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E-Commerce China Dangdang Inc. (NASDAQ:DANG)

Friday, November 26, 2010

For the Year Ended December 31,												For the Nine Months Ended September 30,
	2007			2008			2009						2009			2010
	RMB			RMB			RMB			US$			RMB			RMB			US$
	(in thousands, except for share and per share data)

Summary Consolidated Statement of Operations Data:
Net revenues:
Product revenue
Media		409,023			697,681			1,297,120			193,875			915,397			1,322,065			197,603
General merchandise		36,894			66,829			152,976			22,865			90,908			236,162			35,298

		445,917			764,510			1,450,096			216,740			1,006,305			1,558,227			232,901
Other revenue		947			1,550			7,556			1,129			3,315			12,550			1,876

Total net revenues		446,864			766,060			1,457,652			217,869			1,009,620			1,570,777			234,777
Cost of revenues		(365,284	)		(638,817	)		(1,129,961	)		(168,890	)		(795,380	)		(1,223,963	)		(182,940	)

Gross profit		81,580			127,243			327,691			48,979			214,240			346,814			51,837
Operating expenses⁽¹⁾:
Fulfillment		(85,802	)		(120,837	)		(201,270	)		(30,083	)		(143,274	)		(198,961	)		(29,738	)
Marketing		(35,503	)		(40,766	)		(38,473	)		(5,750	)		(27,290	)		(55,485	)		(8,293	)
Technology and content		(17,202	)		(26,436	)		(38,989	)		(5,828	)		(26,917	)		(44,151	)		(6,599	)
General and administrative		(20,931	)		(26,991	)		(38,021	)		(5,683	)		(26,255	)		(46,583	)		(6,963	)

Income (loss) from operations		(77,858	)		(87,787	)		10,938			1,635			(9,496	)		1,634			244

Income (loss) before income taxes		(70,511	)		(81,757	)		16,916			2,529			(5,233	)		5,567			832
Net income (loss)		(70,511	)		(81,757	)		16,916			2,529			(5,233	)		15,980			2,388

Deemed dividend on Series C convertible preferred shares		—			—			—			—			—			(1,779	)		(266	)

Net (loss) income attributable to common shareholders		(70,511	)		(81,757	)		16,916			2,529			(5,233	)		14,201			2,122

Loss per common share:
Basic		(0.40	)		(0.47	)		—	⁽²⁾		—	⁽²⁾		(0.03	)		—⁽²	⁾		—⁽²	⁾
Diluted		(0.40	)		(0.47	)		—	⁽²⁾		—	⁽²⁾		(0.03	)		—⁽²	⁾		—⁽²	⁾
Weighted average number of common shares used in per share calculations:
Basic		175,644,260			175,644,260			175,644,260			175,644,260			175,644,260			175,764,040			175,764,040
Diluted		175,644,260			175,644,260			175,644,260			175,644,260			175,644,260			175,764,040			175,764,040
Pro forma earnings per common share—unaudited:
Basic																	0.05			0.01
Diluted																	0.04			0.01

For the Year Ended December 31,

For the Nine Months Ended September 30,

2007

2008

2009

2010

RMB

US$

RMB

US$

(in thousands, except for share and per share data)

Weighted average number of common shares used in pro forma per share calculations—unaudited:

Basic

313,313,990

Diluted

332,956,840

Notes:


(1)		Share-based compensation expenses were allocated in operating expenses as follows:


	For the Year Ended December 31,								For the Nine Months Ended September 30,
	2007		2008		2009				2009		2010
	RMB		RMB		RMB		US$		RMB		RMB		US$
	(in thousands)

Fulfillment		517		469		764		114		556		784		117
Marketing		111		105		131		20		95		161		24
Technology and content		266		270		479		71		329		573		86
General and administrative		2,746		1,519		2,623		392		1,840		6,138		917

Total share-based compensation expenses		3,640		2,363		3,997		597		2,820		7,656		1,144

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