2015

2015 1


2015

GDP 7% GDP

O2O

2014 5.1%
0.03 2.08%

2015 2




O2O

B2C B2B



2015 208
206

2015 3


................................................................................................................................................... 5

...................................................................................................................... 12

........................................................................................................................ 30

...................................................................................................................................... 44

........................................................................................................................ 51

...................................................................................................................................... 62

2014 ................................................................................................................... 66

2015 4


1.1

2014 50%

2015

2014 2015

2015 5


2015 2005 2015

2.0%

2025

2014

2015 6
 2.0

2014 4

2014 11 2015 10 18

1.2.

2014
7.4% 1990 7.0%

2015 7


1 - 1VAI%

13.0

12.0

11.0

10.0

9.0

8.0

7.0

6.0

5.0

VAI

CPI

1 - 2%

% %
100.0% 100.0%

80.0% 80.0%

60.0% 60.0%

40.0% 40.0%

20.0% 20.0%

0.0% 0.0%
19951997 1999 20012003 20052007 2009 20112013 1995 1997 1999 2001 2003 2005 2007 2009 2011 2013

2015 8
 50%

1-3

120.00%

100.00%

80.00%

60.00%

40.00%

20.00%

0.00%

2011 2013

+
+

10% 5%2014 80%

150%

1.3

2013 8 29
6

2015 9


5 2013 10 1

2014 12

2014 2

9610

9610

3 12

2015 3

4 17

22

2015 6 20
(201546 )

12 +
2014 2015
2015

2015 10


2015 5 7

2015 11


2.1

2014
262,394 12.0% 5
2010 21% 2014 5.1%,
2010 11% 2014
8% 2010 9.8% 2014
4.2%2014 23%7%
2 - 1

300,000 18.3% 20.0%

17.1%

250,000
14.3%
13.1% 15.0%
200,000 12.0%

150,000 10.0%

100,000
5.0%
50,000

0 0.0%
2010 2011 2012 2013 2014

: Wind,

2.3
7.0% 7.7%
2.7%1
2013

1 2013 1.9%, 10.2% -0.9%

2015 12
2014 0.8% 1.2%

2 - 2

25000 0.12
11.0% 20,451.7 20,963.8
9.1% 18,927.6 0.1
20000 17,269.8 16,736.6 9.0%
8.6%
8.0% 0.08
15000
0.06
10000
0.04

5000
0.02

0 0
2010 2011 2012 2013 2014

2 - 3

45000.0 10.0%
38893.6 7.7%
40000.0 36356.6 8.0%
35000.0 32519.0
30189.6
7.0% 6.0%
30000.0
25000.0 4.0%

20000.0 2.0%
15000.0
8369.5 0.0%
8139.8
10000.0
-2.0%
5000.0
0.0 -2.7% -4.0%

2013 2014 2014

2015 13
 2 - 4
0.0%
2012 2013 2014
-0.2%

-0.4%

-0.6%

-0.8% -0.8% -0.8%

-1.0%

-1.2% -1.2%

-1.4%

: wind,

2014 0.2
16.4% 0.03 2.08%
206 52
27% 20% 31 16% 144
39 20% 31

2 - 5 2 - 6

20%
16% 20%

27% 22%
27%
10%-
20%
18% 10%-20%
19%

0%-10% 0%-10%

39% 32%

2015 14


2014 104 51%54 26%

2-5 48 23% 6

265 2
8

16.6% 4.8%

2 - 7

30.0
26.5
25.2
25.0
20.4
20.0
16.6
14.5
15.0
9.6
10.0
5.7
4.8
5.0 3.4

-
% %

++

2014 60%

2015 15


2 -8

30.0
26.1
25.0

20.0
14.7
15.0 13.0

10.0

4.0
5.0

-
% %

20132014
6.7% 3.6%

1.7%0.5%-1.2%-3.3% - 7-11

2015 16


2 - 9 20132014

8.0%
6.7%

6.0%

3.6%
4.0%

1.7%
2.0%
0.5%

0.0%

-2.0% -1.2%

-4.0% -3.3%
:

2014
Merger Market 2013
4.5 4.73
4.97 49.8%

2014

O2O
2014 3 53.7

9.9% 37.1

25%

2014 5

2015 17
 TESCO TESCO
80%TESCO
20%Tesco 135

12 22 1.4
( 14 70%
30%

2014 2011-2013

2014 5 11
100% 15.7

2 - 10

14000 39

12000

10000

8000 36

6000
33

4000 13
24
2000 9 13 48
32 7 12 3
0
2011 2012 2013 2014

2.2

2014

2014 2014

2015 18
 2.81 48.7% 10.7
50%2014
10.71% 10%

2 -11

45000 80.0%

40000 70.0%

35000
60.0%
30000
50.0%
25000
40.0%
20000
30.0%
15000
20.0%
10000

5000 10.0%

0 0.0%
2011 2012 2013 2014 2015e

2014
() 201
2013 35
474.29
12
146

118
75%(
- )

2015 7 13
40

2015 19


GPS

O2O

2014 O2O

2014 O2O 3000 2015

O2O 4655.4 2014 61
1.6%
2015 283 43

2015 20
 2 - 12

150 10.00%

8.00%
100
6.00%

4.00%
50
2.00%

0 0.00%
2010 2011 2012 2013 2014 2015e 2016e

O2O

BAT()
O2O

O2O
O2O

2 - 1 O2O

O2O
2010 2013

Uitox 2014 1
16

O2O 300

N+1 N
WEB WEB
WAP APP
24

2015 21
 O2O

;

O2O 1+1+N
++

O2O 12

5 11
O2O

3.5
-

O2O :

O2O

2015 22


O2O
O2O O2O
O2O O2O

2 - 13 ""

O2OO2O O2O O2OO2O O2O

O2O

O2O

2014 4.2 33.3%

2014
85.4% 14.6%

2015 23
 2 - 15 2 - 16

6
100%

5
80%
4
60%
3
40%
2
20%
1
0%
0 2011 2012 2013 2014 2015e
2011 2012 2013 2014 2015e

2 - 2

2014


Zulily Zulily A 1150
11.56 Zulily

Farmaline
3 Farmaline

2013 7 26

7

2015 24


B2C B2B

2014 B2B 93.5%

B2C B2B
B2B B2C
B2B B2C

2 - 17 2010-2015 B2B B2C

100% 2.20% 2.80% 4.10% 4.60% 6.50% 8.70%

80%

60%

97.80% 97.20% 95.90% 94.40% 93.50% 91.30%

40%

20%

0%
2010 2011 2012 2013 2014 2015e

B2B B2C

5000 20 80%

2015 25
 2 - 3

2014 5 ShopRunner



5 5
1688.com 18

2012 4 15


SKU

2014 8
2014 11


8000
+

2014 2015
4 O2O
5 3 7
1 e (ewj shop) 500
7 21

O2O 2014

2015 26


2 - 18 2014 B2C

1.30% 0.70%
1.30%
1.40%
7.60%
1.70%
2.90%
3.20%

18.60%
61.40%

2014 12
9285 2013 2731 240%
2015Q1 3623.4
168.3% 47.8%
2015

2015

1
2014 2000 250%

2015 27
 2 - 19 2011 -2016

30000 600%

25000 496% 500%

20000 400%

15000 295% 300%

240%
10000 200%

5000 100%
84.30%
42.10%
0 0%
2011 2012 2013 2014 2015e 2016e

2 - 20 PC

100%
90%
25.9% 30.4% 34.0%
80% 40.0%
47.8%
70%
60%
50%
40%
74.1% 69.6% 66.0%
30% 60.0%
52.2%
20%
10%
0%
2014Q1 2014Q2 2014Q3 2014Q4 2015Q1

PC

2015Q1
84.5% 5.2%
2.8% 2014Q4
4.2% 2015Q1 4.6%

2015 28
 2.5

3.8 3

QQ 1

App

App

2 - 21

100% 4.7% 4.2% 4.2% 4.6%

5.2%
4.6% 4.8% 5.7% 5.3% 5.7%
3.3% 4.5% 4.6% 4.5% 5.2%
80%

60%

87.4% 86.5% 84.5% 86.0% 84.5%

40%

20%

0%
2014Q1 2014Q2 2014Q3 2014Q4 2015Q1e

:: 1

2015 29


3.1

103
100 29 28% 50-100
14% 50 58%

3 - 1

10
100 20%
28%

50-100
14% 10-50
38%

103 2014 113.6 2.6%

4.5% 1.4% 8.6%
0.5%

2015 30
 3 - 2

120.0 110.7 113.6 10.0%

8.6%
100.0 8.0%
79.7
80.0 73.4 6.0%

60.0 4.0%

2.6%
40.0 2.0%
1.4% -0.5%

20.0 10.2 10.2 0.0%

4.3 4.4
- -2.0%

2013 2014

54.4%
31.1% 14.5% 0.1
0.7 0.6

3 - 3

100%
15.1% 14.5%
80%

60% 54.5% 54.4%

40%

20%
30.4% 31.1%
0%
2013 2014

2014 60.2%
20.4%

2015 31
 3 - 4

30000 27,118.8 12.0%

11.2% 25,407.9
25000 10.0%
9.2%
20000 8.0%
15,468.3 7.4%
14,160.4
15000 6.7% 6.0%

10000 7,013.2 7,219.9 4.0%

2.9%
5000 2.0%
0.4%
0 0.0%

2013 2014 2013 2014

37%
3757 0.9% 0.2%

42%
6.4%

3.2

6000
6000

25
25 14 11
1.1 6000 2.3
2.6 0.8 6.9

2015 32


2014 836
1078

3 - 5

3.5 3.3% 3.2 3.3 4.0%

3.0 2.5 2.6 3.0%
3.4%
2.5 2.2 2.2
1.9% 2.0%
2.0
1.0%
1.5 1.1 1.1
0.0%
1.0
0.5 -0.9% -1.0%

- -2.0%

2013 2014

2014
3.5%

3 - 1

// (//
2014 2.4 1.2 0.9
2013 2.3 1.2 0.9
2014 1.4% 3.5% 0%

2014 84.9 2013 79.8 6.4%

2013 0.9% 2011 2012 13.0%
2013

2015 33
 3 - 6

16.0%

13.5% 13.6%
12.0%

9.0%
8.0%

4.0%

0.9%
0.0%
2010-2011 2011-2012 2012-2013 2013-2014

2014 7.8%
2.6%
7.2%

3 - 2

(
2014 7.8% 598.8 1,101.7 315.9
2013 7.6% 575.0 1,028.2 310.2
2014 2.6% 4.1% 7.2% 1.8%

3 - 7

100%
16.2% 15.6%
2012-2013 2013-2014
-2.2% 1.8%
53.8% 54.7%

6.4% 7.2%
30.1% 29.7%
0%
2013 2014 1.1% 4.1%

2015 34


16.4% 2013 15.6%

8.3% 24.6% 16.2%

3 - 8

30.0

20.0

10.0

0.0
1

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

64% 2013 63% 1% 36

2013 1

6000-9999 10000-14999 15000

3.3 6000-
9999 4.9%
4.1%

3 - 3

2014 47,679 17,455 300 31,527

15000 2013 45,934 16,821 299 31,585

2014 3.8% 3.8% 0.4% -0.2%

2014 26,597 12,090 205 30,102

2015 35


(

10000-14999 2013 26,221 12,190 201 28,738

2014 1.4% -0.8% 1.8% 4.7%

2014 24,330 7,214 201 20,070

6000-9999 2013 23,197 7,048 210 19,270

2014 4.9% 2.4% -4.1% 4.2%

3.4 6000-9999 9.4%

-

2014 2.7 // 3.4

// 2.2 //

3.2%
2014

3 - 4

(//
(// (

2014 2.7 1.6 1.5
15000 2013 2.7 1.5 1.5
2014 1.1% 6.4% 4.9%
2014 2.2 1.3 1.0
10000-14999 2013 2.2 1.3 1.0
2014 2.3% -0.3% -3.2%
2014 3.4 1.2 0.7
6000-9999 2013 3.3 1.1 0.6

2014 2.5% 9.4% 1.8%

2015 36
 3 - 9 2014

4.0
3.4
3.5
3.0 2.7

2.5 2.2

2.0 1.6 1.5

1.3 1.2
1.5
1.0
1.0 0.7
0.5
-

(// (// (

15000 10000-14999 6000-9999

2014
15000 5.7% 10000-14999
6000-9999 7.8% 6.4%

3 - 10

120.0 9.0%
103.4
97.9 8.0%
7.8%
100.0
85.2 7.0%
82.6 80.0
76.6
80.0 6.4% 6.0%
5.7%
5.0%
60.0
4.0%

40.0 3.0%

2.0%
20.0
1.0%

0.0 0.0%
15000 10000-14999 6000-9999

2013 2014

2015 37

2014 15.4%17.1% 16.0%10000-
14999 15000
6000-9999

3 - 11

20.0% 4.0%
17.2% 17.1% 3.8%
15.4% 15.4% 16.0%
15.1%
16.0% 3.0%

12.0% 1.9% 2.0%

8.0% 1.0%

4.0% 0.0%
-0.5%
0.0% -1.0%
15000 10000-14999 6000-9999

2013 2014

3.3

6000
16 7 9 0.2
500 5600 0.6 0.1
2.2

2014 1.6% 3.3%

1.5% 3
1222

2015 38
 3 - 12

1.40 1.3 12.0%

1.2
10.1% 10.0%
1.20
8.0%
1.00
6.0%
0.80 4.0%
0.6 0.6 0.6 0.6
0.60 2.0%
1.5%
0.0%
0.40
-1.6% 0.2 0.2 -2.0%
0.20
-4.2% -4.0%
- -6.0%

2013 2014

2014 3.0%
2.7% 10.6%

3 - 5

// (//

2014 2.66 1.04 0.47

2013 2.74 1.01 0.52

2014 -3.0% 2.7% -10.6%

2014 48.1 2013 4.2%

0.3 4.4% 3.9%

4.2%

2015 39
 0.6

3 - 6

2014 6.8% 139.4 229.6 52.0

2013 6.5% 137.4 221.0 51.4

2014 4.4% 1.5% 3.9% 1.2%

3 - 13

100%
12.5% 12.3%
2012-2013 2013-2014
5.5% 1.2%
54.0% 54.6%

7.3% 3.9%
33.5% 33.1%

0% 3.5% 1.5%
2013 2014

12.7% 2013 14.6%

7.1% 17.4%
672 16.2%

3 - 14
20.0

15.0

10.0

5.0

0.0

2015 40


69% 2013 34 2013

3

500-999 1000-2999
3000

3000
5.4%

3 - 7

(
2014 9,882 4,322 74 18,464

3000 2013 10,062 4,212 78 18,662

2014 -1.8% 2.6% -5.4% -1.1%

2014 5,342 1,678 62 11,957

1000-2999 2013 5,413 1,678 65 9,801

2014 -1.3% 0.0% -3.6% 22.0%

2014 941 325 14 6,213

500-999 2013 959 325 14 5,650

2014 -1.9% 0.0% 0.0% 10.0%

3000 1000-2999
1000-2999 500-999

1000-2999 3000

2015 41
 3 - 8

(//
(// (

2014 2.3 1.3 0.5

3000 2013 2.4 1.3 0.5

2014 -4.3% 3.8% -0.7%

2014 3.2 0.9 0.4

1000-2999 2013 3.2 0.8 0.6

2014 -1.3% 2.4% -19.1%

2014 2.9 0.7 0.2

500-999 2013 2.9 0.7 0.2

2014 -1.9% -1.9% -10.8%

3 - 15

3.5 3.2
2.9
3.0

2.5 2.3

2.0
1.3
1.5
0.9
1.0 0.7
0.5 0.4
0.5 0.2
-

(// (// (

3000 1000-2999 500-999

3000
1000-2999

2015 42
 3 - 16

60.0 56.4 56.4 54.6 1.0%

0.0% 51.3
0.0%
50.0
-1.0%
40.0 36.9 35.6
-2.0%

30.0 -3.0%
-3.4%
-4.0%
20.0
-5.0%
10.0
-6.0% -6.0%

- -7.0%
3000 1000-2999 500-999

2013 2014

12.7%12.7% 13.2% 500-999

3000

3 - 17

16.0% 1.0% 1.5%

13.6% 13.2% 1.0%
14.0% 12.7% 13.0% 12.7%
12.5%
0.5%
12.0%
0.0%
10.0% -0.5%
8.0% -1.0%

6.0% -1.5%
-2.0%
4.0%
-2.6% -2.5%
2.0% -2.9% -3.0%
0.0% -3.5%
3000 1000-2999 500-999

2013 2014

2015 43


4.1
41 90%
100 10 22 54%10 -100
15 36% 100 -300 2 300
2

4 - 1

300
100-300
5%
5%

10
10-100
54%
36%

4.2 2014 6.0%

2.9% 5.3%

4 - 2

100.0 8.0%

80.0 6.0% 72.2 70.6 6.0%

5.3%
2.9% 4.0%
60.0 44.8 47.2
41.7 42.9
2.0%
40.0
0.0%
14.9 15.8
20.0 -2.0%
-2.2%
0.0 -4.0%

2013 2014 2014

2015 44


2014
2014 15.9%
7.6% 6.7%

1.6

4 - 3

45,000.0 18.0%
39809.0
40,000.0 15.9% 37003.9 16.0%

35,000.0 14.0%

30,000.0 12.0%

25,000.0 10.0%
19435.1
20,000.0 16763.6 8.0%
7.6%
6.7%
15,000.0 6.0%

10,000.0 6651.0 7097.2 4.0%

5,000.0 2.0%

0.0 0.0%

2013 2014 2014

4 - 4

100.0%
11.0% 10.7%

80.0%

60.0% 61.2% 60.0%

40.0%

20.0%
27.7% 29.3%

0.0%
2013 2014

83%2014 3.7%

2015 45


62% 2395
0.51%

13%

4.2
16 16
13 3 138
50 400 479 83 1632

1.3

2014 3.8%
5.2% 182

4 - 5

8.0 8.0%
7.2% 7.1
6.7
6.0%
3.8%
6.0
4.8 4.0%
4.6
2.0%
4.0 0.7%
2.5 2.7 0.0%

1.4 1.4 -2.0%

2.0
-4.0%
-5.2%
0.0 -6.0%

2013 2014 2014

3.1% 9.6% 3.2

2015 46
 4 - 1

// (//
2014 3.5 0.7 0.2

2013 3.4 0.7 0.2

2014 3.1% 9.6% -3.2%

2014 19.1 2013 17.4 10.1%

6.0% 5.2%
0.4% 46.9%
42.5% 10.6%

4 - 2

2014 11.9% 24.3 26.8 6.1

2013 11.8% 22.9 25.5 6.0

2014 1.0% 6.0% 5.2% -0.4%

4 - 6

100%
11.2% 10.6% 2012-2013 2013-2014
80%
-1.6% -0.4%
46.7% 46.9%
60%

40% 13.2% 5.2%

20% 42.1% 42.5%

0%
11.6% 6.0%
2013 2014

2015 47


23.3% 2013 21.1%

13.5%, 33.7%
90 16.2%

4 - 7

40.0

20.0

0.0

85% 2013 5% 29 2013

2

50-99 100-199 200

3.8%
200 100-19950-99

4 - 3

2014 749 480 9 6,567

200 2013 653 480 10 5,948

2014 14.6% 0.0% -10.0% 10.4%

2014 498 147 6.5 2,800

100-199 2013 471 147 6.9 2,625

2014 5.8% 0.0% -5.3% 6.6%

2014 358 67 6.0 1,439

2015 48


(

50-99 2013 352 64 6.1 1,357

2014 1.8% 3.3% -2.3% 6.0%

200 100-199
50-99

4 - 4

(//
(// (

2014 2.1 90.5 0.1
200 2013 2.1 77.1 0.2
2014 1.8% 17.4% -7.5%
2014 3.4 76.3 0.2
100-199 2013 3.2 68.3 0.2
2014 5.8% 11.7% -0.8%
2014 5.4 59.6 0.2
50-99 2013 5.5 57.2 0.3
2014 -1.5% 4.2% -4.0%

4 - 8 2014

6.0 5.4

5.0

4.0 3.4

3.0
2.1
2.0
0.9 0.8
1.0 0.6
0.1 0.2 0.2
0.0

// //

200 100-199 50-99

2015 49

100-199
16.4 18.2 , 10.5%50-99
15.1 16.6 9.9%

4 - 9 //

45.0 11.0%
38.5
40.0
35.3 10.5% 10.5%
35.0
30.0 10.0%
9.9%
25.0
18.2 9.5%
20.0 9.1% 16.4 16.6
15.1
15.0 9.0%
10.0
8.5%
5.0
0.0 8.0%
200 100-199 50-99

2013 2014 2014

50-99 24.6%100-199
200 23.4% 15.7%

4 - 10

30.0% 7.0% 8.0%

24.6% 7.0%
25.0% 23.0% 23.4% 23.0%
5.9%
6.0%
20.0%
5.0%
15.7%
14.8%
15.0% 4.0%

3.0%
10.0%
2.0%
5.0%
1.6% 1.0%

0.0% 0.0%
200 100-199 50-99

2013 2014 2014

2015 50


5.1
66
200 100 100-200 35 13
53% 20%18 200 27%
33

5 - 1

200-700

27%

100

53%
100-200

20%

66 2014 1.3%
4.2%

2015 51
 5 - 2

300 272.6 8.00%

261.2 6.8%
250 6.00%

4.00%
200
1.3% 2.00%
136.1 137.9
150 120.0 115.3
0.00%
81.3 86.8
100
-2.00%
50 -4.00%
-4.2% -3.9%
0 -6.00%

2013 2014 2014

2013 7.7% 18%

2.9%

10.4%,
2014 0.2%
5.8%, 0.8%

5 - 3

40,000.0 12.00%
10.4% 36,024.3
33,452.9 10.00%
35,000.0
7.7% 8.00%
30,000.0
6.00%
25,000.0 4.00%
20,000.0 2.00%
15,394.3
13,939.3 0.00%
15,000.0
9,563.7 9,009.7 -2.00%
10,000.0
-4.00%
5,000.0 -6.00%
-5.8%
0.0 -8.00%

2013 2014 2014

2015 52
 5 - 4

100.00%
17.9% 15.9%

57.6% 58.5%

24.5% 25.6%

0.00%
2013 2014

62.1%2014 2013 14.6%

16.3% 8.7%

4091
0.2%

78% 2.1%

5.2
20 11 9
3.6 11980 8.7
11.8 2.5 31

2014 4.8%
4.8% 4.2%

2015 53
 5 - 5

14 6.00%
12.4
11.8
12 4.00%
4.2%
10
2.00%
8
0.0% 0.00%
6 4.8 5.0
4.2 4.0
3.6 3.6 -2.00%
4

2 -4.8% -4.8% -4.00%

0 -6.00%

2013 2014 2014

2014

5 - 1

// (//
2014 3.4 301.2 2.0

2013 3.5 301.5 2.1

2014 -2.9% -0.1% -4.8%

2014 376.7 2013 362.2 4.0%

1.6
4.8%,

2015 54
 5 - 2

(
2014 4.8% 1906.8 2324.3 672.5
2013 4.4% 1648.1 2145.9 707.1
2014 8.2% 15.7% 8.3% -4.9%

5 - 6

100.0%
17.7%

19.5%
2012-2013 2013-2014
1.0% -4.9%
44.8% 43.2%

7.5% 8.3%
35.7% 39.1%

0.0%
2013 2014 0.7% 15.7%

16.0%, 2013
9.3%, 22.5%
1.6

5 - 7 2

25

20

15

10

0
1

10

11

12

13

14

15

16

17

2 17

2015 55


66% 2013 33 2013

1

10000-29999 30000

5.3 30000
5.0% 10000-29999
3.7% 30000 2.1%
10000-29999 10.8%

5 - 3

(
2014 171,212 52,112 562 84,050

30000 2013 180,201 52,112 574 83,554

2014 -5.0% 0.0% -2.1% 0.6%

2014 48,247 13,113 227 24,207

10000-29999 2013 50,109 13,158 255 22,209

2014 -3.7% -0.3% -10.8% 9.0%

30000
5.7% 3.8% 10000-29999

2014 30000
10000-
29999 203 10000-29999
30000 2

2015 56
 5 - 4

(//
(// (

2014 3.3 396.8 1.2

30000 2013 3.5 412.4 1.2

2014 -5.7% -3.8% 0.0%

2014 3.5 193.6 3.0

10000-29999 2013 3.4 176.8 3.3

2014 2.9% 9.5% -9.1%

5 - 8 2013

4.5
4.0
4.0
3.5
3.3
3.5
3.0
3.0
2.5
1.9
2.0
1.5 1.2

1.0
0.5
0.0

// //

30000 10000-29999

2014

30000 785.8 10000-29999

3

2015 57
 5 - 9

1000.0 5.6% 6.0%

760.2 785.8
800.0 5.0%

4.0%
600.0 3.4%
3.0%
400.0
229.0 241.8 2.0%
200.0 1.0%

0.0 0.0%
30000 10000-29999

2013 2014 2014

16.3%, 30000
1.3% 100000-29999 1.2%

5 - 10

20.0% 1.3% 1.5%

16.0% 16.2% 16.6% 16.4%
1.0%
16.0%

0.5%
12.0%
0.0%
8.0%
-0.5%

4.0%
-1.2% -1.0%

0.0% -1.5%
30000 10000-29999

2013 2014 2014

2015 58
5.3

14 14 8 6
12.1 2.6 60
20.6 1 135

2014 1.9%

5 - 11

25.0 12.0%
20.2 20.6
10.0%
20.0 10.5%
7.3% 8.0%
15.0 12.1 6.0%
11.0
9.6 9.5 9.1 9.8
10.0 4.0%
1.9%
2.0%
5.0 -0.3% 0.0%

0.0 -2.0%

2013 2014 2014

2014 1.5%3.9%
0.7%

5 - 5

// (//

2014 1.97 264.0 4.0

2013 2.00 275.0 4.1

2014 -1.5% -3.9% -0.7%

2015 59


2014 652.7 2013 717.9 65.2

28.5%
19.2% 13.4% 61.8%

5 - 6

2014 2.7% 989.7 3634.3 1641.9

2013 2.7% 770.3 3049.0 1448.1

2014 -0.2% 28.5% 19.2% 13.4%

5 - 12

100.0%

29.1% 27.9%
80.0%

60.0%

40.0% 61.3% 61.8%

20.0%

9.5% 10.3%
0.0%
2013 2014

14.0%, 9.3%,
24.4%
3

2015 60
 5 - 13

30

20

10

0
1 2 3 4 5 6 7 8 9 10 11 12 13 14

48% 2013 2 48
2013

2015 61


6.1
24
3C 100
15 100-1000 7 1000 2 23
1 24

6 - 1

1000-
2000
8%

100-
1000
29%
100
63%

14.1% 16.9%
7.5% 1.4%

2015 62
 6 - 2

200.0 179.7 182.3 16.9% 20.0%

148.7
150.0 120.4 127.2 15.0%
14.1% 112.0
100.0 10.0%
7.5%
50.0 5.0%
13.0 14.8
1.4%
- 0.0%

2013 2014

57.6%
10.1%

6 - 3

100%
7.9% 7.8%

80%
33.7% 34.6%

60%

40%

58.3% 57.6%
20%

0%
2013 2014

2015 63
 6 - 4

100,000.0 88,961.2 12.0%

83,916.3
10.1% 10.0%
80,000.0

8.0%
60,000.0 53,444.1
48,525.2
6.0% 6.0%
5.3%
40,000.0
4.0%

20,000.0 11,428.6 12,037.7

2.0%

- 0.0%

2013 2014 2014

24 12 32.7
/ 7.8%12

12 50.5%

6.2 3C
4 3C 2
2 4547 3107
7000 1.2 0.7 1.8

33 0.6%
19.0% 1.1% 1.2
5.8%

2015 64
 6 - 5

1.4 10%
1.2 1.2
1.2 5.8% 5%

1.0 1.1% 0%
-0.6%
0.8 -5%

0.6 0.5 0.5 0.5 -10%

0.4 0.5 0.4
0.4 -15%

0.2 -19.0% -20%

- -25%

2013 2014 2014

1.8% 13.7% 7.5%

6 - 1

// (//
2014 2.6 392.4 17.9
2013 2.6 345.3 16.7
2014 -1.8% 13.7% 7.5%

2014 1758.7 2013 5.2%

2013 22.0% 9.6% 11.0%

51.9% 38.3%

2015 65
 6 - 2

(
2014 5.3% 322.8 238.4 60.7
2013 5.0% 264.6 267.9 55.3
2014 4.6% 22.0% -11.0% 9.6%

6 - 6

100% 2012-2013 2013-2014
9.4% 9.8%
-38.4% 9.6%
80%
45.6% 38.3%
60%
-11.0% -11.0%
40%

45.0% 51.9%
20%
14.3% 22.0%
0%
2013 2014

10.1% 2013 9.8%

5.8% 16.0%
1205 16.2%

6 - 7

20.0

10.0

-
1 2 3 4

77% 4 97
2013 8

2015 66
2014

2015
2014
4 2014
2.1 20964 --
5.1% 107,366 4.2% 107366
31 9.8% 210 --
210 16.4% 0.2 31 --

16.4% --

2012 2014 30 23 2014

1.14 54% 23 6
1 16 6 1 8 1
10
6

2014 6.9%

2013 2014 25.5% 22.6% 2012

13 12 4

2015 67


2014

() %
2014 2013 2012

1 2 3 14,348,266.00 7.6%

2 1 1 14,276,100.00 3.5%

3 3 4 10,400,000.00 3.6%

4 4 5 8,567,000.00 6.9%

5 5 6 7,237,558.00 0.2%

8 9 7 6,148,418.00 2.0%

10 10 8 5,070,000.00 1.0%

11 11 10 4,572,212.00 -2.1%

12 13 13 4,300,000.00 22.6%

13 12 11 3,768,000.00 -4.6%

14 15 14 3,400,003.00 10.8%

15 19 19 3,232,232.00 14.3%

16 18 16 3,221,803.00 9.9%

17 16 17 3,213,628.00 6.5%

18 20 15 3,035,023.65 10.1%

19 17 12 2,938,187.00 -2.1%

20 22 20 2,790,000.00 5.7%

23 25 23 2,338,992.00 6.2%

24 24 22 2,307,900.00 0.9%

25 26 27 2,306,100.00 5.0%

27 28 26 2,170,674.00 4.8%

28 23 21 2,166,596.00 -8.4%

29 21 18 2,100,000.00 -21.1%

113,908,692.65 3.93%
:

2015 68


= /

=/

= /

=/+/2

2015 69
2014

2014 2014
% %


1 14348266 7.6% 1698 7.1%
2 * 14276100 3.5% 1696 4.3%
3 10400000 12.6% 4127 7.6%
3342400 -1.3% 2103 -0.3%
4 8567000 6.9% 304 15.2%
5 7237558 0.2% 411 1.0%
6 6392336 4.6% 638 11.0%
7 6175076 -10.3% 4325 -6.0%
8 6148418 2.0% 335 2.8%
9 * 5986000 1.2% 4400 -6.4%
10 5070000 1.0% 6600 10.0%
11 4572212 -2.1% 237 0.4%
12 * 4300000 22.6% 337 15.4%
13 * 3768000 -4.6% 200 3.1%
14 3400003 10.8% 98 -2.0%
15 3232232 14.3% 81 8.0%
16 3221803 9.9% 1037 2.1%
17 3213628 6.5% 102 8.5%
18 3035024 10.1% 572 12.2%
19 2938187 -2.1% 2566 -3.0%
20 2790000 5.7% 507 5.2%
21 2703795 27.6% 525 18.0%
22 2559996 65.2% 99 32.0%
23 2338992 6.2% 67 8.1%
24 2307900 0.9% 600 3.4%
25 2306100 6.6% 111 -1.8%
26 2196447 11.3% 565 3.3%
27 2170674 4.8% 879 -4.6%
28 2166596 -6.0% 28 3.7%
29 2100000 -21.1% 184 -2.6%
30 2094516 10.2% 608 1.2%
31 * 1944944 -4.2% 57 -1.7%
32 1890000 8.0% 81 11.0%

2015 70
33 1831852 0.8% 47 30.6%
34 * 1800000 16.1% 123 11.8%
35 1725746 -8.2% 29 7.4%
36 1720000 21.1% 226 24.9%
37 1713019 28.3% 23730 1.3%
38 1690279 12.1% 1484 1.3%
39 1670609 -0.4% 2160 -6.5%
40 1650301 -3.0% 110 -5.2%
41 1650000 5.1% 68 15.3%
42 1638966 8.3% 600 5.3%
43 * 1638136 14.0% 2088 23.3%
44 1600000 -2.1% 176 -7.4%
44 * 1600000 8.8% 145 3.6%
46 1544693 9.6% 37 5.7%
47 1492240 8.7% 49 -5.8%
48 * 1422535 3.5% 285 21.8%
49 1406160 3.0% 122 3.4%
50 1384886 -1.6% 18 5.9%
51 1378203 0.2% 77 0.0%
52 1328734 -0.9% 47 2.2%
53 1279645 -2.2% 117 -8.6%
54 1212121 -10.8% 19 18.8%
55 1168686 0.3% 2168 -8.9%
56 * 1150000 11.7% 2100 20.0%
57 1134911 -0.6% 27 -3.6%
58 1099365 71.1% 6390 14.5%
59 * 1076414 -5.4% 41 2.5%
60 1021956 24.4% 16 14.3%
61 988000 -5.7% 15000 7.1%
62 976537 11.4% 50 13.6%
63 * 966000 -14.0% 61 5.2%
64 910918 -5.5% 586 -10.4%
65 881249 6.6% 1577 8.0%
66 * 800760 -8.9% 15 50.0%
67 797876 11.5% 41 51.9%
68 * 797600 3.2% 228 8.6%
69 776480 -1.5% 11 0.0%
70 727178 0.1% 12 -14.3%

2015 71
71 715000 35.5% 8 60.0%
72 656037 17.8% 130 46.1%
73 651400 19.9% 267 19.2%
74 640000 30.6% 18 12.5%
75 611000 1.5% 175 2.9%
76 562070 17.0% 363 -5.0%
77 550116 6.1% 795 1.1%
78 533021 5.0% 44 0.0%
79 530500 5.3% 10 0.0%
80 525839 14.3% 431 0.9%
81 516000 11.0% 1600 14.3%
82 510370 5.2% 247 2.1%
83 507926 12.1% 273 -3.2%
84 502552 -0.3% 77 5.5%
85 487046 -5.2% 154 2.7%
86 486734 5.8% 1693 4.4%
87 438795 10.5% 135 -10.0%
88 437051 1.7% 155 8.4%
89 420000 13.5% 1281 20.4%
90 392016 -17.8% 6 0.0%
91 392012 4.3% 70 7.7%
92 390585 4.0% 2236 4.0%
93 380441 6.1% 1029 1.3%
94 355360 1.9% 1340 7.2%
95 330000 -7.0% 350 -1.1%
96 327624 -0.5% 99 3.1%
97 327500 -3.0% 78 -7.1%
98 * 323900 -1.4% 43 0.0%
99 318000 22.0% 56 1.8%
100 314799 15.4% 48 0.0%
209637552 5.1% 107366 4.2%

1.

2. *
3.

2015 72
4.

5.
2014
2735.76
2014 6 1
12 31
() 1



2014 7 31





768408

138 -5.1% 39
0%

2015 73


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2015 74


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