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Bitauto Holdings Limited (NYSE:BITA)

Saturday, November 20, 2010

Consolidated Statements	For the Year Ended December 31,												For the Nine Months Ended September 30,
of Comprehensive Income Data	2007			2008			2009						2009			2010
							RMB			$			RMB			RMB			$
	RMB			RMB
	(In thousands)

Continuing Operations
Revenue		127,699			238,978			293,313			43,840			195,684			299,252			44,728
Cost of revenue		(44,502	)		(74,224	)		(105,746	)		(15,805	)		(67,712	)		(98,241	)		(14,684	)

Gross profit		83,197			164,754			187,567			28,035			127,972			201,011			30,044
Selling and administrative expenses⁽¹⁾		(67,589	)		(99,951	)		(125,268	)		(18,723	)		(85,772	)		(145,368	)		(21,728	)
Product development expenses		(4,644	)		(14,437	)		(17,090	)		(2,554	)		(11,491	)		(20,976	)		(3,135	)

Operating profit		10,964			50,366			45,209			6,758			30,709			34,667			5,181
Other income		1,933			4,180			595			89			550			1,686			252
Other expenses		(43	)		(1,267	)		(1,168	)		(175	)		(934	)		(943	)		(141	)
Changes in fair value of derivative component of convertible preference shares		(155,202	)		50,295			(33,305	)		(4,978	)		(9,769	)		(806,934	)		(120,609	)
Changes in fair value of convertible promissory notes		—			(8,709	)		680			102			680			—			—
Interest income		743			636			373			56			309			404			60
Interest expense		—			—			—			—			—			(457	)		(68	)
Finance costs on convertible preference shares		(4,252	)		(10,748	)		(14,917	)		(2,230	)		(12,502	)		(8,037	)		(1,201	)

(Loss)/profit before tax from continuing operations		(145,857	)		84,753			(2,533	)		(378	)		9,043			(779,614	)		(116,526	)
Income tax expense		(127	)		(439	)		(3,503	)		(524	)		(2,480	)		(7,245	)		(1,083	)

(Loss)/profit from continuing operations		(145,984	)		84,314			(6,036	)		(902	)		6,563			(786,859	)		(117,609	)

(Loss)/profit for the year⁽²⁾		(174,416	)		36,416			(60,348	)		(9,020	)		(20,148	)		(838,169	)		(125,277	)
Total comprehensive (loss)/income⁽³⁾		(164,395	)		54,742			(60,150	)		(8,990	)		(19,994	)		(822,702	)		(122,966	)

(Loss)/profit per share from continuing operations attributable to ordinary shareholders
Basic		(6.86	)		3.16			(0.21	)		(0.03	)		0.23			(24.45	)		(3.65	)
Diluted		(6.86	)		1.64			(0.21	)		(0.03	)		0.15			(24.45	)		(3.65	)




Other Financial Data:
Non-GAAP profit from continuing operations⁽⁴⁾	15,613	54,270	41,798	6,248	28,373	33,425	4,996

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