferred shares.</font></p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">Recent Development</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Due to the tightening regulatory requirements, the company has recently ceased to offer new investment programs with step-up returns to investors effective March 12, 2018, primarily to ensure regulatory compliance. Investors who have invested in the existing investment programs with step-up returns will not be affected by the change.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">Business Outlook</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">PPDAI currently expects total loan volume for the fiscal year 2018 to be in the range of RMB70 billion to RMB80 billion. This forecast is PPDAI&#8217;s current and preliminary view, which is subject to changes.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">Conference Call</p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company&#8217;s management will host an earnings conference call at 8:00 AM U.S. Eastern Time on March 21, 2018 (8:00 PM Beijing/Hong Kong time on March 21, 2018).</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Dial-in details for the earnings conference call are as follows:</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse;  margin-left:0.81%;width:239.35pt;;">
<tr>
<td style="width:127.7pt;"></td>
<td style="width:111.65pt;"></td>
</tr>
<tr>
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">United States (toll free):</p></td>
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1-888-346-8982</p></td>
</tr>
<tr>
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">International:</p></td>
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1-412-902-4272</p></td>
</tr>
<tr>
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Hong Kong (toll free):</p></td>
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">800-905-945</p></td>
</tr>
<tr>
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Hong Kong:</p></td>
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">852-3018-4992</p></td>
</tr>
<tr>
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">China:</p></td>
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">400-120-1203</p></td>
</tr>
</table></div>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Participants should dial-in at least 5 minutes before the scheduled start time and ask to be connected to the call for &#8220;PPDAI Group.&#8221;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Additionally, a live and archived webcast of the conference call will be available on the Company's investor relations website at <font style="text-decoration:underline;color:#0000FF;">http://ir.ppdai.com</font>.</p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:5pt;margin-top:5pt;Background-color:#FFFFFF;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU10"></a><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">A replay of the conference call will be accessible approximately one hour after the conclusion of the live call until </font><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">March 28</font><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">, 2018, by dialing the following telephone numbers:</font></p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse;  margin-left:0.81%;width:217.1pt;;">
<tr>
<td style="width:127.7pt;"></td>
<td style="width:89.4pt;"></td>
</tr>
<tr>
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">United States (toll free):</p></td>
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1-877-344-7529</p></td>
</tr>
<tr style="height:10pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">International:</p></td>
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1-412-317-0088</p></td>
</tr>
<tr>
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Replay Access Code:</p></td>
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">10117727</p></td>
</tr>
</table></div>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">About PPDAI Group Inc.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">PPDAI is a leading online consumer finance marketplace in China with strong brand recognition. Launched in 2007, the Company is the first online consumer finance marketplace in China connecting borrowers and investors. As a pioneer in China&#8217;s online consumer finance marketplace, the Company benefits from both its early-mover advantages and the invaluable data and experience accumulated throughout multiple complete loan lifecycles. The Company&#8217;s platform, empowered by its proprietary, cutting-edge technologies, features a highly automated loan transaction process, which enables a superior user experience, as evidenced by the rapid growth of the Company&#8217;s user base and loan origination volume. As of December 31, 2017, the Company had over 65 million cumulative registered users.</p>
<p style="margin-bottom:5pt;margin-top:5pt;Background-color:#FFFFFF;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">For more information, please visit <font style="text-decoration:underline;color:#0000FF;">http://ir.ppdai.com</font>.</p>
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">Use of Non-GAAP Financial Measures</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10.5pt;">&nbsp;</p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#212121;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">We use Non-GAAP operating income, a Non-GAAP financial measure, in evaluating our operating results and for financial and operational decision-making purposes. We believe that adjusted operating income help identify underlying trends in our business by excluding the impact of share-based compensation expenses and expected discretionary measures. We believe that adjusted operating income provide useful information about our operating results, enhance the overall understanding of our past performance and future prospects and allow for greater visibility with respect to key metrics used by our management in its financial and operational decision-making.</p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#212121;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;</p>
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#212121;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU11"></a>Non-GAAP adjusted operating income is not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. This Non-GAAP financial measure has limitations as analytical tools, and when assessing our operating performance, cash flows or our liquidity, investors should not consider them in isolation, or as a substitute for net (loss)/income, cash flows provided by operating activities or other </p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;color:#212121;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="color:#212121;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">consolidated statements of operation and cash flow data prepared in accordance with U.S. GAAP. </font><font style="color:#212121;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company encourages investors and others to review our financial information in its entirety and not rely on a single financial measure.</font></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-weight:bold;;">&nbsp;</p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#212121;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">For more information on this Non-GAAP financial measure, please see the table captioned "Reconciliations of GAAP and Non-GAAP results" set forth at the end of this press release.</p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;color:#212121;font-family:Calibri;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#160;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-weight:bold;;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-weight:bold;;">&nbsp;</p>
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">Exchange Rate Information</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader.&#160;Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB6.5063 to US$1.00, the rate in effect as of December 29, 2017 as certified for customs purposes by the Federal Reserve Bank of New York.</p>
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">Safe Harbor Statement</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as &#8220;will,&#8221; &#8220;expects,&#8221; &#8220;anticipates,&#8221; &#8220;future,&#8221; &#8220;intends,&#8221; &#8220;plans,&#8221; &#8220;believes,&#8221; &#8220;estimates,&#8221; &#8220;target,&#8221; &#8220;confident&#8221; and similar statements. Such statements are based upon management's current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company&#8217;s control. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results to differ materially from those contained in any such statements. Potential risks and uncertainties include, but are not limited to, uncertainties as to the Company's ability to attract and retain borrowers and investors on its marketplace, its ability to increase volume of loans facilitated through the Company&#8217;s marketplace, its ability to introduce new loan products and platform enhancements, its ability to compete effectively, laws, regulations and governmental policies relating to the online consumer finance industry in China, general economic conditions in China, and the Company&#8217;s ability to meet the standards necessary to maintain listing of its ADSs on the NYSE, including its ability to cure any non-compliance with the NYSE's continued listing criteria. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and PPDAI does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law. </p>
<p style="margin-bottom:5pt;margin-top:5pt;Background-color:#FFFFFF;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">For investor and media inquiries, please contact: </p>
<p style="margin-bottom:5pt;margin-top:5pt;Background-color:#FFFFFF;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU12"></a>In China:<br />PPDAI Group Inc.<br />Jimmy Tan / Sally Huo<br /></p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="margin-bottom:5pt;margin-top:5pt;Background-color:#FFFFFF;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Tel: +86 (21) 8030 3200-8601</font><font style="font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><br />E-mail:&#160;ir@ppdai.com</font></p>
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Piacente Group, Inc.</p>
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Ross Warner</p>
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Tel: +86 (10) 5730-6200</p>
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">E-mail: paipaidai@tpg-ir.com </p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;">&nbsp;</p>
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In the United States:</p>
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Piacente Group, Inc.&nbsp;&nbsp; </p>
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Alan Wang</p>
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Tel: +1-212-481-2050</p>
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">E-mail: paipaidai@tpg-ir.com</p>
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">PPDAI GROUP INC.</p>
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">UNAUDITED INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS</p>
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;"> (All amounts in thousands, except share data, or otherwise noted)</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-weight:bold;;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse;  margin-left:0.81%;width:554.4pt;;"></table></div>
<p style="margin-top:12pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse;  margin-left:0.81%;width:554.4pt;;">
<tr>
<td style="width:284.05pt;"></td>
<td style="width:110.8pt;"></td>
<td style="width:103.75pt;"></td>
<td style="width:55.8pt;"></td>
</tr>
<tr>
<td style="width:284.05pt;"></td>
<td style="width:110.8pt;"></td>
<td style="width:103.75pt;"></td>
<td style="width:55.8pt;"></td>
</tr>
<tr style="height:13pt;">
<td valign="middle" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;">&nbsp;</p></td>
<td valign="middle" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">As of December 31,</p></td>
<td colspan="2" valign="middle" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">As of December 31,</p></td>
</tr>
<tr style="height:13pt;">
<td valign="middle"  style=" border-bottom:solid 1pt transparent;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-weight:bold;;font-size:10pt;">&nbsp;</p></td>
<td valign="middle"  style=" border-bottom:solid 1pt #000000;">
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">2016</p></td>
<td colspan="2" valign="middle"  style=" border-bottom:solid 1pt #000000;">
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">2017</p></td>
</tr>
<tr style="height:13pt;">
<td valign="middle" >
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-weight:bold;;font-size:10pt;">&nbsp;</p></td>
<td valign="middle" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">RMB</p></td>
<td valign="middle" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">RMB</p></td>
<td valign="middle" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">USD$</p></td>
</tr>
<tr style="height:13pt;">
<td valign="middle" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Assets</p></td>
<td valign="bottom" >
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-weight:bold;;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Cash and cash equivalents</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 404,678 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,891,131 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 290,661 </p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Restricted cash</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 802,887 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,392,573 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 367,732 </p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Short-term investments</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 260,000 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,958,910 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;301,079 </p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Quality assurance fund receivable</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;286,812 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,152,769 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 177,177 </p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Property, equipment and software, net</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37,629 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 108,248 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16,637 </p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Intangible assets</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63,760 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9,799 </p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Loans receivable, net of provision for loan losses </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28,225 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;681,794 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 104,790 </p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Financial guarantee derivative assets</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 167,291 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Investment in equity investees</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,428 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8,857 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,361 </p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Available-for-sale securities </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">-</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3,377 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 519</p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Accounts receivable</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14,195 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17,773 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,732 </p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Deferred tax assets</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31,718 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128,361 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19,729 </p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Loan extended to related party</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11,010 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Prepaid expenses and other assets</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100,418 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145,699 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22,395 </p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom"  style=" border-bottom:solid 0.75pt transparent;">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Goodwill</p></td>
<td valign="bottom"  style=" border-bottom:solid 0.75pt #000000;">
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp; </p></td>
<td valign="bottom"  style=" border-bottom:solid 0.75pt #000000;">
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50,411 </p></td>
<td valign="bottom"  style=" border-bottom:solid 0.75pt #000000;">
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7,749 </p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom"  style=" border-bottom:solid 0.75pt transparent;">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Total assets</p></td>
<td valign="bottom"  style=" border-bottom:solid 0.75pt #000000;">
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2,147,291 </p></td>
<td valign="bottom"  style=" border-bottom:solid 0.75pt #000000;">
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </p>
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">8,603,663 </p></td>
<td valign="bottom"  style=" border-bottom:solid 0.75pt #000000;">
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,322,360 </p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
</tr>
<tr style="height:13pt;">
<td colspan="2" valign="middle" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Liabilities, Mezzanine Equity and Shareholders&#8217; Deficit:</p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-weight:bold;;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Payable to platform customers </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;421,659 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,113,966 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 171,213 </p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Quality assurance fund payable </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;473,704 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2,062,844 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;317,053 </p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Deferred revenue </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162,896 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 265,094 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40,744 </p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Payroll and welfare payable </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84,534 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 156,831 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24,105 </p></td>
</tr></table></div>
<p style="margin-top:12pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse;  margin-left:0.81%;width:554.4pt;;">
<tr>
<td style="width:284.05pt;"></td>
<td style="width:110.8pt;"></td>
<td style="width:103.75pt;"></td>
<td style="width:55.8pt;"></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU13"></a><font style="font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Taxes payable </font></p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85,209 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;257,143 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 39,522 </p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Deferred tax liability </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">-</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15,940 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,450 </p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Funds payable to investors of consolidated trusts </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30,084 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;502,641 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77,255 </p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Due to related party</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15,634 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11,972 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,840 </p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Financial guarantee derivative</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp; </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 323,430 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49,710 </p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom"  style=" border-bottom:solid 0.75pt transparent;">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Accrued expenses and other liabilities</p></td>
<td valign="bottom"  style=" border-bottom:solid 0.75pt #000000;">
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 101,349 </p></td>
<td valign="bottom"  style=" border-bottom:solid 0.75pt #000000;">
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 211,614 </p></td>
<td valign="bottom"  style=" border-bottom:solid 0.75pt #000000;">
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 32,524 </p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom"  style=" border-bottom:solid 0.75pt transparent;">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Total liabilities</p></td>
<td valign="bottom"  style=" border-bottom:solid 0.75pt #000000;">
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,375,069 </p></td>
<td valign="bottom"  style=" border-bottom:solid 0.75pt #000000;">
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </p>
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> 4,921,475 </p></td>
<td valign="bottom"  style=" border-bottom:solid 0.75pt #000000;">
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;756,416 </p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Commitments and contingencies</p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-weight:bold;;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Mezzanine equity</p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-weight:bold;;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Series A convertible redeemable preferred shares</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;369,033 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Series B convertible redeemable preferred shares</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 339,781 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom"  style=" border-bottom:solid 0.75pt transparent;">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Series C convertible redeemable preferred shares</p></td>
<td valign="bottom"  style=" border-bottom:solid 0.75pt #000000;">
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 501,831 </p></td>
<td valign="bottom"  style=" border-bottom:solid 0.75pt #000000;">
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </p></td>
<td valign="bottom"  style=" border-bottom:solid 0.75pt #000000;">
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom"  style=" border-bottom:solid 0.75pt transparent;">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Total mezzanine equity</p></td>
<td valign="bottom"  style=" border-bottom:solid 0.75pt #000000;">
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,210,645 </p></td>
<td valign="bottom"  style=" border-bottom:solid 0.75pt #000000;">
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </p></td>
<td valign="bottom"  style=" border-bottom:solid 0.75pt #000000;">
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Shareholders&#8217; deficit:</p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-weight:bold;;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Ordinary shares</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">-</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 </p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Additional paid-in capital</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">-</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5,951,088 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 914,666 </p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Non-controlling interest</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">-</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60,021 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9,225 </p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Statutory reserves</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15,662 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55,090 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8,467 </p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Accumulated other comprehensive loss/(income)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (85,017)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14,917 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,293 </p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom"  style=" border-bottom:solid 0.75pt transparent;">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Accumulated deficit</p></td>
<td valign="bottom"  style=" border-bottom:solid 0.75pt #000000;">
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (369,068)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2,398,984)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(368,716)</p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom"  style=" border-bottom:solid 0.75pt transparent;">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Total shareholders&#8217; deficit</p></td>
<td valign="bottom"  style=" border-bottom:solid 0.75pt #000000;">
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(438,423)</p></td>
<td valign="bottom"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;">
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3,682,188 </p></td>
<td valign="bottom"  style=" border-top:solid 0.75pt #000000; border-bottom:solid 0.75pt #000000;">
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 565,944 </p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom"  style=" border-bottom:solid 0.75pt transparent;">
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Total liabilities, mezzanine equity and shareholders&#8217; deficit</p></td>
<td valign="bottom"  style=" border-bottom:solid 0.75pt #000000;">
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2,147,291 </p></td>
<td valign="bottom"  style=" border-bottom:solid 0.75pt #000000;">
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </p>
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;8,603,663 </p></td>
<td valign="bottom"  style=" border-bottom:solid 0.75pt #000000;">
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,322,360 </p></td>
</tr>
</table></div>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="Background-color:#auto;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Cambria;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><br /></p>
<p style="margin-top:12pt; clear:both;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-weight:bold;;">&nbsp;</p>
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">PPDAI GROUP INC.</p>
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS)</p>
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;"> (All amounts in thousands, except share data, or otherwise noted)</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-weight:bold;;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse;  margin-left:0.81%;width:669.55pt;;"></table></div>
<p style="margin-top:12pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse;  margin-left:0.81%;width:669.55pt;;">
<tr>
<td style="width:222.3pt;"></td>
<td style="width:81.55pt;"></td>
<td style="width:75.9pt;"></td>
<td style="width:76.05pt;"></td>
<td style="width:71.8pt;"></td>
<td style="width:72.8pt;"></td>
<td style="width:69.15pt;"></td>
</tr>
<tr>
<td style="width:222.3pt;"></td>
<td style="width:81.55pt;"></td>
<td style="width:75.9pt;"></td>
<td style="width:76.05pt;"></td>
<td style="width:71.8pt;"></td>
<td style="width:72.8pt;"></td>
<td style="width:69.15pt;"></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;">&nbsp;</p></td>
<td colspan="3" valign="bottom" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Three Months Ended December 31,</p></td>
<td colspan="3" valign="bottom" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">For the year Ended December 31,</p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-weight:bold;;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">2016</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">2017</p></td>
<td valign="bottom" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">2016</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">2017</p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-weight:bold;;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">RMB</p></td>
<td valign="bottom" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">RMB</p></td>
<td valign="bottom" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">USD</p></td>
<td valign="bottom" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">RMB</p></td>
<td valign="bottom" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">RMB</p></td>
<td valign="bottom" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">USD</p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-weight:bold;;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Operating revenue:</p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-weight:bold;;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Loan facilitation service fees</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 312,874 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 620,237 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 95,329 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 911,448 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2,843,287 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 437,005 </p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Post-facilitation service fees</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 80,854 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227,150 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34,912 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 126,823 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 668,819 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 102,796 </p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Other revenue</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 98,547 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172,393 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26,496 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 170,403 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 491,400 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 75,527 </p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Expected discretionary payment to IRF investors</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(107,661)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16,547)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(107,661)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16,547)</p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Total operating revenues</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 492,275 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 912,119 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140,190 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,208,674 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3,895,845 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 598,781 </p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Net interest income/(expense) and loan provision losses</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3,644 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13,243)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2,035)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7,084 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (15,209)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2,338)</p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Net revenues</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 495,919 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 898,876 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 138,155 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,215,758 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3,880,636 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;596,443 </p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Operating expenses:</p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-weight:bold;;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Origination and servicing expenses</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(103,019)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (267,443)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (41,105)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(349,852)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (890,160)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(136,815)</p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Origination and servicing expenses-related party</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13,690)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (28,834)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4,432)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (38,297)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (84,362)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (12,966)</p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Sales and marketing expenses</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(127,437)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (238,600)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (36,672)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (352,952)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (788,291)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(121,158)</p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">General and administrative expenses</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (88,637)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (250,369)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(38,481)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(237,808)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(588,664)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (90,476)</p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Total operating expenses</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (332,783)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (785,246)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (120,690)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(978,909)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2,351,477)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(361,415)</p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Other income:</p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-weight:bold;;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Gain from quality assurance fund</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 47,692 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(271,850)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(41,783)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 99,961 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5,885 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 904 </p></td>
</tr>
<tr style="height:12pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Realized gain from financial guarantee derivatives</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8,963 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27,105 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4,166 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 31,999 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169,103 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25,991 </p></td>
</tr>
<tr style="height:26pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Fair value change of financial guarantee derivatives</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 60,282 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (460,428)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (70,766)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 146,653 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(383,060)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (58,875)</p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Gain from disposal of subsidiary</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20,611 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Other income, net</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7,742 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10,338 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,589 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13,684 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36,531 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5,614 </p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Profit/ (loss) before income tax expense</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 287,815 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(581,205)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (89,329)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 549,757 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,357,618 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;208,662 </p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Income tax credit/ (expenses)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21,780)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74,139 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11,395 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (48,267)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(274,711)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(42,222)</p></td>
</tr></table></div>
<p style="margin-top:12pt;margin-bottom:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse;  margin-left:0.81%;width:669.55pt;;">
<tr>
<td style="width:222.3pt;"></td>
<td style="width:81.55pt;"></td>
<td style="width:75.9pt;"></td>
<td style="width:76.05pt;"></td>
<td style="width:71.8pt;"></td>
<td style="width:72.8pt;"></td>
<td style="width:69.15pt;"></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU14"></a><font style="font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Net profit/ (loss)</font></p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 266,035 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (507,066)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(77,934)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 501,490 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,082,907 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 166,440 </p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Accretion on Series A convertible redeemable preferred shares to redemption value</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(101,057)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(301,882)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (46,398)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(236,662)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1,237,274)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (190,166)</p></td>
</tr>
<tr style="height:26pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Accretion on Series B convertible redeemable preferred shares to redemption value</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(73,350)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (242,839)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(37,324)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(171,106)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (905,861)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (139,228)</p></td>
</tr>
<tr style="height:26pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Accretion on Series C convertible redeemable preferred shares to redemption value</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(73,705)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(252,153)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(38,755)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (154,254)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (930,336)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (142,990)</p></td>
</tr>
<tr style="height:26pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Net profit/(loss) attributable to ordinary shareholders</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17,923 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1,303,940)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(200,411)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (60,532)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1,990,564)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(305,944)</p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Net profit</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 266,035 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (507,066)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(77,934)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 501,490 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,082,907 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 166,440 </p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Foreign currency translation adjustment, net of nil tax</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (40,236)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10,097)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1,552)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(60,498)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 99,934 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15,360 </p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Comprehensive income/( loss)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 225,799 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (517,163)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (79,486)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;440,992 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,182,841 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 181,800 </p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
</tr>
<tr style="height:66pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Weighted average number of ordinary shares used in computing net loss per share<br /><br /><font style="font-weight:normal;">Basic</font></p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;665,000,000 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,120,473,462 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,120,473,462 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 665,000,000 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;779,804,270 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;779,804,270 </p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Diluted</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1,398,840,400 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,120,473,462 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,120,473,462 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 665,000,000 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;779,804,270 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;779,804,270 </p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp; </p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Income/(loss) per share - Basic</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.0270 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1.1637)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.1789)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.0910)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2.5526)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.3923)</p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Income/(loss) per share - Diluted</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.1902 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1.1637)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.1789)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.0910)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2.5526)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.3923)</p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Income/(loss) per ADS - Basic</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.1348 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5.8187)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.8943)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.4551)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (12.7632)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.9617)</p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Income/(loss) per ADS - Diluted</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.9509 </p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5.8187)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.8943)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.4551)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (12.7632)</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.9617)</p></td>
</tr>
</table></div>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="Background-color:#auto;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Cambria;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><br /></p>
<p style="margin-top:12pt; clear:both;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-weight:bold;;">&nbsp;</p>
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">PPDAI GROUP INC.</p>
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">UNAUDITED Reconciliation of GAAP And Non-GAAP Results</p>
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;"> (All amounts in thousands, except share data, or otherwise noted)</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-weight:bold;;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-weight:bold;;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-weight:bold;;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse;  margin-left:0.81%;width:669.6pt;;">
<tr>
<td style="width:251.3pt;"></td>
<td style="width:90.7pt;"></td>
<td style="width:60.8pt;"></td>
<td style="width:65.8pt;"></td>
<td style="width:77.6pt;"></td>
<td style="width:65.8pt;"></td>
<td style="width:57.6pt;"></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom"  style=" border-bottom:solid 0.75pt transparent;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td colspan="3" valign="bottom"  style=" border-bottom:solid 0.75pt #000000;">
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Three Months Ended </p></td>
<td colspan="3" valign="bottom"  style=" border-bottom:solid 0.75pt #000000;">
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">For the year Ended December 31,</p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-weight:bold;;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style=" border-top:solid 0.75pt #000000;">
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">December 31,2016</p></td>
<td colspan="2" valign="bottom"  style=" border-top:solid 0.75pt #000000;">
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">December 31, 2017</p></td>
<td valign="bottom"  style=" border-top:solid 0.75pt #000000;">
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">2016</p></td>
<td colspan="2" valign="bottom"  style=" border-top:solid 0.75pt #000000;">
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">2017</p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-weight:bold;;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">RMB</p></td>
<td valign="bottom" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">RMB</p></td>
<td valign="bottom" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">USD </p></td>
<td valign="bottom" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">RMB</p></td>
<td valign="bottom" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">RMB</p></td>
<td valign="bottom" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">USD</p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-weight:bold;;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
</tr>
<tr style="height:13pt;">
<td valign="middle" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Operating Revenue</p></td>
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">492,275</p></td>
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">912,119</p></td>
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">140,190</p></td>
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1,208,674</p></td>
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3,895,845</p></td>
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">598,781</p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Add: Expected discretionary payment to IRF investors</p></td>
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">-</p></td>
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">107,661</p></td>
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">16,547</p></td>
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">-</p></td>
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">107,661</p></td>
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">16,547</p></td>
</tr>
<tr style="height:13pt;">
<td valign="middle" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Non-GAAP adjusted operating revenue</p></td>
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">492,275</p></td>
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1,019,780</p></td>
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">156,737</p></td>
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1,208,674</p></td>
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4,003,506</p></td>
<td valign="bottom"  BGCOLOR="#FFFFFF">
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">615,328</p></td>
</tr>
</table></div>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-weight:bold;;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse;  margin-left:0.81%;width:669.6pt;;">
<tr>
<td style="width:251.3pt;"></td>
<td style="width:90.7pt;"></td>
<td style="width:60.8pt;"></td>
<td style="width:65.8pt;"></td>
<td style="width:77.6pt;"></td>
<td style="width:65.8pt;"></td>
<td style="width:57.6pt;"></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom"  style=" border-bottom:solid 0.75pt transparent;">
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td colspan="3" valign="bottom"  style=" border-bottom:solid 0.75pt #000000;">
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Three Months Ended </p></td>
<td colspan="3" valign="bottom"  style=" border-bottom:solid 0.75pt #000000;">
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">For the year Ended December 31,</p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-weight:bold;;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom"  style=" border-top:solid 0.75pt #000000;">
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">December 31,2016</p></td>
<td colspan="2" valign="bottom"  style=" border-top:solid 0.75pt #000000;">
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">December 31, 2017</p></td>
<td valign="bottom"  style=" border-top:solid 0.75pt #000000;">
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">2016</p></td>
<td colspan="2" valign="bottom"  style=" border-top:solid 0.75pt #000000;">
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">2017</p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-weight:bold;;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">RMB</p></td>
<td valign="bottom" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">RMB</p></td>
<td valign="bottom" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">USD </p></td>
<td valign="bottom" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">RMB</p></td>
<td valign="bottom" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">RMB</p></td>
<td valign="bottom" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">USD</p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-weight:bold;;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;">&nbsp;</p></td>
</tr>
<tr style="height:13pt;">
<td valign="middle" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Profit/(loss) before income tax</p></td>
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">287,815</p></td>
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(581,205)</p></td>
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(89,329)</p></td>
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">549,757</p></td>
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1,357,618</p></td>
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">208,662</p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Less: Other income/(expenses), net</p></td>
<td valign="top" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">124,679</p></td>
<td valign="top" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(694,835)</p></td>
<td valign="top" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(106,794)</p></td>
<td valign="top" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">312,908</p></td>
<td valign="top" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(171,541)</p></td>
<td valign="top" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(26,366)</p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Operating income</p></td>
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">163,136</p></td>
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">113,630</p></td>
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">17,465</p></td>
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">236,849</p></td>
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1,529,159</p></td>
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">235,028</p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Add: share based compensation expense</p></td>
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">-</p></td>
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">106,152</p></td>
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">16,315</p></td>
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">-</p></td>
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">106,152</p></td>
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">16,315</p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Add: Expected discretionary payment to IRF investors</p></td>
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">-</p></td>
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">107,661</p></td>
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">16,547</p></td>
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">-</p></td>
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">107,661</p></td>
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">16,547</p></td>
</tr>
<tr style="height:13pt;">
<td valign="middle" >
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Non-GAAP adjusted operating income</p></td>
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">163,136</p></td>
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">327,443</p></td>
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">50,327</p></td>
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">236,849</p></td>
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1,742,972</p></td>
<td valign="bottom"  BGCOLOR="#FFFFFF">
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">267,890</p></td>
</tr>
</table></div>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;;font-family:Cambria;font-size:12pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><br /></p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-weight:bold;;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-weight:bold;;">&nbsp;</p>
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">PPDAI GROUP INC.</p>
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS</p>
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;"> (All amounts in thousands, except share data, or otherwise noted)</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-weight:bold;;font-size:11pt;">&nbsp;</p>
<div align="left">
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse;  margin-left:0.81%;width:669.55pt;;">
<tr>
<td style="width:232.85pt;"></td>
<td style="width:59.2pt;"></td>
<td style="width:11.8pt;"></td>
<td style="width:49.85pt;"></td>
<td style="width:12pt;"></td>
<td style="width:57.95pt;"></td>
<td style="width:14.15pt;"></td>
<td style="width:24.95pt;"></td>
<td style="width:1.15pt;"></td>
<td style="width:44.7pt;"></td>
<td style="width:14.15pt;"></td>
<td style="width:70.55pt;"></td>
<td style="width:21.1pt;"></td>
<td style="width:53.15pt;"></td>
<td style="width:2pt;"></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;">&nbsp;</p></td>
<td colspan="5" valign="bottom" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Three Months Ended December 31</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-weight:bold;;font-size:10pt;">&nbsp;</p></td>
<td colspan="6" valign="bottom" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">For the year Ended December 31,</p></td>
<td valign="top"  style="padding-left:0.5pt;padding-Right:0.5pt;">
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-weight:bold;;font-size:10pt;">&nbsp;</p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-weight:bold;;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">2016</p></td>
<td valign="bottom" >
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-weight:bold;;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">2017</p></td>
<td valign="bottom" >
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-weight:bold;;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">2017</p></td>
<td colspan="3" valign="bottom" >
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-weight:bold;;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">2016</p></td>
<td valign="bottom" >
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-weight:bold;;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">2017</p></td>
<td valign="bottom" >
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-weight:bold;;font-size:10pt;">&nbsp;</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">2017</p></td>
</tr>
<tr style="height:13pt;">
<td valign="bottom" >
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-weight:bold;;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">RMB</p></td>
<td valign="bottom" >
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-weight:bold;;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">RMB</p></td>
<td valign="bottom" >
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-weight:bold;;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">USD </p></td>
<td colspan="3" valign="bottom" >
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-weight:bold;;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">RMB</p></td>
<td valign="bottom" >
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-weight:bold;;font-size:10pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">RMB</p></td>
<td valign="bottom" >
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-weight:bold;;font-size:10pt;">&nbsp;</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">USD</p></td>
</tr>
<tr style="height:11pt;">
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:9pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Net cash provided by operating activities</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp; 228,503 </p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:9pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp; 410,389 </p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:9pt;">&nbsp;</p></td>
<td valign="top" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63,076 </p></td>
<td colspan="3" valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:9pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;534,048 </p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:9pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp; 1,864,540 </p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:9pt;">&nbsp;</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 286,573 </p></td>
</tr>
<tr style="height:11pt;">
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:9pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Net cash used in investing activities</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp; (178,014)</p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:9pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;(920,951)</p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:9pt;">&nbsp;</p></td>
<td valign="top" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(141,548)</p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:9pt;">&nbsp;</p></td>
<td colspan="3" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp; (663,059)</p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:9pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp; (2,495,575)</p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:9pt;">&nbsp;</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (383,564)</p></td>
</tr>
<tr style="height:11pt;">
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:9pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Net cash provided by financing activities</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29,433 </p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:9pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp; 1,701,581 </p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:9pt;">&nbsp;</p></td>
<td valign="top" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 261,528 </p></td>
<td colspan="3" valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:9pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp; 438,701 </p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:9pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,132,933 </p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:9pt;">&nbsp;</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;327,826 </p></td>
</tr>
<tr style="height:11pt;">
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:9pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Effect of exchange rate changes on cash and cash equivalents</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2,621 </p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:9pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14,888)</p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:9pt;">&nbsp;</p></td>
<td valign="top" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2,288)</p></td>
<td colspan="3" valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:9pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2,493 </p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:9pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15,445)</p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:9pt;">&nbsp;</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2,372)</p></td>
</tr>
<tr style="height:11pt;">
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:9pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Net increase/(decrease) in cash and cash equivalents</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 82,543 </p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:9pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;1,176,131 </p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:9pt;">&nbsp;</p></td>
<td valign="top" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180,768 </p></td>
<td colspan="3" valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:9pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;312,183 </p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:9pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp; 1,486,453 </p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:9pt;">&nbsp;</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 228,463 </p></td>
</tr>
<tr style="height:11pt;">
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:9pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Cash and cash equivalents at beginning of period</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp; 322,135 </p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:9pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp; 715,000 </p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:9pt;">&nbsp;</p></td>
<td valign="top" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109,893 </p></td>
<td colspan="3" valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:9pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 92,495 </p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:9pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;404,678 </p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:9pt;">&nbsp;</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62,198 </p></td>
</tr>
<tr style="height:11pt;">
<td valign="bottom" >
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:9pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Cash and cash equivalents at end of period</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;404,678 </p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:9pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;1,891,131</p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:9pt;">&nbsp;</p></td>
<td valign="top" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290,661 </p></td>
<td colspan="3" valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:9pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;404,678 </p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:9pt;">&nbsp;</p></td>
<td valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,891,131 </p></td>
<td valign="bottom" >
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:9pt;">&nbsp;</p></td>
<td colspan="2" valign="bottom" >
<p style="text-align:right;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:9pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 290,661 </p></td>
</tr>
</table></div>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-weight:bold;;">&nbsp;</p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p></body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>ppdf-ex992_6.htm
<DESCRIPTION>EX-99.2
<TEXT>
<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd">
<html>
<head>
<title>
ppdf-ex992_6.htm
</title>
</head>
<!-- NG Converter v4.0.8.21 -->
<body>

<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10.5pt;font-style:normal;text-transform:none;font-variant: normal;">Exhibit 99.2</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10.5pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">PPDAI Group Inc. Announces up to US$60 Million Share Repurchase Program</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-weight:bold;;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">SHANGHAI, March 21, 2018 /PRNewswire/ &#8211; PPDAI Group Inc. (&#8220;PPDAI,&#8221; &#8220;Paipaidai,&#8221; or the &#8220;Company&#8221;) (NYSE: PPDF), a leading online consumer finance marketplace in China, today announced that effective March 21, 2018, the board of directors of the Company (the &#8220;Board&#8221;) approved a share repurchase program whereby PPDAI is authorized to repurchase its own Class A ordinary shares in the form of American depositary shares (&#8220;ADS&#8221;) with an aggregate value of up to US$60 million during the next twelve-month period.</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Mr. Jun Zhang, Chairman and Chief Executive Officer of PPDAI, said, &#8220;The Board&#8217;s authorization of a share repurchase program reflects our continued efforts to maximize shareholders value, and we are proud that our strong cash generating ability allows us to hold true to our commitment. With the enormous demand driven by the rapid transformation of China&#8217;s economy and our leadership position in the market, we remain confident in the health and long-term outlook of the Company.&#8221; </p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The proposed share repurchase may be effected on the open market at prevailing market prices, depending on a number of factors, including, but not limited to, share price, trading volume and general market conditions, along with PPDAI&#8217;s working capital requirements, general business conditions and other factors, as well as subject to applicable rules of Rule 10b5-1 and/or Rule 10b-18 under the Securities Exchange Act of 1934, as amended. PPDAI plans to fund the repurchases out of its existing cash balance or future cash provided by operating activities.</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Safe Harbor Statement</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a name="_AEIOULastRenderedPageBreakAEIOU2"></a>This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section&#160;21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "target," "confident" and similar statements. Such statements are based upon management's current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's control. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results to differ materially from those contained in any such statements. Potential risks and uncertainties include, but are not limited to, uncertainties as to the Company's ability to attract and retain borrowers and investors on its marketplace, its ability to increase volume of loans facilitated through the Company's marketplace, its ability to introduce new loan products and platform enhancements, its ability to compete effectively, laws, regulations and governmental policies relating to the online consumer finance industry in China, general economic conditions in China, and the Company's ability to meet the standards necessary to </p>
<p style="margin-top:12pt;text-align:justify;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10.5pt;">&nbsp;</p>
<hr style="page-break-after:always;width:100%;">
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10.5pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">maintain listing of its ADSs on the NYSE, including its ability to cure any non-compliance with the NYSE's continued listing criteria. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and PPDAI does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.</font></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">About PPDAI Group Inc.</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">PPDAI is a leading online consumer finance marketplace in China with strong brand recognition. Launched in 2007, the Company is the first online consumer finance marketplace in China connecting borrowers and investors. As a pioneer in China&#8217;s online consumer finance marketplace, the Company benefits from both its early-mover advantages and the invaluable data and experience accumulated throughout multiple complete loan lifecycles. The Company&#8217;s platform, empowered by its proprietary, cutting-edge technologies, features a highly automated loan transaction process, which enables a superior user experience, as evidenced by the rapid growth of the Company&#8217;s user base and loan origination volume. As of December 31, 2017, the Company had over 65 million cumulative registered users.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">For more information, please visit <font style="text-decoration:underline;">http://ir.ppdai.com</font>.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">For investor and media inquiries, please contact: </p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In China:<br />PPDAI Group Inc.<br />Sally Huo / Jimmy Tan<br />Tel: +86 (21) 8030 3200-8601<br />E-mail:&#160;ir@ppdai.com</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Piacente Group, Inc.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Ross Warner</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Tel: +86 (10) 5730-6200</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">E-mail: paipaidai@tpg-ir.com </p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In the United States:</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Piacente Group, Inc.&nbsp;&nbsp; </p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Alan Wang</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Tel: +1-212-481-2050</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">E-mail: paipaidai@tpg-ir.com</p>
<p style="text-align:left;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:12pt;">&nbsp;</p>
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-size:7.5pt;font-family:Times New Roman;">&nbsp;</p></body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>4
<FILENAME>g2018032114562324522777.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g2018032114562324522777.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0D)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1" $S C\# 2(  A$! Q$!_\0
M'P   04! 0$! 0$           $" P0%!@<("0H+_\0 M1   @$# P($ P4%
M! 0   %] 0(#  01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T? D,V)R@@D*
M%A<8&1HE)B<H*2HT-38W.#DZ0T1%1D=(24I35%565UA96F-D969G:&EJ<W1U
M=G=X>7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&
MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0 'P$  P$! 0$!
M 0$! 0        $" P0%!@<("0H+_\0 M1$  @$"! 0#! <%! 0  0)W  $"
M Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O 58G+1"A8D-.$E\1<8&1HF
M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$
MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4
MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H # ,!  (1 Q$ /P#W:** 6R.\
M<?W 2Q4>E*OV-_N^0W /&#P>GYU#<VIO=)$"MM+*A!/?!!Q^.,51_L2X\Z*X
M%ROVA2I9B"=WY^@P!]* -C[/#_SQC_[Y%'V>'_GC'_WR*DHH C^SP_\ /&/_
M +Y%'V>'_GC'_P!\BI** (_L\/\ SQC_ .^11]GA_P">,?\ WR*DHH C^SP_
M\\8_^^11]GA_YXQ_]\BI** (_L\/_/&/_OD4?9X?^>,?_?(J2B@"/[/#_P \
M8_\ OD4?9X?^>,?_ 'R*DHH C^SP_P#/&/\ [Y%'V>'_ )XQ_P#?(J2B@"/[
M/#_SQC_[Y%'V>'_GC'_WR*DHH C^SP_\\8_^^11]GA_YXQ_]\BI** (_L\/_
M #QC_P"^11]GA_YXQ_\ ?(J2B@"/[/#_ ,\8_P#OD4?9X?\ GC'_ -\BI**
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M#HK*<JPR#2T %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444
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M 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 444A(52S$
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M>O\ 3'&E'[<W\OZ1QT/B'Q;>D&6[T_3D/]Z/S'_!1G]:@O/#^I:P<W&K:M?
M_P /V;RX_P MV/TKTR&TM[<8A@CC_P!U *6>Y@M8C+<31PQCJ\C!0/Q-9>SJ
MR=YR7W?TOP-;44K*+?J_\O\ ,\_TSPKKM@H%E*MHOJ(XE;\\$UO0:#KN09]>
MF_X"<_T%17?Q&\/13&WLII]4N<X$.GPM,<_4<?K5.37_ !GJ*;K'0;32+<\?
M:-6N/F'OL7I^-5RMZ.3?I9?^DI%J+CJH)>O_  6S<.@7+IMDUJ]/T.*YS6;+
MPWI.3JWBAX&S]PRH7_[Y )K.O(;.4$^*OB*95(^:UL)5@3Z87+&HK3Q#\,O#
M[[M-L?M,P_Y:I:M*Y/\ O/\ XU4<,M^2_KK^=QNNMN=^BT_R_(JJ]I?MCP]I
M?B;4SG G:06T/_?3#^E6X?!/C'4&S/J<>DPG^!;F2XD ^O JQ-\7HVRMAH%U
M)CH9I5C'Y#-5'^(_B&X'[NVTJR4]#)YLQ'_?( K=2E'3F2^:7Y$.G)ZJFWYM
M-_GH;5O\+-/=?^)MJ^K:BQZA[@HA_P" C_&K]O\ #3PK:X\K3BI'?S6S^>:Y
M!O$VMW(_TCQ3+"#_  V6DC^;FF;[6[&+O6?%M]G^%9DA4_@IJH1:=T_P9A4J
M.W+-I+LVE^%SNIO!_AF!=UQ JJ!UEN7 _5JRKJ/X;V'_ !\W.F*?3[26/Y!C
M6';:!H$AW#P=J5\W]ZZN'?\ GQ7066GK;+_H/@2S@QT+^6#_ "S6O-/K)_?;
M]3F<J?1+Y*_Y(R7UKX;!MMM8->'_ *=[.5_Z4X:CHDHSI_P]U6X]"UD(Q^;&
MND-QXK";;?2;"%>P\T?XU2E/CR3A8K5 ?[KI_4&DZEMY?BW^148N7PQ_)?FS
M,5=3G'^A_#6TB]#=W$2_H!4R:1XMF&$T'PI8CU=&E(_(4KZ=X[D;YYD(]%NM
MO\A3/^$?\22<SV4$Q[^;J,AS^52ZZ[_@_P!318>J^B^<H_I<4^&_$(/^E>(=
M#LAZ6^F1\?BU5Y/#UDIQ?^/+E_\ 9MQ%%_Z"#5M/#^L(>/#VB$^LEQ(W\ZO1
M67B2'_5:)X=3Z;O\*GZPO/[A_5*O>*_[>O\ Y'/_ /",^!6/^D:SJ-P3U\RX
MD.?R45-'X=^&\?6W>8C^^\S5T0_X3'M9Z"/;=)Q3L^,QTM="_P"^I*7UA>?W
M_P# ']3J?S0_KYF-%I_P[A.4TBW/N;9V_F*N1S^"HAB/1K?Z#3O_ +&KN_QJ
M/^7?0_\ ON2E\SQM_P ^^B?]]R4O;1[/[_\ @#^J5?YX_P!?,J_;/"?4:*I^
MFG?_ %J?;W/AIKJ(1:$ZR%QL;[!C!SP<XJ?S/&W_ #[Z)_WW)3X9/&/GQ^=!
MHWE;AOVO)G;WQ[T>W79_>'U2INYQ_KYG1T445 PJO??\><GX?S%6*KWW_'G)
M^'\Q0!);_P#'M%_N#^5257$R6]@LLAPJQ@GWXZ?6J<&NV\TL49BEC:549=^!
M][MU[?\ ZJ -2BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ****
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MF?M_C"4YCT6PA7TFNBQ_\=%+GQI)_!HL7XR-72T4<_D@N<S]D\9.>=4TN/\
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M0_=6]I!C^ZBK3WU.PC^_>6Z_60547PWI"_\ +FK'U9B?ZU8CT?38ON6-N/\
MMF#47K/M][_R%J0MXATE.M_$?]TD_P JC/B;3/X'ED_W(6/]*TEM;=/N01+]
M$ J0 #H,46J]U]W_  0U,C_A((W_ -5I^H2?2 C^=']LWC?ZO1+P_P"\56MB
MBCDG_-^ 69C_ &_67^YHX7_?N%H\[Q _2TLH_P#>E8_RK8HH]F^LG^'^06,?
MR_$+];BPC^B,:/L6MO\ ?U>-?]RW']:V**/8KJW]["QC_P!D7[??UNY_X BK
M1_8.[_6ZGJ#_ /;;']*V**/8P_IL+(Q_^$:L#_K'N9/]^=C3U\-Z0.MFK'U9
MF/\ 6M6BCV%+^5!9%!-$TN/[MA;_ (H#5A;&T3[EK OTC%3T5:A%;(=AGDQ?
M\\T_[Y%'E1C^!?RI]%.R ;Y:?W%_*EVK_='Y4M%,!, = /RI<#THHH ****
M"J]]_P ><GX?S%6*KWW_ !YR?A_,4 26_P#Q[1?[@_E4E1V__'M%_N#^524
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M %%%% !1110 4444 %%%% !1110 4444 %5[[_CSD_#^8JQ5>^_X\Y/P_F*
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M:!$5551@*HP!3J*F4G+<TA3C#X4%%%%26%%%% !1110 4444 %%%% !1110
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M "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH
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M & .@I:**S-PHHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@
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M %%%% !1110 4444 %%%% !1110 57OO^/.3\/YBK%5[[_CSD_#^8H DM_\
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MEG/J3W-/L+"WTVT2VM8PD:_F3ZD]S5FFVDN2&PH4W?GGO^7H%%%%2:A1110
M4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1
M110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%
M% !1110 4444 %%%% !1110 57OO^/.3\/YBK%5[[_CSD_#^8H DM_\ CVB_
MW!_*I*CM_P#CVB_W!_*I* "BBB@ HHHH AN[J&RM)KJX<)#"A=V/8"OG35]7
MF\0^(I]2D0NSOB"(\XQPH^@X^IKT+XL^(S'!%H%JV9)L27&#T7^%3]3S^ K&
M\">"Y]1D6[GW1VZ]9,<GV7W_ )5I=QCRQW?X+O\ Y'/.:Y[VO;9=W_DC2\'>
M&9V$FQB+B7B[O>IC!ZQH?[Q[GMT'OZ?9V=OI]JEM;1B.)!@ ?S/O3K:VAL[=
M+>WC6.)!A57M4M1I&/)'8N$&GSSUD_ZT"BBBD:A1110 4444 %%%% !1110
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M^7&@"JBH % [#BG>7)_SV;_OD4-W(ITU!>9+147ER?\ /9O^^11Y<G_/9O\
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M3H22,^W6N@7)4%A@XY%+10 4444 %4]5EE@TJYE@D*2I&2A";CGL,>_2KE%
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M )Z?^.BBB@ ^W7/_ #T_\=%'VZY_YZ?^.BBB@ ^W7/\ ST_\=%'VZY_YZ?\
MCHHHH /MUS_ST_\ '11]NN?^>G_CHHHH /MUS_ST_P#'11]NN?\ GI_XZ***
M #[=<_\ /3_QT4?;KG_GI_XZ*** #[=<_P#/3_QT4?;KG_GI_P".BBB@ ^W7
M/_/3_P =%'VZY_YZ?^.BBB@ ^W7/_/3_ ,=%'VZY_P">G_CHHHH /MUS_P ]
M/_'11]NN?^>G_CHHHH /MUS_ ,]/_'11]NN?^>G_ (Z*** #[=<_\]/_ !T4
D?;KG_GI_XZ*** #[=<_\]/\ QT4V2[GDC*N^5/48%%% '__9

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