0001341088 2014-01-01 2014-12-31 0001341088 2013-12-31 0001341088 vimc:GovernmentGrantsAndCashPledgedForLongtermBankLoansMember 2013-12-31 0001341088 vimc:GovernmentGrantsAndCashPledgedForLongtermBankLoansMember 2014-12-31 0001341088 vimc:CustomerDepositToDevelopRetailBusinessMember 2014-12-31 0001341088 2012-01-01 2012-12-31 0001341088 2013-01-01 2013-12-31 0001341088 2014-12-31 0001341088 us-gaap:UseRightsMember 2013-12-31 0001341088 us-gaap:UseRightsMember 2014-12-31 0001341088 us-gaap:UseRightsMember 2012-01-01 2012-12-31 0001341088 us-gaap:UseRightsMember 2013-01-01 2013-12-31 0001341088 us-gaap:UseRightsMember 2014-01-01 2014-12-31 0001341088 vimc:EquipmentAndOfficeFurnitureMember 2013-12-31 0001341088 vimc:EquipmentAndOfficeFurnitureMember 2014-12-31 0001341088 us-gaap:AssetsHeldUnderCapitalLeasesMember 2013-12-31 0001341088 us-gaap:AssetsHeldUnderCapitalLeasesMember 2014-12-31 0001341088 us-gaap:LeaseholdImprovementsMember 2013-12-31 0001341088 us-gaap:LeaseholdImprovementsMember 2014-12-31 0001341088 vimc:MaskAndToolingMember 2013-12-31 0001341088 vimc:MaskAndToolingMember 2014-12-31 0001341088 us-gaap:VehiclesMember 2013-12-31 0001341088 us-gaap:VehiclesMember 2014-12-31 0001341088 us-gaap:SoftwareAndSoftwareDevelopmentCostsMember 2013-12-31 0001341088 us-gaap:SoftwareAndSoftwareDevelopmentCostsMember 2014-12-31 0001341088 us-gaap:ConstructionInProgressMember 2013-12-31 0001341088 us-gaap:ConstructionInProgressMember 2014-12-31 0001341088 us-gaap:AssetsHeldUnderCapitalLeasesMember 2014-01-01 2014-12-31 0001341088 us-gaap:AssetsHeldUnderCapitalLeasesMember 2012-01-01 2012-12-31 0001341088 us-gaap:AssetsHeldUnderCapitalLeasesMember 2013-01-01 2013-12-31 0001341088 vimc:WuxiVimicroCorporationMember 2013-09-01 2013-09-30 0001341088 vimc:VisiondigiTechnologyCorporationMember vimc:NingboSunnyOpotechCorporationLimitedMember 2012-07-31 0001341088 vimc:VisiondigiTechnologyCorporationMember vimc:IndividualNoncontrollingShareholdersOfVisiondigiMember 2012-07-31 0001341088 vimc:VimicroCorporationMember 2014-12-31 0001341088 vimc:VimicroCorporationMember vimc:VisiondigiTechnologyCorporationMember 2009-07-27 0001341088 vimc:VimicroCorporationMember vimc:IndividualNoncontrollingShareholdersOfVisiondigiMember 2009-07-27 0001341088 vimc:VimicroCorporationMember vimc:IndividualThirdPartyMember vimc:VisiondigiTechnologyCorporationMember 2012-07-01 2012-07-31 0001341088 vimc:VimicroCorporationMember vimc:VisiondigiTechnologyCorporationMember vimc:IndividualNoncontrollingShareholdersOfVisiondigiMember 2012-07-31 0001341088 vimc:StateOwnedAssetManagementCorporationMember vimc:VimicroElectronicsCorporationMember 2008-12-29 0001341088 vimc:VimicroCorporationMember vimc:VimicroElectronicsCorporationMember 2008-12-29 0001341088 vimc:VimicroCorporationMember 2014-01-01 2014-12-31 0001341088 vimc:VimicroCorporationMember vimc:VimicroManagementFoundationMember 2009-06-30 0001341088 vimc:VimicroCorporationMember vimc:VimicroManagementFoundationMember 2009-06-29 2009-06-30 0001341088 vimc:VimicroCorporationMember vimc:VimicroManagementFoundationMember vimc:VimicroElectronicsCorporationMember 2009-06-29 2009-06-30 0001341088 vimc:VimicroCorporationMember vimc:VimicroElectronicsCorporationMember 2009-06-30 0001341088 vimc:VisiondigiTechnologyCorporationMember vimc:IndividualNoncontrollingShareholdersOfVisiondigiMember 2012-07-01 2012-07-31 0001341088 vimc:VimicroCorporationMember vimc:VisiondigiTechnologyCorporationMember vimc:IndividualNoncontrollingShareholdersOfVisiondigiMember 2009-07-26 2009-07-27 0001341088 vimc:VisiondigiTechnologyCorporationMember vimc:NingboSunnyOpotechCorporationLimitedMember 2010-01-31 0001341088 vimc:VimicroCorporationMember vimc:VisiondigiTechnologyCorporationMember 2010-01-01 2010-01-31 0001341088 vimc:VisiondigiTechnologyCorporationMember vimc:IndividualNoncontrollingShareholdersOfVisiondigiMember 2011-04-01 2011-04-30 0001341088 vimc:VimicroCorporationMember vimc:VisiondigiTechnologyCorporationMember us-gaap:InvestorMember 2010-03-01 2010-03-31 0001341088 vimc:VimicroCorporationMember vimc:VisiondigiTechnologyCorporationMember 2010-03-01 2010-03-31 0001341088 vimc:VisiondigiTechnologyCorporationMember vimc:NingboSunnyOpotechCorporationLimitedMember 2012-07-01 2012-07-31 0001341088 vimc:VimicroManagementFoundationShenzhenCorporationMember 2012-01-12 0001341088 vimc:VimicroManagementFoundationShenzhenCorporationMember vimc:VimicroTechnologyCorporationMember 2012-01-12 0001341088 vimc:VimicroTechnologyCorporationMember 2014-01-01 2014-12-31 0001341088 vimc:VimicroManagementFoundationShenzhenCorporationMember vimc:VimicroManagementZhongxingTianshiInvestmentCorporationMember 2013-04-01 2013-04-30 0001341088 vimc:VestingPeriodFiveYearsMember vimc:EmployeeMember 2014-01-01 2014-12-31 0001341088 vimc:VestingPeriodOneYearMember vimc:EmployeeMember 2014-01-01 2014-12-31 0001341088 vimc:NonEmployeeMember 2014-01-01 2014-12-31 0001341088 vimc:Plan2004Member 2014-12-31 0001341088 vimc:Plan2004Member 2014-01-01 2014-12-31 0001341088 vimc:VimicroSkyVisionTechnologyCorporationMember 2014-01-01 2014-12-31 0001341088 vimc:ViewtelCorporationMember 2014-12-31 0001341088 vimc:VimicroElectronicsInternationalLimitedMember 2014-12-31 0001341088 vimc:VimicroElectronicTechnologyCorporationMember 2014-12-31 0001341088 vimc:VimicroElectronicsCorporationMember 2014-12-31 0001341088 vimc:VimicroGuangdongCorporationMember 2014-12-31 0001341088 vimc:VimicroGuiyangMember 2014-12-31 0001341088 vimc:JiangsuVimicroElectronicsLimitedMember 2014-12-31 0001341088 vimc:VimicroFuzhouCorporationMember 2014-12-31 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember vimc:Plan2004Member vimc:EmployeeMember 2014-12-31 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember vimc:Plan2004Member us-gaap:MinimumMember vimc:EmployeeMember 2014-12-31 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember vimc:Plan2004Member us-gaap:MaximumMember vimc:EmployeeMember 2014-12-31 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember vimc:Plan2004Member vimc:NonEmployeeMember 2014-12-31 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember vimc:Plan2004Member us-gaap:MinimumMember vimc:NonEmployeeMember 2014-12-31 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember vimc:Plan2004Member us-gaap:MaximumMember vimc:NonEmployeeMember 2014-12-31 0001341088 vimc:VimicroManagementFoundationShenzhenCorporationMember vimc:VimicroManagementZhongxingTianshiInvestmentCorporationMember 2014-01-01 2014-01-31 0001341088 vimc:WuxiVimicroCorporationMember vimc:BeijingZhongxingTianshiConsultingCompanyMember 2013-09-01 2013-09-30 0001341088 vimc:Plan2005Member 2014-12-31 0001341088 vimc:Plan2005Member 2014-01-01 2014-12-31 0001341088 us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2013-12-31 0001341088 us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2014-12-31 0001341088 vimc:QingdaoVimicroCorporationMember 2014-12-31 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember vimc:VestingPeriodOneYearMember vimc:Plan2005Member vimc:EmployeeMember 2014-01-01 2014-12-31 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember vimc:VestingPeriodThreeYearsMember vimc:Plan2005Member vimc:EmployeeMember 2014-01-01 2014-12-31 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember vimc:VestingPeriodFiveYearsMember vimc:Plan2005Member vimc:EmployeeMember 2014-01-01 2014-12-31 0001341088 vimc:ZhongtianxinTechnologyCoLtdMember 2014-12-31 0001341088 vimc:VisiondigiTechnologyCorporationMember 2014-12-31 0001341088 vimc:QingdaoVimicroCorporationMember 2012-01-01 2012-12-31 0001341088 vimc:QingdaoVimicroCorporationMember 2014-01-01 2014-12-31 0001341088 vimc:ZhongtianxinTechnologyCoLtdMember 2013-01-01 2013-12-31 0001341088 vimc:ZhongtianxinTechnologyCoLtdMember 2014-01-01 2014-12-31 0001341088 vimc:StateOwnedAssetManagementCorporationMember 2014-01-01 2014-12-31 0001341088 vimc:VisiondigiTechnologyCorporationMember 2012-07-31 0001341088 vimc:QingdaoVimicroCorporationMember 2013-01-01 2013-12-31 0001341088 vimc:ZhongtianxinTechnologyCoLtdMember 2012-01-01 2012-12-31 0001341088 vimc:StateOwnedAssetManagementCorporationMember 2012-01-01 2012-12-31 0001341088 vimc:StateOwnedAssetManagementCorporationMember 2013-01-01 2013-12-31 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember vimc:Plan2005Member vimc:EmployeeMember 2013-01-01 2013-12-31 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember vimc:Plan2005Member vimc:EmployeeMember 2014-01-01 2014-12-31 0001341088 vimc:VimicroCorporationMember vimc:MobileBusinessMember vimc:QingdaoVimicroCorporationMember 2011-12-31 0001341088 vimc:WuxiVimicroCorporationMember vimc:MobileBusinessMember vimc:QingdaoVimicroCorporationMember 2011-12-31 0001341088 vimc:BeijingZhongxingTianshiConsultingCompanyMember vimc:MobileBusinessMember vimc:QingdaoVimicroCorporationMember 2011-12-31 0001341088 vimc:MobileBusinessMember vimc:QingdaoVimicroCorporationMember 2011-12-31 0001341088 vimc:MobileBusinessMember vimc:QingdaoVimicroCorporationMember 2011-12-30 2011-12-31 0001341088 vimc:QingdaoVimicroCorporationMember 2013-06-30 0001341088 vimc:QingdaoVimicroCorporationMember 2013-08-31 0001341088 vimc:VisiondigiTechnologyCorporationMember 2012-07-01 2012-07-31 0001341088 vimc:VisiondigiTechnologyCorporationMember vimc:NingboSunnyOpotechCorporationLimitedMember 2012-07-31 0001341088 vimc:VisiondigiTechnologyCorporationMember vimc:IndividualNoncontrollingShareholdersOfVisiondigiMember 2012-07-31 0001341088 vimc:VisiondigiTechnologyCorporationMember vimc:IndividualNoncontrollingShareholdersOfVisiondigiMember 2012-07-01 2012-07-31 0001341088 vimc:VisiondigiTechnologyCorporationMember 2011-01-01 2011-12-31 0001341088 vimc:VisiondigiTechnologyCorporationMember 2012-01-01 2012-12-31 0001341088 vimc:TianshiVimicroCorporationMember 2013-12-31 0001341088 vimc:TianshiVimicroCorporationMember 2014-12-31 0001341088 vimc:QingdaoVimicroCorporationMember 2013-12-31 0001341088 vimc:BeijingZhongxingTianshiConsultingCompanyMember 2013-12-31 0001341088 vimc:BeijingZhongxingTianshiConsultingCompanyMember 2014-12-31 0001341088 vimc:WuxiVimicroCorporationMember 2013-12-31 0001341088 vimc:WuxiVimicroCorporationMember 2014-12-31 0001341088 vimc:StateOwnedAssetManagementCorporationMember 2013-12-31 0001341088 vimc:StateOwnedAssetManagementCorporationMember 2014-12-31 0001341088 vimc:ZhongtianxinTechnologyCoLtdMember 2013-12-31 0001341088 vimc:VisiondigiTechnologyCorporationMember 2013-01-01 2013-12-31 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember vimc:Plan2005Member vimc:EmployeeMember 2013-12-31 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember vimc:Plan2005Member vimc:EmployeeTwoMember 2013-12-31 0001341088 vimc:QingdaoVimicroCorporationMember 2013-04-29 2013-04-30 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember vimc:Plan2005Member vimc:EmployeeTwoMember 2014-01-01 2014-12-31 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember vimc:Plan2005Member vimc:EmployeeThreeMember 2014-01-01 2014-12-31 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember vimc:Plan2005Member vimc:EmployeeFourMember 2014-01-01 2014-12-31 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember vimc:Plan2005Member vimc:EmployeeFiveMember 2014-01-01 2014-12-31 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember vimc:Plan2005Member vimc:EmployeeMember 2014-12-31 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember vimc:Plan2005Member vimc:EmployeeTwoMember 2014-12-31 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember vimc:Plan2005Member vimc:EmployeeThreeMember 2014-12-31 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember vimc:Plan2005Member vimc:EmployeeFourMember 2014-12-31 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember vimc:Plan2005Member vimc:EmployeeFiveMember 2014-12-31 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember vimc:Plan2005Member vimc:EmployeeMember 2012-01-01 2012-12-31 0001341088 us-gaap:RestrictedStockMember vimc:Plan2005Member vimc:EmployeeMember 2014-12-31 0001341088 vimc:LoanFromChinaConstructionBankAt6.72PercentMember 2014-12-31 0001341088 vimc:LoanFromChinaConstructionBankAt6.72PercentMember 2013-12-31 0001341088 vimc:LoanFromChinaConstructionBankAt7.25PercentMember 2014-12-31 0001341088 vimc:LoanFromChinaConstructionBankAt7.25PercentMember 2013-12-31 0001341088 vimc:VisiondigiTechnologyCorporationMember 2014-01-01 2014-12-31 0001341088 us-gaap:InventoriesMember 2014-12-31 0001341088 us-gaap:CapitalAdditionsMember 2014-12-31 0001341088 vimc:VimicroCorporationMember us-gaap:UseRightsMember 2006-12-01 2006-12-31 0001341088 vimc:VimicroElectronicsCorporationMember us-gaap:UseRightsMember 2009-05-01 2009-05-31 0001341088 vimc:VimicroElectronicsCorporationMember us-gaap:UseRightsMember 2009-05-31 0001341088 us-gaap:RestrictedStockMember vimc:Plan2005Member us-gaap:MinimumMember vimc:EmployeeMember 2014-01-01 2014-12-31 0001341088 us-gaap:RestrictedStockMember vimc:Plan2005Member us-gaap:MaximumMember vimc:EmployeeMember 2014-01-01 2014-12-31 0001341088 us-gaap:RestrictedStockMember vimc:Plan2005Member vimc:EmployeeMember 2012-01-01 2012-12-31 0001341088 us-gaap:RestrictedStockMember vimc:Plan2005Member vimc:EmployeeMember 2013-01-01 2013-12-31 0001341088 us-gaap:RestrictedStockMember vimc:Plan2005Member vimc:EmployeeMember 2014-01-01 2014-12-31 0001341088 vimc:VimicroManagementZhongxingTianshiInvestmentCorporationMember 2013-04-01 2013-04-30 0001341088 vimc:VimicroManagementFoundationShenzhenCorporationMember vimc:VimicroManagementZhongxingTianshiInvestmentCorporationMember 2013-01-01 2013-12-31 0001341088 vimc:VimicroElectronicsCorporationMember us-gaap:AssetUnderConstructionMember 2014-01-01 2014-12-31 0001341088 vimc:VimicroElectronicsCorporationMember us-gaap:AssetUnderConstructionMember 2013-01-01 2013-12-31 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember vimc:Plan2005Member vimc:NonEmployeeMember 2014-12-31 0001341088 vimc:VimicroManagementFoundationShenzhenCorporationMember vimc:VimicroManagementZhongxingTianshiInvestmentCorporationMember 2014-04-01 2014-04-30 0001341088 vimc:VimicroManagementFoundationShenzhenCorporationMember vimc:VimicroManagementZhongxingTianshiInvestmentCorporationMember 2013-12-31 0001341088 vimc:Plan2005Member vimc:EmployeeAndNonemployeeStockOptionMember vimc:NonEmployeeMember us-gaap:MinimumMember 2014-12-31 0001341088 vimc:Plan2005Member vimc:EmployeeAndNonemployeeStockOptionMember vimc:NonEmployeeMember us-gaap:MaximumMember 2014-12-31 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember vimc:Plan2005Member vimc:NonEmployeeMember 2013-01-01 2013-12-31 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember vimc:Plan2005Member vimc:NonEmployeeMember 2014-01-01 2014-12-31 0001341088 country:US 2012-01-01 2012-12-31 0001341088 country:US 2013-01-01 2013-12-31 0001341088 country:US 2014-01-01 2014-12-31 0001341088 country:HK 2012-01-01 2012-12-31 0001341088 country:HK 2013-01-01 2013-12-31 0001341088 country:HK 2014-01-01 2014-12-31 0001341088 country:KY 2012-01-01 2012-12-31 0001341088 country:KY 2013-01-01 2013-12-31 0001341088 country:KY 2014-01-01 2014-12-31 0001341088 us-gaap:PerformanceSharesMember vimc:Plan2005Member vimc:QingdaoVimicroCorporationMember vimc:NonEmployeeMember 2013-12-31 0001341088 us-gaap:PerformanceSharesMember vimc:Plan2005Member vimc:ZhongtianxinTechnologyCoLtdMember vimc:NonEmployeeMember 2013-12-31 0001341088 country:KY 2014-01-01 2014-12-31 0001341088 vimc:ViewtelCorporationMember country:US 2014-01-01 2014-12-31 0001341088 vimc:ViewtelCorporationMember country:US us-gaap:MinimumMember 2014-01-01 2014-12-31 0001341088 vimc:ViewtelCorporationMember country:US us-gaap:MaximumMember 2014-01-01 2014-12-31 0001341088 vimc:ViewtelCorporationMember country:US 2012-01-01 2012-12-31 0001341088 vimc:ViewtelCorporationMember country:US 2013-01-01 2013-12-31 0001341088 vimc:VimicroElectronicsInternationalLimitedMember country:CN 2012-01-01 2012-12-31 0001341088 vimc:VimicroElectronicsInternationalLimitedMember country:CN 2013-01-01 2013-12-31 0001341088 vimc:VimicroElectronicsInternationalLimitedMember country:CN 2014-01-01 2014-12-31 0001341088 vimc:VimicroCorporationMember country:HK 2014-01-01 2014-12-31 0001341088 country:HK 2013-01-01 2013-12-31 0001341088 country:CN 2014-01-01 2014-12-31 0001341088 country:HK 2012-01-01 2012-12-31 0001341088 vimc:VimicroCorporationMember country:CN 2014-01-01 2014-12-31 0001341088 country:CN vimc:VimicroGuangdongMember 2014-01-01 2014-12-31 0001341088 us-gaap:SecuredDebtMember 2014-12-31 0001341088 vimc:VimicroElectronicsCorporationMember us-gaap:LineOfCreditMember 2014-12-31 0001341088 us-gaap:SecuredDebtMember 2013-01-01 2013-12-31 0001341088 country:CN 2014-12-31 0001341088 country:CN 2013-01-01 2013-12-31 0001341088 us-gaap:SecuredDebtMember 2014-01-01 2014-12-31 0001341088 vimc:JiangsuVimicroElectronicsLimitedMember us-gaap:UseRightsMember 2007-12-01 2007-12-31 0001341088 vimc:JiangsuVimicroElectronicsLimitedMember us-gaap:UseRightsMember 2007-12-31 0001341088 vimc:JiangsuVimicroElectronicsLimitedMember us-gaap:AssetUnderConstructionMember 2014-01-01 2014-12-31 0001341088 vimc:JiangsuVimicroElectronicsLimitedMember us-gaap:AssetUnderConstructionMember 2013-01-01 2013-12-31 0001341088 vimc:VimicroCorporationMember us-gaap:UseRightsMember 2010-02-28 0001341088 vimc:VimicroCorporationMember us-gaap:UseRightsMember 2010-02-01 2010-02-28 0001341088 us-gaap:PerformanceSharesMember vimc:Plan2005Member vimc:QingdaoVimicroCorporationMember vimc:NonEmployeeMember 2013-01-01 2013-12-31 0001341088 us-gaap:PerformanceSharesMember vimc:Plan2005Member vimc:ZhongtianxinTechnologyCoLtdMember vimc:NonEmployeeMember 2013-01-01 2013-12-31 0001341088 us-gaap:PerformanceSharesMember vimc:Plan2005Member vimc:ZhongtianxinTechnologyCoLtdMember vimc:NonEmployeeMember 2014-01-01 2014-12-31 0001341088 us-gaap:PerformanceSharesMember vimc:Plan2005Member vimc:ZhongtianxinTechnologyCoLtdMember vimc:NonEmployeeMember 2014-12-31 0001341088 vimc:Plan2005Member us-gaap:PerformanceSharesMember vimc:NonEmployeeMember vimc:ZhongtianxinMember 2014-12-31 0001341088 vimc:Plan2005Member us-gaap:PerformanceSharesMember vimc:NonEmployeeMember vimc:ZhongtianxinMember 2014-01-01 2014-12-31 0001341088 vimc:Plan2005Member vimc:ServiceBasedStockOptionsMember vimc:NonEmployeeMember vimc:ZhongtianxinTechnologyCoLtdMember 2014-12-31 0001341088 vimc:Plan2005Member vimc:ServiceBasedStockOptionsMember vimc:NonEmployeeMember vimc:ZhongtianxinMember 2014-12-31 0001341088 us-gaap:OperatingSegmentsMember vimc:VideoProcessorBusinessMember 2012-01-01 2012-12-31 0001341088 us-gaap:OperatingSegmentsMember vimc:VideoSurveillanceSolutionBusinessMember 2012-01-01 2012-12-31 0001341088 us-gaap:IntersegmentEliminationMember 2012-01-01 2012-12-31 0001341088 us-gaap:CustomerConcentrationRiskMember us-gaap:SalesMember 2014-01-01 2014-12-31 0001341088 us-gaap:CreditConcentrationRiskMember us-gaap:AccountsReceivableMember 2014-01-01 2014-12-31 0001341088 vimc:Plan2005Member vimc:ServiceBasedStockOptionsMember vimc:NonEmployeeMember vimc:ZhongtianxinTechnologyCoLtdMember 2014-01-01 2014-12-31 0001341088 vimc:Plan2005Member vimc:ServiceBasedStockOptionsMember vimc:NonEmployeeMember vimc:ZhongtianxinMember 2014-01-01 2014-12-31 0001341088 vimc:ExternalCustomersMember vimc:VideoProcessorBusinessMember 2012-01-01 2012-12-31 0001341088 vimc:ExternalCustomersMember vimc:VideoSurveillanceSolutionBusinessMember 2012-01-01 2012-12-31 0001341088 us-gaap:OperatingSegmentsMember vimc:VideoProcessorBusinessMember 2013-01-01 2013-12-31 0001341088 us-gaap:OperatingSegmentsMember vimc:VideoSurveillanceSolutionBusinessMember 2013-01-01 2013-12-31 0001341088 us-gaap:IntersegmentEliminationMember 2013-01-01 2013-12-31 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember vimc:Plan2005Member vimc:NonEmployeeMember 2012-01-01 2012-12-31 0001341088 vimc:ExternalCustomersMember vimc:VideoProcessorBusinessMember 2013-01-01 2013-12-31 0001341088 vimc:ExternalCustomersMember vimc:VideoSurveillanceSolutionBusinessMember 2013-01-01 2013-12-31 0001341088 us-gaap:OperatingSegmentsMember vimc:VideoProcessorBusinessMember 2014-01-01 2014-12-31 0001341088 us-gaap:OperatingSegmentsMember vimc:VideoSurveillanceSolutionBusinessMember 2014-01-01 2014-12-31 0001341088 us-gaap:IntersegmentEliminationMember 2014-01-01 2014-12-31 0001341088 vimc:ExternalCustomersMember vimc:VideoProcessorBusinessMember 2014-01-01 2014-12-31 0001341088 vimc:ExternalCustomersMember vimc:VideoSurveillanceSolutionBusinessMember 2014-01-01 2014-12-31 0001341088 vimc:VimicroCorporationMember vimc:WuxiVimicroCorporationMember 2012-12-31 0001341088 vimc:BeijingZhongxingTianshiConsultingCompanyMember vimc:WuxiVimicroCorporationMember 2013-09-01 2013-09-30 0001341088 us-gaap:ResearchAndDevelopmentExpenseMember 2012-01-01 2012-12-31 0001341088 us-gaap:ResearchAndDevelopmentExpenseMember 2013-01-01 2013-12-31 0001341088 us-gaap:ResearchAndDevelopmentExpenseMember 2014-01-01 2014-12-31 0001341088 us-gaap:SellingAndMarketingExpenseMember 2012-01-01 2012-12-31 0001341088 us-gaap:SellingAndMarketingExpenseMember 2013-01-01 2013-12-31 0001341088 us-gaap:SellingAndMarketingExpenseMember 2014-01-01 2014-12-31 0001341088 us-gaap:GeneralAndAdministrativeExpenseMember 2012-01-01 2012-12-31 0001341088 us-gaap:GeneralAndAdministrativeExpenseMember 2013-01-01 2013-12-31 0001341088 us-gaap:GeneralAndAdministrativeExpenseMember 2014-01-01 2014-12-31 0001341088 country:CN 2012-01-01 2012-12-31 0001341088 country:CN 2013-01-01 2013-12-31 0001341088 country:HK 2012-01-01 2012-12-31 0001341088 country:HK 2013-01-01 2013-12-31 0001341088 country:CN 2014-01-01 2014-12-31 0001341088 country:HK 2014-01-01 2014-12-31 0001341088 us-gaap:SecuredDebtMember 2013-12-31 0001341088 country:CN 2013-12-31 0001341088 country:CN 2014-12-31 0001341088 country:HK 2013-12-31 0001341088 country:HK 2014-12-31 0001341088 country:US 2013-12-31 0001341088 country:US 2014-12-31 0001341088 vimc:ZhongtianxinTechnologyCoLtdMember 2014-12-31 0001341088 vimc:BeijingZhongxingTianshiConsultingCompanyMember vimc:ZhongtianxinTechnologyCoLtdMember 2014-12-31 0001341088 us-gaap:RestrictedStockMember vimc:VestingPeriodThreeYearsMember vimc:Plan2005Member vimc:NonEmployeeMember 2014-12-31 0001341088 us-gaap:RestrictedStockMember vimc:VestingPeriodThreeYearsMember vimc:Plan2005Member vimc:NonEmployeeMember 2014-01-01 2014-12-31 0001341088 us-gaap:RestrictedStockMember vimc:VestingPeriodOneYearMember vimc:Plan2005Member vimc:NonEmployeeMember 2014-12-31 0001341088 us-gaap:RestrictedStockMember vimc:VestingPeriodOneYearMember vimc:Plan2005Member vimc:NonEmployeeMember 2014-01-01 2014-12-31 0001341088 vimc:ZhongtianxinTechnologyCoLtdMember 2012-01-01 2012-12-31 0001341088 vimc:ZhongtianxinTechnologyCoLtdMember 2013-01-01 2013-12-31 0001341088 vimc:ZhongtianxinTechnologyCoLtdMember 2014-01-01 2014-12-31 0001341088 vimc:PCCameraProcessorMember vimc:VideoProcessorBusinessMember 2012-01-01 2012-12-31 0001341088 vimc:PCCameraProcessorMember vimc:VideoProcessorBusinessMember 2013-01-01 2013-12-31 0001341088 vimc:PCCameraProcessorMember vimc:VideoProcessorBusinessMember 2014-01-01 2014-12-31 0001341088 vimc:SurveillanceProcessorMember vimc:VideoProcessorBusinessMember 2012-01-01 2012-12-31 0001341088 vimc:SurveillanceProcessorMember vimc:VideoProcessorBusinessMember 2013-01-01 2013-12-31 0001341088 vimc:SurveillanceProcessorMember vimc:VideoProcessorBusinessMember 2014-01-01 2014-12-31 0001341088 vimc:OtherProductsMember vimc:VideoProcessorBusinessMember 2012-01-01 2012-12-31 0001341088 vimc:OtherProductsMember vimc:VideoProcessorBusinessMember 2013-01-01 2013-12-31 0001341088 vimc:OtherProductsMember vimc:VideoProcessorBusinessMember 2014-01-01 2014-12-31 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember us-gaap:ManagementMember 2012-01-01 2012-12-31 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember us-gaap:ManagementMember 2013-01-01 2013-12-31 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember us-gaap:ManagementMember 2014-01-01 2014-12-31 0001341088 us-gaap:ProductConcentrationRiskMember us-gaap:SalesMember vimc:VideoProcessorBusinessMember 2012-01-01 2012-12-31 0001341088 us-gaap:ProductConcentrationRiskMember us-gaap:SalesMember vimc:VideoSurveillanceSolutionBusinessMember 2012-01-01 2012-12-31 0001341088 us-gaap:ProductConcentrationRiskMember us-gaap:SalesMember vimc:VideoProcessorBusinessMember 2013-01-01 2013-12-31 0001341088 us-gaap:ProductConcentrationRiskMember us-gaap:SalesMember vimc:VideoSurveillanceSolutionBusinessMember 2013-01-01 2013-12-31 0001341088 us-gaap:ProductConcentrationRiskMember us-gaap:SalesMember vimc:VideoProcessorBusinessMember 2014-01-01 2014-12-31 0001341088 us-gaap:ProductConcentrationRiskMember us-gaap:SalesMember vimc:VideoSurveillanceSolutionBusinessMember 2014-01-01 2014-12-31 0001341088 vimc:TopTenCustomersMember us-gaap:CustomerConcentrationRiskMember us-gaap:SalesRevenueGoodsNetMember 2014-01-01 2014-12-31 0001341088 vimc:TopTenCustomersMember us-gaap:CustomerConcentrationRiskMember us-gaap:SalesRevenueGoodsNetMember 2012-01-01 2012-12-31 0001341088 vimc:TopTenCustomersMember us-gaap:CustomerConcentrationRiskMember us-gaap:SalesRevenueGoodsNetMember 2013-01-01 2013-12-31 0001341088 2011-12-31 0001341088 2012-12-31 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember 2013-12-31 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember 2014-01-01 2014-12-31 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember 2014-12-31 0001341088 us-gaap:CustomerConcentrationRiskMember us-gaap:SalesMember vimc:CustomerZMember 2012-01-01 2012-12-31 0001341088 us-gaap:CustomerConcentrationRiskMember us-gaap:SalesMember vimc:CustomerZMember 2013-01-01 2013-12-31 0001341088 us-gaap:CustomerConcentrationRiskMember us-gaap:SalesMember vimc:CustomerZMember 2014-01-01 2014-12-31 0001341088 us-gaap:CustomerConcentrationRiskMember us-gaap:SalesMember vimc:CustomerPMember 2012-01-01 2012-12-31 0001341088 us-gaap:CustomerConcentrationRiskMember us-gaap:SalesMember vimc:CustomerPMember 2013-01-01 2013-12-31 0001341088 us-gaap:CustomerConcentrationRiskMember us-gaap:SalesMember vimc:CustomerPMember 2014-01-01 2014-12-31 0001341088 us-gaap:CustomerConcentrationRiskMember us-gaap:SalesMember vimc:CustomerSMember 2012-01-01 2012-12-31 0001341088 us-gaap:CustomerConcentrationRiskMember us-gaap:SalesMember vimc:CustomerSMember 2013-01-01 2013-12-31 0001341088 us-gaap:CustomerConcentrationRiskMember us-gaap:SalesMember vimc:CustomerSMember 2014-01-01 2014-12-31 0001341088 us-gaap:RestrictedStockMember 2013-12-31 0001341088 us-gaap:RestrictedStockMember 2014-01-01 2014-12-31 0001341088 us-gaap:RestrictedStockMember 2014-12-31 0001341088 vimc:RangeOfExercisePricesFromDollars0.00To0.38Member 2014-01-01 2014-12-31 0001341088 vimc:RangeOfExercisePricesFromDollars0.00To0.38Member 2014-12-31 0001341088 vimc:RangeOfExercisePricesFromDollars0.40To0.63Member 2014-01-01 2014-12-31 0001341088 vimc:RangeOfExercisePricesFromDollars0.40To0.63Member 2014-12-31 0001341088 vimc:RangeOfExercisePricesFromDollars0.68To0.97Member 2014-01-01 2014-12-31 0001341088 vimc:RangeOfExercisePricesFromDollars0.68To0.97Member 2014-12-31 0001341088 vimc:RangeOfExercisePricesFromDollars1.00To1.39Member 2014-01-01 2014-12-31 0001341088 vimc:RangeOfExercisePricesFromDollars1.00To1.39Member 2014-12-31 0001341088 vimc:RangeOfExercisePricesFromDollars1.47To1.60Member 2014-01-01 2014-12-31 0001341088 vimc:RangeOfExercisePricesFromDollars1.47To1.60Member 2014-12-31 0001341088 vimc:RangeOfExercisePricesFromDollars1.73To2.10Member 2014-01-01 2014-12-31 0001341088 vimc:RangeOfExercisePricesFromDollars1.73To2.10Member 2014-12-31 0001341088 vimc:RangeOfExercisePricesFromDollars2.27To2.59Member 2014-01-01 2014-12-31 0001341088 vimc:RangeOfExercisePricesFromDollars2.27To2.59Member 2014-12-31 0001341088 vimc:RangeOfExercisePricesFromDollars2.75To2.82Member 2014-01-01 2014-12-31 0001341088 vimc:RangeOfExercisePricesFromDollars2.75To2.82Member 2014-12-31 0001341088 vimc:RangeOfExercisePricesFromDollars3.00To3.37Member 2014-01-01 2014-12-31 0001341088 vimc:RangeOfExercisePricesFromDollars3.00To3.37Member 2014-12-31 0001341088 vimc:RangeOfExercisePricesFromDollars4.22To4.55Member 2014-01-01 2014-12-31 0001341088 vimc:RangeOfExercisePricesFromDollars4.22To4.55Member 2014-12-31 0001341088 us-gaap:NotesPayableToBanksMember 2014-01-01 2014-12-31 0001341088 us-gaap:CreditConcentrationRiskMember us-gaap:AccountsReceivableMember vimc:CustomerSMember 2013-01-01 2013-12-31 0001341088 us-gaap:CreditConcentrationRiskMember us-gaap:AccountsReceivableMember vimc:CustomerSMember 2014-01-01 2014-12-31 0001341088 vimc:VimicroElectronicsCorporationMember us-gaap:AssetUnderConstructionMember 2014-12-31 0001341088 vimc:JiangsuVimicroElectronicsLimitedMember us-gaap:AssetUnderConstructionMember 2014-12-31 0001341088 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2011-12-31 0001341088 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2012-12-31 0001341088 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2013-12-31 0001341088 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2012-01-01 2012-12-31 0001341088 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2013-01-01 2013-12-31 0001341088 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2014-01-01 2014-12-31 0001341088 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2014-12-31 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember vimc:VestingPeriodFiveYearsMember vimc:EmployeeMember 2012-01-01 2012-12-31 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember vimc:VestingPeriodFiveYearsMember vimc:EmployeeMember 2013-01-01 2013-12-31 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember vimc:VestingPeriodFiveYearsMember vimc:EmployeeMember 2014-01-01 2014-12-31 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember vimc:VestingPeriodFiveYearsMember us-gaap:MinimumMember vimc:EmployeeMember 2013-01-01 2013-12-31 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember vimc:VestingPeriodFiveYearsMember us-gaap:MinimumMember vimc:EmployeeMember 2014-01-01 2014-12-31 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember vimc:VestingPeriodFiveYearsMember us-gaap:MaximumMember vimc:EmployeeMember 2014-01-01 2014-12-31 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember vimc:VestingPeriodFiveYearsMember us-gaap:MinimumMember vimc:EmployeeMember 2012-01-01 2012-12-31 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember vimc:VestingPeriodFiveYearsMember us-gaap:MaximumMember vimc:EmployeeMember 2012-01-01 2012-12-31 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember vimc:VestingPeriodFiveYearsMember us-gaap:MaximumMember vimc:EmployeeMember 2013-01-01 2013-12-31 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember vimc:VestingPeriodOneYearMember vimc:EmployeeMember 2012-01-01 2012-12-31 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember vimc:VestingPeriodOneYearMember vimc:EmployeeMember 2013-01-01 2013-12-31 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember vimc:VestingPeriodOneYearMember vimc:EmployeeMember 2014-01-01 2014-12-31 0001341088 us-gaap:NoncontrollingInterestMember 2011-12-31 0001341088 us-gaap:NoncontrollingInterestMember 2012-01-01 2012-12-31 0001341088 us-gaap:NoncontrollingInterestMember 2012-12-31 0001341088 us-gaap:NoncontrollingInterestMember 2013-01-01 2013-12-31 0001341088 us-gaap:NoncontrollingInterestMember 2013-12-31 0001341088 us-gaap:NoncontrollingInterestMember 2014-01-01 2014-12-31 0001341088 us-gaap:NoncontrollingInterestMember 2014-12-31 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember vimc:VestingPeriodFiveYearsMember vimc:NonEmployeeMember 2012-01-01 2012-12-31 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember vimc:VestingPeriodFiveYearsMember vimc:NonEmployeeMember 2013-01-01 2013-12-31 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember vimc:VestingPeriodFiveYearsMember vimc:NonEmployeeMember 2014-01-01 2014-12-31 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember vimc:VestingPeriodOneYearMember vimc:NonEmployeeMember 2012-01-01 2012-12-31 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember vimc:VestingPeriodOneYearMember vimc:NonEmployeeMember 2013-01-01 2013-12-31 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember vimc:VestingPeriodFiveYearsMember us-gaap:MinimumMember vimc:NonEmployeeMember 2014-01-01 2014-12-31 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember vimc:VestingPeriodFiveYearsMember us-gaap:MaximumMember vimc:NonEmployeeMember 2014-01-01 2014-12-31 0001341088 vimc:VimicroHighTechCorporationMember vimc:VimicroXingguangCorporationMember 2012-11-01 2012-11-30 0001341088 vimc:VimicroCorporationMember vimc:WuxiVimicroCorporationMember 2012-12-31 0001341088 us-gaap:CreditConcentrationRiskMember us-gaap:AccountsReceivableMember vimc:CustomerDMember 2013-01-01 2013-12-31 0001341088 us-gaap:CreditConcentrationRiskMember us-gaap:AccountsReceivableMember vimc:CustomerDMember 2014-01-01 2014-12-31 0001341088 country:CN vimc:VimicroGuiyangMember 2014-01-01 2014-12-31 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember 2012-01-01 2012-12-31 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember 2013-01-01 2013-12-31 0001341088 vimc:StockPurchaseAgreementWithZongyiMember us-gaap:ScenarioForecastMember us-gaap:SubsequentEventMember 2015-02-04 2015-02-05 0001341088 vimc:StockPurchaseAgreementWithZongyiMember us-gaap:ScenarioForecastMember us-gaap:SubsequentEventMember 2015-02-05 0001341088 vimc:EquipmentAndOfficeFurnitureMember 2014-01-01 2014-12-31 0001341088 vimc:MaskAndToolingMember 2014-01-01 2014-12-31 0001341088 us-gaap:VehiclesMember 2014-01-01 2014-12-31 0001341088 us-gaap:SoftwareAndSoftwareDevelopmentCostsMember us-gaap:MinimumMember 2014-01-01 2014-12-31 0001341088 us-gaap:SoftwareAndSoftwareDevelopmentCostsMember us-gaap:MaximumMember 2014-01-01 2014-12-31 0001341088 vimc:StockPurchaseAgreementWithZongyiMember us-gaap:SubsequentEventMember 2015-02-04 2015-02-05 0001341088 us-gaap:UseRightsMember us-gaap:MaximumMember 2014-01-01 2014-12-31 0001341088 vimc:GolfMembershipsMember 2013-12-31 0001341088 vimc:GolfMembershipsMember 2014-12-31 0001341088 us-gaap:SubsidiariesMember 2014-01-01 2014-12-31 0001341088 us-gaap:SubsidiariesMember 2013-12-31 0001341088 us-gaap:SubsidiariesMember 2014-12-31 0001341088 us-gaap:ParentCompanyMember 2013-12-31 0001341088 us-gaap:ParentCompanyMember 2014-12-31 0001341088 vimc:GolfMembershipsMember 2014-01-01 2014-12-31 0001341088 vimc:GolfMembershipsMember 2013-01-01 2013-12-31 0001341088 us-gaap:MinimumMember 2014-01-01 2014-12-31 0001341088 us-gaap:MaximumMember 2014-01-01 2014-12-31 0001341088 us-gaap:RestrictedStockMember 2012-01-01 2012-12-31 0001341088 us-gaap:RestrictedStockMember 2013-01-01 2013-12-31 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember us-gaap:MinimumMember vimc:EmployeeMember 2014-12-31 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember us-gaap:MaximumMember vimc:EmployeeMember 2014-12-31 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember us-gaap:MinimumMember vimc:NonEmployeeMember 2014-12-31 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember us-gaap:MaximumMember vimc:NonEmployeeMember 2014-12-31 0001341088 us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2014-01-01 2014-12-31 0001341088 us-gaap:ParentCompanyMember 2012-01-01 2012-12-31 0001341088 us-gaap:ParentCompanyMember 2013-01-01 2013-12-31 0001341088 us-gaap:ParentCompanyMember 2014-01-01 2014-12-31 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember vimc:VestingPeriodOneYearMember vimc:NonEmployeeMember 2014-01-01 2014-12-31 0001341088 vimc:CommonStockOutstandingMember 2011-12-31 0001341088 us-gaap:AdditionalPaidInCapitalMember 2011-12-31 0001341088 us-gaap:TreasuryStockMember 2011-12-31 0001341088 us-gaap:RetainedEarningsMember 2011-12-31 0001341088 vimc:StatutoryReserveMember 2011-12-31 0001341088 us-gaap:ParentMember 2011-12-31 0001341088 vimc:CommonStockOutstandingMember 2012-01-01 2012-12-31 0001341088 us-gaap:AdditionalPaidInCapitalMember 2012-01-01 2012-12-31 0001341088 us-gaap:TreasuryStockMember 2012-01-01 2012-12-31 0001341088 us-gaap:RetainedEarningsMember 2012-01-01 2012-12-31 0001341088 vimc:StatutoryReserveMember 2012-01-01 2012-12-31 0001341088 us-gaap:ParentMember 2012-01-01 2012-12-31 0001341088 2012-09-01 2014-12-31 0001341088 vimc:CommonStockOutstandingMember 2012-12-31 0001341088 us-gaap:AdditionalPaidInCapitalMember 2012-12-31 0001341088 us-gaap:TreasuryStockMember 2012-12-31 0001341088 us-gaap:RetainedEarningsMember 2012-12-31 0001341088 vimc:StatutoryReserveMember 2012-12-31 0001341088 us-gaap:ParentMember 2012-12-31 0001341088 vimc:CommonStockOutstandingMember 2013-01-01 2013-12-31 0001341088 us-gaap:AdditionalPaidInCapitalMember 2013-01-01 2013-12-31 0001341088 us-gaap:TreasuryStockMember 2013-01-01 2013-12-31 0001341088 us-gaap:RetainedEarningsMember 2013-01-01 2013-12-31 0001341088 vimc:StatutoryReserveMember 2013-01-01 2013-12-31 0001341088 us-gaap:ParentMember 2013-01-01 2013-12-31 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember vimc:Plan2005Member vimc:EmployeeTwoMember 2013-01-01 2013-12-31 0001341088 us-gaap:ParentCompanyMember 2011-12-31 0001341088 us-gaap:ParentCompanyMember 2012-12-31 0001341088 vimc:CommonStockOutstandingMember 2013-12-31 0001341088 us-gaap:AdditionalPaidInCapitalMember 2013-12-31 0001341088 us-gaap:TreasuryStockMember 2013-12-31 0001341088 us-gaap:RetainedEarningsMember 2013-12-31 0001341088 vimc:StatutoryReserveMember 2013-12-31 0001341088 us-gaap:ParentMember 2013-12-31 0001341088 vimc:CommonStockOutstandingMember 2014-01-01 2014-12-31 0001341088 us-gaap:AdditionalPaidInCapitalMember 2014-01-01 2014-12-31 0001341088 us-gaap:TreasuryStockMember 2014-01-01 2014-12-31 0001341088 us-gaap:RetainedEarningsMember 2014-01-01 2014-12-31 0001341088 vimc:StatutoryReserveMember 2014-01-01 2014-12-31 0001341088 us-gaap:ParentMember 2014-01-01 2014-12-31 0001341088 us-gaap:PerformanceSharesMember vimc:Plan2005Member vimc:ZxinyingcaiMember vimc:NonEmployeeMember 2014-01-01 2014-12-31 0001341088 us-gaap:NotesPayableOtherPayablesMember 2014-01-01 2014-12-31 0001341088 vimc:CommonStockOutstandingMember 2014-12-31 0001341088 us-gaap:AdditionalPaidInCapitalMember 2014-12-31 0001341088 us-gaap:TreasuryStockMember 2014-12-31 0001341088 us-gaap:RetainedEarningsMember 2014-12-31 0001341088 vimc:StatutoryReserveMember 2014-12-31 0001341088 us-gaap:ParentMember 2014-12-31 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember vimc:Plan2005Member vimc:EmployeeMember 2012-12-31 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember vimc:VestingPeriodOneYearMember vimc:Plan2005Member vimc:KeyEmployeesMember 2014-01-01 2014-12-31 0001341088 vimc:JiangsuVimicroElectronicsLimitedMember vimc:NanjingXuanwuDistrictManagementAndInvestmentOfStateOwnedAssetsHoldingsGroupCoLtdMember vimc:CooperativeAgreementMember 2013-05-31 0001341088 vimc:VimicroFuzhouCorporationMember vimc:StrategicCooperativeFrameworkAgreementMember 2012-05-31 0001341088 vimc:VimicroFuzhouCorporationMember vimc:InterestFreeGovernmentLoanMember vimc:StrategicCooperativeFrameworkAgreementMember 2012-05-31 0001341088 vimc:VimicroFuzhouCorporationMember vimc:InterestFreeGovernmentLoanMember us-gaap:MaximumMember vimc:StrategicCooperativeFrameworkAgreementMember 2012-02-01 2012-02-29 0001341088 vimc:VimicroFuzhouCorporationMember vimc:InterestFreeGovernmentLoanMember vimc:StrategicCooperativeFrameworkAgreementMember 2012-05-01 2014-12-31 0001341088 vimc:VimicroFuzhouCorporationMember vimc:InterestFreeGovernmentLoanMember vimc:StrategicCooperativeFrameworkAgreementMember 2014-12-31 0001341088 vimc:JiangsuVimicroElectronicsLimitedMember vimc:NanjingXuanwuDistrictManagementAndInvestmentOfStateOwnedAssetsHoldingsGroupCoLtdMember vimc:CooperativeAgreementMember 2012-12-01 2012-12-31 0001341088 vimc:VimicroManagementFoundationShenzhenCorporationMember vimc:VimicroManagementZhongxingTianshiInvestmentCorporationMember 2013-01-01 2013-12-31 0001341088 vimc:VimicroVMFShanghaiCorporationMember 2012-01-01 2012-12-31 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember us-gaap:ManagementMember 2012-05-18 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember us-gaap:MinimumMember us-gaap:ManagementMember 2012-05-18 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember us-gaap:MaximumMember us-gaap:ManagementMember 2012-05-18 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember us-gaap:ManagementMember 2008-03-27 0001341088 vimc:Plan2005Member 2005-01-01 2005-12-31 0001341088 vimc:AmericanDepositorySharesMember 2012-01-01 2012-12-31 0001341088 us-gaap:MinimumMember vimc:AmericanDepositorySharesMember 2012-01-01 2012-12-31 0001341088 us-gaap:MaximumMember vimc:AmericanDepositorySharesMember 2012-01-01 2012-12-31 0001341088 vimc:AmericanDepositorySharesMember 2013-01-01 2013-12-31 0001341088 us-gaap:MinimumMember vimc:AmericanDepositorySharesMember 2013-01-01 2013-12-31 0001341088 us-gaap:MaximumMember vimc:AmericanDepositorySharesMember 2013-01-01 2013-12-31 0001341088 vimc:AmericanDepositorySharesMember 2014-01-01 2014-12-31 0001341088 vimc:AmericanDepositorySharesMember 2012-01-01 2014-12-31 0001341088 2012-01-01 2014-12-31 0001341088 us-gaap:PerformanceSharesMember vimc:Plan2005Member vimc:NonEmployeeMember 2013-01-01 2013-12-31 0001341088 us-gaap:PerformanceSharesMember vimc:Plan2005Member vimc:NonEmployeeMember 2014-01-01 2014-12-31 0001341088 vimc:EmployeeAndNonemployeeStockOptionMember vimc:NonEmployeeMember vimc:RangeOfExercisePricesFromDollars0.00To0.38Member 2014-01-01 2014-12-31 0001341088 2008-10-12 0001341088 vimc:QingdaoVimicroCorporationMember 2012-12-31 0001341088 vimc:VisiondigiTechnologyCorporationMember 2012-12-31 0001341088 country:CN vimc:TaxYear2015Member 2014-12-31 0001341088 country:CN vimc:TaxYear2016Member 2014-12-31 0001341088 country:CN vimc:TaxYear2017Member 2014-12-31 0001341088 country:CN vimc:TaxYear2018Member 2014-12-31 0001341088 country:CN vimc:TaxYear2019Member 2014-12-31 0001341088 country:CN vimc:TaxYear2015Member 2014-01-01 2014-12-31 0001341088 country:CN vimc:TaxYear2016Member 2014-01-01 2014-12-31 0001341088 country:CN vimc:TaxYear2017Member 2014-01-01 2014-12-31 0001341088 country:CN vimc:TaxYear2018Member 2014-01-01 2014-12-31 0001341088 country:CN vimc:TaxYear2019Member 2014-01-01 2014-12-31 0001341088 us-gaap:ParentCompanyMember country:CN 2013-12-31 0001341088 us-gaap:ParentCompanyMember country:CN 2014-12-31 0001341088 us-gaap:ParentCompanyMember currency:CNY country:CN 2013-12-31 0001341088 us-gaap:ParentCompanyMember currency:CNY country:CN 2014-12-31 0001341088 vimc:ViewtelCorporationMember 2014-01-01 2014-12-31 0001341088 vimc:VimicroElectronicsInternationalLimitedMember 2014-01-01 2014-12-31 0001341088 vimc:VimicroElectronicTechnologyCorporationMember 2014-01-01 2014-12-31 0001341088 vimc:VimicroElectronicsCorporationMember 2014-01-01 2014-12-31 0001341088 vimc:VimicroGuangdongCorporationMember 2014-01-01 2014-12-31 0001341088 vimc:VimicroGuiyangMember 2014-01-01 2014-12-31 0001341088 vimc:JiangsuVimicroElectronicsLimitedMember 2014-01-01 2014-12-31 0001341088 vimc:VimicroFuzhouCorporationMember 2014-01-01 2014-12-31 0001341088 vimc:VimicroGuangdongCorporationMember vimc:VimicroFuzhouCorporationMember 2014-01-01 2014-12-31 0001341088 vimc:JiangsuVimicroElectronicsLimitedMember vimc:NanjingXuanwuDistrictManagementAndInvestmentOfStateOwnedAssetsHoldingsGroupCoLtdMember vimc:CooperativeAgreementMember 2012-01-01 2012-12-31 iso4217:USD iso4217:USD xbrli:shares xbrli:shares xbrli:pure iso4217:CNY utr:sqm vimc:item vimc:quarter 35869000 25662000 1727000 32000 2228000 5937000 24996000 24516000 2156000 1871000 25820000 101686000 13812000 13719000 429000 537000 7517000 1014000 109741000 174038000 603000 4794000 26124000 15518000 15289000 703000 2055000 1594000 158232000 246367000 21839000 42881000 7040000 6612000 6991000 18295000 1447000 13719000 6632000 8057000 20533000 6184000 52006000 132644000 1511000 1505000 14000 5000 1065000 3185000 13121000 9152000 8201000 9805000 75918000 156296000 500000000 155152737 104014754 155788653 103161018 15000 14000 158384000 154437000 41872088 34095849 15961000 12855000 11387000 10189000 -91667000 -88256000 2782000 4068000 64940000 67597000 17374000 22474000 82314000 90071000 158232000 246367000 500000000 0.0001 3922000 71187000 64525000 100443000 70331000 42389000 44204000 856000 22136000 56239000 45146000 42141000 61353000 26041000 22384000 39090000 8881000 11627000 9158000 9174000 9488000 10843000 12244000 12143000 13861000 1448000 31747000 33258000 33862000 -5706000 -10874000 5228000 234000 -165000 -115000 -19000 1235000 -197000 1472000 6000 1319000 169000 369000 887000 -3850000 -9429000 7122000 210000 692000 823000 -4060000 -10121000 6299000 -87000 1372000 3552000 -4147000 -8749000 9851000 5530000 331000 -5154000 1383000 -8418000 4697000 -3109000 1107000 -2002000 -7256000 -8749000 9851000 -6637000 -331000 5154000 -619000 -8418000 4697000 -62000 542000 15000 1468000 -1530000 542000 -1252000 -8786000 -8207000 8599000 -6711000 218000 5100000 -2075000 -8425000 3499000 0.01 -0.07 0.05 -0.02 -0.01 -0.07 0.05 0.01 -0.07 0.04 -0.02 -0.01 -0.07 0.04 123253931 114687240 98443702 127624447 114687240 115534122 974000 1001000 875000 151000 186000 181000 949000 621000 670000 1267000 139953296 108340000 1567297 1000 121000 122000 122000 14152399 6638000 6638000 6638000 1000 4562000 -4563000 230000 230000 230000 1578000 1578000 -619000 1578000 104014754 15000 158384000 -15961000 -91667000 11387000 2782000 64940000 17374000 4697000 4697000 5154000 69000 69000 -54000 -619000 635916 113000 113000 -6637000 113000 9778103 -1223000 4092000 2869000 15000 2869000 11267755 5550000 5550000 5550000 1000 4563000 -4564000 93000 93000 93000 1633000 1633000 1633000 -1286000 1286000 1267000 1267000 -1456000 103161018 14000 154437000 -12855000 -88256000 10189000 4068000 67597000 22474000 -1456000 -74000 158879000 469744 64000 64000 -6490000 64000 23823184 7396000 7396000 -82630000 7396000 2074000 2074000 12850000 2074000 933000 2782000 933000 116599856 15000 161017000 -13886000 -83249000 11394000 2782000 78073000 17156000 85406000 95229000 -8418000 -8418000 -331000 22934000 -7000 -7000 549000 2108000 1268000 1066000 703000 655000 3523000 -1186000 1050000 1048000 183000 397000 368000 313000 -129000 586000 -1717000 2074000 1808000 1726000 -32000 -6000 -13000 0 -1976000 -14381000 740000 -1412000 -1996000 22000 7968000 464000 3177000 1142000 20328000 75866000 -3527000 4236000 -58000 2014000 2915000 4400000 209000 -9000 -9000 -31000 14199000 21042000 1221000 2575000 -428000 -662000 1020000 4558000 11270000 790000 1195000 9003000 3191000 -4812000 5540000 223000 584000 2120000 6566000 -4528000 12475000 7101000 -14806000 2074000 8506000 9945000 20787000 479000 291000 4275000 468000 603000 2900000 10410000 -1481000 5000000 3280000 -2371000 -6484000 -16390000 4773000 8348000 -547000 -1181000 1717000 7396000 6638000 5550000 64000 122000 2982000 4772000 4885000 1666000 651000 4034000 -91000 976000 75000 6305000 -19663000 -10207000 49227000 55532000 3422000 8108000 256000 800000 887000 44000 1.00 4 3 1.00 1.00 1.00 1.00 0.5001 1.00 1.00 1.00 1.00 1.00 0.4999 250000000 P1Y 250000000 0.15 3 3 0.615 0.385 20000000 2900000 9850000 1400000 0.07 10000000 1500000 5300000 800000 0.3085 0.3479 3090000 490000 0.1589 0.1791 1590000 250000 0.3526 310686000 0.18 0.0597 10410000 1133000 1.00 1.00 P20Y 10000000 5000000 5000000 3800000 1200000 <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div style="font-family: 'times new roman', times; font-size: 10pt;"> <div style="font-family: 'times new roman', times; font-size: 10pt;" class="CursorPointer"> <table cellpadding="0" cellspacing="0" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%;"> <tr style="vertical-align: top;"> <td style="width: 0%;"></td> <td style="width: 0.33in; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b style="font-family: 'times new roman', times; font-size: 10pt;">1.</b></font></td> <td style="text-align: justify; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b style="font-family: 'times new roman', times; font-size: 10pt;">ORGANIZATION AND PRINCIPAL ACTIVITIES</b></font></td> </tr> </table> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Vimicro International Corporation (the &#147;Company&#148;) was incorporated under the laws of the Cayman Islands on February 24, 2004 as an exempted company with limited liability. It holds <font>100</font>% of the equity interest of Vimicro Corporation (&#147;Vimicro China&#148;) with an approved operating period through October 2029. As of December 31, 2014, Vimicro China has <font>four</font> directly wholly owned subsidiaries, a majority owned consolidated subsidiary, a Variable interest entity (&#147;VIE&#148;) and <font>three</font> indirectly owned subsidiaries. The Company and its controlled entities, including subsidiaries and VIE are hereinafter collectively referred to as the &#147;Group&#148;.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Group designs, develops and markets semiconductor products with multimedia applications, including personal computer (&#147;PC&#148;) camera multimedia processors and security processors. The Group also provides video surveillance solutions and services. In addition, it is also involved in the packaging, testing and reselling of third party image sensors according to the Company's specifications. Product manufacturing, certain product packaging and testing are outsourced to third party vendors.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The details of the subsidiaries and VIE as of December 31, 2014 are set out below:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <div style="font-family: 'times new roman', times; font-size: 10pt;"> <div style="display: block;"> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong style="font-family: 'times new roman', times; font-size: 10pt;"> </strong></font></td> <td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong style="font-family: 'times new roman', times; font-size: 10pt;">Percentage</strong><strong style="font-family: 'times new roman', times; font-size: 10pt;"></strong></font></td> <td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong style="font-family: 'times new roman', times; font-size: 10pt;"></strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong style="font-family: 'times new roman', times; font-size: 10pt;"> </strong></font></td> <td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong style="font-family: 'times new roman', times; font-size: 10pt;">of Direct or</strong><strong style="font-family: 'times new roman', times; font-size: 10pt;"></strong></font></td> <td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong style="font-family: 'times new roman', times; font-size: 10pt;"></strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong style="font-family: 'times new roman', times; font-size: 10pt;"> </strong></font></td> <td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong style="font-family: 'times new roman', times; font-size: 10pt;">Indirect</strong><strong style="font-family: 'times new roman', times; font-size: 10pt;"></strong></font></td> <td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong style="font-family: 'times new roman', times; font-size: 10pt;"></strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong style="font-family: 'times new roman', times; font-size: 10pt;"> </strong></font></td> <td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong style="font-family: 'times new roman', times; font-size: 10pt;">Place of</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong style="font-family: 'times new roman', times; font-size: 10pt;"> </strong></font></td> <td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong style="font-family: 'times new roman', times; font-size: 10pt;">Date of</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong style="font-family: 'times new roman', times; font-size: 10pt;"> </strong></font></td> <td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong style="font-family: 'times new roman', times; font-size: 10pt;">Economic</strong><strong style="font-family: 'times new roman', times; font-size: 10pt;"></strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td nowrap="nowrap" style="font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong style="font-family: 'times new roman', times; font-size: 10pt;">Name</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</strong></font></td> <td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong style="font-family: 'times new roman', times; font-size: 10pt;">Incorporation</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</strong></font></td> <td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong style="font-family: 'times new roman', times; font-size: 10pt;">Incorporation</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong style="font-family: 'times new roman', times; font-size: 10pt;">Ownership</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; vertical-align: top; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong style="font-family: 'times new roman', times; font-size: 10pt;">Direct subsidiary:</strong></font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; vertical-align: top; font-family: 'times new roman'; padding: 0px;" width="50%"><font style="font-family: 'times new roman', times; font-size: 10pt;">Vimicro Corporation (&#147;Vimicro China&#148;)</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>PRC</font></font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">October, 1999</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">100</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td width="50%" style="text-align: left; vertical-align: top; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong style="font-family: 'times new roman', times; font-size: 10pt;">Direct subsidiaries of Vimicro China:</strong></font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; vertical-align: top; font-family: 'times new roman'; padding: 0px;" width="50%"><font style="font-family: 'times new roman', times; font-size: 10pt;">Viewtel Corporation(&#147;Viewtel&#148;)</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>United States of America</font></font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">June, 1999</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">100</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; vertical-align: top; font-family: 'times new roman'; padding: 0px;" width="50%"><font style="font-family: 'times new roman', times; font-size: 10pt;">Vimicro Electronics International Limited (&#147;Vimicro Hong Kong&#148;)</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>Hong Kong</font></font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">May, 2002</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">100</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; vertical-align: top; font-family: 'times new roman'; padding: 0px;" width="50%"><font style="font-family: 'times new roman', times; font-size: 10pt;">Vimicro Electronic Technology Corporation (&#147;Vimicro Beijing&#148;)</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>PRC</font></font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">April, 2007</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">100</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; vertical-align: top; font-family: 'times new roman'; padding: 0px;" width="50%"><font style="font-family: 'times new roman', times; font-size: 10pt;">Vimicro Electronics Corporation (&#147;Vimicro Tianjin&#148;)</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>PRC</font></font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">December,2008</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">50.01</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; vertical-align: top; font-family: 'times new roman'; padding: 0px;" width="50%"><font style="font-family: 'times new roman', times; font-size: 10pt;">Vimicro Guangdong Corporation (&#147;Vimicro Guangdong&#148;)</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>PRC</font></font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">March, 2014</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">100</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td width="50%" style="text-align: left; vertical-align: top; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong style="font-family: 'times new roman', times; font-size: 10pt;">Variable interest entity ("VIE") of Vimicro China:</strong></font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; vertical-align: top; font-family: 'times new roman'; padding: 0px;" width="50%"><font style="font-family: 'times new roman', times; font-size: 10pt;">Vimicro Sky-Vision Technology Corporation (&#147;Vimicro Sky-Vision&#148;)</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>PRC</font></font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">March,2010</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">100</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td width="50%" style="text-align: left; vertical-align: top; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong style="font-family: 'times new roman', times; font-size: 10pt;">Direct subsidiary of Vimicro Tianjin:</strong></font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; vertical-align: top; font-family: 'times new roman'; padding: 0px;" width="50%"><font style="font-family: 'times new roman', times; font-size: 10pt;">Guiyang Vimicro Electronics limited (&#147;Vimicro Guiyang&#148;)</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>PRC</font></font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">January, 2012</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">100</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td width="50%" style="text-align: left; vertical-align: top; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong style="font-family: 'times new roman', times; font-size: 10pt;">Direct subsidiary of Vimicro Beijing:</strong></font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; vertical-align: top; font-family: 'times new roman'; padding: 0px;" width="50%"><font style="font-family: 'times new roman', times; font-size: 10pt;">Jiangsu Vimicro Electronics limited&#160;&#160;(&#147;Vimicro Jiangsu&#148;)</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>PRC</font></font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">December, 2007</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">100</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td width="50%" style="text-align: left; vertical-align: top; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong style="font-family: 'times new roman', times; font-size: 10pt;">Direct subsidiary of Vimicro Guangdong:</strong></font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; vertical-align: top; font-family: 'times new roman'; padding: 0px;" width="50%"><font style="font-family: 'times new roman', times; font-size: 10pt;">Vimicro Fuzhou Corporation (&#147;Vimicro Fuzhou&#148;)</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>PRC</font></font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">July, 2012</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">100</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> </tr> </table> </div> </div> </div> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Vimicro China formed Vimicro Tianjin with the State-owned Asset Management Corporation of Tianjin Economic-Technological Development Area (&#147;Tianjin SAMC&#148;), and Beijing Zhongxing Tianshi Investment Center, or Vimicro Management Foundation (&#147;VMF&#148;) which is a venture capital fund managed by certain members of the Company's management. Vimicro China and Tianjin SAMC each holds <font>49.99</font>% ownership interest in Vimicro Tianjin. VMF holds a nominal ownership interest. Pursuant to the related agreements, Vimicro China obtained the voting rights and economic interests associated with VMF's current share ownership in Vimicro Tianjin, which provides Vimicro China control over Vimicro Tianjin. Accordingly, the Company consolidates Vimicro Tianjin. Vimicro Tianjin focuses on the design, manufacture and sale of digital video surveillance products.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.3pt; text-align: justify; text-indent: -14.3pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Pursuant to the agreement among Vimicro Tianjin's shareholders, VMF has the option to purchase all of Tianjin SAMC's ownership interest in Vimicro Tianjin for RMB<font>250</font> million plus bank rate interest. The option can be exercised at any time after <font>one</font> year of the establishment of Vimicro Tianjin. The Board of Directors of the Company approved this agreement on June 30, 2009. The Board of Directors also approved the agreement between Vimicro China and VMF on June 30, 2009, pursuant to which Vimicro China has an exclusive right to acquire the beneficial ownership up to the <font>250,000,000</font> shares held by VMF for the same consideration paid by VMF. If Vimicro China acquires the beneficial ownership, Vimicro China shall be entitled to the voting rights and the economic interests of the shares with VMF continuing to hold the title of these shares. Vimicro China through the beneficiary ownership, receives all of economic benefits from the option. Should Vimicro China exercise the beneficiary ownership right, it has been agreed that <font>15</font>% of Vimicro Tianjin's ownership interest will be reserved for an equity award scheme whereby the Company may make grants of equity awards at its discretion.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">On September 16, 2009, Vimicro Tianjin acquired the video surveillance system (&#147;ViSS&#148;) business from Alcatel-Lucent Shanghai Bell Co.,&#160;Ltd. (&#147;ASB&#148;). The ViSS provides a leading security and surveillance solution over telecommunication networks.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">On July 27, 2009, Vimicro China formed Shanghai Visiondigi Technology Co. Ltd. (&#147;Visiondigi&#148;) in Shanghai with <font>three</font> individuals. Vimicro China and the <font>three</font> individuals (&#147;Individual Shareholders of Visiondigi&#148;) contributed cash and intangible assets for <font>61.5</font>% and <font>38.5</font>% equity interest in Visiondigi, respectively. Visiondigi specializes in network video surveillance products and solutions. In January 2010, Ningbo Sunny Opotech Corporation Limited (&#147;Ningbo Sunny&#148;) invested RMB<font>20</font> million ($<font>2,900</font>) in Visiondigi. Vimicro China increased its shareholding for a consideration of RMB<font>9.85</font> million ($<font>1,400</font>). In April 2011, as per previous agreement between the shareholders, the shareholding percentage of the Individual Shareholders of Visiondigi as a group was reduced by <font>7</font>%, which was proportionately transferred to Vimicro China and Ningbo Sunny according to their cash amounts invested in March 2010. In March 2010, Vimicro China, Ningbo Sunny and the Individual Shareholders of Visiondigi increased their cash contribution with a total amount of RMB<font>10</font> million ($<font>1,500</font>) in proportion to each shareholding percentage, of which Vimicro China contributed RMB<font>5.3</font> million ($<font>800</font>). In July 2012, Ningbo Sunny increased its shareholding from <font>30.85</font>% to <font>34.79</font>% for a consideration of RMB<font>3.09</font> million ($<font>490</font>), the <font>three</font> individuals increased their shareholding from <font>15.89</font>% to <font>17.91</font>% for a consideration of RMB<font>1.59</font> million ($<font>250</font>), Vimicro China did not increase its shareholding. In July 2012, the Company disposed of <font>35.26</font>% of its equity interest in Visiondigi to an individual third party for RMB<font>310,686</font>. Following the disposal, the Company owns <font>18</font>% of Visiondigi, which includes <font>5.97</font>% held on behalf of other shareholders. The disposal transaction was completed in July 2012. The Company lost control of Visiondigi as a result of the disposal and also does not expect significant continuing involvement in the operations of Visiondigi. After the disposal, Visiondigi is regarded as a cost method equity investment by the Company and is no longer consolidated. Accordingly, the results of operations of Visiondigi have been shown as &#147;Discontinued Operations&#148; in the consolidated statements of comprehensive loss/income for the year ended December 31, 2012.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In 2010, Vimicro Sky-Vision which is a PRC legal entity was established by the CEO and President of the Company or individuals authorized by the Company. Through the aforementioned activities, Vimicro Sky-Vision is considered a VIE in accordance with U.S. GAAP. The Company consolidates the VIE in accordance with SEC Regulation S-X 3A-02, Accounting Standards Codification (&#147;ASC&#148;) 810,<i style="font-family: 'times new roman', times; font-size: 10pt;"> &#160; Consolidation</i> &#160; (&#147;ASC 810&#148;), because the Company holds all the variable interests of the VIE through Vimicro China, which is the primary beneficiary of the VIE. Despite the lack of majority ownership, there exists a parent-subsidiary relationship between the Company and VIE through the aforementioned agreements, whereby the equity holders of VIE effectively assigned all of their voting rights underlying their equity interest in the VIE to Vimicro China. In addition, through the other aforementioned agreements, the Company demonstrates its ability and intention to continue to exercise the ability to absorb substantially all of the profits and all of the expected losses of VIE. Please refer to Note 3&#151;&#147;VARIABLE INTEREST ENTITY&#148; for more details.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Vimicro Fuzhou, Vimicro Guiyang and Vimicro Guangdong focus on the design, manufacture and sales of security and surveillance products, as well as the execution and maintenance of local security and surveillance projects.&#160;In December 2014, Vimicro Guangdong acquired Vimicro Fuzhou from Vimicro China&#160;with a net carrying amount of RMB<font>46.7</font> million ($<font>7.6</font> million).</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In January 2012, in the effort to divest related land use rights, the Company entered into definitive agreements to transfer all of its equity interest in Vimicro High-Tech Corporation (&#147;Vimicro Shanghai&#148;) to Vimicro VMF Shanghai Corporation (&#147;VMF Shanghai&#148;), a directly wholly-owned subsidiary established in January 2012. The transaction was accounted for as a legal re-organization of entities under common control. In November 2012, the Company completed the disposal of the equity interest in VMF Shanghai to Vimicro Xingguang Corporation, which was partially owned by the senior executives of the Group until September 25, 2012, for a cash consideration of $<font>10,410</font> based upon a third party valuation report. A gain of $<font>1,133</font> was recognized in 2012 accordingly. Vimicro Shanghai held land use right to a parcel of undeveloped land that was originally planned to use for the non-core IC businesses. The Company determined that the sales of VMF Shanghai did not meet the criteria for presentation as a discontinued operation as VMF Shanghai did not meet the definition of a component of an entity.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Company held <font>100</font>% of the equity interest of Vimicro VMF Shenzhen Corporation (&#147;VMF Shenzhen&#148;), which was incorporated in the British Virgin Islands in January 12, 2012. VMF Shenzhen did not have any other asset except for <font>100</font>% of the equity of Vimicro Technology Corporation (&#147;Vimicro Shenzhen&#148;). Vimicro Shenzhen was established in Shenzhen, PRC, in November 2006 to facilitate domestic sales and perform research and development with an approved operating period of <font>twenty</font> years. In April 2013, after the approval by the audit committee and the special independent committee, the Company disposed the equity interest in VMF Shenzhen to Vimicro Management Zhongxing Tianshi Investment Corporation (&#147;Vimicro Tianshi&#148;), which was majority owned by certain senior executives of the Group, for a total consideration of $<font>10,000</font> based on a valuation performed by a third party appraiser. The transaction was considered an in-substance sales of real estate accounted for in accordance with ASC 360-20,<i style="font-family: 'times new roman', times; font-size: 10pt;"> Property, Plant and Equipment &#151; Real Estate Sales</i> . Due to insufficient initial investment made by Vimicro Tianshi, a sale was not consummated as of December 31, 2013 and was accounted for using the cost recovery method. During the year ended December 31, 2013, the Group transferred the ownership of VMF Shenzhen and received $<font>5,000</font> of consideration. Accordingly, the Group deconsolidated VMF Shenzhen and the outstanding consideration of $<font>5,000</font> was recorded as an amount due from related party at December 31, 2013. The related disposal gain is deferred until receipt of the full consideration. In January 2014 and April 2014, the Company received $<font>3,800</font> and $<font>1,200</font>, respectively.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">There have been no significant operations in Vimicro Beijing and Vimicro Jiangsu since their establishment.</font></p> </div> </div> 2012-07-31 2007-12-31 2012-01-31 2010-03-31 2014-03-31 2008-12-31 2007-04-30 <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div style="font-family: 'times new roman', times; font-size: 10pt;"> <div style="display: block;"> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong style="font-family: 'times new roman', times; font-size: 10pt;"> </strong></font></td> <td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong style="font-family: 'times new roman', times; font-size: 10pt;">Percentage</strong><strong style="font-family: 'times new roman', times; font-size: 10pt;"></strong></font></td> <td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong style="font-family: 'times new roman', times; font-size: 10pt;"></strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong style="font-family: 'times new roman', times; font-size: 10pt;"> </strong></font></td> <td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong style="font-family: 'times new roman', times; font-size: 10pt;">of Direct or</strong><strong style="font-family: 'times new roman', times; font-size: 10pt;"></strong></font></td> <td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong style="font-family: 'times new roman', times; font-size: 10pt;"></strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong style="font-family: 'times new roman', times; font-size: 10pt;"> </strong></font></td> <td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong style="font-family: 'times new roman', times; font-size: 10pt;">Indirect</strong><strong style="font-family: 'times new roman', times; font-size: 10pt;"></strong></font></td> <td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong style="font-family: 'times new roman', times; font-size: 10pt;"></strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong style="font-family: 'times new roman', times; font-size: 10pt;"> </strong></font></td> <td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong style="font-family: 'times new roman', times; font-size: 10pt;">Place of</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong style="font-family: 'times new roman', times; font-size: 10pt;"> </strong></font></td> <td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong style="font-family: 'times new roman', times; font-size: 10pt;">Date of</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong style="font-family: 'times new roman', times; font-size: 10pt;"> </strong></font></td> <td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong style="font-family: 'times new roman', times; font-size: 10pt;">Economic</strong><strong style="font-family: 'times new roman', times; font-size: 10pt;"></strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td nowrap="nowrap" style="font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong style="font-family: 'times new roman', times; font-size: 10pt;">Name</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</strong></font></td> <td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong style="font-family: 'times new roman', times; font-size: 10pt;">Incorporation</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</strong></font></td> <td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong style="font-family: 'times new roman', times; font-size: 10pt;">Incorporation</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong style="font-family: 'times new roman', times; font-size: 10pt;">Ownership</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; vertical-align: top; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong style="font-family: 'times new roman', times; font-size: 10pt;">Direct subsidiary:</strong></font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; vertical-align: top; font-family: 'times new roman'; padding: 0px;" width="50%"><font style="font-family: 'times new roman', times; font-size: 10pt;">Vimicro Corporation (&#147;Vimicro China&#148;)</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>PRC</font></font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">October, 1999</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">100</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td width="50%" style="text-align: left; vertical-align: top; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong style="font-family: 'times new roman', times; font-size: 10pt;">Direct subsidiaries of Vimicro China:</strong></font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; vertical-align: top; font-family: 'times new roman'; padding: 0px;" width="50%"><font style="font-family: 'times new roman', times; font-size: 10pt;">Viewtel Corporation(&#147;Viewtel&#148;)</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>United States of America</font></font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">June, 1999</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">100</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; vertical-align: top; font-family: 'times new roman'; padding: 0px;" width="50%"><font style="font-family: 'times new roman', times; font-size: 10pt;">Vimicro Electronics International Limited (&#147;Vimicro Hong Kong&#148;)</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>Hong Kong</font></font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">May, 2002</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">100</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; vertical-align: top; font-family: 'times new roman'; padding: 0px;" width="50%"><font style="font-family: 'times new roman', times; font-size: 10pt;">Vimicro Electronic Technology Corporation (&#147;Vimicro Beijing&#148;)</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>PRC</font></font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">April, 2007</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">100</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; vertical-align: top; font-family: 'times new roman'; padding: 0px;" width="50%"><font style="font-family: 'times new roman', times; font-size: 10pt;">Vimicro Electronics Corporation (&#147;Vimicro Tianjin&#148;)</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>PRC</font></font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">December,2008</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">50.01</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; vertical-align: top; font-family: 'times new roman'; padding: 0px;" width="50%"><font style="font-family: 'times new roman', times; font-size: 10pt;">Vimicro Guangdong Corporation (&#147;Vimicro Guangdong&#148;)</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>PRC</font></font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">March, 2014</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">100</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td width="50%" style="text-align: left; vertical-align: top; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong style="font-family: 'times new roman', times; font-size: 10pt;">Variable interest entity ("VIE") of Vimicro China:</strong></font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; vertical-align: top; font-family: 'times new roman'; padding: 0px;" width="50%"><font style="font-family: 'times new roman', times; font-size: 10pt;">Vimicro Sky-Vision Technology Corporation (&#147;Vimicro Sky-Vision&#148;)</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>PRC</font></font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">March,2010</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">100</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td width="50%" style="text-align: left; vertical-align: top; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong style="font-family: 'times new roman', times; font-size: 10pt;">Direct subsidiary of Vimicro Tianjin:</strong></font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; vertical-align: top; font-family: 'times new roman'; padding: 0px;" width="50%"><font style="font-family: 'times new roman', times; font-size: 10pt;">Guiyang Vimicro Electronics limited (&#147;Vimicro Guiyang&#148;)</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>PRC</font></font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">January, 2012</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">100</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td width="50%" style="text-align: left; vertical-align: top; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong style="font-family: 'times new roman', times; font-size: 10pt;">Direct subsidiary of Vimicro Beijing:</strong></font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; vertical-align: top; font-family: 'times new roman'; padding: 0px;" width="50%"><font style="font-family: 'times new roman', times; font-size: 10pt;">Jiangsu Vimicro Electronics limited&#160;&#160;(&#147;Vimicro Jiangsu&#148;)</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>PRC</font></font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">December, 2007</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">100</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td width="50%" style="text-align: left; vertical-align: top; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong style="font-family: 'times new roman', times; font-size: 10pt;">Direct subsidiary of Vimicro Guangdong:</strong></font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; vertical-align: top; font-family: 'times new roman'; padding: 0px;" width="50%"><font style="font-family: 'times new roman', times; font-size: 10pt;">Vimicro Fuzhou Corporation (&#147;Vimicro Fuzhou&#148;)</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>PRC</font></font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; vertical-align: top; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">July, 2012</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">100</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> </tr> </table> </div> </div> </div> </div> 0.4999 10410000 PRC United States of America Hong Kong PRC PRC PRC PRC PRC PRC PRC 2002-05-31 1999-06-30 1999-10-31 46700000 7600000 0.001 2000 0.001 8000 0.1803 0.1203 0.49 0.02 4439000 468000 11809000 1372000 3552000 2 0.75 0.25 0.32 0.68 0.15 0.85 10 0.91 0.82 0.89 0.33 0.56 0.63 0.26 0.13 0.11 0.07 0.02 25694000 0.33 0.09 0.11 721000 21000 3700000 P5Y P2Y P5Y P3Y P5Y P50Y 2 370000 369000 P1Y P5Y P30D P90D 13300000 9000000 29600000 301000 365000 685000 3700000 3863000 4358000 0.10 0.50 0.10 0.50 4370516 17090420 24544023 14640968 <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div class="CursorPointer"> <table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt; font-size-adjust: none; font-stretch: normal;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: top;"> <td style="width: 0.33in; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>2.</b></font></td> <td style="text-align: justify; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</b></font></td> </tr> </table> </div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Basis of presentation</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The consolidated financial statements of the Group have been prepared in accordance with accounting principles generally accepted in the United States (&#147;US GAAP&#148;)and on a going concern basis with the ownership interests of minority shareholders reported as noncontrolling interests.</font></p> </div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Principles of consolidation</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The consolidated financial statements of the Group include the financial statements of the Company and its controlled operating entities including that majority owned subsidiaries and the VIE.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">All intercompany transactions and balances have been eliminated upon consolidation.</font></p> </div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Long-term Investments</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Company's long-term investment only consists of cost method investment. In accordance with ASC subtopic 325-20 (&#147;ASC 325-20&#148;), <i>Investments-Other: Cost Method Investments</i>, for investments in an investee over which the Company does not have significant influence and which do not have readily determinable fair value, the Company carries the investment at cost and only adjusts for other-than-temporary declines in fair value and distributions of earnings that exceed the Company's share of earnings since its investment. Management regularly evaluates the impairment of the cost method investments based on performance and financial position of the investee as well as other evidence of market value. Such evaluation includes, but is not limited to, reviewing the investee's cash position, recent financing, projected and historical financial performance, cash flow forecasts and financing needs. An impairment loss is recognized in earnings equal to the excess of the investment's cost over its fair value at the balance sheet date of the reporting period for which the assessment is made. The fair value then becomes the new cost basis of investment.<br/><br/></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The&#160;Group held <font>0.1</font>% equity interest in Vimicro Wuxi with a carrying amount of $<font>2</font> as of December 31, 2012. The Group disposed <font>0.1</font>% equity interest of Vimicro Wuxi in September 2013 for $<font>8</font> to VMF Consulting Company. The Group beneficially held <font>18.03</font>% equity interest in Vimicro Qingdao and held <font>12.03</font>% equity interest in Visiondigi The investment in Vimicro Qingdao and Visiondigi were fully impaired as of December 31, 2012.</font></p> </div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <div style="display: block;"> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Investment in an equity investee</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>&#160;</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Investments in entities over which the Group holds between 20% and 50% of the equity interest, or over which the Group has significant influence but does not control are accounted for using the equity method of accounting <font style="font: 13.33px/normal 'Times New Roman', Times, serif; text-align: justify; color: #000000; text-transform: none; text-indent: 32px; letter-spacing: normal; word-spacing: 0px; float: none; display: inline !important; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">in accordance with ASC topic 323, </font><i style="text-align: justify; color: #000000; text-transform: none; line-height: normal; text-indent: 32px; letter-spacing: normal; font-family: 'Times New Roman', Times, serif; font-size: 13.33px; font-variant: normal; font-weight: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">Investments-Equity Method and Joint Ventures</i>. Equity method of accounting involves recognizing the Group's share of the profit or loss for the year in the consolidated statements of comprehensive loss/income.When the Group's share of losses in an investment in an equity investee equals or exceeds its interest in the equity investee, the Group does not recognize further losses, unless it has incurred obligations or made payments on behalf of the equity investee, which to date the Group has not. In September 2012, Vimicro China made an investment in and established Zhongtianxin Science and Technology Co.,&#160;Ltd. (&#147;Zhongtianxin&#148;) with Shanxi Guoxin Investment (Group) Corporation. The Group directly holds <font>49</font>% of equity interest in Zhongtianxin and an additional <font>2</font>% of equity interest is held by VMF Consulting Company on behalf of Vimicro China as a nominee shareholder. As the noncontrolling shareholder has substantive participating rights including the approval of the annual budget, operation and investment plan, appointment, dismissal and remuneration of the board of directors and the general manager according to the Articles of Association of Zhongtianxin, the Company does not have control over Zhongtianxin. Therefore, the Company adopts the equity method to account for the investment in Zhongtianxin.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Company made cash investments of $<font>4,439</font>, $<font>468</font>&#160;and <font>nil</font> in Zhongtianxin for the years ended December 31, 2012, 2013 and 2014 respectively, and also contributed intellectual properties (&#147;IPs&#148;) with a fair value of $<font>11,809</font>, as determined by a third party&#160;appraiser, to Zhongtianxin as part of its investment during the year ended December 31, 2013. All the IPs contributed by the Company to Zhongtianxin was developed by the Group and the related historical research and development expenditures to develop the IPs were fully expensed in the Group's historical consolidated financial statements. As a result, the Group recorded the contribution of the IPs to Zhongtianxin at carrying amount, which was nil. The Group recognized its share of profit of $<font>1,372</font>&#160;and $<font>3,552</font>&#160;(adjusted for basis differences between the Group's cost and the underlying equity in net assets of Zhongtianxin and elimination of intra-entity profits&#160;<font style="font: 13.33px/normal 'Times New Roman', Times, serif; text-align: justify; color: #000000; text-transform: none; text-indent: 30.53px; letter-spacing: normal; word-spacing: 0px; float: none; display: inline !important; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">or losses on assets still remaining on the books of the investor</font>) in the consolidated statements of comprehensive income/(loss) for the years ended December 31, 2013 and 2014, respectively.&#160;<font style="font: 13.33px/normal 'Times New Roman', Times, serif; text-align: justify; color: #000000; text-transform: none; text-indent: 30.53px; letter-spacing: normal; word-spacing: 0px; float: none; display: inline !important; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">The Group's gross profit has eliminated intra-entity revenue and cost that remain on the books of the investee as at year end. When the investment in an equity investee is reduced to zero, elimination of intra-entity profits will be recognized in deferred income from equity investee.</font><br/><br/>&#160; &#160; &#160; &#160;&#160;&#160;&#160;&#160;&#160;The following table summarizes information regarding the deferred income from equity investee as of December 31, 2013 and 2014, which is included on the consolidated balance sheets:<br/></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <table style="width: 100%; border-collapse: collapse;" cellspacing="0" cellpadding="0" width="100%"> <tr style="vertical-align: bottom;"> <td style="font-size: 10pt;">&#160;</td> <td style="font: bold 10pt/normal Times New Roman, Times, Serif; padding-bottom: 1pt; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: bold 10pt/normal Times New Roman, Times, Serif; text-align: center; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; font-size-adjust: none; font-stretch: normal;" colspan="6">As&#160;of&#160;December&#160;31</td> <td style="font: bold 10pt/normal Times New Roman, Times, Serif; padding-bottom: 1pt; font-size-adjust: none; font-stretch: normal;">&#160;</td> </tr> <tr style="vertical-align: bottom;"> <td style="font-size: 10pt;">&#160;</td> <td style="font: bold 10pt/normal Times New Roman, Times, Serif; padding-bottom: 1pt; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: bold 10pt/normal Times New Roman, Times, Serif; text-align: center; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; font-size-adjust: none; font-stretch: normal;" colspan="2">2013</td> <td style="font: bold 10pt/normal Times New Roman, Times, Serif; padding-bottom: 1pt; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: bold 10pt/normal Times New Roman, Times, Serif; padding-bottom: 1pt; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: bold 10pt/normal Times New Roman, Times, Serif; text-align: center; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; font-size-adjust: none; font-stretch: normal;" colspan="2">2014</td> <td style="font: bold 10pt/normal Times New Roman, Times, Serif; padding-bottom: 1pt; font-size-adjust: none; font-stretch: normal;">&#160;</td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="font: 10pt/normal Times New Roman, Times, Serif; width: 70%; text-align: left; font-size-adjust: none; font-stretch: normal;">Investment in original cost</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; width: 1%; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; width: 1%; text-align: left; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; width: 12%; text-align: right; font-size-adjust: none; font-stretch: normal;"><font>4,921</font></td> <td style="font: 10pt/normal Times New Roman, Times, Serif; width: 1%; text-align: left; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; width: 1%; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; width: 1%; text-align: left; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; width: 12%; text-align: right; font-size-adjust: none; font-stretch: normal;"><font>4,903</font></td> <td style="font: 10pt/normal Times New Roman, Times, Serif; width: 1%; text-align: left; font-size-adjust: none; font-stretch: normal;">&#160;</td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="font: 10pt/normal Times New Roman, Times, Serif; text-align: left; font-size-adjust: none; font-stretch: normal;">Accumulated gain&#160;on equity investment</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; text-align: left; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; text-align: right; font-size-adjust: none; font-stretch: normal;"><font>1,876</font></td> <td style="font: 10pt/normal Times New Roman, Times, Serif; text-align: left; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; text-align: left; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; text-align: right; font-size-adjust: none; font-stretch: normal;"><font>5,297</font></td> <td style="font: 10pt/normal Times New Roman, Times, Serif; text-align: left; font-size-adjust: none; font-stretch: normal;">&#160;</td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="font: 10pt/normal Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; font-size-adjust: none; font-stretch: normal;">Deferred gross profit on equity investment*</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; padding-bottom: 1pt; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; text-align: left; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; text-align: right; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; font-size-adjust: none; font-stretch: normal;"><font>(2,003</font></td> <td style="font: 10pt/normal Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; font-size-adjust: none; font-stretch: normal;">)</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; padding-bottom: 1pt; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; text-align: left; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; text-align: right; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; font-size-adjust: none; font-stretch: normal;"><font>(16,384</font></td> <td style="font: 10pt/normal Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; font-size-adjust: none; font-stretch: normal;">)</td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="padding-bottom: 2.5pt; font-size: 10pt;">&#160;</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; padding-bottom: 2.5pt; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; text-align: left; border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; text-align: right; border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double; font-size-adjust: none; font-stretch: normal;"><font>4,794</font></td> <td style="font: 10pt/normal Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; padding-bottom: 2.5pt; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; text-align: left; border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; text-align: right; border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double; font-size-adjust: none; font-stretch: normal;"><font>(6,184</font></td> <td style="font: 10pt/normal Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt; font-size-adjust: none; font-stretch: normal;">)</td> </tr> </table> <div> <div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <table border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td style="width: 2%; text-align: right;"><br/></td> <td style="width: 2%; vertical-align: top;" valign="bottom">*</td> <td style="width: 96%;"> <div><font style="font-family: 'times new roman', times; font-size: 10pt;">The difference of revenue recognition point between the Company and Zhongtianxin, the Company eliminated its intra-entity of 51% interest in the voting common stock of Zhongtianxin.</font></div> </td> </tr> </table> </div> </div> </div> </div> </div> <div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> </div> <div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Use of estimates</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The preparation of the consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.&#160;Significant accounting estimates reflected in the Group's consolidated financial statements mainly include useful lives of property, equipment and software and other long-lived assets, recognition and measurement of deferred tax assets and uncertain tax positions, provision for doubtful accounts, write-down of inventories, share-based compensation expenses, estimated selling price for multiple element deliverables, impairment of long-lived assets and equity method investment. The actual results experienced by the Group may differ from management estimate.</font></p> </div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Concentration of risks</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Group's operating results are significantly dependent on its ability to develop and market products. The Group faces rapid technology advancement which requires the Group to continually improve the performance, features and reliability of its products. Inability of the Group to successfully develop and market its products as a result of competition or other factors would have a material adverse effect on the Group's business, financial condition and results of operations.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Group operates in <font>two</font> segments: video processor business and video surveillance solution business. Revenues from the video processor business and video surveillance solution business accounted for <font>75</font>% and <font>25</font>%, <font>32</font>% and <font>68</font>%, <font>15</font>% and <font>85</font>% of total revenue for the years ended December 31, 2012, 2013 and 2014, respectively.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Group depends on a few key customers for the majority of its sales, and the loss of or a significant reduction in orders from any of these customers would have a material adverse impact on its operating results. For the years ended December 31, 2012, 2013 and 2014, the top <font>ten</font> customers accounted for <font>91</font>%, <font>82</font>% and <font>89</font>% of total product revenue, respectively. The Group cannot assure that these customers will continue to purchase products from the Group.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The following table summarizes the customers who accounted for more than 10% of the total revenue of the Group for the years ended December 31, 2012, 2013 and 2014:</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <div style="display: block;"> <div class="CursorPointer"> <table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; border-collapse: collapse; font-size-adjust: none; font-stretch: normal;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td style="padding: 0px; text-align: center; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;" colspan="10" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Years ended December 31</strong></font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td style="padding: 0px; text-align: center; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2012</strong></font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="padding: 0px; text-align: center; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2013</strong></font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="padding: 0px; text-align: center; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2014</strong></font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="padding: 0px; width: 60%; text-align: left; font-family: 'times new roman'; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">Customer Z</font></td> <td style="width: 0%; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);"></td> <td style="padding: 0px; width: 0%; text-align: left; font-family: 'times new roman'; background-color: rgb(204, 238, 255);"></td> <td style="padding: 0px; width: 10%; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="width: 0%; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding: 0px; background-color: rgb(204, 238, 255);"><font><font style="font-size: 13.33px;">%</font></font></td> <td style="width: 0%; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; width: 0%; text-align: left; font-family: 'times new roman'; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; width: 10%; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">33</font></font></td> <td style="padding: 0px; width: 0%; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> <td style="width: 0%; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; width: 0%; text-align: left; font-family: 'times new roman'; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; width: 10%; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">56</font></font></td> <td style="padding: 0px; width: 0%; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> </tr> <tr style="vertical-align: bottom;"> <td style="padding: 0px; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Customer P</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">63</font></font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> <td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">26</font></font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> <td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">13</font></font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="padding: 0px; text-align: left; font-family: 'times new roman'; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">Customer S</font></td> <td style="font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman'; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">11</font></font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> <td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">7</font></font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> <td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">2</font></font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> </tr> </table> </div> </div> </div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Customer P belongs to the video processor business and Customers S and Z belong to the video surveillance solution business for the years ended December 31, 2012, 2013 and 2014, respectively.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Group relies on a few foundries for wafers and several companies for assembly and testing services for the existing products. The ability of each foundry to provide wafers is limited by the foundry's available capacity. Moreover, the price of wafers may fluctuate based on the available industry capacity. The Group does not have long-term supply contracts with any of these foundries or assembly and testing houses. Therefore, the Group cannot be certain that these foundries and assembly and testing houses will allocate sufficient capacity to satisfy its requirements. If the Group is not able to obtain the necessary foundry capacity and assembly and testing capacity to produce the required volume for its customers in a timely manner, both its relationships with the customers and operating results would be adversely affected.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt; text-decoration: underline;">Concentration of credit risks</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Financial instruments that are potentially subject to credit risk consist of cash and cash equivalents, restricted cash and accounts receivable. Deposits held with financial institutions are not protected by statutory or commercial insurance. In the event of bankruptcy of <font>one</font> of these financial institutions, the Company may be unlikely to claim its deposits back in full. The Company continues to monitor the financial strength of the financial institutions. The Company had $<font>25,694</font> in cash and cash equivalents and restricted cash as of December 31, 2014.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">As of December 31, 2014, accounts receivables are typically unsecured and are derived from revenue earned from customers. The risk is mitigated by credit evaluations the Group performs on its customers' financial conditions and ongoing monitoring process of outstanding balances.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The following table summarizes the customers who accounted for more than 10% of the total accounts receivables as of December 31, 2013 and 2014:</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <div style="display: block;"> <div class="CursorPointer"> <table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; border-collapse: collapse; font-size-adjust: none; font-stretch: normal;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td style="padding: 0px; text-align: center; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;" colspan="6" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>As of December 31</strong></font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td style="padding: 0px; text-align: center; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2013</strong></font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="padding: 0px; text-align: center; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2014</strong></font></td> <td style="padding: 0px; text-align: center; font-family: 'times new roman'; width: 20px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="padding: 0px; width: 80%; text-align: justify; font-family: 'times new roman'; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Customer S</font></td> <td style="width: 0%; font-family: 'Times New Roman'; background-color: #cceeff;"></td> <td style="padding: 0px 5px; width: 0%; text-align: left; font-family: 'times new roman'; background-color: rgb(204, 238, 255);"></td> <td style="padding: 0px; width: 10%; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">33</font></font></td> <td style="padding: 0px; width: 0%; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> <td style="width: 0%; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; white-space: nowrap; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; width: 0%; text-align: left; font-family: 'times new roman'; white-space: nowrap; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; width: 10%; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">9</font></font></td> <td style="padding: 0px; width: 0%; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> </tr> <tr style="vertical-align: bottom;"> <td style="padding: 0px; text-align: justify; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Customer D</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">11</font></font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> </tr> </table> </div> </div> </div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt; text-decoration: underline;">Currency convertibility risks</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The RMB is not freely convertible into foreign currency. The PRC State Administration for Foreign Exchange, under the authority of the People's Bank of China, controls the conversion of RMB into foreign currencies. The value of the RMB is subject to changes in central government policies and to international economic and political developments affecting supply and demand in the PRC foreign exchange trading system market.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt; text-decoration: underline;">Foreign currency exchange risks</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The value of the RMB against the U.S. dollar and other currencies may fluctuate and is affected by, among other things, changes in China's political and economic conditions and China's foreign exchange policies. Under the current policy, the RMB is permitted to fluctuate within a narrow and managed band against a basket of certain foreign currencies.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">This change in policy has resulted in an appreciation of the RMB against the U.S. dollar in recent years.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Majority of the Group's revenue, cost of revenue and most of operating expenses are denominated in RMB, while a portion of non-operating expenses are denominated in U.S. dollars and Hong Kong dollars, which is pegged to the U.S. dollar. The Group uses the U.S. dollar as the reporting currency for its financial statements. Fluctuations in exchange rates, primarily those involving the U.S. dollar, may affect the Group's costs and operating margins as well as its net loss/income and comprehensive loss/income reported in U.S. dollars.</font></p> </div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Fair value measurements</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">ASC topic 820 (&#147;ASC 820&#148;),<i>Fair value measurement and Disclosure</i> defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, the Group considers the principal or most advantageous market in which it would transact and it considers assumptions that market participants would use when pricing the asset or liability.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Level 1&#160;&#151; Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Level 2&#160;&#151; Other inputs that are directly or indirectly observable in the marketplace.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Level 3&#160;&#151; Unobservable inputs which are supported by little or no market activity.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Group's financial instruments include cash and cash equivalents, restricted cash, accounts receivable, other current assets, long-term investment, amounts due from/to related parties, accounts payable, customer advances and long-term bank loans. The carrying amounts of the Group's cash and cash equivalents, restricted cash, accounts receivable, amounts due from/to related parties, accounts payable, customer advances and accrued expenses and other current liabilities approximated their fair values as of the balance sheet dates due to the short maturity of those instruments. The carrying amounts of the Group's long-term investment approximated its fair values as of the balance sheet date due to the long maturity of this instrument. The fair value of long-term bank loans are estimated based on the discounted value of future contractual cash flows which approximates their carrying value due to the fact they are predominately stated at variable rates. These assets and liabilities, excluding cash and cash equivalents (which fall into level 1 of the fair value hierarchy), fall into level 2 of the fair value hierarchy.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">There were no non-recurring and recurring fair value measurements as of December 31, 2013 and 2014.</font></p> </div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Cash and cash equivalents</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Cash and cash equivalents represent cash on hand and deposits that mature within <font>three</font> months placed with banks or other financial institutions, which are payable on demand.</font></p> </div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Restricted cash</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Restricted cash balances comprise cash in bank balances, which are restricted as to withdrawal or usage under the terms of certain contracts or under bank regulations.</font></p> </div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Accounts receivable and provision for doubtful accounts</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The carrying value of accounts receivable is stated at the amount the Group expects to collect. Provisions are made against accounts receivable to the extent that collection is considered to be doubtful. Many factors are considered in estimating the provision, including aging, customer credit, and current economic trends. The provision for doubtful accounts charged for the years ended December 31, 2012, 2013 and 2014 was $<font>721</font>, $<font>21</font> and $<font>3,700</font>, respectively. Accounts receivable in the consolidated balance sheets are stated net of such provision, if any.</font></p> </div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Inventories</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Inventories are stated at the lower of cost or market. The cost is computed on a weighted-average basis. Cost of work in progress and finished goods are comprised of direct materials, direct labor and related manufacturing overhead based on normal operating capacity. Adjustments are made to write down excess or obsolete inventories to their estimated realizable values.</font></p> </div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Property, equipment and software, net</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 23.85pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Property, equipment and software are stated at cost less accumulated depreciation and impairment.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 23.85pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Property, equipment and software are depreciated over their estimated useful lives on a straight line basis. Estimated residual values are nil. The estimated useful lives are as follows:</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; border-collapse: collapse; font-size-adjust: none; font-stretch: normal;" cellspacing="0" cellpadding="0" width="100%"> <tr style="vertical-align: bottom;"> <td style="width: 36%; text-align: justify; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="width: 4%; text-align: justify; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="width: 60%; text-align: center; font-family: 'times new roman'; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>Estimated&#160;useful&#160;lives</b></font></td> </tr> <tr> <td style="text-align: left; font-family: 'times new roman'; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr> <td style="text-align: justify; font-family: 'times new roman'; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Equipment and office furniture</font></td> <td style="text-align: justify; font-family: 'times new roman'; vertical-align: bottom;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: justify; font-family: 'times new roman'; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>5</font> years</font></td> </tr> <tr> <td style="text-align: justify; font-family: 'times new roman'; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Mask and tooling</font></td> <td style="text-align: justify; font-family: 'times new roman'; vertical-align: bottom;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: justify; font-family: 'times new roman'; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>2</font> years</font></td> </tr> <tr> <td style="text-align: justify; font-family: 'times new roman'; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Motor vehicles</font></td> <td style="text-align: justify; font-family: 'times new roman'; vertical-align: bottom;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: justify; font-family: 'times new roman'; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>5</font> years</font></td> </tr> <tr> <td style="text-align: justify; font-family: 'times new roman'; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Purchased software</font></td> <td style="text-align: justify; font-family: 'times new roman'; vertical-align: bottom;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: justify; font-family: 'times new roman'; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>3</font> to <font>5</font> years</font></td> </tr> <tr> <td style="font-family: 'times new roman'; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Leasehold improvements</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: justify; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Lesser of the lease term or the estimated useful lives of the assets</font></td> </tr> </table> </div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Expenditures for maintenance and repairs are expensed as incurred.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The gain or loss on the disposal of property, equipment and software is the difference between the net sales proceeds and the carrying amount of the relevant assets and is recognized in the consolidated statements of comprehensive loss/income.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><br/></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;">All direct and indirect costs that are related to the construction of fixed assets and incurred before the assets are ready for their intended use are capitalized as construction in progress. Interest expense incurred for qualifying assets are capitalized in accordance with ASC 835-20,<i> Capitalization of Interest</i>.</p> </div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Long-lived assets to be disposed of and discontinued operations</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Group accounts for a long-lived asset or disposal group to be sold in accordance with ASC 360-10,<i> Property, Plant and Equipment: Overall</i> (&#147;ASC 360-10&#148;) where such long-lived asset or disposal group is classified as held for sale in the period in which all six criteria are met: (1)&#160;a plan to sell the asset has been committed to by management; (2)&#160;the asset can be sold in its current condition; (3)&#160;an active plan has been initiated to find a buyer; (4)&#160;it is probable that the asset will be sold and the sale will be completed within <font>one</font> year and will qualify as a completed sale; (5)&#160;the sales price is reasonable relative to the asset's current fair value and the entity is actively marketing the asset; and (6)&#160;it is unlikely that the plan to sell the asset will be withdrawn or changed significantly.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">A long-lived asset or disposal group classified as held for sale is measured at the lower of its carrying amount or fair value less cost to sell, and it is presented separately on the balance sheet. Long-lived assets reclassified as held for sale are not depreciated or amortized. The fair value less cost to sell of the long-lived asset or disposal group is evaluated at each end of reporting period. As of December 31, 2013 and 2014, there was <font>no</font> long-lived asset or disposal group classified as held for sale.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Group follows ASC 205-20,<i> Presentation of Financial Statements: Discontinued Operations</i> in its accounting for a component of the Company that has been disposed of or is classified as held for sale and has operations and cash flows that can be clearly distinguished from the rest of the Company. Such component is reported as discontinued operations when the operations and cash flow of the components have been or will be eliminated from the Group as a result of disposal and the Group will not have any significant involvement in the operation of the component after the disposal. In the period in which a component has been disposed of or classified as held for sale, the results of operations, including any gain or loss after tax recognized in accordance with ASC 360-10, less applicable income taxes, for the periods presented are reclassified into line items of income separately from net income (loss) from continuing operations before extraordinary items (if applicable), in the consolidated statements of comprehensive loss/income.</font></p> </div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Land use rights</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Land use rights include prepayments towards acquisition and land use rights acquired. Land use rights acquired are stated at cost less accumulated amortization and impairment loss. Land use rights are amortized on a straight-line basis over their useful lives of up to <font>50</font> years.</font></p> </div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Golf memberships</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Company holds <font>two</font> lifetime golf memberships with a total carrying amount of $<font>370</font> and $<font>369</font>&#160;at December 31, 2013 and 2014, respectively, recorded as other non-current assets. Lifetime golf memberships have an indefinite useful life and are not amortized, instead, they are tested for impairment annually or more frequently if events or changes in circumstances indicate that it is more likely than not that the assets are impaired. <font>No</font> impairment charges were recognized for the periods presented.</font></p> </div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Product warranty</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Group provides warranty on its product sales for a period generally ranging from <font>one</font> to <font>five</font> years from the time of final acceptance or goods delivery. The Company provides for the expected cost of product warranties at the time that revenue is recognized based on an assessment of past warranty experience and specific circumstances.</font></p> </div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Impairment of long-lived assets</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><i>Impairment of property, equipment and software<b> </b>and land use rights</i></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Group evaluates its property, equipment and software<b> </b>and land use rights or asset group whenever events or changes in circumstances (such as a significant adverse change to market conditions that will impact the future use of the assets) indicate that the carrying amount of property, equipment and software<b> </b>and land use rights may not be fully recoverable. When these events occur, the Group determines whether there is impairment by comparing the carrying amount of the assets or asset group to future undiscounted cash flows expected to result from the use of the assets and their eventual disposition. If the sum of the expected undiscounted cash flows is less than the carrying amount of the assets or asset group, the Group recognizes an impairment loss based on the excess of the carrying amount of the asset group over its fair value, generally based upon discounted cash flows.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><i>&#160;</i></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><i>Impairment of investment in an equity investee</i></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Group reviews its investments for other-than-temporary impairment whenever events or changes in business circumstances indicate that the carrying value of the investment may not be fully recoverable. Investments identified as having an indication of impairment are subject to further analysis to determine if the impairment is other-than-temporary and this analysis requires estimating the fair value of the investment. In making this determination, the Company reviews several factors to determine whether the losses are other-than-temporary, including but not limited to: (i)&#160;the length of time the investment was in an unrealized loss position, (ii)&#160;the extent to which fair value was less than cost, (iii)&#160;the financial condition and near term prospects of the issuer, and (iv)&#160;the Company's intent and ability to hold the investment for a period of time sufficient to allow for any anticipated recovery in fair value. The determination of fair value of the investment involves considering factors such as current economic and market conditions, the operating performance of the companies including current earnings trends and forecasted cash flows, and other company and industry specific information.</font></p> </div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>&#160;</b></font></p> <div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Revenue recognition</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Group recognizes revenue from the sales of products and rendering of services when the earnings process has been completed and all revenue recognition criteria has been met persuasive evidence for an arrangement exists, delivery of products and/or services and transfer of title has occurred, the selling price is both fixed and determinable and collectability is reasonably assured, as prescribed by ASC 605,<i> Revenue recognition</i> (&#147;ASC 605&#148;).</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><i>Video processors</i></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Video&#160;processor revenue derives from PC and embedded notebook camera video&#160;processors, image sensors, and other products. Revenues related to video&#160;processors are generally recorded net of business taxes and related surcharges provided all revenue recognition criteria have been met.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Company uses distributors for sales of video&#160;processors. The Company enters into generally short term arrangements with its distributors, which on rare occasions may include certain obligations of the Company such as acceptance or price protection clauses. The distributors make full payment prior to shipping or enjoy credit terms from <font>30</font> to <font>90</font> days. The Company does not have a history of providing refunds, discounts or other price concessions in connection with price protection clauses that the Company may provide to a distributor. The Company believes that such provisions are within the control of the Company and expects any benefits provided to the distributor to be insignificant. As such, the Company believes that it is able to reasonably estimate price concessions as remote, such that the price is fixed and determinable and revenue is recognized upon delivery of the product. When the Company provides an acceptance provision to a distributor, revenue is not recognized until acceptance has been received. The Company does not have any other post shipment obligations.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The cost of video processor revenue primarily consists of costs associated with the fabrication of wafers, assembly, testing and shipping of video processors, amortization of costs associated with production masks and tooling and costs of third-party image sensors that the Group sells to its customers.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><i>Video Surveillance&#160;Solutions</i></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The video surveillance solutions are generally comprised of hardware with essential software and separate installation. The hardware and software components generally include a digital video recorder, camera, server, personal computers and the proprietary software of ViSS with other third party software that supports the operating system. The Company's software products are bundled together with hardware products so that the software components and non-software components function together to deliver the products' essential functionality. The Company markets and sells an integrated platform for a unified surveillance, storage and management solution. If the hardware does not contain the software, the video surveillance solution cannot be separately marketed and sold to customers. Therefore, the video surveillance solutions are excluded from being accounted for under software revenue recognition guidance. In addition, the Company also provides installation services, which includes software testing and equipment set up for the monitoring room. The successful completion of the Company's obligations under these arrangements is often subject to delivery acceptance, satisfactory testing and approval of such products and services. These sales arrangements do not include any general rights of return provisions.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The hardware, software and installation in video surveillance solutions&#160;arrangements are considered multiple accounting units in accordance with ASC 605. The total arrangement consideration is allocated to the individual deliverables on the basis of their relative selling price.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The relative selling price method is based on the selling price of vendor-specific objective evidence (&#147;VSOE&#148;) if available, third-party evidence (&#147;TPE&#148;) if VSOE is not available, or management's estimated selling price (&#147;ESP&#148;) if neither VSOE nor TPE is available for the delivered items. The Company uses the estimated selling price for each deliverable as neither VSOE nor TPE is available from the Company's relatively short history engaged in the video &#160;surveillance solutions&#160;business. The objective of ESP is to determine the price at which the Company would transact a sale if the deliverable were sold on a stand-alone basis.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Company determines ESP for a deliverable based on the cost plus an estimated profit margin while considering multiple factors including, but not limited to, market conditions, competitive landscape, cost, gross margin objectives and pricing practices. For the hardware and the third-party software component, the Company purchases these items from third party suppliers. In reference to available market information on the price of hardware and third party software and with the Company's consideration of margins in negotiating the pricing, the Company establishes ESP for hardware and the third-party software component. In connection with the installation service component, ESP is based on internal costs structure and margin with respect to labor costs and market information.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">For surveillance and security hardware with bundled software, revenue is recognized when customer acceptance is obtained, which occurs when the customer acknowledges receipt of goods and the delivered hardware with bundled software meet vendor-specific criteria. For installation services, the Group recognizes revenue after obtaining acceptance of the related services.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">To the extent that arrangements contain extended payment terms for which the Company does not have a history of successfully collecting under, revenue is recognized as payments from the customers become due, if all other revenue recognition criteria have been met. Payments received from customers in advance of shipment are initially recorded as advances from customers and recorded as revenue after all the revenue recognition criteria have been met.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The cost of video surveillance solutions&#160;revenue includes the cost of hardware and software, installation and other services and warranty cost. These costs are capitalized as inventory costs until the related revenue is recognized.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Group also sells hardware with bundled software without installation services and software on a standalone basis. Revenue for these arrangements is recognized when customer acceptance is obtained, which occurs when the customer acknowledges receipt of goods and the hardware with bundled software meet vendor-specific criteria. Standalone software sales were insignificant for the periods presented.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Company combines a group of contracts and accounts for them as one arrangement if these contracts are entered into at or near the same time with the same customer or related parties.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Warranty obligation is provided based on the estimated future warranty payment when the underlying revenue is recognized.</font></p> </div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Research and development costs</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Research and development costs include the cost incurred for the development of the business prior to the establishment of technological feasibility. Maintenance cost incurred after the establishment of technological feasibility is charged to expense as incurred.</font></p> </div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Government grants</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Government grants received from PRC government agencies are recognized as deferred government grants and offset against the corresponding expenses as and when they are incurred for the specific research and development projects or general operation purpose for which these grants are received. The Group had received grants from authorities in the PRC mostly for its surveillance related research and development activities. Such grants amounted to $<font>13.3</font> million, $<font>9.0</font> million and $<font>29.6</font> million in 2012, 2013 and 2014, respectively.</font></p> </div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Advertising costs</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Advertising costs are charged to expense as incurred. Advertising costs were $<font>301</font>, $<font>365</font> and $<font>685</font> for the years ended December 31, 2012, 2013 and 2014, respectively, and have been including in selling and marketing expense.</font></p> </div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Income taxes</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Current income taxes are provided on the basis of income for financial reporting purposes, adjusted for income and expense items which are not assessable or deductible for tax purposes, in accordance with the regulations of the relevant tax jurisdictions.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Deferred income taxes are provided for using the&#160;liability method. Under this method, deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the carrying amounts of assets and liabilities and their respective tax bases, and for the expected future tax benefits from net operating loss carry-forwards, if any. Deferred tax assets and liabilities are measured using the enacted tax rates expected in the years of recovery or reversal and the effect from a change in tax rates is recognized in the consolidated statements of comprehensive loss/income in the period of enactment. A valuation allowance is provided to reduce the amount of deferred tax assets if it is considered more likely than not that some portion of, or all of the deferred tax assets will not be realized.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Group adopted the provisions of ASC 740,&#160;<i>Income Taxes (</i>&#147;ASC 740&#148;) to clarify the accounting for uncertainty in income taxes. In accordance with the provisions of ASC 740, the Group recognizes in its financial statements the impact of a tax position if a tax return position or future tax position is &#147;more likely than not&#148; to prevail based on the facts and technical merits of the position. Tax positions that meet the &#147;more likely than not&#148; recognition threshold are measured at the largest amount of tax benefit that has a greater than fifty percent likelihood of being realized upon settlement. The Company estimates its liability for unrecognized tax benefits which are periodically assessed and may be affected by changing interpretations of laws, rulings by tax authorities, changes and/or developments with respect to tax audits, and expiration of the statute of limitations. The ultimate outcome for a particular tax position may not be determined with certainty prior to the conclusion of a tax audit and, in some cases, appeal or litigation process. The actual benefits ultimately realized may differ from the Company's estimates. The Company has elected to classify interest and penalties related to unrecognized tax benefits, if and when required, as part of income tax expense in the consolidated statements of comprehensive loss/income</font></p> </div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">.</font>&#160;</p> <div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Foreign currency transactions and translation</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The functional and reporting currency of the Company is the United States dollar (&#147;USD&#148;). Transactions denominated in foreign currencies are translated into the functional currency at the exchange rates prevailing at the date of the transactions. Monetary assets and liabilities denominated in foreign currencies are remeasured into the functional currency using exchange rates in effect at the balance sheet date. These exchange gains and losses are recognized in the consolidated statements of comprehensive loss/income.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The financial information of the Group's subsidiaries and VIE are maintained in its local currency. Those entities that use a different functional currency other than USD are translated into USD using the applicable exchange rates quoted by the People's Bank of China at balance sheet date for assets and liabilities, historical exchange rates are used for equity amounts and average exchange rates are used for revenues, expenses, gains, and losses. Translation adjustments resulting from translation of these consolidated financial statements are reflected as foreign currency translation adjustment in accumulated other comprehensive income/loss in the consolidated statements of shareholders' equity.</font></p> </div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Share-based compensation</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 23.85pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Company applies ASC 718,<i> Compensation-Stock Compensation</i> (&#147;ASC 718&#148;). Pursuant to ASC 718, the Company recognizes share-based compensation over the requisite service period and performance condition for any share option and restricted share grants based on the fair values of share option and restricted share on the dates of grant. For the options that were repriced during the year ended December 31, 2012, in accordance with ASC 718, the Company recognized additional compensation cost for the excess of fair value of the modified share options issued over the fair value of the original share options at the date of the modification for all the original share options vested as of the modification date. The compensation cost due to the incremental fair value of the modified awards and the remaining balance of the unrecognized compensation cost for the unvested share options are recognized over the remaining requisite service periods of the modified awards. The Company does not receive any tax benefits or deductions from awards exercised.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Company has elected to recognize share-based compensation expense using the straight-line method for all employee equity awards granted with graded vesting based on service conditions, and the Company measures the cost of employee services received in exchange for share-based compensation expense at the grant date fair value of the award. To the extent the required vesting conditions are not met resulting in the forfeiture of the share-based awards, previously recognized compensation expense relating to those awards are reversed. ASC 718 requires forfeitures to be estimated at the time of grant and revised, if necessary, in subsequent period if actual forfeitures differ from initial estimates. Share-based compensation expense is recorded net of estimated forfeitures such that expense is recorded only for those share-based awards that are expected to vest.&#160;The fair value of share options is determined using the Black- Scholes option pricing model method.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Company accounts for share-based awards issued to non-employees in accordance with the provisions of ASC 718 and ASC 505-50,<i> Equity: Equity-Based Payments to Non-Employees</i> (&#147;ASC 505-50&#148;). The measurement date is the performance completion date due to a lack of performance commitment. Under ASC 505-50, the Company uses the Black-Scholes option pricing model method to measure the value of options granted to non-employees at each reporting date to determine the appropriate charge to share-based compensation.</font></p> </div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Employee social security and welfare benefit plans</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">All full-time Chinese employees of the Company's PRC subsidiaries participate in a PRC government-mandated employee social security plans, including pension benefits, work-related injury benefits, maternity insurance, medical insurance, unemployment insurance, housing and other welfare benefits, organized and administered by relevant government authorities. The premiums and welfare benefit contributions that are borne by these entities are calculated based on percentages of the total salary of employees, subject to certain ceilings and are paid to the respective labor and social welfare authorities. The PRC government is responsible for the welfare benefit for the retired employees. The Group has no obligation for post retirement or other welfare benefits beyond the contribution.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The welfare benefits expenses were $<font>3,700</font>, $<font>3,863</font> and $<font>4,358</font> for the years ended December 31, 2012, 2013 and 2014, respectively.</font></p> </div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Profit appropriation</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 21.8pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In accordance with the laws applicable to China's Foreign Investment Enterprises, those of the Company's China-based subsidiaries that are considered under PRC law to be a wholly foreign-owned enterprise and prohibited from distributed their statutory reserve and are required to make appropriations from after-tax profit to non-distributable reserve funds. Each of the Company's PRC subsidiaries should set aside at least <font>10</font>% of its annual net profit, after recouping prior years' losses, determined under PRC GAAP to a statutory reserve fund before distributions to investors.The appropriation of the net profit to the statutory reserve fund must be made annually until the accumulated reserve fund has reached <font>50</font>% of registered capital of the respective company.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 23.85pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In accordance with the China Company Laws, the Company's China-based subsidiary is considered under PRC law to be domestically funded enterprises, as well as the Company's VIE should set aside at least <font>10</font>% of its net profit, after recouping prior years' losses, determined under PRC GAAP to a statutory reserve fund before distributions to investors. The appropriation of the net profit to the statutory reserve fund must be made annually until the accumulated reserve fund has reached <font>50</font>% of VIE's registered capital. The PRC subsidiaries and VIE did not appropriate statutory reserve fund during the years ended December 31, 2012, 2013 because of their losses. The Group has made profit appropriations of $<font>1.3</font> million to these funds for the year ended December 31, 2014.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 23.85pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">For the years ended December 31, 2013 and 2014, the total appropriation was $<font>2,782</font> and $<font>4,068</font>, respectively.</font></p> </div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Segment reporting</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In accordance with ASC 280,<i> Segment Reporting</i> (&#147;ASC 280&#148;), segment reporting is determined based on how the Group's chief operating decision maker reviews operating results to make decisions about allocating resources and assessing performance for the Group. The Group operates in <font>two</font> principal business segments, namely video processor and video surveillance solution. The Group does not allocate any assets to the two segments as management does not use this information to measure the performance of the reportable segments.</font></p> </div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>(Loss)/income per share</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Group computes (loss)/income per share in accordance with ASC 260,<i> Earning Per share</i> (&#147;ASC 260&#148;). Basic net (loss)/income per share is computed by dividing net (loss)/income by the weighted-average number of ordinary shares outstanding during the year. Diluted net (loss)/income per share is computed by dividing net (loss)/income by the weighted-average number of ordinary shares outstanding and, if dilutive, the potential ordinary shares outstanding during the year.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The dilutive effect of outstanding stock options and restricted shares is reflected in diluted earnings per share by application of the treasury stock method for stock option and unvested shares. Potentially dilutive securities have been excluded from the computation of diluted (loss)/income per share if their effects would be anti-dilutive.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The following table sets forth the computation of basic and diluted (loss)/income attributable to ordinary shareholders per share:</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <div style="display: block;"> <div class="CursorPointer"> <table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; border-collapse: collapse; font-size-adjust: none; font-stretch: normal;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td style="padding: 0px; text-align: center; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;" colspan="10" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Years ended December 31</strong></font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td style="padding: 0px; text-align: center; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2012</strong></font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="padding: 0px; text-align: center; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2013</strong></font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="padding: 0px; text-align: center; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2014</strong></font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="padding: 0px; text-indent: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Numerator:</font></td> <td style="font-family: 'Times New Roman';"></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman';"></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman';"></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="padding: 0px; width: 61%; text-align: left; text-indent: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Net income /(Loss) from continuing operations attributable to Vimicro International Corporation</font></td> <td style="padding: 0px; width: 1%; font-family: 'times new roman';"></td> <td style="padding: 0px; width: 1%; text-align: left; font-family: 'times new roman';"></td> <td style="padding: 0px; width: 10%; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,383</font></font></td> <td style="padding: 0px 5px; width: 1%; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; width: 1%; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; width: 1%; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; width: 10%; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(8,418</font></font></td> <td style="padding: 0px 10px 0px 0px; width: 1%; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="padding: 0px 5px; width: 1%; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; width: 1%; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; width: 10%; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">4,697</font></font></td> <td style="padding: 0px 5px; width: 1%; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="padding: 0px; text-align: left; text-indent: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Loss from discontinued operations attributable to Vimicro International Corporation</font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(2,002</font></font></td> <td style="padding: 0px 10px 0px 0px; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="padding: 0px 5px; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="padding: 0px; text-align: left; text-indent: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Net (Loss)/income attributable to Vimicro International Corporation</font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(619</font></font></td> <td style="padding: 0px 10px 0px 0px; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="padding: 0px 5px; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(8,418</font></font></td> <td style="padding: 0px 10px 0px 0px; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="padding: 0px 5px; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">4,697</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="padding: 0px; text-align: left; text-indent: 0px; font-family: 'times new roman'; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'Times New Roman'; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman'; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="padding: 0px; text-indent: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Denominator (in number of shares):</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: right; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: right; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: right; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="padding: 0px; text-align: left; text-indent: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Weighted-average ordinary shares outstanding - basic</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">123,253,931</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">114,687,240</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">98,443,702</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="padding: 0px; text-align: left; text-indent: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Dilutive effect of stock options and restricted shares</font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">4,370,516</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">17,090,420</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="padding: 0px; text-indent: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Weighted-average number of ordinary shares outstanding&#151;diluted</font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">127,624,447</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">114,687,240</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">115,534,122</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="padding: 0px; text-align: left; text-indent: 0px; font-family: 'times new roman'; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'Times New Roman'; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman'; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="padding: 0px; text-indent: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>(Loss)/income per share- basic</strong></font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: right; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: right; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: right; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="padding: 0px; text-align: left; text-indent: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Continuing operations</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">0.01</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(0.07</font></font></td> <td style="padding: 0px 10px 0px 0px; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">0.05</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="padding: 0px; text-align: left; text-indent: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Discontinued operations</font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(0.02</font></font></td> <td style="padding: 0px 10px 0px 0px; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="padding: 0px 5px; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="padding: 0px; text-indent: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Total loss/income per share - basic</font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(0.01</font></font></td> <td style="padding: 0px 10px 0px 0px; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="padding: 0px 5px; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(0.07</font></font></td> <td style="padding: 0px 10px 0px 0px; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="padding: 0px 5px; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">0.05</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="padding: 0px; text-indent: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>(Loss)/income per share- diluted</strong></font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: right; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: right; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: right; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="padding: 0px; text-align: left; text-indent: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Continuing operations</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">0.01</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(0.07</font></font></td> <td style="padding: 0px 10px 0px 0px; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">0.04</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="padding: 0px; text-align: left; text-indent: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Discontinued operations</font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(0.02</font></font></td> <td style="padding: 0px 10px 0px 0px; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="padding: 0px 5px; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="padding: 0px; text-indent: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Total loss/income per share - diluted</font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(0.01</font></font></td> <td style="padding: 0px 10px 0px 0px; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="padding: 0px 5px; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(0.07</font></font></td> <td style="padding: 0px 10px 0px 0px; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="padding: 0px 5px; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">0.04</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> </table> </div> </div> </div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Outstanding share options and non-vested restricted shares as of December 31 2013 were excluded from the computation of dilutive loss per share for the year ended December 31 2013 because of its anti-dilutive effect. For the year ended December 31, 2012, <font>24,544,023</font> share options and non-vested restricted shares were excluded from the calculation of dilutive earnings per share because of their anti-dilutive effect. For the year ended December 31, 2014, <font>14,640,968</font> share options and non-vested restricted shares were excluded from the calculation of dilutive earnings per share because of their anti-dilutive effect. The dilutive effects of the options and non-vested restricted shares are calculated using the treasury stock method.</font></p> </div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Comprehensive (loss)/income</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Comprehensive (loss)/income is defined as the changes in equity of the Group during a period from transactions and other events and circumstances excluding transactions resulting from investments by owners and distributions to owners. Among other disclosures, ASC 220,<i> Comprehensive income</i>, requires that all items that are required to be recognized under current accounting standards as components of comprehensive loss be reported in a financial statement that is displayed with the same prominence as other financial statements. For each of the periods presented, the Company's comprehensive (loss)/income includes net (loss)/income and foreign currency translation adjustments, deferred income received from disposal of a subsidiary&#160;and unrealized gain on marketable equity securities are presented in the consolidated statement of comprehensive income/(loss).</font></p> </div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Leases</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In accordance with ASC 840,<i> Leases</i> (&#147;ASC 840&#148;), leases for a lessee are classified at the inception date as either a capital lease or an operating lease. The Company assesses a lease to be a capital lease if any of the following conditions exist: a) ownership is transferred to the lessee by the end of the lease term, b) there is a bargain purchase option, c) the lease term is at least 75% of the property's estimated remaining economic life or d) the present value of the minimum lease payments at the beginning of the lease term is 90% or more of the fair value of the leased property to the lessor at the inception date. A capital lease is accounted for as if there was an acquisition of an asset and an incurrence of an obligation at the inception of the lease. The capital lease obligation reflects the present value of future rental payments, discounted at the appropriate interest rates. The cost of the asset is amortized over the lease term. The cost of the asset under capital lease is amortized as set out under the property, equipment and software (Note 8).</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Operating lease expenses are recognized to the consolidated statements of comprehensive loss/income on a straight-line basis over the applicable lease term. The Group normalizes rental expense on operating leases that involve rent concessions.</font></p> </div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>&#160;</i></b></font></p> <div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Noncontrolling interests</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Noncontrolling interests are recognized to reflect the portion of the equity of majority-owned subsidiary which is attributable, directly or indirectly, to the noncontrolling shareholder. Currently, the noncontrolling interests in the Company's consolidated financial statements consist primarily of noncontrolling interests for Tianjin SAMC.</font></p> </div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Treasury stock</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Company accounted for those shares repurchased as treasury stock at cost in accordance with ASC 505-30, <i>Treasury Stock</i>, and shows them separately in the shareholders' equity as the Company believed that these shares are no longer outstanding and are held. Treasury stock is accounted for under the cost method.</font></p> </div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Recent accounting pronouncements</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In April 2014, The FASB issued <i>Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity, </i>which changes the threshold for reporting discontinued operations and adds new disclosures. The new guidance defines a discontinued operation as a disposal that &#147;represents a strategic shift that has (or will have) a major effect on an entity's operations and financial results.&#148; The standard is required to be adopted by public business entities in annual periods beginning on or after December 15, 2014, and interim periods within those annual periods. Entities may &#147;early adopt&#148; the guidance for new disposals. The Group is currently evaluating the impact on its consolidated financial statements of adopting this guidance.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 21.8pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In May 2014, The FASB is amending the FASB <i>Accounting Standards Codification</i> and creating a new Topic 606, <i>Revenue from Contracts with Customers</i>, to supersede the revenue recognition requirements in Topic 605, <i>Revenue Recognition</i>, and most industry-specific guidance throughout the Industry Topics of the Codification. Additionally, the amendments supersede some cost guidance included in Subtopic 605-35, <i>Revenue Recognition&#151;Construction-Type and Production-Type Contracts</i>. For a public entity, the amendments are effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Early application is not permitted. The Group is currently evaluating the impact on its consolidated financial statements of adopting this guidance.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 20.4pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In June 2014, under ASC 718, <i>Compensation&#151;Stock Compensation</i>, the FASB issued Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period. These amendments apply to all reporting entities that grant their employees share-based payments in which the terms of the award provide that a performance target that affects vesting could be achieved after the requisite service period. That is the case when an employee is eligible to retire or otherwise terminate employment before the end of the period in which a performance target could be achieved and still be eligible to vest in the award if and when the performance target is achieved. For all entities, the amendments are effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. Earlier adoption is permitted. The Group is currently evaluating the impact on its consolidated financial statements of adopting this guidance. .</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 32.6pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In August 2014, the FASB issued <i>Presentation of Financial Statements &#150; Going Concern</i>. This standard requires management to evaluate for each annual and interim reporting period whether it is probable that the reporting entity will not be able to meet its obligations as they become due within one year after the date that the financial statements are issued. If the entity is in such a position, the standard provides for certain disclosures depending on whether or not the entity will be able to successfully mitigate its going concern status. This guidance is effective for annual periods ending after December 15, 2016 and interim periods within annual periods beginning after December 15, 2016. Early application is permitted. The Company does not anticipate that this adoption will have a significant impact on its financial position, results of operations, or cash flows.</font></p> </div> </div> <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Basis of presentation</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The consolidated financial statements of the Group have been prepared in accordance with accounting principles generally accepted in the United States (&#147;US GAAP&#148;)and on a going concern basis with the ownership interests of minority shareholders reported as noncontrolling interests.</font></p> </div> <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Principles of consolidation</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The consolidated financial statements of the Group include the financial statements of the Company and its controlled operating entities including that majority owned subsidiaries and the VIE.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">All intercompany transactions and balances have been eliminated upon consolidation.</font></p> </div> 5297000 2003000 <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Long-term Investments</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Company's long-term investment only consists of cost method investment. In accordance with ASC subtopic 325-20 (&#147;ASC 325-20&#148;), <i>Investments-Other: Cost Method Investments</i>, for investments in an investee over which the Company does not have significant influence and which do not have readily determinable fair value, the Company carries the investment at cost and only adjusts for other-than-temporary declines in fair value and distributions of earnings that exceed the Company's share of earnings since its investment. Management regularly evaluates the impairment of the cost method investments based on performance and financial position of the investee as well as other evidence of market value. Such evaluation includes, but is not limited to, reviewing the investee's cash position, recent financing, projected and historical financial performance, cash flow forecasts and financing needs. An impairment loss is recognized in earnings equal to the excess of the investment's cost over its fair value at the balance sheet date of the reporting period for which the assessment is made. The fair value then becomes the new cost basis of investment.<br/><br/></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The&#160;Group held <font>0.1</font>% equity interest in Vimicro Wuxi with a carrying amount of $<font>2</font> as of December 31, 2012. The Group disposed <font>0.1</font>% equity interest of Vimicro Wuxi in September 2013 for $<font>8</font> to VMF Consulting Company. The Group beneficially held <font>18.03</font>% equity interest in Vimicro Qingdao and held <font>12.03</font>% equity interest in Visiondigi The investment in Vimicro Qingdao and Visiondigi were fully impaired as of December 31, 2012.</font></p> </div> <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div style="display: block;"> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Investment in an equity investee</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>&#160;</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Investments in entities over which the Group holds between 20% and 50% of the equity interest, or over which the Group has significant influence but does not control are accounted for using the equity method of accounting <font style="font: 13.33px/normal 'Times New Roman', Times, serif; text-align: justify; color: #000000; text-transform: none; text-indent: 32px; letter-spacing: normal; word-spacing: 0px; float: none; display: inline !important; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">in accordance with ASC topic 323, </font><i style="text-align: justify; color: #000000; text-transform: none; line-height: normal; text-indent: 32px; letter-spacing: normal; font-family: 'Times New Roman', Times, serif; font-size: 13.33px; font-variant: normal; font-weight: normal; word-spacing: 0px; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">Investments-Equity Method and Joint Ventures</i>. Equity method of accounting involves recognizing the Group's share of the profit or loss for the year in the consolidated statements of comprehensive loss/income.When the Group's share of losses in an investment in an equity investee equals or exceeds its interest in the equity investee, the Group does not recognize further losses, unless it has incurred obligations or made payments on behalf of the equity investee, which to date the Group has not. In September 2012, Vimicro China made an investment in and established Zhongtianxin Science and Technology Co.,&#160;Ltd. (&#147;Zhongtianxin&#148;) with Shanxi Guoxin Investment (Group) Corporation. The Group directly holds <font>49</font>% of equity interest in Zhongtianxin and an additional <font>2</font>% of equity interest is held by VMF Consulting Company on behalf of Vimicro China as a nominee shareholder. As the noncontrolling shareholder has substantive participating rights including the approval of the annual budget, operation and investment plan, appointment, dismissal and remuneration of the board of directors and the general manager according to the Articles of Association of Zhongtianxin, the Company does not have control over Zhongtianxin. Therefore, the Company adopts the equity method to account for the investment in Zhongtianxin.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Company made cash investments of $<font>4,439</font>, $<font>468</font>&#160;and <font>nil</font> in Zhongtianxin for the years ended December 31, 2012, 2013 and 2014 respectively, and also contributed intellectual properties (&#147;IPs&#148;) with a fair value of $<font>11,809</font>, as determined by a third party&#160;appraiser, to Zhongtianxin as part of its investment during the year ended December 31, 2013. All the IPs contributed by the Company to Zhongtianxin was developed by the Group and the related historical research and development expenditures to develop the IPs were fully expensed in the Group's historical consolidated financial statements. As a result, the Group recorded the contribution of the IPs to Zhongtianxin at carrying amount, which was nil. The Group recognized its share of profit of $<font>1,372</font>&#160;and $<font>3,552</font>&#160;(adjusted for basis differences between the Group's cost and the underlying equity in net assets of Zhongtianxin and elimination of intra-entity profits&#160;<font style="font: 13.33px/normal 'Times New Roman', Times, serif; text-align: justify; color: #000000; text-transform: none; text-indent: 30.53px; letter-spacing: normal; word-spacing: 0px; float: none; display: inline !important; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">or losses on assets still remaining on the books of the investor</font>) in the consolidated statements of comprehensive income/(loss) for the years ended December 31, 2013 and 2014, respectively.&#160;<font style="font: 13.33px/normal 'Times New Roman', Times, serif; text-align: justify; color: #000000; text-transform: none; text-indent: 30.53px; letter-spacing: normal; word-spacing: 0px; float: none; display: inline !important; white-space: normal; widows: 1; -webkit-text-stroke-width: 0px;">The Group's gross profit has eliminated intra-entity revenue and cost that remain on the books of the investee as at year end. When the investment in an equity investee is reduced to zero, elimination of intra-entity profits will be recognized in deferred income from equity investee.</font><br/><br/>&#160; &#160; &#160; &#160;&#160;&#160;&#160;&#160;&#160;The following table summarizes information regarding the deferred income from equity investee as of December 31, 2013 and 2014, which is included on the consolidated balance sheets:<br/></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <table style="width: 100%; border-collapse: collapse;" cellspacing="0" cellpadding="0" width="100%"> <tr style="vertical-align: bottom;"> <td style="font-size: 10pt;">&#160;</td> <td style="font: bold 10pt/normal Times New Roman, Times, Serif; padding-bottom: 1pt; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: bold 10pt/normal Times New Roman, Times, Serif; text-align: center; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; font-size-adjust: none; font-stretch: normal;" colspan="6">As&#160;of&#160;December&#160;31</td> <td style="font: bold 10pt/normal Times New Roman, Times, Serif; padding-bottom: 1pt; font-size-adjust: none; font-stretch: normal;">&#160;</td> </tr> <tr style="vertical-align: bottom;"> <td style="font-size: 10pt;">&#160;</td> <td style="font: bold 10pt/normal Times New Roman, Times, Serif; padding-bottom: 1pt; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: bold 10pt/normal Times New Roman, Times, Serif; text-align: center; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; font-size-adjust: none; font-stretch: normal;" colspan="2">2013</td> <td style="font: bold 10pt/normal Times New Roman, Times, Serif; padding-bottom: 1pt; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: bold 10pt/normal Times New Roman, Times, Serif; padding-bottom: 1pt; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: bold 10pt/normal Times New Roman, Times, Serif; text-align: center; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; font-size-adjust: none; font-stretch: normal;" colspan="2">2014</td> <td style="font: bold 10pt/normal Times New Roman, Times, Serif; padding-bottom: 1pt; font-size-adjust: none; font-stretch: normal;">&#160;</td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="font: 10pt/normal Times New Roman, Times, Serif; width: 70%; text-align: left; font-size-adjust: none; font-stretch: normal;">Investment in original cost</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; width: 1%; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; width: 1%; text-align: left; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; width: 12%; text-align: right; font-size-adjust: none; font-stretch: normal;"><font>4,921</font></td> <td style="font: 10pt/normal Times New Roman, Times, Serif; width: 1%; text-align: left; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; width: 1%; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; width: 1%; text-align: left; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; width: 12%; text-align: right; font-size-adjust: none; font-stretch: normal;"><font>4,903</font></td> <td style="font: 10pt/normal Times New Roman, Times, Serif; width: 1%; text-align: left; font-size-adjust: none; font-stretch: normal;">&#160;</td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="font: 10pt/normal Times New Roman, Times, Serif; text-align: left; font-size-adjust: none; font-stretch: normal;">Accumulated gain&#160;on equity investment</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; text-align: left; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; text-align: right; font-size-adjust: none; font-stretch: normal;"><font>1,876</font></td> <td style="font: 10pt/normal Times New Roman, Times, Serif; text-align: left; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; text-align: left; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; text-align: right; font-size-adjust: none; font-stretch: normal;"><font>5,297</font></td> <td style="font: 10pt/normal Times New Roman, Times, Serif; text-align: left; font-size-adjust: none; font-stretch: normal;">&#160;</td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="font: 10pt/normal Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; font-size-adjust: none; font-stretch: normal;">Deferred gross profit on equity investment*</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; padding-bottom: 1pt; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; text-align: left; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; text-align: right; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; font-size-adjust: none; font-stretch: normal;"><font>(2,003</font></td> <td style="font: 10pt/normal Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; font-size-adjust: none; font-stretch: normal;">)</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; padding-bottom: 1pt; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; text-align: left; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; text-align: right; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; font-size-adjust: none; font-stretch: normal;"><font>(16,384</font></td> <td style="font: 10pt/normal Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; font-size-adjust: none; font-stretch: normal;">)</td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="padding-bottom: 2.5pt; font-size: 10pt;">&#160;</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; padding-bottom: 2.5pt; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; text-align: left; border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; text-align: right; border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double; font-size-adjust: none; font-stretch: normal;"><font>4,794</font></td> <td style="font: 10pt/normal Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; padding-bottom: 2.5pt; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; text-align: left; border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; text-align: right; border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double; font-size-adjust: none; font-stretch: normal;"><font>(6,184</font></td> <td style="font: 10pt/normal Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt; font-size-adjust: none; font-stretch: normal;">)</td> </tr> </table> <div> <div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <table border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td style="width: 2%; text-align: right;"><br/></td> <td style="width: 2%; vertical-align: top;" valign="bottom">*</td> <td style="width: 96%;"> <div><font style="font-family: 'times new roman', times; font-size: 10pt;">The difference of revenue recognition point between the Company and Zhongtianxin, the Company eliminated its intra-entity of 51% interest in the voting common stock of Zhongtianxin.</font></div> </td> </tr> </table> </div> </div> </div> </div> </div> <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Use of estimates</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The preparation of the consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.&#160;Significant accounting estimates reflected in the Group's consolidated financial statements mainly include useful lives of property, equipment and software and other long-lived assets, recognition and measurement of deferred tax assets and uncertain tax positions, provision for doubtful accounts, write-down of inventories, share-based compensation expenses, estimated selling price for multiple element deliverables, impairment of long-lived assets and equity method investment. The actual results experienced by the Group may differ from management estimate.</font></p> </div> <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Concentration of risks</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Group's operating results are significantly dependent on its ability to develop and market products. The Group faces rapid technology advancement which requires the Group to continually improve the performance, features and reliability of its products. Inability of the Group to successfully develop and market its products as a result of competition or other factors would have a material adverse effect on the Group's business, financial condition and results of operations.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Group operates in <font>two</font> segments: video processor business and video surveillance solution business. Revenues from the video processor business and video surveillance solution business accounted for <font>75</font>% and <font>25</font>%, <font>32</font>% and <font>68</font>%, <font>15</font>% and <font>85</font>% of total revenue for the years ended December 31, 2012, 2013 and 2014, respectively.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Group depends on a few key customers for the majority of its sales, and the loss of or a significant reduction in orders from any of these customers would have a material adverse impact on its operating results. For the years ended December 31, 2012, 2013 and 2014, the top <font>ten</font> customers accounted for <font>91</font>%, <font>82</font>% and <font>89</font>% of total product revenue, respectively. The Group cannot assure that these customers will continue to purchase products from the Group.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The following table summarizes the customers who accounted for more than 10% of the total revenue of the Group for the years ended December 31, 2012, 2013 and 2014:</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <div style="display: block;"> <div class="CursorPointer"> <table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; border-collapse: collapse; font-size-adjust: none; font-stretch: normal;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td style="padding: 0px; text-align: center; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;" colspan="10" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Years ended December 31</strong></font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td style="padding: 0px; text-align: center; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2012</strong></font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="padding: 0px; text-align: center; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2013</strong></font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="padding: 0px; text-align: center; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2014</strong></font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="padding: 0px; width: 60%; text-align: left; font-family: 'times new roman'; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">Customer Z</font></td> <td style="width: 0%; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);"></td> <td style="padding: 0px; width: 0%; text-align: left; font-family: 'times new roman'; background-color: rgb(204, 238, 255);"></td> <td style="padding: 0px; width: 10%; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="width: 0%; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding: 0px; background-color: rgb(204, 238, 255);"><font><font style="font-size: 13.33px;">%</font></font></td> <td style="width: 0%; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; width: 0%; text-align: left; font-family: 'times new roman'; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; width: 10%; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">33</font></font></td> <td style="padding: 0px; width: 0%; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> <td style="width: 0%; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; width: 0%; text-align: left; font-family: 'times new roman'; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; width: 10%; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">56</font></font></td> <td style="padding: 0px; width: 0%; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> </tr> <tr style="vertical-align: bottom;"> <td style="padding: 0px; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Customer P</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">63</font></font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> <td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">26</font></font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> <td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">13</font></font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="padding: 0px; text-align: left; font-family: 'times new roman'; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">Customer S</font></td> <td style="font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman'; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">11</font></font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> <td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">7</font></font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> <td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">2</font></font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> </tr> </table> </div> </div> </div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Customer P belongs to the video processor business and Customers S and Z belong to the video surveillance solution business for the years ended December 31, 2012, 2013 and 2014, respectively.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Group relies on a few foundries for wafers and several companies for assembly and testing services for the existing products. The ability of each foundry to provide wafers is limited by the foundry's available capacity. Moreover, the price of wafers may fluctuate based on the available industry capacity. The Group does not have long-term supply contracts with any of these foundries or assembly and testing houses. Therefore, the Group cannot be certain that these foundries and assembly and testing houses will allocate sufficient capacity to satisfy its requirements. If the Group is not able to obtain the necessary foundry capacity and assembly and testing capacity to produce the required volume for its customers in a timely manner, both its relationships with the customers and operating results would be adversely affected.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt; text-decoration: underline;">Concentration of credit risks</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Financial instruments that are potentially subject to credit risk consist of cash and cash equivalents, restricted cash and accounts receivable. Deposits held with financial institutions are not protected by statutory or commercial insurance. In the event of bankruptcy of <font>one</font> of these financial institutions, the Company may be unlikely to claim its deposits back in full. The Company continues to monitor the financial strength of the financial institutions. The Company had $<font>25,694</font> in cash and cash equivalents and restricted cash as of December 31, 2014.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">As of December 31, 2014, accounts receivables are typically unsecured and are derived from revenue earned from customers. The risk is mitigated by credit evaluations the Group performs on its customers' financial conditions and ongoing monitoring process of outstanding balances.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The following table summarizes the customers who accounted for more than 10% of the total accounts receivables as of December 31, 2013 and 2014:</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <div style="display: block;"> <div class="CursorPointer"> <table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; border-collapse: collapse; font-size-adjust: none; font-stretch: normal;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td style="padding: 0px; text-align: center; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;" colspan="6" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>As of December 31</strong></font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td style="padding: 0px; text-align: center; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2013</strong></font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="padding: 0px; text-align: center; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2014</strong></font></td> <td style="padding: 0px; text-align: center; font-family: 'times new roman'; width: 20px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="padding: 0px; width: 80%; text-align: justify; font-family: 'times new roman'; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Customer S</font></td> <td style="width: 0%; font-family: 'Times New Roman'; background-color: #cceeff;"></td> <td style="padding: 0px 5px; width: 0%; text-align: left; font-family: 'times new roman'; background-color: rgb(204, 238, 255);"></td> <td style="padding: 0px; width: 10%; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">33</font></font></td> <td style="padding: 0px; width: 0%; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> <td style="width: 0%; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; white-space: nowrap; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; width: 0%; text-align: left; font-family: 'times new roman'; white-space: nowrap; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; width: 10%; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">9</font></font></td> <td style="padding: 0px; width: 0%; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> </tr> <tr style="vertical-align: bottom;"> <td style="padding: 0px; text-align: justify; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Customer D</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">11</font></font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> </tr> </table> </div> </div> </div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt; text-decoration: underline;">Currency convertibility risks</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The RMB is not freely convertible into foreign currency. The PRC State Administration for Foreign Exchange, under the authority of the People's Bank of China, controls the conversion of RMB into foreign currencies. The value of the RMB is subject to changes in central government policies and to international economic and political developments affecting supply and demand in the PRC foreign exchange trading system market.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt; text-decoration: underline;">Foreign currency exchange risks</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The value of the RMB against the U.S. dollar and other currencies may fluctuate and is affected by, among other things, changes in China's political and economic conditions and China's foreign exchange policies. Under the current policy, the RMB is permitted to fluctuate within a narrow and managed band against a basket of certain foreign currencies.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">This change in policy has resulted in an appreciation of the RMB against the U.S. dollar in recent years.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Majority of the Group's revenue, cost of revenue and most of operating expenses are denominated in RMB, while a portion of non-operating expenses are denominated in U.S. dollars and Hong Kong dollars, which is pegged to the U.S. dollar. The Group uses the U.S. dollar as the reporting currency for its financial statements. Fluctuations in exchange rates, primarily those involving the U.S. dollar, may affect the Group's costs and operating margins as well as its net loss/income and comprehensive loss/income reported in U.S. dollars.</font></p> </div> <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div style="display: block;"> <div class="CursorPointer"> <table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; border-collapse: collapse; font-size-adjust: none; font-stretch: normal;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td style="padding: 0px; text-align: center; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;" colspan="10" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Years ended December 31</strong></font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td style="padding: 0px; text-align: center; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2012</strong></font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="padding: 0px; text-align: center; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2013</strong></font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="padding: 0px; text-align: center; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2014</strong></font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="padding: 0px; width: 60%; text-align: left; font-family: 'times new roman'; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">Customer Z</font></td> <td style="width: 0%; font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);"></td> <td style="padding: 0px; width: 0%; text-align: left; font-family: 'times new roman'; background-color: rgb(204, 238, 255);"></td> <td style="padding: 0px; width: 10%; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="width: 0%; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding: 0px; background-color: rgb(204, 238, 255);"><font><font style="font-size: 13.33px;">%</font></font></td> <td style="width: 0%; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; width: 0%; text-align: left; font-family: 'times new roman'; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; width: 10%; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">33</font></font></td> <td style="padding: 0px; width: 0%; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> <td style="width: 0%; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; width: 0%; text-align: left; font-family: 'times new roman'; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; width: 10%; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">56</font></font></td> <td style="padding: 0px; width: 0%; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> </tr> <tr style="vertical-align: bottom;"> <td style="padding: 0px; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Customer P</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">63</font></font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> <td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">26</font></font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> <td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">13</font></font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="padding: 0px; text-align: left; font-family: 'times new roman'; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">Customer S</font></td> <td style="font-family: 'Times New Roman'; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman'; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">11</font></font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> <td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">7</font></font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> <td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">2</font></font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> </tr> </table> </div> </div> </div> 16384000 <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div style="display: block;"> <div class="CursorPointer"> <table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; border-collapse: collapse; font-size-adjust: none; font-stretch: normal;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td style="padding: 0px; text-align: center; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;" colspan="6" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>As of December 31</strong></font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td style="padding: 0px; text-align: center; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2013</strong></font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="padding: 0px; text-align: center; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2014</strong></font></td> <td style="padding: 0px; text-align: center; font-family: 'times new roman'; width: 20px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="padding: 0px; width: 80%; text-align: justify; font-family: 'times new roman'; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Customer S</font></td> <td style="width: 0%; font-family: 'Times New Roman'; background-color: #cceeff;"></td> <td style="padding: 0px 5px; width: 0%; text-align: left; font-family: 'times new roman'; background-color: rgb(204, 238, 255);"></td> <td style="padding: 0px; width: 10%; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">33</font></font></td> <td style="padding: 0px; width: 0%; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> <td style="width: 0%; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; white-space: nowrap; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; width: 0%; text-align: left; font-family: 'times new roman'; white-space: nowrap; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; width: 10%; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">9</font></font></td> <td style="padding: 0px; width: 0%; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> </tr> <tr style="vertical-align: bottom;"> <td style="padding: 0px; text-align: justify; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Customer D</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">11</font></font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> </tr> </table> </div> </div> </div> <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Fair value measurements</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">ASC topic 820 (&#147;ASC 820&#148;),<i>Fair value measurement and Disclosure</i> defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, the Group considers the principal or most advantageous market in which it would transact and it considers assumptions that market participants would use when pricing the asset or liability.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Level 1&#160;&#151; Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Level 2&#160;&#151; Other inputs that are directly or indirectly observable in the marketplace.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Level 3&#160;&#151; Unobservable inputs which are supported by little or no market activity.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Group's financial instruments include cash and cash equivalents, restricted cash, accounts receivable, other current assets, long-term investment, amounts due from/to related parties, accounts payable, customer advances and long-term bank loans. The carrying amounts of the Group's cash and cash equivalents, restricted cash, accounts receivable, amounts due from/to related parties, accounts payable, customer advances and accrued expenses and other current liabilities approximated their fair values as of the balance sheet dates due to the short maturity of those instruments. The carrying amounts of the Group's long-term investment approximated its fair values as of the balance sheet date due to the long maturity of this instrument. The fair value of long-term bank loans are estimated based on the discounted value of future contractual cash flows which approximates their carrying value due to the fact they are predominately stated at variable rates. These assets and liabilities, excluding cash and cash equivalents (which fall into level 1 of the fair value hierarchy), fall into level 2 of the fair value hierarchy.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">There were no non-recurring and recurring fair value measurements as of December 31, 2013 and 2014.</font></p> </div> <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Cash and cash equivalents</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Cash and cash equivalents represent cash on hand and deposits that mature within <font>three</font> months placed with banks or other financial institutions, which are payable on demand.</font></p> </div> <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Restricted cash</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Restricted cash balances comprise cash in bank balances, which are restricted as to withdrawal or usage under the terms of certain contracts or under bank regulations.</font></p> </div> <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Accounts receivable and provision for doubtful accounts</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The carrying value of accounts receivable is stated at the amount the Group expects to collect. Provisions are made against accounts receivable to the extent that collection is considered to be doubtful. Many factors are considered in estimating the provision, including aging, customer credit, and current economic trends. The provision for doubtful accounts charged for the years ended December 31, 2012, 2013 and 2014 was $<font>721</font>, $<font>21</font> and $<font>3,700</font>, respectively. Accounts receivable in the consolidated balance sheets are stated net of such provision, if any.</font></p> </div> <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Inventories</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Inventories are stated at the lower of cost or market. The cost is computed on a weighted-average basis. Cost of work in progress and finished goods are comprised of direct materials, direct labor and related manufacturing overhead based on normal operating capacity. Adjustments are made to write down excess or obsolete inventories to their estimated realizable values.</font></p> </div> <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Property, equipment and software, net</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 23.85pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Property, equipment and software are stated at cost less accumulated depreciation and impairment.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 23.85pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Property, equipment and software are depreciated over their estimated useful lives on a straight line basis. Estimated residual values are nil. The estimated useful lives are as follows:</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; border-collapse: collapse; font-size-adjust: none; font-stretch: normal;" cellspacing="0" cellpadding="0" width="100%"> <tr style="vertical-align: bottom;"> <td style="width: 36%; text-align: justify; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="width: 4%; text-align: justify; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="width: 60%; text-align: center; font-family: 'times new roman'; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>Estimated&#160;useful&#160;lives</b></font></td> </tr> <tr> <td style="text-align: left; font-family: 'times new roman'; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr> <td style="text-align: justify; font-family: 'times new roman'; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Equipment and office furniture</font></td> <td style="text-align: justify; font-family: 'times new roman'; vertical-align: bottom;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: justify; font-family: 'times new roman'; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>5</font> years</font></td> </tr> <tr> <td style="text-align: justify; font-family: 'times new roman'; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Mask and tooling</font></td> <td style="text-align: justify; font-family: 'times new roman'; vertical-align: bottom;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: justify; font-family: 'times new roman'; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>2</font> years</font></td> </tr> <tr> <td style="text-align: justify; font-family: 'times new roman'; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Motor vehicles</font></td> <td style="text-align: justify; font-family: 'times new roman'; vertical-align: bottom;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: justify; font-family: 'times new roman'; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>5</font> years</font></td> </tr> <tr> <td style="text-align: justify; font-family: 'times new roman'; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Purchased software</font></td> <td style="text-align: justify; font-family: 'times new roman'; vertical-align: bottom;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: justify; font-family: 'times new roman'; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>3</font> to <font>5</font> years</font></td> </tr> <tr> <td style="font-family: 'times new roman'; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Leasehold improvements</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: justify; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Lesser of the lease term or the estimated useful lives of the assets</font></td> </tr> </table> </div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Expenditures for maintenance and repairs are expensed as incurred.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The gain or loss on the disposal of property, equipment and software is the difference between the net sales proceeds and the carrying amount of the relevant assets and is recognized in the consolidated statements of comprehensive loss/income.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><br/></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;">All direct and indirect costs that are related to the construction of fixed assets and incurred before the assets are ready for their intended use are capitalized as construction in progress. Interest expense incurred for qualifying assets are capitalized in accordance with ASC 835-20,<i> Capitalization of Interest</i>.</p> </div> <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; border-collapse: collapse; font-size-adjust: none; font-stretch: normal;" cellspacing="0" cellpadding="0" width="100%"> <tr style="vertical-align: bottom;"> <td style="width: 36%; text-align: justify; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="width: 4%; text-align: justify; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="width: 60%; text-align: center; font-family: 'times new roman'; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>Estimated&#160;useful&#160;lives</b></font></td> </tr> <tr> <td style="text-align: left; font-family: 'times new roman'; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr> <td style="text-align: justify; font-family: 'times new roman'; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Equipment and office furniture</font></td> <td style="text-align: justify; font-family: 'times new roman'; vertical-align: bottom;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: justify; font-family: 'times new roman'; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>5</font> years</font></td> </tr> <tr> <td style="text-align: justify; font-family: 'times new roman'; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Mask and tooling</font></td> <td style="text-align: justify; font-family: 'times new roman'; vertical-align: bottom;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: justify; font-family: 'times new roman'; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>2</font> years</font></td> </tr> <tr> <td style="text-align: justify; font-family: 'times new roman'; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Motor vehicles</font></td> <td style="text-align: justify; font-family: 'times new roman'; vertical-align: bottom;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: justify; font-family: 'times new roman'; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>5</font> years</font></td> </tr> <tr> <td style="text-align: justify; font-family: 'times new roman'; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Purchased software</font></td> <td style="text-align: justify; font-family: 'times new roman'; vertical-align: bottom;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: justify; font-family: 'times new roman'; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>3</font> to <font>5</font> years</font></td> </tr> <tr> <td style="font-family: 'times new roman'; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Leasehold improvements</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: justify; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Lesser of the lease term or the estimated useful lives of the assets</font></td> </tr> </table> </div> <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <table style="width: 100%; border-collapse: collapse;" cellspacing="0" cellpadding="0" width="100%"> <tr style="vertical-align: bottom;"> <td style="font-size: 10pt;">&#160;</td> <td style="font: bold 10pt/normal Times New Roman, Times, Serif; padding-bottom: 1pt; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: bold 10pt/normal Times New Roman, Times, Serif; text-align: center; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; font-size-adjust: none; font-stretch: normal;" colspan="6">As&#160;of&#160;December&#160;31</td> <td style="font: bold 10pt/normal Times New Roman, Times, Serif; padding-bottom: 1pt; font-size-adjust: none; font-stretch: normal;">&#160;</td> </tr> <tr style="vertical-align: bottom;"> <td style="font-size: 10pt;">&#160;</td> <td style="font: bold 10pt/normal Times New Roman, Times, Serif; padding-bottom: 1pt; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: bold 10pt/normal Times New Roman, Times, Serif; text-align: center; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; font-size-adjust: none; font-stretch: normal;" colspan="2">2013</td> <td style="font: bold 10pt/normal Times New Roman, Times, Serif; padding-bottom: 1pt; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: bold 10pt/normal Times New Roman, Times, Serif; padding-bottom: 1pt; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: bold 10pt/normal Times New Roman, Times, Serif; text-align: center; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; font-size-adjust: none; font-stretch: normal;" colspan="2">2014</td> <td style="font: bold 10pt/normal Times New Roman, Times, Serif; padding-bottom: 1pt; font-size-adjust: none; font-stretch: normal;">&#160;</td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="font: 10pt/normal Times New Roman, Times, Serif; width: 70%; text-align: left; font-size-adjust: none; font-stretch: normal;">Investment in original cost</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; width: 1%; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; width: 1%; text-align: left; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; width: 12%; text-align: right; font-size-adjust: none; font-stretch: normal;"><font>4,921</font></td> <td style="font: 10pt/normal Times New Roman, Times, Serif; width: 1%; text-align: left; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; width: 1%; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; width: 1%; text-align: left; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; width: 12%; text-align: right; font-size-adjust: none; font-stretch: normal;"><font>4,903</font></td> <td style="font: 10pt/normal Times New Roman, Times, Serif; width: 1%; text-align: left; font-size-adjust: none; font-stretch: normal;">&#160;</td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="font: 10pt/normal Times New Roman, Times, Serif; text-align: left; font-size-adjust: none; font-stretch: normal;">Accumulated gain&#160;on equity investment</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; text-align: left; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; text-align: right; font-size-adjust: none; font-stretch: normal;"><font>1,876</font></td> <td style="font: 10pt/normal Times New Roman, Times, Serif; text-align: left; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; text-align: left; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; text-align: right; font-size-adjust: none; font-stretch: normal;"><font>5,297</font></td> <td style="font: 10pt/normal Times New Roman, Times, Serif; text-align: left; font-size-adjust: none; font-stretch: normal;">&#160;</td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="font: 10pt/normal Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; font-size-adjust: none; font-stretch: normal;">Deferred gross profit on equity investment*</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; padding-bottom: 1pt; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; text-align: left; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; text-align: right; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; font-size-adjust: none; font-stretch: normal;"><font>(2,003</font></td> <td style="font: 10pt/normal Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; font-size-adjust: none; font-stretch: normal;">)</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; padding-bottom: 1pt; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; text-align: left; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; text-align: right; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid; font-size-adjust: none; font-stretch: normal;"><font>(16,384</font></td> <td style="font: 10pt/normal Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; font-size-adjust: none; font-stretch: normal;">)</td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="padding-bottom: 2.5pt; font-size: 10pt;">&#160;</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; padding-bottom: 2.5pt; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; text-align: left; border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; text-align: right; border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double; font-size-adjust: none; font-stretch: normal;"><font>4,794</font></td> <td style="font: 10pt/normal Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; padding-bottom: 2.5pt; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; text-align: left; border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double; font-size-adjust: none; font-stretch: normal;">&#160;</td> <td style="font: 10pt/normal Times New Roman, Times, Serif; text-align: right; border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double; font-size-adjust: none; font-stretch: normal;"><font>(6,184</font></td> <td style="font: 10pt/normal Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt; font-size-adjust: none; font-stretch: normal;">)</td> </tr> </table> <div> <div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <table border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td style="width: 2%; text-align: right;"><br/></td> <td style="width: 2%; vertical-align: top;" valign="bottom">*</td> <td style="width: 96%;"> <div><font style="font-family: 'times new roman', times; font-size: 10pt;">The difference of revenue recognition point between the Company and Zhongtianxin, the Company eliminated its intra-entity of 51% interest in the voting common stock of Zhongtianxin.</font></div> </td> </tr> </table> </div> </div> </div> <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Long-lived assets to be disposed of and discontinued operations</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Group accounts for a long-lived asset or disposal group to be sold in accordance with ASC 360-10,<i> Property, Plant and Equipment: Overall</i> (&#147;ASC 360-10&#148;) where such long-lived asset or disposal group is classified as held for sale in the period in which all six criteria are met: (1)&#160;a plan to sell the asset has been committed to by management; (2)&#160;the asset can be sold in its current condition; (3)&#160;an active plan has been initiated to find a buyer; (4)&#160;it is probable that the asset will be sold and the sale will be completed within <font>one</font> year and will qualify as a completed sale; (5)&#160;the sales price is reasonable relative to the asset's current fair value and the entity is actively marketing the asset; and (6)&#160;it is unlikely that the plan to sell the asset will be withdrawn or changed significantly.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">A long-lived asset or disposal group classified as held for sale is measured at the lower of its carrying amount or fair value less cost to sell, and it is presented separately on the balance sheet. Long-lived assets reclassified as held for sale are not depreciated or amortized. The fair value less cost to sell of the long-lived asset or disposal group is evaluated at each end of reporting period. As of December 31, 2013 and 2014, there was <font>no</font> long-lived asset or disposal group classified as held for sale.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Group follows ASC 205-20,<i> Presentation of Financial Statements: Discontinued Operations</i> in its accounting for a component of the Company that has been disposed of or is classified as held for sale and has operations and cash flows that can be clearly distinguished from the rest of the Company. Such component is reported as discontinued operations when the operations and cash flow of the components have been or will be eliminated from the Group as a result of disposal and the Group will not have any significant involvement in the operation of the component after the disposal. In the period in which a component has been disposed of or classified as held for sale, the results of operations, including any gain or loss after tax recognized in accordance with ASC 360-10, less applicable income taxes, for the periods presented are reclassified into line items of income separately from net income (loss) from continuing operations before extraordinary items (if applicable), in the consolidated statements of comprehensive loss/income.</font></p> </div> <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Land use rights</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Land use rights include prepayments towards acquisition and land use rights acquired. Land use rights acquired are stated at cost less accumulated amortization and impairment loss. Land use rights are amortized on a straight-line basis over their useful lives of up to <font>50</font> years.</font></p> </div> <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Golf memberships</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Company holds <font>two</font> lifetime golf memberships with a total carrying amount of $<font>370</font> and $<font>369</font>&#160;at December 31, 2013 and 2014, respectively, recorded as other non-current assets. Lifetime golf memberships have an indefinite useful life and are not amortized, instead, they are tested for impairment annually or more frequently if events or changes in circumstances indicate that it is more likely than not that the assets are impaired. <font>No</font> impairment charges were recognized for the periods presented.</font></p> </div> <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Product warranty</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Group provides warranty on its product sales for a period generally ranging from <font>one</font> to <font>five</font> years from the time of final acceptance or goods delivery. The Company provides for the expected cost of product warranties at the time that revenue is recognized based on an assessment of past warranty experience and specific circumstances.</font></p> </div> 1521000 <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Impairment of long-lived assets</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><i>Impairment of property, equipment and software<b> </b>and land use rights</i></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Group evaluates its property, equipment and software<b> </b>and land use rights or asset group whenever events or changes in circumstances (such as a significant adverse change to market conditions that will impact the future use of the assets) indicate that the carrying amount of property, equipment and software<b> </b>and land use rights may not be fully recoverable. When these events occur, the Group determines whether there is impairment by comparing the carrying amount of the assets or asset group to future undiscounted cash flows expected to result from the use of the assets and their eventual disposition. If the sum of the expected undiscounted cash flows is less than the carrying amount of the assets or asset group, the Group recognizes an impairment loss based on the excess of the carrying amount of the asset group over its fair value, generally based upon discounted cash flows.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><i>&#160;</i></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><i>Impairment of investment in an equity investee</i></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Group reviews its investments for other-than-temporary impairment whenever events or changes in business circumstances indicate that the carrying value of the investment may not be fully recoverable. Investments identified as having an indication of impairment are subject to further analysis to determine if the impairment is other-than-temporary and this analysis requires estimating the fair value of the investment. In making this determination, the Company reviews several factors to determine whether the losses are other-than-temporary, including but not limited to: (i)&#160;the length of time the investment was in an unrealized loss position, (ii)&#160;the extent to which fair value was less than cost, (iii)&#160;the financial condition and near term prospects of the issuer, and (iv)&#160;the Company's intent and ability to hold the investment for a period of time sufficient to allow for any anticipated recovery in fair value. The determination of fair value of the investment involves considering factors such as current economic and market conditions, the operating performance of the companies including current earnings trends and forecasted cash flows, and other company and industry specific information.</font></p> </div> 1514000 1511000 1478000 49000 4082000 5847000 -740000 0.18 0.0394 0.0203 3 <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Revenue recognition</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Group recognizes revenue from the sales of products and rendering of services when the earnings process has been completed and all revenue recognition criteria has been met persuasive evidence for an arrangement exists, delivery of products and/or services and transfer of title has occurred, the selling price is both fixed and determinable and collectability is reasonably assured, as prescribed by ASC 605,<i> Revenue recognition</i> (&#147;ASC 605&#148;).</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><i>Video processors</i></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Video&#160;processor revenue derives from PC and embedded notebook camera video&#160;processors, image sensors, and other products. Revenues related to video&#160;processors are generally recorded net of business taxes and related surcharges provided all revenue recognition criteria have been met.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Company uses distributors for sales of video&#160;processors. The Company enters into generally short term arrangements with its distributors, which on rare occasions may include certain obligations of the Company such as acceptance or price protection clauses. The distributors make full payment prior to shipping or enjoy credit terms from <font>30</font> to <font>90</font> days. The Company does not have a history of providing refunds, discounts or other price concessions in connection with price protection clauses that the Company may provide to a distributor. The Company believes that such provisions are within the control of the Company and expects any benefits provided to the distributor to be insignificant. As such, the Company believes that it is able to reasonably estimate price concessions as remote, such that the price is fixed and determinable and revenue is recognized upon delivery of the product. When the Company provides an acceptance provision to a distributor, revenue is not recognized until acceptance has been received. The Company does not have any other post shipment obligations.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The cost of video processor revenue primarily consists of costs associated with the fabrication of wafers, assembly, testing and shipping of video processors, amortization of costs associated with production masks and tooling and costs of third-party image sensors that the Group sells to its customers.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><i>Video Surveillance&#160;Solutions</i></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The video surveillance solutions are generally comprised of hardware with essential software and separate installation. The hardware and software components generally include a digital video recorder, camera, server, personal computers and the proprietary software of ViSS with other third party software that supports the operating system. The Company's software products are bundled together with hardware products so that the software components and non-software components function together to deliver the products' essential functionality. The Company markets and sells an integrated platform for a unified surveillance, storage and management solution. If the hardware does not contain the software, the video surveillance solution cannot be separately marketed and sold to customers. Therefore, the video surveillance solutions are excluded from being accounted for under software revenue recognition guidance. In addition, the Company also provides installation services, which includes software testing and equipment set up for the monitoring room. The successful completion of the Company's obligations under these arrangements is often subject to delivery acceptance, satisfactory testing and approval of such products and services. These sales arrangements do not include any general rights of return provisions.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The hardware, software and installation in video surveillance solutions&#160;arrangements are considered multiple accounting units in accordance with ASC 605. The total arrangement consideration is allocated to the individual deliverables on the basis of their relative selling price.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The relative selling price method is based on the selling price of vendor-specific objective evidence (&#147;VSOE&#148;) if available, third-party evidence (&#147;TPE&#148;) if VSOE is not available, or management's estimated selling price (&#147;ESP&#148;) if neither VSOE nor TPE is available for the delivered items. The Company uses the estimated selling price for each deliverable as neither VSOE nor TPE is available from the Company's relatively short history engaged in the video &#160;surveillance solutions&#160;business. The objective of ESP is to determine the price at which the Company would transact a sale if the deliverable were sold on a stand-alone basis.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Company determines ESP for a deliverable based on the cost plus an estimated profit margin while considering multiple factors including, but not limited to, market conditions, competitive landscape, cost, gross margin objectives and pricing practices. For the hardware and the third-party software component, the Company purchases these items from third party suppliers. In reference to available market information on the price of hardware and third party software and with the Company's consideration of margins in negotiating the pricing, the Company establishes ESP for hardware and the third-party software component. In connection with the installation service component, ESP is based on internal costs structure and margin with respect to labor costs and market information.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">For surveillance and security hardware with bundled software, revenue is recognized when customer acceptance is obtained, which occurs when the customer acknowledges receipt of goods and the delivered hardware with bundled software meet vendor-specific criteria. For installation services, the Group recognizes revenue after obtaining acceptance of the related services.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">To the extent that arrangements contain extended payment terms for which the Company does not have a history of successfully collecting under, revenue is recognized as payments from the customers become due, if all other revenue recognition criteria have been met. Payments received from customers in advance of shipment are initially recorded as advances from customers and recorded as revenue after all the revenue recognition criteria have been met.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The cost of video surveillance solutions&#160;revenue includes the cost of hardware and software, installation and other services and warranty cost. These costs are capitalized as inventory costs until the related revenue is recognized.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Group also sells hardware with bundled software without installation services and software on a standalone basis. Revenue for these arrangements is recognized when customer acceptance is obtained, which occurs when the customer acknowledges receipt of goods and the hardware with bundled software meet vendor-specific criteria. Standalone software sales were insignificant for the periods presented.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Company combines a group of contracts and accounts for them as one arrangement if these contracts are entered into at or near the same time with the same customer or related parties.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Warranty obligation is provided based on the estimated future warranty payment when the underlying revenue is recognized.</font></p> </div> <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Research and development costs</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Research and development costs include the cost incurred for the development of the business prior to the establishment of technological feasibility. Maintenance cost incurred after the establishment of technological feasibility is charged to expense as incurred.</font></p> </div> <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Government grants</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Government grants received from PRC government agencies are recognized as deferred government grants and offset against the corresponding expenses as and when they are incurred for the specific research and development projects or general operation purpose for which these grants are received. The Group had received grants from authorities in the PRC mostly for its surveillance related research and development activities. Such grants amounted to $<font>13.3</font> million, $<font>9.0</font> million and $<font>29.6</font> million in 2012, 2013 and 2014, respectively.</font></p> </div> <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Advertising costs</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Advertising costs are charged to expense as incurred. Advertising costs were $<font>301</font>, $<font>365</font> and $<font>685</font> for the years ended December 31, 2012, 2013 and 2014, respectively, and have been including in selling and marketing expense.</font></p> </div> 1747000 <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Income taxes</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Current income taxes are provided on the basis of income for financial reporting purposes, adjusted for income and expense items which are not assessable or deductible for tax purposes, in accordance with the regulations of the relevant tax jurisdictions.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Deferred income taxes are provided for using the&#160;liability method. Under this method, deferred tax assets and liabilities are recognized for the expected future tax consequences of temporary differences between the carrying amounts of assets and liabilities and their respective tax bases, and for the expected future tax benefits from net operating loss carry-forwards, if any. Deferred tax assets and liabilities are measured using the enacted tax rates expected in the years of recovery or reversal and the effect from a change in tax rates is recognized in the consolidated statements of comprehensive loss/income in the period of enactment. A valuation allowance is provided to reduce the amount of deferred tax assets if it is considered more likely than not that some portion of, or all of the deferred tax assets will not be realized.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Group adopted the provisions of ASC 740,&#160;<i>Income Taxes (</i>&#147;ASC 740&#148;) to clarify the accounting for uncertainty in income taxes. In accordance with the provisions of ASC 740, the Group recognizes in its financial statements the impact of a tax position if a tax return position or future tax position is &#147;more likely than not&#148; to prevail based on the facts and technical merits of the position. Tax positions that meet the &#147;more likely than not&#148; recognition threshold are measured at the largest amount of tax benefit that has a greater than fifty percent likelihood of being realized upon settlement. The Company estimates its liability for unrecognized tax benefits which are periodically assessed and may be affected by changing interpretations of laws, rulings by tax authorities, changes and/or developments with respect to tax audits, and expiration of the statute of limitations. The ultimate outcome for a particular tax position may not be determined with certainty prior to the conclusion of a tax audit and, in some cases, appeal or litigation process. The actual benefits ultimately realized may differ from the Company's estimates. The Company has elected to classify interest and penalties related to unrecognized tax benefits, if and when required, as part of income tax expense in the consolidated statements of comprehensive loss/income</font></p> </div> <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Foreign currency transactions and translation</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The functional and reporting currency of the Company is the United States dollar (&#147;USD&#148;). Transactions denominated in foreign currencies are translated into the functional currency at the exchange rates prevailing at the date of the transactions. Monetary assets and liabilities denominated in foreign currencies are remeasured into the functional currency using exchange rates in effect at the balance sheet date. These exchange gains and losses are recognized in the consolidated statements of comprehensive loss/income.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The financial information of the Group's subsidiaries and VIE are maintained in its local currency. Those entities that use a different functional currency other than USD are translated into USD using the applicable exchange rates quoted by the People's Bank of China at balance sheet date for assets and liabilities, historical exchange rates are used for equity amounts and average exchange rates are used for revenues, expenses, gains, and losses. Translation adjustments resulting from translation of these consolidated financial statements are reflected as foreign currency translation adjustment in accumulated other comprehensive income/loss in the consolidated statements of shareholders' equity.</font></p> </div> 4904000 292000 <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Share-based compensation</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 23.85pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Company applies ASC 718,<i> Compensation-Stock Compensation</i> (&#147;ASC 718&#148;). Pursuant to ASC 718, the Company recognizes share-based compensation over the requisite service period and performance condition for any share option and restricted share grants based on the fair values of share option and restricted share on the dates of grant. For the options that were repriced during the year ended December 31, 2012, in accordance with ASC 718, the Company recognized additional compensation cost for the excess of fair value of the modified share options issued over the fair value of the original share options at the date of the modification for all the original share options vested as of the modification date. The compensation cost due to the incremental fair value of the modified awards and the remaining balance of the unrecognized compensation cost for the unvested share options are recognized over the remaining requisite service periods of the modified awards. The Company does not receive any tax benefits or deductions from awards exercised.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Company has elected to recognize share-based compensation expense using the straight-line method for all employee equity awards granted with graded vesting based on service conditions, and the Company measures the cost of employee services received in exchange for share-based compensation expense at the grant date fair value of the award. To the extent the required vesting conditions are not met resulting in the forfeiture of the share-based awards, previously recognized compensation expense relating to those awards are reversed. ASC 718 requires forfeitures to be estimated at the time of grant and revised, if necessary, in subsequent period if actual forfeitures differ from initial estimates. Share-based compensation expense is recorded net of estimated forfeitures such that expense is recorded only for those share-based awards that are expected to vest.&#160;The fair value of share options is determined using the Black- Scholes option pricing model method.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Company accounts for share-based awards issued to non-employees in accordance with the provisions of ASC 718 and ASC 505-50,<i> Equity: Equity-Based Payments to Non-Employees</i> (&#147;ASC 505-50&#148;). The measurement date is the performance completion date due to a lack of performance commitment. Under ASC 505-50, the Company uses the Black-Scholes option pricing model method to measure the value of options granted to non-employees at each reporting date to determine the appropriate charge to share-based compensation.</font></p> </div> <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Employee social security and welfare benefit plans</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">All full-time Chinese employees of the Company's PRC subsidiaries participate in a PRC government-mandated employee social security plans, including pension benefits, work-related injury benefits, maternity insurance, medical insurance, unemployment insurance, housing and other welfare benefits, organized and administered by relevant government authorities. The premiums and welfare benefit contributions that are borne by these entities are calculated based on percentages of the total salary of employees, subject to certain ceilings and are paid to the respective labor and social welfare authorities. The PRC government is responsible for the welfare benefit for the retired employees. The Group has no obligation for post retirement or other welfare benefits beyond the contribution.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The welfare benefits expenses were $<font>3,700</font>, $<font>3,863</font> and $<font>4,358</font> for the years ended December 31, 2012, 2013 and 2014, respectively.</font></p> </div> 3765000 33000 1367000 2430000 <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Profit appropriation</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 21.8pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In accordance with the laws applicable to China's Foreign Investment Enterprises, those of the Company's China-based subsidiaries that are considered under PRC law to be a wholly foreign-owned enterprise and prohibited from distributed their statutory reserve and are required to make appropriations from after-tax profit to non-distributable reserve funds. Each of the Company's PRC subsidiaries should set aside at least <font>10</font>% of its annual net profit, after recouping prior years' losses, determined under PRC GAAP to a statutory reserve fund before distributions to investors.The appropriation of the net profit to the statutory reserve fund must be made annually until the accumulated reserve fund has reached <font>50</font>% of registered capital of the respective company.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 23.85pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In accordance with the China Company Laws, the Company's China-based subsidiary is considered under PRC law to be domestically funded enterprises, as well as the Company's VIE should set aside at least <font>10</font>% of its net profit, after recouping prior years' losses, determined under PRC GAAP to a statutory reserve fund before distributions to investors. The appropriation of the net profit to the statutory reserve fund must be made annually until the accumulated reserve fund has reached <font>50</font>% of VIE's registered capital. The PRC subsidiaries and VIE did not appropriate statutory reserve fund during the years ended December 31, 2012, 2013 because of their losses. The Group has made profit appropriations of $<font>1.3</font> million to these funds for the year ended December 31, 2014.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 23.85pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">For the years ended December 31, 2013 and 2014, the total appropriation was $<font>2,782</font> and $<font>4,068</font>, respectively.</font></p> </div> <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Segment reporting</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In accordance with ASC 280,<i> Segment Reporting</i> (&#147;ASC 280&#148;), segment reporting is determined based on how the Group's chief operating decision maker reviews operating results to make decisions about allocating resources and assessing performance for the Group. The Group operates in <font>two</font> principal business segments, namely video processor and video surveillance solution. The Group does not allocate any assets to the two segments as management does not use this information to measure the performance of the reportable segments.</font></p> </div> <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>(Loss)/income per share</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Group computes (loss)/income per share in accordance with ASC 260,<i> Earning Per share</i> (&#147;ASC 260&#148;). Basic net (loss)/income per share is computed by dividing net (loss)/income by the weighted-average number of ordinary shares outstanding during the year. Diluted net (loss)/income per share is computed by dividing net (loss)/income by the weighted-average number of ordinary shares outstanding and, if dilutive, the potential ordinary shares outstanding during the year.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The dilutive effect of outstanding stock options and restricted shares is reflected in diluted earnings per share by application of the treasury stock method for stock option and unvested shares. Potentially dilutive securities have been excluded from the computation of diluted (loss)/income per share if their effects would be anti-dilutive.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The following table sets forth the computation of basic and diluted (loss)/income attributable to ordinary shareholders per share:</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <div style="display: block;"> <div class="CursorPointer"> <table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; border-collapse: collapse; font-size-adjust: none; font-stretch: normal;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td style="padding: 0px; text-align: center; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;" colspan="10" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Years ended December 31</strong></font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td style="padding: 0px; text-align: center; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2012</strong></font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="padding: 0px; text-align: center; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2013</strong></font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="padding: 0px; text-align: center; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2014</strong></font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="padding: 0px; text-indent: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Numerator:</font></td> <td style="font-family: 'Times New Roman';"></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman';"></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman';"></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="padding: 0px; width: 61%; text-align: left; text-indent: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Net income /(Loss) from continuing operations attributable to Vimicro International Corporation</font></td> <td style="padding: 0px; width: 1%; font-family: 'times new roman';"></td> <td style="padding: 0px; width: 1%; text-align: left; font-family: 'times new roman';"></td> <td style="padding: 0px; width: 10%; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,383</font></font></td> <td style="padding: 0px 5px; width: 1%; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; width: 1%; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; width: 1%; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; width: 10%; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(8,418</font></font></td> <td style="padding: 0px 10px 0px 0px; width: 1%; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="padding: 0px 5px; width: 1%; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; width: 1%; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; width: 10%; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">4,697</font></font></td> <td style="padding: 0px 5px; width: 1%; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="padding: 0px; text-align: left; text-indent: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Loss from discontinued operations attributable to Vimicro International Corporation</font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(2,002</font></font></td> <td style="padding: 0px 10px 0px 0px; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="padding: 0px 5px; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="padding: 0px; text-align: left; text-indent: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Net (Loss)/income attributable to Vimicro International Corporation</font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(619</font></font></td> <td style="padding: 0px 10px 0px 0px; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="padding: 0px 5px; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(8,418</font></font></td> <td style="padding: 0px 10px 0px 0px; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="padding: 0px 5px; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">4,697</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="padding: 0px; text-align: left; text-indent: 0px; font-family: 'times new roman'; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'Times New Roman'; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman'; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="padding: 0px; text-indent: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Denominator (in number of shares):</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: right; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: right; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: right; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="padding: 0px; text-align: left; text-indent: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Weighted-average ordinary shares outstanding - basic</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">123,253,931</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">114,687,240</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">98,443,702</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="padding: 0px; text-align: left; text-indent: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Dilutive effect of stock options and restricted shares</font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">4,370,516</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">17,090,420</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="padding: 0px; text-indent: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Weighted-average number of ordinary shares outstanding&#151;diluted</font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">127,624,447</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">114,687,240</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">115,534,122</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="padding: 0px; text-align: left; text-indent: 0px; font-family: 'times new roman'; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'Times New Roman'; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman'; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="padding: 0px; text-indent: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>(Loss)/income per share- basic</strong></font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: right; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: right; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: right; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="padding: 0px; text-align: left; text-indent: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Continuing operations</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">0.01</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(0.07</font></font></td> <td style="padding: 0px 10px 0px 0px; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">0.05</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="padding: 0px; text-align: left; text-indent: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Discontinued operations</font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(0.02</font></font></td> <td style="padding: 0px 10px 0px 0px; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="padding: 0px 5px; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="padding: 0px; text-indent: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Total loss/income per share - basic</font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(0.01</font></font></td> <td style="padding: 0px 10px 0px 0px; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="padding: 0px 5px; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(0.07</font></font></td> <td style="padding: 0px 10px 0px 0px; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="padding: 0px 5px; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">0.05</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="padding: 0px; text-indent: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>(Loss)/income per share- diluted</strong></font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: right; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: right; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: right; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="padding: 0px; text-align: left; text-indent: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Continuing operations</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">0.01</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(0.07</font></font></td> <td style="padding: 0px 10px 0px 0px; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">0.04</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="padding: 0px; text-align: left; text-indent: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Discontinued operations</font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(0.02</font></font></td> <td style="padding: 0px 10px 0px 0px; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="padding: 0px 5px; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="padding: 0px; text-indent: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Total loss/income per share - diluted</font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(0.01</font></font></td> <td style="padding: 0px 10px 0px 0px; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="padding: 0px 5px; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(0.07</font></font></td> <td style="padding: 0px 10px 0px 0px; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="padding: 0px 5px; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">0.04</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> </table> </div> </div> </div> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Outstanding share options and non-vested restricted shares as of December 31 2013 were excluded from the computation of dilutive loss per share for the year ended December 31 2013 because of its anti-dilutive effect. For the year ended December 31, 2012, <font>24,544,023</font> share options and non-vested restricted shares were excluded from the calculation of dilutive earnings per share because of their anti-dilutive effect. For the year ended December 31, 2014, <font>14,640,968</font> share options and non-vested restricted shares were excluded from the calculation of dilutive earnings per share because of their anti-dilutive effect. The dilutive effects of the options and non-vested restricted shares are calculated using the treasury stock method.</font></p> </div> <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div style="display: block;"> <div class="CursorPointer"> <table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; border-collapse: collapse; font-size-adjust: none; font-stretch: normal;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td style="padding: 0px; text-align: center; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;" colspan="10" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Years ended December 31</strong></font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td style="padding: 0px; text-align: center; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2012</strong></font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="padding: 0px; text-align: center; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2013</strong></font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="padding: 0px; text-align: center; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2014</strong></font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="padding: 0px; text-indent: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Numerator:</font></td> <td style="font-family: 'Times New Roman';"></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman';"></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman';"></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="padding: 0px; width: 61%; text-align: left; text-indent: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Net income /(Loss) from continuing operations attributable to Vimicro International Corporation</font></td> <td style="padding: 0px; width: 1%; font-family: 'times new roman';"></td> <td style="padding: 0px; width: 1%; text-align: left; font-family: 'times new roman';"></td> <td style="padding: 0px; width: 10%; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,383</font></font></td> <td style="padding: 0px 5px; width: 1%; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; width: 1%; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; width: 1%; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; width: 10%; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(8,418</font></font></td> <td style="padding: 0px 10px 0px 0px; width: 1%; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="padding: 0px 5px; width: 1%; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; width: 1%; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; width: 10%; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">4,697</font></font></td> <td style="padding: 0px 5px; width: 1%; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="padding: 0px; text-align: left; text-indent: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Loss from discontinued operations attributable to Vimicro International Corporation</font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(2,002</font></font></td> <td style="padding: 0px 10px 0px 0px; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="padding: 0px 5px; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="padding: 0px; text-align: left; text-indent: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Net (Loss)/income attributable to Vimicro International Corporation</font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(619</font></font></td> <td style="padding: 0px 10px 0px 0px; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="padding: 0px 5px; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(8,418</font></font></td> <td style="padding: 0px 10px 0px 0px; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="padding: 0px 5px; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">4,697</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="padding: 0px; text-align: left; text-indent: 0px; font-family: 'times new roman'; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'Times New Roman'; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman'; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="padding: 0px; text-indent: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Denominator (in number of shares):</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: right; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: right; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: right; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="padding: 0px; text-align: left; text-indent: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Weighted-average ordinary shares outstanding - basic</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">123,253,931</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">114,687,240</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">98,443,702</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="padding: 0px; text-align: left; text-indent: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Dilutive effect of stock options and restricted shares</font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">4,370,516</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">17,090,420</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="padding: 0px; text-indent: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Weighted-average number of ordinary shares outstanding&#151;diluted</font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">127,624,447</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">114,687,240</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">115,534,122</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="padding: 0px; text-align: left; text-indent: 0px; font-family: 'times new roman'; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'Times New Roman'; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman'; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="padding: 0px; text-indent: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>(Loss)/income per share- basic</strong></font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: right; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: right; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: right; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="padding: 0px; text-align: left; text-indent: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Continuing operations</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">0.01</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(0.07</font></font></td> <td style="padding: 0px 10px 0px 0px; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">0.05</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="padding: 0px; text-align: left; text-indent: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Discontinued operations</font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(0.02</font></font></td> <td style="padding: 0px 10px 0px 0px; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="padding: 0px 5px; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="padding: 0px; text-indent: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Total loss/income per share - basic</font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(0.01</font></font></td> <td style="padding: 0px 10px 0px 0px; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="padding: 0px 5px; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(0.07</font></font></td> <td style="padding: 0px 10px 0px 0px; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="padding: 0px 5px; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">0.05</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="padding: 0px; text-indent: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>(Loss)/income per share- diluted</strong></font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: right; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: right; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: right; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="padding: 0px; text-align: left; text-indent: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Continuing operations</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">0.01</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(0.07</font></font></td> <td style="padding: 0px 10px 0px 0px; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">0.04</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="padding: 0px; text-align: left; text-indent: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Discontinued operations</font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(0.02</font></font></td> <td style="padding: 0px 10px 0px 0px; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="padding: 0px 5px; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="padding: 0px; text-indent: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Total loss/income per share - diluted</font></td> <td style="padding: 0px; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(0.01</font></font></td> <td style="padding: 0px 10px 0px 0px; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="padding: 0px 5px; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(0.07</font></font></td> <td style="padding: 0px 10px 0px 0px; text-align: left; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="padding: 0px 5px; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding: 0px; text-align: right; font-family: 'times new roman'; vertical-align: bottom; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">0.04</font></font></td> <td style="padding: 0px 5px; text-align: left; font-family: 'times new roman'; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> </table> </div> </div> </div> <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Comprehensive (loss)/income</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Comprehensive (loss)/income is defined as the changes in equity of the Group during a period from transactions and other events and circumstances excluding transactions resulting from investments by owners and distributions to owners. Among other disclosures, ASC 220,<i> Comprehensive income</i>, requires that all items that are required to be recognized under current accounting standards as components of comprehensive loss be reported in a financial statement that is displayed with the same prominence as other financial statements. For each of the periods presented, the Company's comprehensive (loss)/income includes net (loss)/income and foreign currency translation adjustments, deferred income received from disposal of a subsidiary&#160;and unrealized gain on marketable equity securities are presented in the consolidated statement of comprehensive income/(loss).</font></p> </div> <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Leases</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In accordance with ASC 840,<i> Leases</i> (&#147;ASC 840&#148;), leases for a lessee are classified at the inception date as either a capital lease or an operating lease. The Company assesses a lease to be a capital lease if any of the following conditions exist: a) ownership is transferred to the lessee by the end of the lease term, b) there is a bargain purchase option, c) the lease term is at least 75% of the property's estimated remaining economic life or d) the present value of the minimum lease payments at the beginning of the lease term is 90% or more of the fair value of the leased property to the lessor at the inception date. A capital lease is accounted for as if there was an acquisition of an asset and an incurrence of an obligation at the inception of the lease. The capital lease obligation reflects the present value of future rental payments, discounted at the appropriate interest rates. The cost of the asset is amortized over the lease term. The cost of the asset under capital lease is amortized as set out under the property, equipment and software (Note 8).</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Operating lease expenses are recognized to the consolidated statements of comprehensive loss/income on a straight-line basis over the applicable lease term. The Group normalizes rental expense on operating leases that involve rent concessions.</font></p> </div> <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Noncontrolling interests</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Noncontrolling interests are recognized to reflect the portion of the equity of majority-owned subsidiary which is attributable, directly or indirectly, to the noncontrolling shareholder. Currently, the noncontrolling interests in the Company's consolidated financial statements consist primarily of noncontrolling interests for Tianjin SAMC.</font></p> </div> <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Treasury stock</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Company accounted for those shares repurchased as treasury stock at cost in accordance with ASC 505-30, <i>Treasury Stock</i>, and shows them separately in the shareholders' equity as the Company believed that these shares are no longer outstanding and are held. Treasury stock is accounted for under the cost method.</font></p> </div> <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Recent accounting pronouncements</i></b></font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In April 2014, The FASB issued <i>Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity, </i>which changes the threshold for reporting discontinued operations and adds new disclosures. The new guidance defines a discontinued operation as a disposal that &#147;represents a strategic shift that has (or will have) a major effect on an entity's operations and financial results.&#148; The standard is required to be adopted by public business entities in annual periods beginning on or after December 15, 2014, and interim periods within those annual periods. Entities may &#147;early adopt&#148; the guidance for new disposals. The Group is currently evaluating the impact on its consolidated financial statements of adopting this guidance.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 21.8pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In May 2014, The FASB is amending the FASB <i>Accounting Standards Codification</i> and creating a new Topic 606, <i>Revenue from Contracts with Customers</i>, to supersede the revenue recognition requirements in Topic 605, <i>Revenue Recognition</i>, and most industry-specific guidance throughout the Industry Topics of the Codification. Additionally, the amendments supersede some cost guidance included in Subtopic 605-35, <i>Revenue Recognition&#151;Construction-Type and Production-Type Contracts</i>. For a public entity, the amendments are effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Early application is not permitted. The Group is currently evaluating the impact on its consolidated financial statements of adopting this guidance.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 20.4pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In June 2014, under ASC 718, <i>Compensation&#151;Stock Compensation</i>, the FASB issued Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period. These amendments apply to all reporting entities that grant their employees share-based payments in which the terms of the award provide that a performance target that affects vesting could be achieved after the requisite service period. That is the case when an employee is eligible to retire or otherwise terminate employment before the end of the period in which a performance target could be achieved and still be eligible to vest in the award if and when the performance target is achieved. For all entities, the amendments are effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. Earlier adoption is permitted. The Group is currently evaluating the impact on its consolidated financial statements of adopting this guidance. .</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 32.6pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0pt 0px; text-align: justify; text-indent: 24pt; font-size-adjust: none; font-stretch: normal;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In August 2014, the FASB issued <i>Presentation of Financial Statements &#150; Going Concern</i>. This standard requires management to evaluate for each annual and interim reporting period whether it is probable that the reporting entity will not be able to meet its obligations as they become due within one year after the date that the financial statements are issued. If the entity is in such a position, the standard provides for certain disclosures depending on whether or not the entity will be able to successfully mitigate its going concern status. This guidance is effective for annual periods ending after December 15, 2016 and interim periods within annual periods beginning after December 15, 2016. Early application is permitted. The Company does not anticipate that this adoption will have a significant impact on its financial position, results of operations, or cash flows.</font></p> </div> 10 10 0 0 0 0 4921000 4903000 1876000 <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div class="CursorPointer"> <table style="font: 10pt times new roman, times, serif; margin-top: 0; margin-bottom: 0;" cellpadding="0" cellspacing="0"> <tr style="vertical-align: top; text-align: justify;"> <td style="width: 0.33in; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>3.</b></font></td> <td style="text-align: justify; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>VARIABLE INTEREST ENTITY</b></font></td> </tr> </table> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>&#160;</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><i><font style="text-decoration: underline;">Basic Information</font></i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">PRC laws and regulations prohibit or restrict foreign ownership of value-added telecommunications services. To comply with these foreign ownership restrictions, the Company operates its value-added telecommunications services in the PRC through its VIE. The paid-in capital of the VIE was funded by the Company through a loan extended to the authorized individuals. The Company has entered into certain exclusive agreements with the VIE through Vimicro China which obligates Vimicro China to absorb a majority of the risk of loss from the VIE activities and entitles Vimicro China to receive a majority of residual returns. In addition, the Company has entered into certain agreements with the authorized individuals through Vimicro China, including loan agreements for the paid-in capital of the VIE, option agreements to acquire the equity interests in the VIE when permitted by the PRC laws, and share pledge agreements for the equity interests in the VIE held by the authorized individuals.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><i><font style="text-decoration: underline;">Financial Information</font></i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">As of December 31, 2013, the carrying amounts of the total current assets and shareholder's equity of the VIE were $<font>1,521</font> and $<font>1,514</font>, respectively. As of December 31, 2014, the carrying amounts of the total current assets and shareholder's equity of the VIE were $<font>1,511</font> and $<font>1,478</font>, respectively. The VIE has no substantive operation since incorporation and the Company has not provided financial or other support during the periods presented to the VIE that it was not previously contractually required to provide.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><i><font style="text-decoration: underline;">Summary of significant agreements currently in effect</font></i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><i>&#160;</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><i>Loan agreement</i> between Vimicro China and the shareholders of Vimicro Sky-Vision, Vimicro China granted interest-free loans to the legal shareholders of the Vimicro Sky-Vision in the amount that is equal to their respective capital contribution in the Vimicro Sky-Vision. The loans can be repaid only with proceeds from the sale of all of the respective shareholder's equity interests in the applicable Vimicro Sky-Vision to Vimicro China or its designated representatives pursuant to the applicable exclusive equity interest purchase right agreement.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><i>Business operations agreement</i>&#160;among&#160;Vimicro China, Vimicro Sky-Vision and the shareholders of Vimicro Sky-Vision, Vimicro China should provide financial support and fund any losses when Vimicro Sky-Vision require it, and Vimicro Sky-Vision together with its shareholder jointly agree that Vimicro Sky-Vision should not conduct any transaction which may materially affects its assets, obligations and rights on the company's operation without obtaining a prior written consent from Vimicro China, including conduct any business, make any capital expenditure, appoint or change any directors etc. This agreement sets forth the rights of Vimicro China to control the actions of the shareholders of Vimicro Sky-Vision.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><i>Power of Attorney</i> among Vimicro China, Vimicro Sky-Vision and the shareholders of Vimicro Sky-Vision. This agreement sets forth the rights of Vimicro China to control the actions of the shareholders of Vimicro Sky-Vision.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><i>Exclusive technical and consulting service agreements</i> between Vimicro China and Vimicro Sky-Vision, Vimicro China has the exclusive right to provide technical and consulting services to Vimicro Sky-Vision, including product development and application services, technology support, intellectual property rights, marketing, staffing, business operation and maintenance services to Vimicro Sky-Vision for a fee. Vimicro Sky-Vision has agreed to pay a service fee to Vimicro China equal to a certain percentage of its respective total operating margin. The technical and consulting service agreements also transfer all of the economic benefit of intellectual property created by Vimicro Sky-Vision to Vimicro China. And it will remain in effect indefinitely and can be terminated only by Vimicro China unless otherwise required by law.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><i>Equity interest purchase right agreement</i>&#160;<font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 32px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">among Vimicro China, Vimicro Sky-Vision and the shareholders of Vimicro Sky-Vision, the legal shareholders</font>&#160;of Vimicro Sky-Vision irrevocably granted Vimicro China or its designated person an irrevocable, unconditional and exclusive option to purchase, to the extent permitted by applicable PRC laws, all of the equity interest in Vimicro Sky-Vision from the legal shareholders. The purchase price for the entire equity interest is to be calculated based on the paid-up amount of the relevant equity interest or the minimum price permitted by applicable PRC laws. The exclusive interest purchase right agreement will remain in effect until all of the equity interests in Vimicro Sky-Vision have been duly transferred to Vimicro China or its designated representative.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><i>Share pledge agreement</i>&#160;among&#160;<font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 32px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">Vimicro China, Vimicro Sky-Vision and the shareholders</font> of Vimicro Sky-Vision, the legal shareholders of Vimicro Sky-Vision have pledged their respective equity interests to Vimicro China to secure the performance of the obligations of Vimicro Sky-Vision and their legal shareholders under the applicable exclusive technical licensing and consulting services agreement, equity interest purchase right agreement and loan agreement. The Share pledge agreements will remain in effect until the secured obligations have been fully performed by Vimicro Sky-Vision or released by Vimicro China.</font></p> </div> 0.18 0.19 0.14 0.49 2 4202000 1186000 2900000 2900000 1186000 0.3526 -1063000 1289000 -2352000 -17000 -2369000 -740000 <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div class="CursorPointer"> <table style="font: 10pt times new roman, times, serif; margin-top: 0; margin-bottom: 0;" cellpadding="0" cellspacing="0"> <tr style="vertical-align: top; text-align: justify;"> <td style="width: 0.33in; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>4.</b></font></td> <td style="text-align: justify; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>DISCONTINUED OPERATIONS</b></font></td> </tr> </table> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In order to focus on core PC and embedded notebook camera video&#160;processor and video surveillance solutions businesses, while at the same time streamlining the cost structure, in December 2011, the Company disposed of its mobile business to a newly established entity, Vimicro Qingdao, a related party, which was <font>18</font>% owned by Vimicro China, <font>19</font>% owned by Vimicro Wuxi, <font>14</font>% owned by VMF Consulting Company and <font>49</font>% owned by <font>two</font> former key employees of the mobile business. Transaction consideration of $<font>4,202</font> was established with the assistance of a third party valuation firm. Following the disposal, the investment in Vimicro Qingdao is accounted for at cost less impairment and is not subject to consolidation. The disposal transaction was completed in December 2011. Due to the continued loss sustained by Vimicro Qingdao, in April 2013, the Group entered into a settlement agreement with Vimicro Qingdao whereby the Group agreed to forgive a portion of outstanding consideration in an amount of $<font>1,186</font> from Vimicro Qingdao, based on the condition that $<font>2,900</font> will be received by June 30, 2013. On August 31, 2013, the Group received a payment of $<font>2,900</font> from Vimicro Qingdao. The remaining outstanding amount due from Vimicro Qingdao amounting to $<font>1,186</font> was written off by the Group as of December 31, 2012 and recognized as general and administrative expenses under continuing operations since the resolution of outstanding purchase consideration was not related to the operations of the disposed mobile business prior to the disposal but based on events and circumstances occurring after the disposal.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In July 2012, the Company disposed of <font>35.26</font>% of the equity interest in Visiondigi to an individual third party at a consideration of $<font>49</font> in the effort to divest a loss-making non-core business. The Company derecognized the assets and liabilities of Visiondigi at their carrying amounts, which was $ <font>4,082</font> and $ <font>5,847</font> respectively, and recognized a loss on divestiture of $<font>740</font>. Following the disposal, the Company owns <font>18</font>% of Visiondigi, which includes holding a shareholding of <font>3.94</font>% on behalf of Ningbo Sunny and <font>2.03</font>% on behalf of <font>three</font> individuals. The disposal transaction was completed in July 2012. In connection with the disposal, the Group has written off the outstanding balance due from Visiondigi in an amount of $<font>1,747</font> and included this in the loss on disposal. After the disposal, the Company will have continuation of cost-generating activities with Visiondigi which will generate insignificant continuing cash outflows. Related activities before the disposal included prepayments of $<font>4,904</font> and $<font>292</font> and purchased inventory of $<font>3,765</font> and $<font>33</font> from Visiondigi in 2011 and 2012, respectively. The Company ceased to control Visiondigi as a result of the disposal and also does not expect significant direct cash flows nor significant continuing involvement in the operations of Visiondigi after the disposal. Accordingly, the results of operations of Visiondigi have been shown as &#147;Discontinued Operations&#148; in the consolidated statements of comprehensive loss/income for the years ended December 31 2012.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The results of operations of the mobile business and Visiondigi were separately presented on the consolidated statements of comprehensive loss/income under &#147;Discontinued Operations&#148; for the years ended December 31 2012 which included:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"> <tr style="vertical-align: bottom;"> <td style="text-align: justify; font-family: 'times new roman'; padding: 0px;"></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2012</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; text-indent: 0px; font-family: 'times new roman'; padding: 0px; width: 87%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Net revenue</font></td> <td style="font-family: 'times new roman'; padding: 0px; width: 1%;"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,367</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Cost of revenue</font></td> <td style="font-family: 'times new roman'; padding: 0px;"></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(2,430</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Gross profit</font></td> <td style="font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(1,063</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Operating expenses</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(1,289</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Net loss from operations before income tax</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(2,352</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Other income/(loss)</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(17</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Income tax expense</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Net loss from operations</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(2,369</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Net loss on disposal</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(740</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Net loss</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(3,109</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> </table> </div> </div> <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"> <tr style="vertical-align: bottom;"> <td style="text-align: justify; font-family: 'times new roman'; padding: 0px;"></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2012</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; text-indent: 0px; font-family: 'times new roman'; padding: 0px; width: 87%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Net revenue</font></td> <td style="font-family: 'times new roman'; padding: 0px; width: 1%;"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,367</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Cost of revenue</font></td> <td style="font-family: 'times new roman'; padding: 0px;"></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(2,430</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Gross profit</font></td> <td style="font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(1,063</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Operating expenses</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(1,289</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Net loss from operations before income tax</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(2,352</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Other income/(loss)</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(17</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Income tax expense</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Net loss from operations</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(2,369</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Net loss on disposal</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(740</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Net loss</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(3,109</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> </table> </div> 1727000 10000 22000 <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div class="CursorPointer"> <table style="font: 10pt times new roman, times, serif; margin-top: 0; margin-bottom: 0;" cellpadding="0" cellspacing="0"> <tr style="vertical-align: top; text-align: justify;"> <td style="width: 0in;"></td> <td style="width: 0.33in; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>5.</b></font></td> <td style="text-align: justify; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>RESTRICTED CASH</b></font></td> </tr> </table> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Restricted cash of $<font>1,727</font> and $<font>10</font> primarily related to the government grants and cash pledged for long-term bank loans of Vimicro Tianjin as of December 31, 2013 and 2014, respectively. Restricted cash of $<font>22</font> primarily related to customer deposit to develop retail business as of December 31, 2014. The withdrawal of cash is restricted, unless it is used for payments related to the specific research and development projects or general operations purposes for which the grants or loans were provided.</font></p> </div> 12786000 12749000 1021000 970000 5000 2524000 7438000 3793000 3971000 308000 1608000 3461000 21427000 48862000 43669000 <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div class="CursorPointer"> <table style="font: 10pt times new roman, times, serif; margin-top: 0; margin-bottom: 0;" cellpadding="0" cellspacing="0"> <tr style="vertical-align: top; text-align: justify;"> <td style="width: 0in;"></td> <td style="width: 0.33in; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>6.</b></font></td> <td style="text-align: justify; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>INVENTORIES</b></font></td> </tr> </table> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 31.9pt; text-align: justify; text-indent: -31.9pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>&#160;</b></font></p> <div class="CursorPointer"> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;" width="100%"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="6" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>As of December 31</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2013</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2014</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Inventories</font></td> <td style="font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman';"></td> <td style="text-align: right; font-family: 'times new roman';"></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; padding-left: 0.25in; font-family: 'times new roman'; width: 74%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Finished goods</font></td> <td style="font-family: 'times new roman'; width: 1%;"></td> <td style="text-align: left; font-family: 'times new roman'; width: 1%;"></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">12,786</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">12,749</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; padding-left: 0.25in; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Raw materials</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,021</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">970</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 0.25in; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Work in process</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">5</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="padding-bottom: 2.5pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">13,812</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">13,719</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> </table> </div> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The finished goods included consignment inventories of $<font>2,524</font> and $<font>7,438</font> as of December 31, 2013 and 2014, respectively. The inventory reserve was $<font>3,793</font> and $<font>3,971</font> as of December 31, 2013 and 2014, respectively. The cost of revenue of sold inventories which purchased from related parties was $<font>308</font> and $<font>1,608</font> for the year ended December 31, 2013 and 2014, respectively.</font></p> </div> <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;" width="100%"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="6" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>As of December 31</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2013</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2014</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Inventories</font></td> <td style="font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman';"></td> <td style="text-align: right; font-family: 'times new roman';"></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; padding-left: 0.25in; font-family: 'times new roman'; width: 74%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Finished goods</font></td> <td style="font-family: 'times new roman'; width: 1%;"></td> <td style="text-align: left; font-family: 'times new roman'; width: 1%;"></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">12,786</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">12,749</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; padding-left: 0.25in; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Raw materials</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,021</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">970</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 0.25in; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Work in process</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">5</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="padding-bottom: 2.5pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">13,812</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">13,719</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> </table> </div> 270000 224000 4274000 4731000 927000 298000 2046000 2156000 7409000 283000 108000 18000 72200000 15932000 <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div class="CursorPointer"> <table style="font: 10pt times new roman, times, serif; margin-top: 0; margin-bottom: 0;" cellpadding="0" cellspacing="0"> <tr style="vertical-align: top; text-align: justify;"> <td style="width: 0.33in; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>7.</b></font></td> <td style="text-align: justify; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>PREPAYMENTS AND OTHER CURRENT ASSETS</b></font></td> </tr> </table> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>&#160;</b></font></p> <div> <div style="display: block; ;display: block;"> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="6" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>As of December 31</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2013</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2014</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; width: 74%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Amounts due from employees</font></td> <td style="font-family: 'times new roman'; width: 1%;"></td> <td style="text-align: left; font-family: 'times new roman'; width: 1%;"></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">270</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">224</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Prepayments to suppliers and other third parties</font></td> <td style="font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman';"></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">4,274</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">4,731</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Prepaid expenses</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">927</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">298</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Other receivables</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">2,046</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">2,156</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="padding-bottom: 2.5pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">7,517</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">7,409</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> </table> </div> </div> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>&#160;</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The provision for doubtful accounts charged amounted to <font>nil</font>, $<font>283</font> and $<font>108</font> in for the years ended December 31, 2012, 2013 and 2014, respectively. The provision for doubtful accounts was reversed by $<font>18</font>, <font>nil</font> and <font>nil</font> for the years ended December 31, 2012, 2013 and 2014, respectively.</font></p> </div> <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div style="display: block; ;display: block;"> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="6" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>As of December 31</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2013</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2014</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; width: 74%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Amounts due from employees</font></td> <td style="font-family: 'times new roman'; width: 1%;"></td> <td style="text-align: left; font-family: 'times new roman'; width: 1%;"></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">270</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">224</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Prepayments to suppliers and other third parties</font></td> <td style="font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman';"></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">4,274</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">4,731</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Prepaid expenses</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">927</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">298</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Other receivables</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">2,046</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">2,156</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="padding-bottom: 2.5pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">7,517</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">7,409</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> </table> </div> </div> </div> 11436000 11282000 1639000 1633000 3438000 3454000 761000 1892000 1511000 1616000 3457000 16453000 1613000 1607000 54140000 2108000 1268000 1066000 55000 347000 528000 1639000 P20Y P15Y 1639000 12000 46000 P35Y 19640000 21046000 535000 706000 15518000 15289000 <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div class="CursorPointer"> <table style="font: 10pt times new roman, times, serif; margin-top: 0; margin-bottom: 0;" cellpadding="0" cellspacing="0"> <tr style="vertical-align: top; text-align: justify;"> <td style="width: 0in;"></td> <td style="width: 0.33in; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>8.</b></font></td> <td style="text-align: justify; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>PROPERTY, EQUIPMENT AND SOFTWARE, NET</b></font></td> </tr> </table> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>&#160;</b></font></p> <div> <div style="display: block;"> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="6" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>As of December 31</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2013</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2014</strong></font><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="text-align: center; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="text-align: center; font-family: 'times new roman'; padding: 0px;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 74%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Equipment and office furniture</font></td> <td style="font-family: 'times new roman'; padding: 0px; width: 1%;"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 1%;"></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">11,436</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">11,282</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Property under capital lease</font></td> <td style="font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,639</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,633</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Leasehold improvements</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">3,438</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">3,454</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Mask and tooling</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">761</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,892</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Motor vehicles</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,511</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,616</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Purchased software</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">3,457</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">3,461</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Construction in progress</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">21,427</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">48,862</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">43,669</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">72,200</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; text-indent: 10px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Less: accumulated depreciation</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(15,932</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(16,453</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; text-indent: 20px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">impairment loss</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(1,613</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(1,607</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">26,124</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">54,140</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> </table> </div> </div> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>&#160;</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Depreciation expenses for the years ended December 31, 2012, 2013 and 2014 were $<font>2,108</font>, $<font>1,268</font> and $<font>1,066</font>, respectively.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">For the years ended December 31, 2012, 2013 and 2014, total interest capitalized was $<font>55</font>, $<font>347</font> and $<font>528</font>, respectively.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Group entered into a lease agreement and prepaid $<font>1,639</font> for use of a property in 2013. The lease has an initial term of <font>20</font> years and may be extended for a <font>15</font>-year period if the Group pays the incidental property management fees. After this 15-year period, the Group may continue to use this property indefinitely subject to the Group paying the incidental property management fees. The Group recorded the $<font>1,639</font> as &#147;Property under capital lease&#148; and amortization expenses were <font>nil</font>, $<font>12</font> and $<font>46</font> for the years ended December 31, 2012, 2013, and 2014, respectively. The property is being amortized over the estimated useful life of the property which was determined to be <font>35</font> years. No future minimum lease payments are payable by the Group as the rental payments have been fully prepaid.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The amount of construction in progress to secure the long-term bank loan of Vimicro Tianjin by means of collateral was $<font>19,640</font> and $<font>21,046</font> as of December 31, 2013 and 2014, respectively.</font></p> </div> <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div style="display: block;"> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="6" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>As of December 31</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2013</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2014</strong></font><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="text-align: center; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="text-align: center; font-family: 'times new roman'; padding: 0px;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 74%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Equipment and office furniture</font></td> <td style="font-family: 'times new roman'; padding: 0px; width: 1%;"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 1%;"></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">11,436</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">11,282</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Property under capital lease</font></td> <td style="font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,639</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,633</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Leasehold improvements</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">3,438</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">3,454</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Mask and tooling</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">761</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,892</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Motor vehicles</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,511</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,616</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Purchased software</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">3,457</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">3,461</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Construction in progress</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">21,427</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">48,862</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">43,669</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">72,200</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; text-indent: 10px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Less: accumulated depreciation</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(15,932</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(16,453</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; text-indent: 20px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">impairment loss</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(1,613</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(1,607</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">26,124</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">54,140</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> </table> </div> </div> </div> 0 16053000 15995000 2125000 2071000 245000 224000 172000 173000 173000 173000 173000 14597000 <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div style="display: block;"> <div class="CursorPointer"> <table style="font: 10pt times new roman, times, serif; margin-top: 0; margin-bottom: 0;" cellpadding="0" cellspacing="0"> <tr style="vertical-align: top; text-align: justify;"> <td style="width: 0in;"></td> <td style="width: 0.33in; text-align: left; font-family: 'times new roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;"><b>9.</b></font></td> <td style="text-align: justify; font-family: 'times new roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;"><b>LAND USE RIGHTS, NET</b></font></td> </tr> </table> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><b>&#160;</b></font></p> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong> </strong></font></td> <td colspan="6" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>As of December 31</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong> </strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>2013</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>&#160;</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>&#160;</strong></font></td> <td style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;" colspan="2"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>2014</strong></font><font style="font-size: 10pt; font-family: 'times new roman', times;"></font></td> <td style="text-align: center; font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"></font></td> <td style="text-align: center; font-family: 'times new roman'; padding: 0px;" colspan="2"><font style="font-size: 10pt; font-family: 'times new roman', times;"></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; font-family: 'times new roman'; padding: 0px; width: 74%;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Cost:</font></td> <td style="font-family: 'times new roman'; padding: 0px; width: 1%;"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 1%;"></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">16,053</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">15,995</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Less: accumulated amortization</font></td> <td style="font-family: 'times new roman'; padding: 0px;"></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">(535</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">(706</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">15,518</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">15,289</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> </tr> </table> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><b>&#160;</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;">As of December 31, 2012, as part of the effort to divest certain loss-making non-core IC businesses, the Group has continued to explore the options available to dispose non-core IC business related land use rights held under Vimicro Tianjing, Vimicro China, Vimicro Jiangsu, Vimicro Shenzhen and Vimicro Shanghai. Land use rights held under Vimicro Shanghai was disposed of in 2012 through the transfer of the equity interest in the parent company of Vimicro Shanghai. For the year ended December 31, 2013, the Group deconsolidated VMF Shenzhen, including the land use right held by Vimicro Shenzhen (Note 1). As of December 31, 2014, the Group held land use rights under Vimicro Tianjing, Vimicro China, (Note 22 e), and Vimicro Jiangsu.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 21.8pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;">As of December 31, 2013 and 2014, the carrying value of land use rights pledged to secure the long-term bank loan of Vimicro Tianjin was $<font>2,125</font> and $<font>2,071</font> respectively.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Amortization expenses for the years ended December 31, 2012, 2013 and 2014 were $<font>245</font>, $<font>224</font> and $<font>172</font> respectively.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Estimated amortization expense of the land use rights acquired as of December 31, 2014 for each of next five years is as follows:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></p> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>&#160;</strong></font></td> <td colspan="2" style="font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; text-align: center;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>$</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">For the years ending December 31,</font></td> <td style="font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; font-family: 'times new roman'; padding: 0px; width: 87%;"><font style="font-size: 10pt; font-family: 'times new roman', times;">2015</font></td> <td style="font-family: 'times new roman'; padding: 0px; width: 1%;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">173</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">2016</font></td> <td style="font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">173</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">2017</font></td> <td style="font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">173</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">2018</font></td> <td style="font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">173</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">2019 and thereafter</font></td> <td style="font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">14,597</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> </tr> </table> </div> <div class="CursorPointer"> <table style="font: 10pt times new roman, times, serif; margin-top: 0; margin-bottom: 0;" cellpadding="0" cellspacing="0"> <tr style="vertical-align: top; text-align: justify;"> <td style="width: 0in;"></td> </tr> </table> </div> </div> </div> 76000 <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong> </strong></font></td> <td colspan="6" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>As of December 31</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong> </strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>2013</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>&#160;</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>&#160;</strong></font></td> <td style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;" colspan="2"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>2014</strong></font><font style="font-size: 10pt; font-family: 'times new roman', times;"></font></td> <td style="text-align: center; font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"></font></td> <td style="text-align: center; font-family: 'times new roman'; padding: 0px;" colspan="2"><font style="font-size: 10pt; font-family: 'times new roman', times;"></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; font-family: 'times new roman'; padding: 0px; width: 74%;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Cost:</font></td> <td style="font-family: 'times new roman'; padding: 0px; width: 1%;"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 1%;"></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">16,053</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">15,995</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">Less: accumulated amortization</font></td> <td style="font-family: 'times new roman'; padding: 0px;"></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">(535</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">(706</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">15,518</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">15,289</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> </tr> </table> </div> <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>&#160;</strong></font></td> <td colspan="2" style="font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; text-align: center;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>$</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">For the years ending December 31,</font></td> <td style="font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; font-family: 'times new roman'; padding: 0px; width: 87%;"><font style="font-size: 10pt; font-family: 'times new roman', times;">2015</font></td> <td style="font-family: 'times new roman'; padding: 0px; width: 1%;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">173</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">2016</font></td> <td style="font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">173</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">2017</font></td> <td style="font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">173</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">2018</font></td> <td style="font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">173</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; font-family: 'times new roman'; padding: 0px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">2019 and thereafter</font></td> <td style="font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt; font-family: 'times new roman', times;">14,597</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt; font-family: 'times new roman', times;">&#160;</font></td> </tr> </table> </div> <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <table style="font: 10pt times new roman, times, serif; margin-top: 0; margin-bottom: 0;" cellpadding="0" cellspacing="0"> <tr style="vertical-align: top; text-align: justify;"> <td style="width: 0in;"></td> <td style="width: 0.33in; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>10.</b></font></td> <td style="text-align: justify; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES</b></font></td> </tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>&#160;</b></font></p> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;" width="100%"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="6" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>As of December 31</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2013</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2014</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; width: 74%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Accrued salaries and welfare expenses</font></td> <td style="font-family: 'times new roman'; width: 1%;"></td> <td style="text-align: left; font-family: 'times new roman'; width: 1%;"></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">3,281</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">3,688</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Accrued professional fees</font></td> <td style="font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman';"></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,430</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,087</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Payables to intellectual property suppliers</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">170</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Payables to other suppliers</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">533</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">14,994</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Payables to employees</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">76</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">6</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Other accrued expenses</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,142</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">723</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="padding-bottom: 2.5pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">6,632</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">20,498</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> </table> </div> <table style="font: 10pt times new roman, times, serif; margin-top: 0; margin-bottom: 0;" cellpadding="0" cellspacing="0"> <tr style="vertical-align: top; text-align: justify;"> <td style="width: 0in;"></td> </tr> </table> </div> <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;" width="100%"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="6" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>As of December 31</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2013</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2014</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; width: 74%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Accrued salaries and welfare expenses</font></td> <td style="font-family: 'times new roman'; width: 1%;"></td> <td style="text-align: left; font-family: 'times new roman'; width: 1%;"></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">3,281</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">3,688</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Accrued professional fees</font></td> <td style="font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman';"></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,430</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,087</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Payables to intellectual property suppliers</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">170</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Payables to other suppliers</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">533</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">14,994</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Payables to employees</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">76</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">6</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Other accrued expenses</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,142</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">723</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="padding-bottom: 2.5pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">6,632</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">20,498</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> </table> </div> 3281000 3688000 1430000 1087000 170000 533000 14994000 6000 1142000 723000 20498000 0.0672 8201000 9152000 0.0725 4920000 13121000 9152000 4576000 4576000 23117000 186000000 29600000 1.05 0.0672 800000 887000 347000 528000 80000000 13074000 0.30 0.35 <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div class="CursorPointer"> <table style="font: 10pt times new roman, times, serif; margin-top: 0; margin-bottom: 0;" cellpadding="0" cellspacing="0"> <tr style="vertical-align: top; text-align: justify;"> <td style="width: 0.33in; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>11.</b></font></td> <td style="text-align: justify; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>LONG-TERM BANK LOAN</b></font></td> </tr> </table> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; margin-left: 0.1px;" width="100%"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="6" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>As of December 31</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2013</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2014</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; font-family: 'times new roman'; width: 74%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Loan&#160;from&#160;China&#160;Construction&#160;Bank,&#160;Tianjin&#160;branch,&#160;at&#160;<font>6.72</font>%&#160;per&#160;annum</font></td> <td style="font-family: 'times new roman'; width: 1%;"></td> <td style="text-align: left; font-family: 'times new roman'; width: 1%;"></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">8,201</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">9,152</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Loan&#160;from&#160;China&#160;Construction&#160;Bank,&#160;Tianjin&#160;branch,&#160;at&#160;<font>7.25</font>%&#160;per&#160;annum</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">4,920</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; padding-bottom: 2.5pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Total&#160;long-term&#160;bank&#160;loan</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">13,121</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">9,152</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> </table> </div> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">As of December 31, 2014, the contractual maturities of these loans are as follows:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <div style="display: block;"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"> <tr style="vertical-align: bottom;"> <td style="text-align: justify; border-bottom: black 1pt solid; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Year</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; border-bottom: black 1pt solid; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Amount</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; font-family: 'times new roman'; width: 87%; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">2016</font></td> <td style="font-family: 'Times New Roman'; width: 1%; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; width: 1%; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; width: 10%; background-color: rgb(204, 238, 255);"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">4,576</font></font></td> <td style="text-align: left; font-family: 'times new roman'; width: 1%; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; font-family: 'times new roman'; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2017</font></td> <td style="font-family: 'Times New Roman'; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; background-color: #ffffff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">4,576</font></font></td> <td style="text-align: left; font-family: 'times new roman'; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; padding-bottom: 2.5pt; font-family: 'times new roman'; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Total long-term bank loan</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman'; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double; text-align: left; font-family: 'times new roman'; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double; text-align: right; font-family: 'times new roman'; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">9,152</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> </table> </div> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">As of December 31, 2014, the Group's long term bank loan is denominated in RMB and is mainly secured by the Group's facility under construction and the underlying land use rights with net book value of $<font>23,117</font>.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Vimicro Tianjin obtained a credit facility of up to RMB<font>186</font> million ($<font>29,600</font>) from China Construction Bank Tianjin Branch for the construction of a project for the research, development and production of digital high-definition security and surveillance products and solutions on March 28, 2012. The loan may be drawn down in installments no later than March 2017, based on the actual cash needs and the progression of the projects. The loan will bear an interest rate at <font>105</font>% of the benchmark interest rate as published by the People's Bank of China from time to time, adjusted on an annual basis. The interest rate on long-term bank loan as of December 31, 2013 and December 31, 2014 was <font>6.72</font>%. Interest expenses were $<font>800</font> and $<font>887</font> including $<font>347</font> and $<font>528</font> capitalized interest expenses recorded as construction in progress for the years ended December 31, 2013 and December 31, 2014, respectively. The bank loan contains covenants relating to maintenance of certain levels of financial ratios, such as leverage ratio, current ratio, contingent liabilities ratio and balance of contingent liability. The Group was in compliance with the covenants as of December 31, 2013 and December 31, 2014.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Group has drawn down RMB<font>80</font> million ($<font>13,074</font>) under the facility as of December 31, 2014.&#160;The use of the loan is subject to the pre-approval from the bank before each payment is made by the Group. The Group needs to repay <font>30</font>% in 2015 and <font>35</font>% in 2016 of the principal amounts that have been drawn down under the facility and repay the remaining principal amounts with all accrued interest in 2017.&#160;The current portion of the loan of $<font>3,922</font> as of December 31, 2014 was classified as short term bank loan in the consolidated balance sheets.</font></p> </div> <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; margin-left: 0.1px;" width="100%"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="6" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>As of December 31</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2013</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2014</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; font-family: 'times new roman'; width: 74%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Loan&#160;from&#160;China&#160;Construction&#160;Bank,&#160;Tianjin&#160;branch,&#160;at&#160;<font>6.72</font>%&#160;per&#160;annum</font></td> <td style="font-family: 'times new roman'; width: 1%;"></td> <td style="text-align: left; font-family: 'times new roman'; width: 1%;"></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">8,201</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">9,152</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Loan&#160;from&#160;China&#160;Construction&#160;Bank,&#160;Tianjin&#160;branch,&#160;at&#160;<font>7.25</font>%&#160;per&#160;annum</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">4,920</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; padding-bottom: 2.5pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Total&#160;long-term&#160;bank&#160;loan</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">13,121</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">9,152</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> </table> </div> </div> <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div style="display: block;"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"> <tr style="vertical-align: bottom;"> <td style="text-align: justify; border-bottom: black 1pt solid; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Year</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; border-bottom: black 1pt solid; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Amount</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; font-family: 'times new roman'; width: 87%; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">2016</font></td> <td style="font-family: 'Times New Roman'; width: 1%; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; width: 1%; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; width: 10%; background-color: rgb(204, 238, 255);"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">4,576</font></font></td> <td style="text-align: left; font-family: 'times new roman'; width: 1%; background-color: rgb(204, 238, 255);"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; font-family: 'times new roman'; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2017</font></td> <td style="font-family: 'Times New Roman'; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; background-color: #ffffff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">4,576</font></font></td> <td style="text-align: left; font-family: 'times new roman'; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; padding-bottom: 2.5pt; font-family: 'times new roman'; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Total long-term bank loan</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman'; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double; text-align: left; font-family: 'times new roman'; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double; text-align: right; font-family: 'times new roman'; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">9,152</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> </table> </div> </div> 0.0672 3280000 4921000 9805000 52000000 20000000 3280000 30000000 4921000 60000000 9805000 P5Y 15000000 2460000 60000000 9805000 3538100 14152399 1.27 1.99 <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div class="CursorPointer"> <table style="font: 10pt times new roman, times, serif; margin-top: 0; margin-bottom: 0;" cellpadding="0" cellspacing="0"> <tr style="vertical-align: top; text-align: justify;"> <td style="width: 0in;"></td> <td style="width: 0.33in; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>12.</b></font></td> <td style="text-align: justify; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>OTHER LONG-TERM LIABILITIES</b></font></td> </tr> </table> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Other long-term liabilities as of December 31, 2013 and 2014 consisted of the following:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="6" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>As of December 31</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2013</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2014</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; font-family: 'times new roman'; width: 74%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Sales&#160;down&#160;payment&#160;for&#160;properties</font></td> <td style="font-family: 'times new roman'; width: 1%;"></td> <td style="text-align: left; font-family: 'times new roman'; width: 1%;"></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 10%;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>3,280</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 10%;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Interest free government loan</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>4,921</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>9,805</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; padding-bottom: 2.5pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Total other long-term liabilities</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>8,201</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>9,805</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> </table> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In December 2012, Vimicro Jiangsu entered into a cooperative agreement amounted RMB<font>52</font> million ($<font>8,498</font>) with Nanjing Xuanwu District Management and Investment of State-Owned Assets Holdings (Group) Co., Ltd (&#147;Xuanwu SAMC&#148;), to develop properties in Nanjing Xuzhuang. In accordance with the agreement, Xuanwu SAMC paid a RMB<font>20</font> million ($<font>3,280</font>) down payment to Vimicro Jiangsu in May 2013 and the remaining balance is payable when the properties are completed, which is expected to be in 2015.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In May 2012, the Group entered a Strategic Cooperative Framework Agreement, or the Framework Agreement with the Fuzhou Municipal Government to jointly develop, produce, and market SVAC-based security surveillance products in Fuzhou. Under the Framework Agreement, the Fuzhou Municipal Government agreed to grant Vimicro Fuzhou RMB<font>30</font> million ($<font>4,921</font>) of subsidy for which no repayment will be required and provide a RMB<font>60</font> million ($<font>9,805</font>) interest free government loan. The government loan will be repaid in full by Vimicro Fuzhou within <font>five</font> years of its inception, or upon Vimicro Fuzhou becoming a listed company, whichever is earlier.&#160;Up to December 2014, Vimicro Fuzhou received the RMB<font>15</font> million ($<font>2,460</font>) becoming a listed company government grant and RMB<font>60</font> million ($<font>9,805</font>) government loan from the Fuzhou Municipal Government.</font></p> </div> <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="6" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>As of December 31</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2013</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2014</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; font-family: 'times new roman'; width: 74%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Sales&#160;down&#160;payment&#160;for&#160;properties</font></td> <td style="font-family: 'times new roman'; width: 1%;"></td> <td style="text-align: left; font-family: 'times new roman'; width: 1%;"></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 10%;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>3,280</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 10%;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Interest free government loan</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>4,921</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>9,805</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; padding-bottom: 2.5pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Total other long-term liabilities</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>8,201</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>9,805</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> </table> </div> 8498000 0.0001 25000000 5955796 23823184 0.89 1.38 2816938 11267755 1.97 12310834 49243338 19584000 9265895 9265891 9778103 100000 20000 800000 1500000 0.0001 0.485 0.9075 <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div class="CursorPointer"> <table style="font: 10pt times new roman, times, serif; margin-top: 0; margin-bottom: 0;" cellpadding="0" cellspacing="0"> <tr style="vertical-align: top; text-align: justify;"> <td style="width: 0.33in; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>13.</b></font></td> <td style="text-align: justify; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>SHAREHOLDERS' EQUITY</b></font></td> </tr> </table> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><i>Ordinary shares</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Company's Amended and Restated Memorandum and Articles of Association authorize the Company to issue <font>500,000,000</font> shares with a nominal or par value of $<font>0.0001</font> each.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><i><font style="text-decoration: underline;">Share repurchase program</font></i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">On October 12, 2008, the Company announced a share repurchase program authorized by the Board of Directors with total share repurchase amounts up to $<font>25,000</font>.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The shares repurchased for each of the three years ended December 31, 2014 is summarized in the table below. The shares repurchased by the Company were accounted for at cost and there was no reissuance of the shares as of December 31, 2014.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <table style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;" cellpadding="0" cellspacing="0"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>ADS</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Ordinary&#160;shares</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid !important;" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Price&#160;per&#160;ADS <br/>(including&#160;brokerage <br/>commission)</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid !important;" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Total <br/>consideration</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; font-family: 'times new roman'; width: 40%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2012</font></td> <td style="font-family: 'times new roman'; width: 1%;"></td> <td style="text-align: left; font-family: 'times new roman'; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 12%;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>5,955,796</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 12%;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>23,823,184</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; width: 12%;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>0.89</font>-<font>1.38</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 12%;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>7,396</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">2013</font></td> <td style="font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>3,538,100</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>14,152,399</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>1.27</font>-<font>1.99</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>6,638</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">2014</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>2,816,938</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>11,267,755</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>1.97</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>5,550</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="padding-bottom: 2.5pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>12,310,834</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>49,243,338</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; text-align: right; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>19,584</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> </table> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Out of the repurchased share in 2013 and 2014, <font>9,265,895</font> shares and <font>9,265,891</font> shares were retired. The related paid-in capital, additional paid-in capital and treasury stock were reversed in amount of $<font>1</font>, $<font>4,562</font> and $<font>4,563</font>, respectively in 2013. The related paid-in capital, additional paid-in capital and treasury stock were reversed in amount of $<font>1</font>, $<font>4,563</font> and $<font>4,564</font>, respectively in 2014.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 21.8pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In 2014, the Company issued <font>9,778,103</font> shares from treasury stock to the 2005 Share Incentive Plan.</font></p> </div> <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <table style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;" cellpadding="0" cellspacing="0"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>ADS</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Ordinary&#160;shares</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid !important;" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Price&#160;per&#160;ADS <br/>(including&#160;brokerage <br/>commission)</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; border-bottom: #000000 1pt solid !important;" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Total <br/>consideration</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; font-family: 'times new roman'; width: 40%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2012</font></td> <td style="font-family: 'times new roman'; width: 1%;"></td> <td style="text-align: left; font-family: 'times new roman'; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 12%;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>5,955,796</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 12%;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>23,823,184</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; width: 12%;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>0.89</font>-<font>1.38</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 12%;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>7,396</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">2013</font></td> <td style="font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>3,538,100</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>14,152,399</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>1.27</font>-<font>1.99</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>6,638</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">2014</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>2,816,938</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>11,267,755</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>1.97</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>5,550</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="padding-bottom: 2.5pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>12,310,834</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>49,243,338</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; text-align: right; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>19,584</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> </table> </div> 0.875 1.93 1313000 1476000 1618000 3440600 <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div style="display: block;"> <div style="display: block; ;display: block;"> <div style="display: block;"> <div class="CursorPointer"> <table style="font: 10pt times new roman, times, serif; margin-top: 0; margin-bottom: 0;" cellpadding="0" cellspacing="0"> <tr style="vertical-align: top; text-align: justify;"> <td style="width: 0.33in; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>14.</b></font></td> <td style="text-align: justify; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>SHARE-BASED COMPENSATION</b></font></td> </tr> </table> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 28.6pt; text-align: justify; text-indent: -28.6pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Pursuant to ASC 718, the Company recognizes share-based compensation over the requisite service periods and performance condition for any share option and restricted share granted based on the fair values of share option and restricted share on the dates of grant. The fair value of restricted shares and ordinary shares are equal to the market value of the Company's common stock on the date of grant.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Share-based compensation expense recognized for the years ended December 31, 2012, 2013 and 2014 was $<font>2,074</font>, $<font>1,808</font> and $<font>1,726</font> respectively. No income tax benefit was recognized in the consolidated statements of comprehensive loss/income for share-based compensation arrangements for the years ended December 31, 2012, 2013 and 2014, respectively, as no tax deduction was claimed.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Company has <font>two</font> share option plans to honor the contributions of employees and non-employee consultants. The first plan was adopted in March 2004 (the &#147;2004 Plan&#148;). In November 2005, the second plan, the 2005 Share Incentive Plan (the &#147;2005 Plan&#148;) was adopted to replace the 2004 Plan. The options granted under the two share option plans have a contractual life of <font>10</font> years from the date of grant.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><i><font style="text-decoration: underline;">2004 Plan:</font></i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The 2004 Plan provides for the granting of share options to employees and non-employee consultants of the Company. The Company has reserved <font>12,541,080</font> ordinary shares for grant under the 2004 Plan.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">A majority of the options granted under the 2004 Plan have a vesting period of <font>five</font> years. Under the vesting schedule, <font>20</font>% of the share options would vest <font>one</font> year after the grant date, and <font>10</font>% of the share options would vest semi-annually over the next <font>four</font> years, or 1/60 of the shares options shall vest monthly over the subsequent four years.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The 2004 Plan was terminated in November 2005, and the remaining options available for grant were transferred to the 2005 Plan.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><i>Employee options:</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Under the 2004 Plan, the Company granted total of <font>10,006,600</font> share options to employees with an exercise price range of between $<font>1.60</font> and $<font>3.00</font>.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Company recognized no compensation expenses for the years ended December 31, 2012, 2013 and 2014 respectively.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><i>Non-employee options:</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Under the 2004 Plan, for the service of non-employee consultants, the Company granted a total of <font>664,800</font> share options to non-employees with an exercise price range of between $<font>1.60</font> and $<font>2.50</font>.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Company recorded no consultancy fee expense with respect to research and development activities for the years ended December 31, 2012, 2013 and 2014, respectively.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><i><font style="text-decoration: underline;">2005 Plan:</font></i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The 2005 Plan provides for the granting of share options and restricted shares to employees and non-employee consultants of the Company. The <font>3,065,505</font> share options which were not issued under the 2004 Plan were transferred to the 2005 Plan.&#160;Subsequently, another <font>10,000,000</font> shares were authorized for future grants.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Options granted thereafter are made under the 2005 Plan and no new options were granted under the 2004 Plan. The Company has reserved <font>13,065,505</font> ordinary shares for grant and authorized another <font>18,000,000</font> shares under the 2005 Plan as of December 31, 2014. The Board of Directors may terminate the 2005 Plan at any time at its discretion.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><i>Employee options:</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Options granted under the 2005 Plan have vesting periods of <font>one</font> year, <font>three</font> years or <font>five</font> years. For options with one year vesting period, <font>16.7</font>% of the options will be vested one year or each quarter after the vesting commencement date for every quarterly performance review for the first <font>three</font> quarters of the year in which the Company gives employees satisfactory evaluations, <font>50</font>% of the shares will be vested one year after the vesting commencement date if the Company gives employees satisfactory evaluations on their annual performance review. For options with a three year vesting period, 1/3 of the share options will vest <font>one</font> year after the grant date and 1/6 shall vest semi-annually over the next <font>two</font> years. For options with a five year vesting period, <font>20</font>% of the share options will vest <font>one</font> year after the grant date, and <font>10</font>% of the share options shall vest semi-annually over the next <font>four</font> years.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Under the 2005 Plan, the Company granted <font>31,754,037</font> share options to employees as of December 31, 2012. During 2013, the Company granted <font>2,423,324</font> and <font>210,000</font> shares options with an exercise price of $<font>0.0001</font> and $<font>0.36</font>, respectively. In 2014, the Company granted <font>524,000</font>, <font>100,000</font>, <font>20,000</font>, <font>800,000</font> and <font>1,500,000</font> shares options with an exercise price of $<font>0.0001</font>, $<font>0.485</font>, $<font>0.9075</font>, $<font>0.875</font> and $<font>1.93</font>, respectively.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Company recognized $<font>1,313</font>, $<font>1,476</font> and $<font>1,618</font> in share-based compensation expense for the years ended December 31, 2012, 2013 and 2014, respectively.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><i>Employee restricted shares:</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Under the 2005 Plan, the Company granted <font>3,440,600</font> restricted shares up to December 31, 2014 to employees with vesting period between <font>one</font> and <font>five</font> years.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Company recognized $<font>44</font>, $<font>40</font> and $<font>15</font> in share-based compensation expense for the years ended December 31, 2012, 2013 and 2014, respectively.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><i>Non-employee options:</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Under the 2005 Plan, up to December 31, 2014, for services provided by non-employee consultants, the Company granted <font>2,262,892</font> share options to non-employees with an exercise price range of between $<font>0.0001</font> and $<font>4.55</font>. Nil, <font>597,260</font> and <font>531,132</font> non-employee share options were granted in the years ended December 31, 2012, 2013 and 2014, respectively.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">As of December 31, 2013, The Company granted <font>575,108</font> and <font>22,152</font> shares of performance-based stock options to <font>14</font> employees of Beijing Zhongxing Yingcai Technology Ltd. (&#147;Zhongxinyingcai&#148;), which is the major shareholder of Vimicro Qingdao, and <font>one</font> employee of Zhongtianxin, respectively. In 2014, the <font>14</font> employees of Zhongxinyingcai transferred into and became the Company's employee. In addition, the Company new granted <font>19,728</font> and <font>11,404</font> shares of performance-based stock options to <font>one</font> employee of Zhongxinyingcai and <font>two</font> employees of Zhongtianxin, respectively, in 2014. The Company also granted <font>100,000</font> and <font>400,000</font>&#160;shares of service-based stock options to <font>one</font> employee of Zhongxinyingcai and <font>three</font> employees of Zhongtianxin, respectively. <font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 32px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">The&#160;grants&#160;in&#160;2013&#160;and&#160;2014&#160;were&#160;for&#160;an&#160;exchange&#160;of&#160;consultancy&#160;services. </font>All of share-based compensation expenses were recognized in an amount of $<font>230</font> and $<font>84</font> relating to these individuals of the Group in 2013 and in 2014.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Company recorded consultancy fee expense with respect to research and development and selling activities of $<font>2</font>, $<font>230</font> and $<font>93</font> for the years ended December 31, 2012, 2013 and 2014, respectively.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><i>Non-employee restricted shares:</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Company recognized nil in share-based compensation for the years ended December 31, 2012, 2013 and 2014, respectively.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Under the 2005 Plan, up to December 31, 2010, the Company granted <font>200,000</font> restricted shares with a vesting period of <font>three</font> years and <font>30,000</font> restricted shares with a vesting period of <font>one</font> year to non-employees. The vesting schedules are that 1/36 of the restricted shares will vest each month and <font>100</font>% vested in one year after the grant date, respectively.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><i>Option repricing under the 2004 Plan and 2005Plan:</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">On May 18, 2012, the Company repriced <font>20,484,420</font> outstanding options which were previously granted to the Group's key employees and directors. The options, previously all issued pursuant to the 2004 Plan and 2005 Plan and partially repriced on March 27, 2008, were repriced based on the closing price on May 18, 2012 which was $<font>0.195</font> per ordinary share. The repriced options were previously issued with $<font>0.32</font> to $<font>4.55</font> per ordinary share option exercise prices, and the partially repriced options were previously repriced to $<font>0.70</font> per ordinary share option exercise prices reflecting the market prices of the Company's stock on March 27, 2008.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Company recognized the related share-based compensation expense arising from re-pricing of options of $<font>715</font>, $<font>62</font> and $<font>62</font> for the years ended December 31, 2012, 2013 and 2014, respectively.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="text-indent: 24pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Summary of share options granted to both employees and non-employees as of December 31, 2014 is presented below:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <div style="display: block;"> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; text-indent: 11pt; font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"></td> <td style="font-family: 'times new roman'; padding: 0px; text-align: center; background-color: #ffffff;"></td> <td style="font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; text-align: center; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; text-align: center; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; text-align: center; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; text-align: center; background-color: #ffffff;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="color: #000000; font-style: normal; font-variant: normal; font-weight: bold; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;">Weighted-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; text-indent: 11pt; font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"></td> <td style="font-family: 'times new roman'; padding: 0px; text-align: center; background-color: #ffffff;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="color: #000000; font-style: normal; font-variant: normal; font-weight: bold; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;">Number&#160;of</font></font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; text-align: center; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; text-align: center; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; text-align: center; background-color: #ffffff;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="color: #000000; font-style: normal; font-variant: normal; font-weight: bold; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;">average</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; text-indent: 11pt; font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"></td> <td style="font-family: 'times new roman'; padding: 0px; text-align: center; background-color: #ffffff; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="color: #000000; font-style: normal; font-variant: normal; font-weight: bold; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;">Options</font></font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; text-align: center; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; text-align: center; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; text-align: center; background-color: #ffffff; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="color: #000000; font-style: normal; font-variant: normal; font-weight: bold; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;">exercise&#160;price</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px; width: 74%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Outstanding at December 31, 2013</font></td> <td style="font-family: 'times new roman'; padding: 0px; width: 1%;"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 1%;"></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">29,920,388</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">0.40</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Options granted</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">3,475,132</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1.33</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Options exercised</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(10,372,019</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">0.28</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Options expired or canceled</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(950,230</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">0.52</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Options forfeited</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(50,002</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1.85</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Outstanding at December 31, 2014</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">22,023,269</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">0.59</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Vested and expected to vest at December 31, 2014</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">21,428,424</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">0.59</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> </table> </div> </div> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Total intrinsic value of options exercised for the years ended December 31, 2012, 2013 and 2014 was $<font>125</font>, $<font>166</font> and $<font>9,206</font>, respectively.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The aggregate intrinsic value and weighted-average remaining contractual life for share options vested and expected to vest at December 31, 2014 were $<font>22,449</font> and <font>5.32</font> years, respectively.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The weighted-average grant date fair value of options granted for each of the years ended December 31, 2012, 2013 and 2014 were $<font>0.33</font>, $<font>0.44</font> and $<font>1.33</font>, respectively.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The total fair value of shares vested during the years ended December 31, 2012, 2013 and 2014 was $<font>714</font>, $<font>1,318</font> and $<font>1,696</font>, respectively.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">As of December 31, 2014, total unrecognized share-based compensation expense related to share options was $<font>3,113</font>. The unrecognized share-based compensation expense is expected to be recognized over a weighted-average vesting period of <font>2.76</font> years. To the extent the actual forfeiture rate is different from the original estimate, actual share based compensation related to these awards may be different from the expectation.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Summary of restricted shares granted to both employees and non-employees as of December 31, 2014 is presented below:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <div style="display: block;"> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; text-indent: 11pt; font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px; text-align: center; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; text-align: center; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; text-align: center; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; text-align: center; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; text-align: center; background-color: #ffffff;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: bold; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">Weighted</font></font><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; text-indent: 11pt; font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px; text-align: center; background-color: #ffffff;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: bold; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">Number&#160;of</font></font><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; text-align: center; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; text-align: center; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; text-align: center; background-color: #ffffff;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: bold; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">average</font></font><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; text-indent: 11pt; font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px; text-align: center; background-color: #ffffff;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: bold; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">restricted</font></font><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; text-align: center; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; text-align: center; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; text-align: center; background-color: #ffffff;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: bold; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">grant&#160;date</font></font><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; text-indent: 11pt; font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px; text-align: center; background-color: #ffffff; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: bold; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">shares</font></font><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; text-align: center; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; text-align: center; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; text-align: center; background-color: #ffffff; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: bold; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">fair&#160;value</font></font><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px; width: 74%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Non-vested at December 31, 2013</font></td> <td style="font-family: 'times new roman'; padding: 0px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">26,000</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1.00</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Vested</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(26,000</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1.00</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Non-vested at December 31, 2014</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong><font>-</font></strong></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> </table> </div> </div> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">As of December 31, 2014, total unrecognized share-based compensation expense related to restricted shares was nil. To the extent the actual forfeiture rate is different from the original estimate. Actual share-based compensation related to these awards may be different from the expectation.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The total fair value of shares vested during the years ended December 31, 2012, 2013 and 2014 was $<font>14</font>, $<font>38</font> and $<font>26</font>, respectively.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">There were no capitalized share-based compensation expenses for the years ended December 31, 2012, 2013 and 2014.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The following table summarizes information with respect to options outstanding as of December 31, 2014:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>&#160;</b></font></p> <div> <div style="display: block;"> <div style="display: block;"> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"> <tr style="vertical-align: bottom;"> <td style="text-align: center; font-family: 'times new roman';" colspan="2" nowrap="nowrap"></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';" nowrap="nowrap"></td> <td nowrap="nowrap" style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="14" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Options&#160;outstanding</strong></font></td> <td nowrap="nowrap" style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td nowrap="nowrap" style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="14" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Options&#160;exercisable</strong></font></td> <td nowrap="nowrap" style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="text-align: center; font-family: 'times new roman';" colspan="2" nowrap="nowrap"></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td style="text-align: center; font-family: 'times new roman';" colspan="2" nowrap="nowrap"></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Weighted-</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: center; font-family: 'times new roman';" colspan="2" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: center; font-family: 'times new roman';" colspan="2" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: center; font-family: 'times new roman';" colspan="2" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Weighted-</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: center; font-family: 'times new roman';" colspan="2" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: center; font-family: 'times new roman';" colspan="2" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom;"> <td style="text-align: center; font-family: 'times new roman';" colspan="2" nowrap="nowrap"></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td style="text-align: center; font-family: 'times new roman';" colspan="2" nowrap="nowrap"></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Average</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: center; font-family: 'times new roman';" colspan="2" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: center; font-family: 'times new roman';" colspan="2" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: center; font-family: 'times new roman';" colspan="2" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>average</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: center; font-family: 'times new roman';" colspan="2" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: center; font-family: 'times new roman';" colspan="2" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom;"> <td style="text-align: center; font-family: 'times new roman';" colspan="2" nowrap="nowrap"></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td style="text-align: center; font-family: 'times new roman';" colspan="2" nowrap="nowrap"></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Remaining</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Weighted-</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Intrinsic</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: center; font-family: 'times new roman';" colspan="2" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>remaining</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Weighted-</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Intrinsic</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Range&#160;of</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Number&#160;of</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Contractual</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>average</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>value&#160;as&#160;of</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Number&#160;of</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>contractual</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Average</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>value&#160;as&#160;of</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>exercise</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>options</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>life</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>exercise</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>December</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>options</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>life</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Exercise</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>December</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>price</strong></font></td> <td nowrap="nowrap" style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>outstanding</strong></font></td> <td nowrap="nowrap" style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>(years)</strong></font></td> <td nowrap="nowrap" style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>price</strong></font></td> <td nowrap="nowrap" style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>31,2014</strong></font></td> <td nowrap="nowrap" style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>exercisable</strong></font></td> <td nowrap="nowrap" style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>(years)</strong></font></td> <td nowrap="nowrap" style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Price</strong></font></td> <td nowrap="nowrap" style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>31,2014</strong></font></td> <td nowrap="nowrap" style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="text-align: left; font-family: 'times new roman'; vertical-align: top;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; text-align: right; width: 18%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">*<font>0.00</font>-<font>0.38</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 7%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">16,395,343</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 7%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">5.14</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 7%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">0.17</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; white-space: nowrap; padding-left: 5px; width: 7%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 7%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">12,457,211</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 7%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">4.53</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 7%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">0.16</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; white-space: nowrap; padding-left: 5px; width: 7%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>0.40</font>-<font>0.63</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">156,000</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">7.47</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">0.48</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">53,600</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">4.65</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">0.47</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>0.68</font>-<font>0.97</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,395,556</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">7.37</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">0.85</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">489,556</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">4.39</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">0.81</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>1.00</font>-<font>1.39</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">351,570</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">3.17</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1.22</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">341,970</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">3.11</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1.23</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>1.47</font>-<font>1.60</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">63,100</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">2.30</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1.57</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">63,100</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">2.30</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1.57</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>1.73</font>-<font>2.10</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">2,207,200</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">8.92</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1.93</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">207,200</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">0.47</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1.96</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>2.27</font>-<font>2.59</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">623,000</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1.48</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">2.50</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">623,000</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1.48</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">2.50</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>2.75</font>-<font>2.82</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">506,500</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1.20</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">2.81</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">506,500</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1.20</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">2.81</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>3.00</font>-<font>3.37</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">185,000</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1.38</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">3.14</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">185,000</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1.38</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">3.14</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; text-align: right; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>4.22</font>-<font>4.55</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">140,000</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1.29</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">4.46</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">140,000</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1.29</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">4.46</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; text-align: right; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">22,023,269</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">5.39</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">0.59</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">22,969</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">15,067,137</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">4.12</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">0.50</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">17,100</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> </table> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div align="left"> <div style="font-size: 1pt; border-top: Black 1pt solid; width: 25%;">&#160;</div> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">* The exercise price was $<font>0.0001</font>.</font></p> </div> </div> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The estimated grant date fair values of each option outstanding for employees and non-employees range from $<font>0</font> to $<font>3.35</font> and $<font>0</font> to $<font>1.68</font>, respectively. The Company estimates the grant date fair value of stock options using a Black-Scholes option-pricing model.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><i>Employee grants:</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The assumptions below are for options with a 5 year vesting period after grant date:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <div style="display: block;"> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;" width="100%"> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: center; padding-bottom: 1pt; font-family: 'times new roman';"></td> <td style="padding-bottom: 1pt; text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2012</strong></font></td> <td style="padding-bottom: 1pt; text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="padding-bottom: 1pt; text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2013</strong></font></td> <td style="padding-bottom: 1pt; text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="padding-bottom: 1pt; text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2014</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; font-family: 'times new roman'; width: 62%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Risk-free interest rates (%)<sup style="font-style: normal;">(1)</sup></font></td> <td style="font-family: 'times new roman'; width: 1%;"></td> <td style="text-align: left; font-family: 'times new roman'; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; width: 10%;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>1.04</font>-<font>1.57</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; width: 10%;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>1.55</font>-<font>1.62</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; width: 10%;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>1.37</font>-<font>1.75</font></font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; /* text-indent: 11pt; */ /* padding-left: 11pt; */ font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Expected life<sup style="font-style: normal;">(2)</sup></font></td> <td style="font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>5.7</font>-<font>5.8</font> years</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>5.4</font>-<font>6.2</font> years</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>6.38</font>-<font>6.47</font>years</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; /* text-indent: 11pt; */ /* padding-left: 11pt; */ font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Expected dividend yield (%)<sup style="font-style: normal;">(3)</sup></font></td> <td style="font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; /* text-indent: 11pt; */ /* padding-left: 11pt; */ font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Expected volatility (%)<sup style="font-style: normal;">(4)</sup></font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>50</font>-<font>51</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>52</font>-<font>53</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>67</font>-<font>68</font></font></td> </tr> </table> </div> </div> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The assumptions below are for options with a 1 year vesting period based on performance conditions after grant date:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <div style="display: block; ;display: block;"> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;" width="100%"> <tr style="vertical-align: bottom;"> <td style="text-align: justify; font-family: 'times new roman';"></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2012</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2013</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2014</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; font-family: 'times new roman'; width: 62%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Risk-free interest rates (%)<sup style="font-style: normal;">(1)</sup></font></td> <td style="font-family: 'times new roman'; width: 1%;"></td> <td style="text-align: left; font-family: 'times new roman'; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; width: 10%;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>0.18</font>-<font>0.21</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">0.13</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">0.10</font></font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; /* text-indent: 11pt; */ /* padding-left: 11pt; */ font-family: 'times new roman'; vertical-align: top;" valign="top"><font style="font-family: 'times new roman', times; font-size: 10pt;">Expected life<sup style="font-style: normal;">(2</sup>)</font></td> <td style="font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>1</font> year</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>1</font> year</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>1</font>year</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; /* text-indent: 11pt; */ /* padding-left: 11pt; */ font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Expected dividend yield (%)<sup style="font-style: normal;">(3)</sup></font></td> <td style="font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; /* text-indent: 11pt; */ /* padding-left: 11pt; */ font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Expected volatility (%)<sup style="font-style: normal;">(4)</sup></font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>52</font>-<font>59</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>52</font>-<font>53</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>67</font>-<font>68</font></font></td> </tr> </table> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div align="left"> <div style="font-size: 1pt; border-top: Black 1pt solid; width: 25%;">&#160;</div> </div> <div class="CursorPointer"> <table width="100%" cellpadding="0" border="0" cellspacing="0"> <tr> <td style="width: 1%; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><sup style="font-style: normal;">(1)</sup></font><br/></td> <td style="width: 0%;"><br/></td> <td style="width: 99%;"> <div><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;The risk-free interest rate is based on the United States Treasury Bill for a term of <font>1</font>, <font>5</font> or <font>7</font> years which is consistent with the expected life of the awards.</font></div> </td> </tr> </table> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div class="CursorPointer"> <table width="100%" cellpadding="0" border="0" cellspacing="0"> <tr> <td style="width: 1%; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><sup style="font-style: normal;">(2)&#160;</sup></font><br/></td> <td style="width: 0%;"><br/></td> <td style="width: 99%;"> <div><font style="font-family: 'times new roman', times; font-size: 10pt;">The Company calculates the expected life of share options based on its employees' historical experience.</font></div> </td> </tr> </table> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div class="CursorPointer"> <table width="100%" cellpadding="0" border="0" cellspacing="0"> <tr> <td style="width: 1%; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><sup style="font-style: normal;">(3)</sup>&#160;</font><br/></td> <td style="width: 0%;"><br/></td> <td style="width: 99%;"> <div><font style="font-family: 'times new roman', times; font-size: 10pt;">The Company currently has no history or expectation of paying dividends on its ordinary shares.</font></div> </td> </tr> </table> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div class="CursorPointer"> <table width="100%" cellpadding="0" border="0" cellspacing="0"> <tr> <td style="width: 1%; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><sup style="font-style: normal;">(4)</sup>&#160;</font><br/></td> <td style="width: 0%;"><br/></td> <td style="width: 99%;"> <div><font style="font-family: 'times new roman', times; font-size: 10pt;">The Company estimated volatility based on the historical volatilities of the Company.</font></div> </td> </tr> </table> </div> </div> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 18.7pt; text-align: justify; text-indent: -18.7pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><i>Non-employee grants:</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <div style="display: block;"> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; padding-bottom: 1pt; font-family: 'times new roman';"></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"></td> <td style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>2012</b></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>2013</b></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>2014</b></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; font-family: 'times new roman'; width: 62%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Risk-free interest rates (%)<sup style="font-style: normal;">(1)</sup></font></td> <td style="font-family: 'times new roman'; width: 1%;"></td> <td style="text-align: left; font-family: 'times new roman'; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; width: 10%;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>0.56</font>-<font>1.22</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; width: 10%;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>0.65</font>-<font>1.85</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; width: 10%;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>0.10</font>-<font>1.37</font></font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; /* text-indent: 11pt; */ /* padding-left: 11pt; */ font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Expected life<sup style="font-style: normal;">(2)</sup></font></td> <td style="font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>5</font> years</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>1</font> year</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>1</font>-<font>6.47</font>years</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; /* text-indent: 11pt; */ /* padding-left: 11pt; */ font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Expected dividend yield (%)<sup style="font-style: normal;">(3)</sup></font></td> <td style="font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; /* text-indent: 11pt; */ /* padding-left: 11pt; */ font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Expected volatility (%) <sup style="font-style: normal;">(4)</sup></font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>50</font>-<font>51</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>45</font>-<font>49</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>67</font>-<font>68</font></font></td> </tr> </table> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div align="left"> <div style="font-size: 1pt; border-top: Black 1pt solid; width: 25%;">&#160;</div> </div> <div class="CursorPointer"> <table width="100%" cellpadding="0" border="0" cellspacing="0"> <tr> <td style="width: 1%; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><sup style="font-style: normal;">(1)&#160;</sup></font><br/></td> <td style="width: 0%;"><br/></td> <td style="width: 99%;"> <div><font style="font-family: 'times new roman', times; font-size: 10pt;">The risk-free interest rate is based on the United States Treasury Bill for a term of <font>5</font> years consistent with the expected life of the awards.</font></div> </td> </tr> </table> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.3pt; text-align: justify; text-indent: -14.3pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div class="CursorPointer"> <table width="100%" cellpadding="0" border="0" cellspacing="0"> <tr> <td style="width: 1%; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><sup style="font-style: normal;">(2)</sup>&#160;</font><br/></td> <td style="width: 0%;"><br/></td> <td style="width: 99%;"> <div><font style="font-family: 'times new roman', times; font-size: 10pt;">The Company uses a vesting term of <font>5</font> years as the expected life of share options, except for performance based options which had an exercise price of $<font>0.0001</font> and a <font>1</font> year vesting term period based on historical experience.</font></div> </td> </tr> </table> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div class="CursorPointer"> <table width="100%" cellpadding="0" border="0" cellspacing="0"> <tr> <td style="width: 1%; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><sup style="font-style: normal;">(3)</sup></font><br/></td> <td style="width: 0%;"><br/></td> <td style="width: 99%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;The Company currently has no history or expectation of paying dividends on its ordinary shares.</font></td> </tr> </table> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div class="CursorPointer"> <table width="100%" cellpadding="0" border="0" cellspacing="0"> <tr> <td style="width: 1%; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><sup style="font-style: normal;">(4)</sup>&#160;</font><br/></td> <td style="width: 0%;"><br/></td> <td style="width: 99%;"> <div><font style="font-family: 'times new roman', times; font-size: 10pt;">The Company estimated volatility based on the historical volatilities of the Company.</font></div> </td> </tr> </table> </div> </div> </div> </div> </div> </div> </div> P2Y 0.20 P1Y 0.10 P4Y 31754037 2423324 210000 0.0001 0.36 524000 P5Y 44000 40000 15000 2262892 0.0001 4.55 597260 531132 575108 22152 14 1 14 19728 11404 1 2 400000 1 3 230000 84000 2000 230000 93000 200000 P3Y 30000 P1Y 1.00 20484420 0.195 0.32 4.55 0.70 715000 62000 62000 29920388 0.40 3475132 1.33 10372019 0.28 950230 0.52 50002 1.85 22023269 0.59 21428424 0.59 125000 166000 9206000 22449000 P5Y3M25D 0.33 0.44 1.33 714000 1318000 1696000 3113000 P2Y9M4D 26000 1.00 26000 1.00 14000 38000 26000 0.38 16395343 P5Y1M20D 0.17 12457211 P4Y6M11D 0.16 0.40 0.63 156000 P7Y5M19D 0.48 53600 P4Y7M24D 0.47 0.68 0.97 1395556 P7Y4M13D 0.85 489556 P4Y4M20D 0.81 1.00 1.39 351570 P3Y2M1D 1.22 341970 P3Y1M10D 1.23 1.47 1.60 2074000 63100 P2Y3M18D 1.57 63100 P2Y3M18D 1.57 1.73 2.10 2207200 P8Y11M1D 1808000 1.93 207200 P5M19D 1.96 2.27 2.59 623000 P1Y5M23D 2.50 623000 1726000 P1Y5M23D 2.50 2.75 2.82 506500 P1Y2M12D 2.81 506500 P1Y2M12D 2.81 3.00 3.37 185000 P1Y4M17D 3.14 185000 P1Y4M17D 3.14 4.22 4.55 140000 P1Y3M14D 4.46 140000 P1Y3M14D 4.46 22023269 P5Y4M20D 0.59 22969000 15067137 P4Y1M13D 0.50 17100000 0.0001 3.35 0 1.68 0.0104 0.0157 0.0155 0.0162 0.0137 2 0.0175 P5Y8M12D P5Y9M18D P5Y4M24D P6Y2M12D P6Y4M17D P6Y5M19D 0.50 0.51 0.52 0.53 0.67 0.68 0.0018 0.0021 0.0013 0.0010 P1Y P1Y P1Y 0.52 0.59 0.52 0.53 0.67 0.68 P1Y P5Y P7Y 0.0056 0.0122 0.0065 0.0185 P10Y 0.0010 0.0137 P5Y P1Y P1Y P6Y5M19D 0.50 0.51 0.45 0.49 0.67 0.68 P5Y P5Y P1Y 12541080 <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div style="display: block;"> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; text-indent: 11pt; font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"></td> <td style="font-family: 'times new roman'; padding: 0px; text-align: center; background-color: #ffffff;"></td> <td style="font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; text-align: center; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; text-align: center; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; text-align: center; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; text-align: center; background-color: #ffffff;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="color: #000000; font-style: normal; font-variant: normal; font-weight: bold; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;">Weighted-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; text-indent: 11pt; font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"></td> <td style="font-family: 'times new roman'; padding: 0px; text-align: center; background-color: #ffffff;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="color: #000000; font-style: normal; font-variant: normal; font-weight: bold; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;">Number&#160;of</font></font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; text-align: center; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; text-align: center; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; text-align: center; background-color: #ffffff;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="color: #000000; font-style: normal; font-variant: normal; font-weight: bold; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;">average</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; text-indent: 11pt; font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"></td> <td style="font-family: 'times new roman'; padding: 0px; text-align: center; background-color: #ffffff; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="color: #000000; font-style: normal; font-variant: normal; font-weight: bold; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;">Options</font></font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; text-align: center; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; text-align: center; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; text-align: center; background-color: #ffffff; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="color: #000000; font-style: normal; font-variant: normal; font-weight: bold; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;">exercise&#160;price</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px; width: 74%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Outstanding at December 31, 2013</font></td> <td style="font-family: 'times new roman'; padding: 0px; width: 1%;"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 1%;"></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">29,920,388</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">0.40</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Options granted</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">3,475,132</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1.33</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Options exercised</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(10,372,019</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">0.28</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Options expired or canceled</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(950,230</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">0.52</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Options forfeited</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(50,002</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1.85</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Outstanding at December 31, 2014</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">22,023,269</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">0.59</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Vested and expected to vest at December 31, 2014</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">21,428,424</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">0.59</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> </table> </div> </div> </div> <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div style="display: block;"> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; text-indent: 11pt; font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px; text-align: center; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; text-align: center; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; text-align: center; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; text-align: center; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; text-align: center; background-color: #ffffff;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: bold; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">Weighted</font></font><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; text-indent: 11pt; font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px; text-align: center; background-color: #ffffff;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: bold; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">Number&#160;of</font></font><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; text-align: center; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; text-align: center; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; text-align: center; background-color: #ffffff;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: bold; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">average</font></font><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; text-indent: 11pt; font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px; text-align: center; background-color: #ffffff;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: bold; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">restricted</font></font><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; text-align: center; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; text-align: center; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; text-align: center; background-color: #ffffff;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: bold; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">grant&#160;date</font></font><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; text-indent: 11pt; font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px; text-align: center; background-color: #ffffff; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: bold; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">shares</font></font><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; text-align: center; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; text-align: center; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; text-align: center; background-color: #ffffff; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: bold; letter-spacing: normal; line-height: normal; orphans: auto; text-align: center; text-indent: 0px; text-transform: none; white-space: nowrap; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">fair&#160;value</font></font><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px; width: 74%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Non-vested at December 31, 2013</font></td> <td style="font-family: 'times new roman'; padding: 0px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">26,000</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1.00</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Vested</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(26,000</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1.00</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Non-vested at December 31, 2014</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong><font>-</font></strong></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> </table> </div> </div> </div> 10000000 <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div style="display: block;"> <div style="display: block;"> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"> <tr style="vertical-align: bottom;"> <td style="text-align: center; font-family: 'times new roman';" colspan="2" nowrap="nowrap"></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';" nowrap="nowrap"></td> <td nowrap="nowrap" style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="14" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Options&#160;outstanding</strong></font></td> <td nowrap="nowrap" style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td nowrap="nowrap" style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="14" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Options&#160;exercisable</strong></font></td> <td nowrap="nowrap" style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="text-align: center; font-family: 'times new roman';" colspan="2" nowrap="nowrap"></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td style="text-align: center; font-family: 'times new roman';" colspan="2" nowrap="nowrap"></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Weighted-</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: center; font-family: 'times new roman';" colspan="2" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: center; font-family: 'times new roman';" colspan="2" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: center; font-family: 'times new roman';" colspan="2" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Weighted-</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: center; font-family: 'times new roman';" colspan="2" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: center; font-family: 'times new roman';" colspan="2" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom;"> <td style="text-align: center; font-family: 'times new roman';" colspan="2" nowrap="nowrap"></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td style="text-align: center; font-family: 'times new roman';" colspan="2" nowrap="nowrap"></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Average</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: center; font-family: 'times new roman';" colspan="2" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: center; font-family: 'times new roman';" colspan="2" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: center; font-family: 'times new roman';" colspan="2" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>average</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: center; font-family: 'times new roman';" colspan="2" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: center; font-family: 'times new roman';" colspan="2" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom;"> <td style="text-align: center; font-family: 'times new roman';" colspan="2" nowrap="nowrap"></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td style="text-align: center; font-family: 'times new roman';" colspan="2" nowrap="nowrap"></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Remaining</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Weighted-</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Intrinsic</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: center; font-family: 'times new roman';" colspan="2" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>remaining</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Weighted-</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Intrinsic</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Range&#160;of</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Number&#160;of</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Contractual</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>average</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>value&#160;as&#160;of</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Number&#160;of</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>contractual</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Average</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>value&#160;as&#160;of</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>exercise</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>options</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>life</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>exercise</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>December</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>options</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>life</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Exercise</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>December</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>price</strong></font></td> <td nowrap="nowrap" style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>outstanding</strong></font></td> <td nowrap="nowrap" style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>(years)</strong></font></td> <td nowrap="nowrap" style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>price</strong></font></td> <td nowrap="nowrap" style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>31,2014</strong></font></td> <td nowrap="nowrap" style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>exercisable</strong></font></td> <td nowrap="nowrap" style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>(years)</strong></font></td> <td nowrap="nowrap" style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Price</strong></font></td> <td nowrap="nowrap" style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>31,2014</strong></font></td> <td nowrap="nowrap" style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="text-align: left; font-family: 'times new roman'; vertical-align: top;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; text-align: right; width: 18%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">*<font>0.00</font>-<font>0.38</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 7%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">16,395,343</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 7%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">5.14</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 7%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">0.17</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; white-space: nowrap; padding-left: 5px; width: 7%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 7%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">12,457,211</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 7%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">4.53</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 7%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">0.16</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; white-space: nowrap; padding-left: 5px; width: 7%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>0.40</font>-<font>0.63</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">156,000</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">7.47</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">0.48</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">53,600</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">4.65</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">0.47</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>0.68</font>-<font>0.97</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,395,556</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">7.37</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">0.85</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">489,556</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">4.39</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">0.81</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>1.00</font>-<font>1.39</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">351,570</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">3.17</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1.22</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">341,970</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">3.11</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1.23</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>1.47</font>-<font>1.60</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">63,100</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">2.30</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1.57</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">63,100</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">2.30</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1.57</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>1.73</font>-<font>2.10</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">2,207,200</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">8.92</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1.93</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">207,200</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">0.47</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1.96</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>2.27</font>-<font>2.59</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">623,000</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1.48</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">2.50</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">623,000</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1.48</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">2.50</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>2.75</font>-<font>2.82</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">506,500</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1.20</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">2.81</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">506,500</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1.20</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">2.81</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>3.00</font>-<font>3.37</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">185,000</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1.38</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">3.14</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">185,000</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1.38</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">3.14</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; text-align: right; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>4.22</font>-<font>4.55</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">140,000</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1.29</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">4.46</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">140,000</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1.29</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">4.46</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; text-align: right; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">22,023,269</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">5.39</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">0.59</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">22,969</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">15,067,137</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">4.12</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">0.50</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">17,100</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> </table> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div align="left"> <div style="font-size: 1pt; border-top: Black 1pt solid; width: 25%;">&#160;</div> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">* The exercise price was $<font>0.0001</font>.</font></p> </div> </div> </div> P5Y 0.20 P1Y <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div style="display: block;"> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;" width="100%"> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: center; padding-bottom: 1pt; font-family: 'times new roman';"></td> <td style="padding-bottom: 1pt; text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2012</strong></font></td> <td style="padding-bottom: 1pt; text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="padding-bottom: 1pt; text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2013</strong></font></td> <td style="padding-bottom: 1pt; text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="padding-bottom: 1pt; text-align: center; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2014</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; font-family: 'times new roman'; width: 62%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Risk-free interest rates (%)<sup style="font-style: normal;">(1)</sup></font></td> <td style="font-family: 'times new roman'; width: 1%;"></td> <td style="text-align: left; font-family: 'times new roman'; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; width: 10%;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>1.04</font>-<font>1.57</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; width: 10%;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>1.55</font>-<font>1.62</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; width: 10%;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>1.37</font>-<font>1.75</font></font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; /* text-indent: 11pt; */ /* padding-left: 11pt; */ font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Expected life<sup style="font-style: normal;">(2)</sup></font></td> <td style="font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>5.7</font>-<font>5.8</font> years</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>5.4</font>-<font>6.2</font> years</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>6.38</font>-<font>6.47</font>years</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; /* text-indent: 11pt; */ /* padding-left: 11pt; */ font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Expected dividend yield (%)<sup style="font-style: normal;">(3)</sup></font></td> <td style="font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; /* text-indent: 11pt; */ /* padding-left: 11pt; */ font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Expected volatility (%)<sup style="font-style: normal;">(4)</sup></font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>50</font>-<font>51</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>52</font>-<font>53</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>67</font>-<font>68</font></font></td> </tr> </table> </div> </div> </div> 13065505 18000000 P1Y P3Y P5Y <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div style="display: block; ;display: block;"> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;" width="100%"> <tr style="vertical-align: bottom;"> <td style="text-align: justify; font-family: 'times new roman';"></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2012</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2013</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2014</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; font-family: 'times new roman'; width: 62%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Risk-free interest rates (%)<sup style="font-style: normal;">(1)</sup></font></td> <td style="font-family: 'times new roman'; width: 1%;"></td> <td style="text-align: left; font-family: 'times new roman'; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; width: 10%;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>0.18</font>-<font>0.21</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">0.13</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">0.10</font></font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; /* text-indent: 11pt; */ /* padding-left: 11pt; */ font-family: 'times new roman'; vertical-align: top;" valign="top"><font style="font-family: 'times new roman', times; font-size: 10pt;">Expected life<sup style="font-style: normal;">(2</sup>)</font></td> <td style="font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>1</font> year</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>1</font> year</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>1</font>year</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; /* text-indent: 11pt; */ /* padding-left: 11pt; */ font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Expected dividend yield (%)<sup style="font-style: normal;">(3)</sup></font></td> <td style="font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; /* text-indent: 11pt; */ /* padding-left: 11pt; */ font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Expected volatility (%)<sup style="font-style: normal;">(4)</sup></font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>52</font>-<font>59</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>52</font>-<font>53</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>67</font>-<font>68</font></font></td> </tr> </table> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div align="left"> <div style="font-size: 1pt; border-top: Black 1pt solid; width: 25%;">&#160;</div> </div> <div class="CursorPointer"> <table width="100%" cellpadding="0" border="0" cellspacing="0"> <tr> <td style="width: 1%; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><sup style="font-style: normal;">(1)</sup></font><br/></td> <td style="width: 0%;"><br/></td> <td style="width: 99%;"> <div><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;The risk-free interest rate is based on the United States Treasury Bill for a term of <font>1</font>, <font>5</font> or <font>7</font> years which is consistent with the expected life of the awards.</font></div> </td> </tr> </table> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div class="CursorPointer"> <table width="100%" cellpadding="0" border="0" cellspacing="0"> <tr> <td style="width: 1%; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><sup style="font-style: normal;">(2)&#160;</sup></font><br/></td> <td style="width: 0%;"><br/></td> <td style="width: 99%;"> <div><font style="font-family: 'times new roman', times; font-size: 10pt;">The Company calculates the expected life of share options based on its employees' historical experience.</font></div> </td> </tr> </table> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div class="CursorPointer"> <table width="100%" cellpadding="0" border="0" cellspacing="0"> <tr> <td style="width: 1%; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><sup style="font-style: normal;">(3)</sup>&#160;</font><br/></td> <td style="width: 0%;"><br/></td> <td style="width: 99%;"> <div><font style="font-family: 'times new roman', times; font-size: 10pt;">The Company currently has no history or expectation of paying dividends on its ordinary shares.</font></div> </td> </tr> </table> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div class="CursorPointer"> <table width="100%" cellpadding="0" border="0" cellspacing="0"> <tr> <td style="width: 1%; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><sup style="font-style: normal;">(4)</sup>&#160;</font><br/></td> <td style="width: 0%;"><br/></td> <td style="width: 99%;"> <div><font style="font-family: 'times new roman', times; font-size: 10pt;">The Company estimated volatility based on the historical volatilities of the Company.</font></div> </td> </tr> </table> </div> </div> </div> <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div style="display: block;"> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; padding-bottom: 1pt; font-family: 'times new roman';"></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"></td> <td style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>2012</b></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>2013</b></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>2014</b></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; font-family: 'times new roman'; width: 62%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Risk-free interest rates (%)<sup style="font-style: normal;">(1)</sup></font></td> <td style="font-family: 'times new roman'; width: 1%;"></td> <td style="text-align: left; font-family: 'times new roman'; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; width: 10%;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>0.56</font>-<font>1.22</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; width: 10%;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>0.65</font>-<font>1.85</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; width: 10%;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>0.10</font>-<font>1.37</font></font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; /* text-indent: 11pt; */ /* padding-left: 11pt; */ font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Expected life<sup style="font-style: normal;">(2)</sup></font></td> <td style="font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>5</font> years</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>1</font> year</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman';" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>1</font>-<font>6.47</font>years</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; /* text-indent: 11pt; */ /* padding-left: 11pt; */ font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Expected dividend yield (%)<sup style="font-style: normal;">(3)</sup></font></td> <td style="font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; /* text-indent: 11pt; */ /* padding-left: 11pt; */ font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Expected volatility (%) <sup style="font-style: normal;">(4)</sup></font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>50</font>-<font>51</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>45</font>-<font>49</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>67</font>-<font>68</font></font></td> </tr> </table> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div align="left"> <div style="font-size: 1pt; border-top: Black 1pt solid; width: 25%;">&#160;</div> </div> <div class="CursorPointer"> <table width="100%" cellpadding="0" border="0" cellspacing="0"> <tr> <td style="width: 1%; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><sup style="font-style: normal;">(1)&#160;</sup></font><br/></td> <td style="width: 0%;"><br/></td> <td style="width: 99%;"> <div><font style="font-family: 'times new roman', times; font-size: 10pt;">The risk-free interest rate is based on the United States Treasury Bill for a term of <font>5</font> years consistent with the expected life of the awards.</font></div> </td> </tr> </table> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.3pt; text-align: justify; text-indent: -14.3pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div class="CursorPointer"> <table width="100%" cellpadding="0" border="0" cellspacing="0"> <tr> <td style="width: 1%; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><sup style="font-style: normal;">(2)</sup>&#160;</font><br/></td> <td style="width: 0%;"><br/></td> <td style="width: 99%;"> <div><font style="font-family: 'times new roman', times; font-size: 10pt;">The Company uses a vesting term of <font>5</font> years as the expected life of share options, except for performance based options which had an exercise price of $<font>0.0001</font> and a <font>1</font> year vesting term period based on historical experience.</font></div> </td> </tr> </table> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div class="CursorPointer"> <table width="100%" cellpadding="0" border="0" cellspacing="0"> <tr> <td style="width: 1%; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><sup style="font-style: normal;">(3)</sup></font><br/></td> <td style="width: 0%;"><br/></td> <td style="width: 99%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;The Company currently has no history or expectation of paying dividends on its ordinary shares.</font></td> </tr> </table> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div class="CursorPointer"> <table width="100%" cellpadding="0" border="0" cellspacing="0"> <tr> <td style="width: 1%; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><sup style="font-style: normal;">(4)</sup>&#160;</font><br/></td> <td style="width: 0%;"><br/></td> <td style="width: 99%;"> <div><font style="font-family: 'times new roman', times; font-size: 10pt;">The Company estimated volatility based on the historical volatilities of the Company.</font></div> </td> </tr> </table> </div> </div> </div> 0.10 P4Y 10006600 1.60 3.00 664800 1.60 2.50 3065505 0.167 3 0.50 P1Y P1Y 0.0001 0 100000 15556000 25244000 21255000 6675000 13617000 12097000 5406000 1700000 1350000 0.04 -0.01 0.11 0.30 <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div class="CursorPointer"> <table style="font: 10pt times new roman, times, serif; margin-top: 0; margin-bottom: 0;" cellpadding="0" cellspacing="0"> <tr style="vertical-align: top; text-align: justify;"> <td style="width: 0.33in; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>15.</b></font></td> <td style="text-align: justify; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>RESEARCH AND DEVELOPMENT EXPENSES</b></font></td> </tr> </table> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <div style="display: block;"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="10" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Years ended December 31</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2012</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2013</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2014</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; font-family: 'times new roman'; padding: 0px; width: 61%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Research and development</font></td> <td style="font-family: 'times new roman'; padding: 0px; width: 1%;"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 1%;"></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>15,556</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>25,244</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>21,255</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Less:&#160;research&#160;and&#160;development&#160;grants</font></td> <td style="font-family: 'times new roman'; padding: 0px;"></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>(6,675</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>(13,617</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>(12,097</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Research and development, net</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>8,881</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>11,627</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>9,158</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> </table> </div> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The major external research and development expenses for the year ended December 31, 2013 included an aggregate amount of $<font>5,406</font> related to a research and development project contracted with VeriSilicon (Hong Kong) Limited, and a research and development project carried out by Supreme Wise Limited, as well as an amount of $<font>1,700</font> incurred by Wellway Electronics (Hong Kong) Limited.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In 2014, the major external research and development expenses mainly included an aggregate amount of $<font>1,350</font> related to a research and development project contracted with ARM Limited which provided a non-transferable, non exclusive, world-wide license to the Company.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18.7pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">There is no assurance that the Company will continue to receive research and development grants.</font></p> </div> <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div style="display: block;"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="10" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Years ended December 31</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2012</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2013</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2014</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; font-family: 'times new roman'; padding: 0px; width: 61%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Research and development</font></td> <td style="font-family: 'times new roman'; padding: 0px; width: 1%;"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 1%;"></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>15,556</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>25,244</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>21,255</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Less:&#160;research&#160;and&#160;development&#160;grants</font></td> <td style="font-family: 'times new roman'; padding: 0px;"></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>(6,675</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>(13,617</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>(12,097</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Research and development, net</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>8,881</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>11,627</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>9,158</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> </table> </div> </div> <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div style="display: block;"> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"> <tr style="vertical-align: bottom;"> <td style="text-align: justify; font-family: 'times new roman'; padding: 0px;"></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="10" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Years ended December 31</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="text-align: justify; font-family: 'times new roman'; padding: 0px;"></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2012</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2013</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2014</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px; width: 61%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Current income tax expense</font></td> <td style="font-family: 'times new roman'; padding: 0px; width: 1%;"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 1%;"></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(339</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(106</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(2,540</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Deferred income tax benefit/(expense)</font></td> <td style="font-family: 'times new roman'; padding: 0px;"></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">129</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(586</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,717</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><br/></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Income tax expense</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(210</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; white-space: nowrap; vertical-align: middle;" valign="middle"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(692</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; white-space: nowrap; vertical-align: middle;" valign="middle"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(823</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; white-space: nowrap; vertical-align: middle;" valign="middle"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> </table> </div> </div> </div> 0.15 0.15 0.25 0.10 0.25 0.25 0.25 -0.16 -0.08 0.09 0.36 -0.07 0.14 0.18 -0.29 -0.05 0.46 -0.36 -0.02 0.03 -0.05 -0.07 0.36 1364000 1053000 695000 3229000 3660000 1599000 11600000 11600000 14000 14000 4298000 103000 3218000 179000 283000 452000 1575000 -9189000 1688000 1688000 1688000 0.17 0.17 0.06 0.06 0.05 -2914000 -2503000 829000 <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div style="display: block;"> <div style="display: block;"> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="10" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Years ended December 31</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2012</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2013</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2014</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; /* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px; width: 61%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(Loss)/income arising from China operations</font></td> <td style="font-family: 'times new roman'; padding: 0px; width: 1%;"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 1%;"></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(936</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(6,926</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">6,293</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; /* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(Loss)/income arising from non-China operations</font></td> <td style="font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(2,914</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(2,503</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">829</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; /* padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-indent: 0.1in; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-&#160; U.S.</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">30</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">15</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(1,487</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; text-indent: 0.1in; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-&#160; Hong Kong</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(513</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">511</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">4,616</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-indent: 0.1in; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-&#160; Cayman</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(2,431</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(3,029</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(2,300</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-indent: 0.1in; font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: left;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; /* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(Loss)/income before income taxes and share of loss of an unconsolidated affiliate</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(3,850</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; white-space: nowrap; vertical-align: bottom;" valign="middle"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(9,429</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; white-space: nowrap; vertical-align: bottom;" valign="middle"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">7,122</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> </table> </div> </div> </div> </div> 3006000 1065000 515000 768000 519000 5873000 4156000 1717000 5000 5000 1014000 703000 339000 106000 2540000 <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div style="display: block;"> <div style="display: block;"> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"> <tr style="vertical-align: bottom;"> <td style="text-align: justify; font-family: 'times new roman'; padding: 0px;"></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="10" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Years ended December 31</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="text-align: justify; font-family: 'times new roman'; padding: 0px;"></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2012</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2013</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2014</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px; width: 61%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Statutory tax rate</font></td> <td style="font-family: 'times new roman'; padding: 0px; width: 1%;"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 1%;"></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">25</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">25</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">25</font></font></td> <td style="font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%; text-align: left;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Effect of foreign tax rates differential</font></td> <td style="font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(16</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)%</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(8</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)%</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">9</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Deferred tax rate differential</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">4</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(1</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)%</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">11</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Non-deductible expenses</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(30</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)%</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(36</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">)%</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">7</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Change in valuation allowance</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">14</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">18</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(29</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)%</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Effect of elimination of unrealized intra-entity profits</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(5</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)%</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">46</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Effect of preferential tax treatment inside of PRC</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(36</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)%</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Others</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(2</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)%</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">3</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Effective income tax rate</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(5</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; vertical-align: middle;" valign="middle"><font style="font-family: 'times new roman', times; font-size: 10pt;">)%</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(7</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; vertical-align: middle;" valign="middle"><font style="font-family: 'times new roman', times; font-size: 10pt;">)%</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">36</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> </tr> </table> </div> </div> </div> </div> -936000 -6926000 6293000 <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div style="display: block;"> <div style="display: block;"> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="6" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>As of December 31</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; text-indent: 0.1in; font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'Times New Roman'; background-color: #ffffff;"></td> <td style="font-family: 'times new roman'; padding: 0px; text-align: center; background-color: #ffffff; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" colspan="2"><strong><font style="font-family: 'times new roman', times; font-size: 10pt;">2013</font></strong></td> <td style="font-family: 'times new roman'; padding: 0px; text-align: center; background-color: #ffffff;"><strong><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></strong></td> <td style="font-family: 'Times New Roman'; text-align: center; background-color: #ffffff;"><strong><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></strong></td> <td style="font-family: 'times new roman'; padding: 0px; text-align: center; background-color: #ffffff; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" colspan="2"><strong><font style="font-family: 'times new roman', times; font-size: 10pt;">2014</font></strong></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; /* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Deferred tax assets</strong></font></td> <td style="font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px;"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; /* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px; width: 74%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Provision for doubtful accounts and slow-moving inventories</font></td> <td style="font-family: 'times new roman'; padding: 0px; width: 1%;"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 1%;"></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,364</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; /* padding: 0px 5px; */ white-space: nowrap; width: 10%;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>3,006</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; /* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Accrued expenses, payroll and others</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,053</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>1,065</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; /* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Difference in tax basis from ViSS acquisition</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">695</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">515</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; /* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Difference in research and development expenses capitalization</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">3,229</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; /* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Operating loss carry-forwards</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">3,660</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>768</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="/* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Others</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,599</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>519</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; /* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Total deferred tax assets</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">11,600</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>5,873</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; /* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Valuation allowance</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(11,600</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(4,156</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; /* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Deferred tax assets, net of valuation allowance</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>1,717</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-indent: 0.1in; font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: left;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; /* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Deferred tax liabilities</strong></font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; /* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Differences in tax basis for property equipment and software, non-current</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">14</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">5</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; /* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Total deferred tax liabilities</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">14</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>5</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-indent: 0.1in; font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: left;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; /* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Classification on the consolidated balance sheets</strong></font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; /* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Deferred tax assets &#151; current</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,014</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; /* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Deferred tax assets &#151; non-current</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">703</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; /* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Deferred tax liabilities &#151; non-current</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">14</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">5</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> </table> </div> </div> </div> </div> 30000 15000 -1487000 -513000 511000 4616000 -2431000 <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div class="CursorPointer"> <table style="font: 10pt times new roman, times, serif; margin-top: 0; margin-bottom: 0;" cellpadding="0" cellspacing="0"> <tr style="vertical-align: top; text-align: justify;"> <td style="width: 0.33in; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>16.</b></font></td> <td style="text-align: justify; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>TAXATION</b></font></td> </tr> </table> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div class="CursorPointer"> <table style="font: 10pt times new roman, times, serif; margin-top: 0; margin-bottom: 0;" cellpadding="0" cellspacing="0"> <tr style="vertical-align: top; text-align: justify;"> <td style="width: 0in;"></td> <td style="width: 0.33in; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>(a)</i></b></font></td> <td style="text-align: justify; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Income taxes</i></b></font></td> </tr> </table> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18.7pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Income tax benefit/(expense) of the Group are as follows:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <div style="display: block;"> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"> <tr style="vertical-align: bottom;"> <td style="text-align: justify; font-family: 'times new roman'; padding: 0px;"></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="10" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Years ended December 31</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="text-align: justify; font-family: 'times new roman'; padding: 0px;"></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2012</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2013</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2014</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px; width: 61%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Current income tax expense</font></td> <td style="font-family: 'times new roman'; padding: 0px; width: 1%;"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 1%;"></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(339</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(106</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(2,540</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Deferred income tax benefit/(expense)</font></td> <td style="font-family: 'times new roman'; padding: 0px;"></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">129</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(586</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,717</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><br/></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Income tax expense</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(210</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; white-space: nowrap; vertical-align: middle;" valign="middle"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(692</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; white-space: nowrap; vertical-align: middle;" valign="middle"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(823</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; white-space: nowrap; vertical-align: middle;" valign="middle"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> </table> </div> </div> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The components of (loss)/income before income taxes are as follows:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <div style="display: block;"> <div style="display: block;"> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="10" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Years ended December 31</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2012</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2013</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2014</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; /* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px; width: 61%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(Loss)/income arising from China operations</font></td> <td style="font-family: 'times new roman'; padding: 0px; width: 1%;"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 1%;"></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(936</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(6,926</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">6,293</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; /* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(Loss)/income arising from non-China operations</font></td> <td style="font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(2,914</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(2,503</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">829</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; /* padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-indent: 0.1in; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-&#160; U.S.</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">30</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">15</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(1,487</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; text-indent: 0.1in; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-&#160; Hong Kong</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(513</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">511</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">4,616</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-indent: 0.1in; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">-&#160; Cayman</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(2,431</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(3,029</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(2,300</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-indent: 0.1in; font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: left;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; /* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">(Loss)/income before income taxes and share of loss of an unconsolidated affiliate</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(3,850</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; white-space: nowrap; vertical-align: bottom;" valign="middle"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(9,429</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; white-space: nowrap; vertical-align: bottom;" valign="middle"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">7,122</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> </table> </div> </div> </div> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 31.9pt; text-align: justify; text-indent: -31.9pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Cayman Islands</i></b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Under the current laws of the Cayman Islands, The Company is not subject to tax on its income or capital gains. In addition, <font>no</font> Cayman Islands withholding tax will be imposed on payments of dividends by the company to its shareholders.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>United States of America</i></b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Viewtel, a subsidiary incorporated in the United States of America, is subject to state income tax and federal income tax at different tax rates, depending upon taxable income levels. In general, corporations with taxable income of less than $<font>335</font> receive partial benefit from the graduated rates of <font>15</font>% and <font>25</font>% that apply to the first $<font>75</font> of taxable income. Viewtel had income tax expense of &#160;$<font>5</font>, $<font>2</font> and $<font>8</font> for the years ended December 31, 2012, 2013 and 2014, respectively.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Hong Kong</i></b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><i>Profits Tax</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Corporations carrying on any trade or business in Hong Kong are subject to profits tax on their assessable profits arising or derived from Hong Kong from such trade or business.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.6pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Hong Kong subsidiary of Vimicro China, has filed non-taxable offshore claims in its Hong Kong profits tax returns since the year of assessment 2005/2006 (for the assessment year ended December 31, 2005). In December 2009, the Hong Kong Inland Revenue Department issued the Departmental Interpretation and Practice Notes No. 21(Revised) to redefine the locality of profits. The Company believes Vimicro Hong Kong has technical grounds to claim that its profits are sourced offshore from Hong Kong and, where duly substantiated by documentation, it is more likely than not that Vimicro Hong Kong's offshore claim would be accepted by the Hong Kong Inland Revenue Department and the profits of Vimicro Hong Kong would therefore not be subject to Hong Kong profit tax.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.6pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Pursuant to the New EIT Law and related implementation rules&#160;in China, the Company believes that Vimicro Hong Kong is more likely than not to be deemed as a PRC tax resident and subject to the PRC EIT rate of <font>25</font>% on its worldwide income. The Company recognized $<font>292</font>, $<font>694</font> and nil of PRC income tax expenses related to continuing operations for the year ended December 31, 2012, 2013 and 2014 respectively.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.6pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><i>Withholding Tax</i>.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Under current Hong Kong tax laws, an entity established outside of Hong Kong is subject to a <font>4.95</font>% in 2011/12 and 2012/13 withholding tax on royalty income derived (or deemed to be) from Hong Kong. Vimicro Hong Kong makes royalty payments to Vimicro China for certain technologies licensed from Vimicro China. Vimicro China was previously subject to a <font>5.25</font>% withholding tax on royalties received from Vimicro Hong Kong, which Vimicro Hong Kong had withheld and used to settle the tax liabilities on behalf of Vimicro China. Upon approval by the relevant PRC tax authorities, the amount of Hong Kong withholding tax paid on the royalty income could be allowed as a foreign tax credit against Vimicro China's PRC income tax liabilities.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24pt;"><font style="color: black;">In connection with the offshore claim of Vimicro Hong Kong, to the extent that all of Vimicro Hong Kong's trading income is not taxable in Hong Kong, and no deduction will be claimed for the related royalty fee expenditure and the relevant intellectual property is not used in Hong Kong, the royalty fees are exempted from withholding tax in Hong Kong.&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>The People's Republic of China</i></b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><i>Enterprise Income Tax</i>.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">PRC enterprise income tax is calculated based on taxable income determined under PRC accounting principles. In March 2007, the National People's Congress adopted the New EIT Law, which became effective as of January 1, 2008. Under the New EIT Law, the enterprise income tax rate for domestic and foreign enterprises is unified at 25%, and enterprises established prior to March 16, 2007 that were eligible for preferential tax treatment according to the then effective PRC EIT Law for Foreign Investment Enterprise and Foreign Enterprise tax laws, administrative regulations, as well as circulars with equivalent effect, shall be subject to transitional rules&#160;to gradually change their rates to 25%. The New EIT Law and the related Implementation Rules&#160;also provide a preferential tax rate of <font>15</font>% to enterprises that qualify as &#147;high and new technology enterprises&#148; (&#147;HNTE&#148;). In accordance with the Implementation Rules&#160;of the New EIT Law, the preferential tax rate treatments granted to PRC entities that previously qualified for HNTE will not automatically be applicable under the new tax regime unless they qualify as HNTE pursuant to the New EIT Law, its Implementation Rules&#160;and relevant working guidance promulgated by the government authorities. Vimicro China was recognized as a HNTE by the relevant government authorities under the New EIT Law in 2011, and was entitled to a preferential tax rate of <font>15</font>% for the <font>three</font> years from 2011 to 2013.&#160;In 2014, Vimicro China resubmitted applications for qualification as a HNTE, which was approved in October 2014. Therefore, Vimicro China was subject to a <font>15</font>% income tax rate for the year of 2014.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 21.8pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In 2012, Vimicro Guiyang had been qualified as a Software Enterprise. As 2014 was the first year Vimicro Guiyang generated taxable profit, it is exempted from income tax rate for years 2014 and 2015, and will be subject to a <font>50</font>% tax reduction in its income tax rate for the subsequent <font>three</font> years under the New EIT Law.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 21.8pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In July 2014, the Ministry of Finance and the State Administration of Taxation jointly issued the <i>Notice on Issues Enterprise Income Tax Preferential Policies and Preferential Directory Business of Guangdong Hengqin New Area,</i> <i>Fujian Pingtan General Experimentation area,</i> <i>Shenzhen Qianhai Shengang cooperation area of Qianhai modern service industry, or Circul<b>a</b>r 26</i>. <font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 32px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none; /* background-color: #ffffff;">Pursuant to which Vimicro</font>&#160;Guangdong&#160;was entitled to a preferential income tax rate of <font>15</font>% in 2014 given that it is located in Guangdong Hengqin New Area. It may also enjoy a favorable income tax rate of &#160;<font>15</font>% from 2015 to 2020 based on a review of local tax bureau annually.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.6pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Under the New EIT Law, an enterprise established outside of the PRC with effective management located in the PRC, is considered a Chinese tax resident enterprise and will normally be subject to the PRC enterprise income tax at the rate of <font>25</font>% on its global income. If the PRC tax authorities subsequently determine that any of the entities in the group registered outside the PRC should be deemed a resident enterprise, they will be subject to PRC income tax at a rate of 25%.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.6pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Furthermore, under the New EIT Law, dividends payable by a foreign investment enterprise to its foreign non-resident enterprise investors that were derived from income after January 1, 2008, are subject to a <font>10</font>% withholding tax, unless such foreign investor's jurisdiction of incorporation has signed a tax treaty or arrangement for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income with China that provides for a reduced rate of withholding tax. The Cayman Islands, where the Company is incorporated, does not have such a tax treaty with the PRC. If it is considered a non-resident enterprise, the 10% withholding tax imposed on its dividend income received from Vimicro China, the Company's PRC subsidiary would reduce its net income and have an adverse effect on its operating results. The New EIT Law also provides that, if a resident enterprise directly invests in another resident enterprise, the dividends received by the investing resident enterprise from the invested enterprise are exempted from income tax, subject to certain conditions. Therefore, if the Company is classified as a resident enterprise, the dividends that it receives from Vimicro China may be exempted from income tax. Based on a review of surrounding facts and circumstances, the Group does not believe that it is likely that its operations outside of the PRC should be considered a resident enterprise for PRC tax purposes.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 28.6pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The amount of income tax payable by Vimicro China in the future will depend on various factors, including, among other things, its results of operations, taxable income, the amount of its deductible research and development expenses, and the statutory tax rate applicable to it. The Company's effective tax rate depends partially on the extent of each of its subsidiaries' relative contribution to its consolidated taxable income.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The following table sets forth thee reconciliation between the PRC's statutory income tax rate and the actual effective tax rate for the Group:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <div style="display: block;"> <div style="display: block;"> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"> <tr style="vertical-align: bottom;"> <td style="text-align: justify; font-family: 'times new roman'; padding: 0px;"></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="10" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Years ended December 31</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="text-align: justify; font-family: 'times new roman'; padding: 0px;"></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2012</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2013</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2014</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px; width: 61%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Statutory tax rate</font></td> <td style="font-family: 'times new roman'; padding: 0px; width: 1%;"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 1%;"></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">25</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">25</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">25</font></font></td> <td style="font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 1%; text-align: left;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Effect of foreign tax rates differential</font></td> <td style="font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(16</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)%</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(8</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)%</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">9</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Deferred tax rate differential</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">4</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(1</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)%</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">11</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Non-deductible expenses</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(30</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)%</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(36</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;">)%</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">7</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Change in valuation allowance</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">14</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">18</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(29</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)%</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Effect of elimination of unrealized intra-entity profits</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(5</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)%</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">46</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Effect of preferential tax treatment inside of PRC</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(36</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)%</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Others</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(2</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)%</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">3</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Effective income tax rate</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(5</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; vertical-align: middle;" valign="middle"><font style="font-family: 'times new roman', times; font-size: 10pt;">)%</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(7</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; vertical-align: middle;" valign="middle"><font style="font-family: 'times new roman', times; font-size: 10pt;">)%</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">36</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">%</font></td> </tr> </table> </div> </div> </div> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div class="CursorPointer"> <table style="font: 10pt times new roman, times, serif; margin-top: 0; margin-bottom: 0;" cellpadding="0" cellspacing="0"> <tr style="vertical-align: top; text-align: justify;"> <td style="width: 0in;"></td> <td style="width: 0.33in; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>(b)</i></b></font></td> <td style="text-align: justify; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>Deferred tax</i></b></font></td> </tr> </table> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18.7pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Group's significant components of deferred tax assets and liabilities as of December 31, 2013 and 2014 are as follows:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <div style="display: block;"> <div style="display: block;"> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="6" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>As of December 31</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; text-indent: 0.1in; font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'Times New Roman'; background-color: #ffffff;"></td> <td style="font-family: 'times new roman'; padding: 0px; text-align: center; background-color: #ffffff; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" colspan="2"><strong><font style="font-family: 'times new roman', times; font-size: 10pt;">2013</font></strong></td> <td style="font-family: 'times new roman'; padding: 0px; text-align: center; background-color: #ffffff;"><strong><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></strong></td> <td style="font-family: 'Times New Roman'; text-align: center; background-color: #ffffff;"><strong><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></strong></td> <td style="font-family: 'times new roman'; padding: 0px; text-align: center; background-color: #ffffff; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" colspan="2"><strong><font style="font-family: 'times new roman', times; font-size: 10pt;">2014</font></strong></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; /* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Deferred tax assets</strong></font></td> <td style="font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px;"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; /* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px; width: 74%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Provision for doubtful accounts and slow-moving inventories</font></td> <td style="font-family: 'times new roman'; padding: 0px; width: 1%;"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 1%;"></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,364</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; /* padding: 0px 5px; */ white-space: nowrap; width: 10%;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>3,006</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; /* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Accrued expenses, payroll and others</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,053</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>1,065</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; /* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Difference in tax basis from ViSS acquisition</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">695</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">515</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; /* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Difference in research and development expenses capitalization</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">3,229</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; /* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Operating loss carry-forwards</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">3,660</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>768</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="/* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Others</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,599</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>519</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; /* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Total deferred tax assets</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">11,600</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>5,873</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; /* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Valuation allowance</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(11,600</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(4,156</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; /* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Deferred tax assets, net of valuation allowance</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>1,717</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-indent: 0.1in; font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: left;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; /* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Deferred tax liabilities</strong></font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; /* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Differences in tax basis for property equipment and software, non-current</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">14</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">5</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; /* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Total deferred tax liabilities</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">14</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>5</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-indent: 0.1in; font-family: 'times new roman'; padding: 0px; vertical-align: top; text-align: left;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; /* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Classification on the consolidated balance sheets</strong></font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; /* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Deferred tax assets &#151; current</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,014</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; /* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Deferred tax assets &#151; non-current</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">703</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; /* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Deferred tax liabilities &#151; non-current</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">14</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">5</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> </table> </div> </div> </div> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>&#160;</i></b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Subject to the approval of the relevant tax authorities, the Group has tax losses carried forward from its subsidiaries in China totaling approximately $<font>4,298</font>&#160;as of December 31, 2014, of which $<font>103</font>, $<font>3,218</font>, $<font>179</font>, $<font>283</font>&#160;and $<font>452</font>&#160;if unused will expire in 2015, 2016, 2017, 2018 and 2019 respectively.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">For the year ended December 31, 2013,&#160;the increase in valuation allowance was&#160;$<font>1,575</font>&#160;. For the year ended December 31, 2014, the decrease in valuation allowance was $<font>9,189</font>&#160;.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The changes in unrecognized tax benefits are as follows:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <div style="display: block;"> <div style="display: block;"> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;" width="100%"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="6" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>As of December 31</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2013</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2014</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; font-family: 'times new roman'; width: 74%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Beginning balance</font></td> <td style="font-family: 'times new roman'; width: 1%;"></td> <td style="text-align: left; font-family: 'times new roman'; width: 1%;"></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,688</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Additions based on tax position of the current year</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,688</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; padding-bottom: 2.5pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Ending balance</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,688</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>1,688</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> </table> </div> </div> </div> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">As of December 31, 2013 and 2014, the Group has $<font>1,688</font> and $<font>1,688</font> of unrecognized tax benefits, nil of which would affect the effective tax rate if recognized in 2013. There were no unrecognized tax benefits for the years ended December 31 2012 and 2014. The Group does not anticipate any other material changes to its unrecognized tax position in the next twelve months.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Company recorded interest and penalties of RMB nil for the years ended December 31, 2012, 2013 and 2014. The Company's PRC entities and Vimicro Hong Kong's tax years from 2004 through 2014 are open for examination by the relevant tax authorities in PRC.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div class="CursorPointer"> <table style="font: 10pt times new roman, times, serif; margin-top: 0; margin-bottom: 0;" cellpadding="0" cellspacing="0"> <tr style="vertical-align: top; text-align: justify;"> <td style="width: 0in;"></td> <td style="width: 0.30in; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>(c)</i></b></font></td> <td style="text-align: justify; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>PRC Value Added Tax (&#147;VAT&#148;)</i></b></font></td> </tr> </table> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3.3pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18.7pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">According to PRC value-added tax policy, all entities and individuals engaged in the sales of goods, the provision of processing, repair and replacement services, and the importation of goods within the territory of the PRC are taxpayers for VAT and shall pay VAT in accordance with the VAT regulations. Vimicro China, Vimicro Tianjin, Vimicro Guiyang, Vimicro Fuzhou as the general taxpayers are subject to the output VAT at <font>17</font>% of selling price of products sold to customers in China, while the purchase of products by those companies are subject to the input VAT at the rate of <font>17</font>%. VAT payable is the net difference between periodic output VAT and deductible input VAT. On November 5, 2008, the PRC State Council passed The Provisional Regulations of the People's Republic of China on Value-Added Tax, or New VAT Law. In accordance with the New VAT Law and its Implementation Rules, which became effective as of January 1, 2009, input VAT on fixed asset purchases for further production purpose are included in the input VAT for VAT payable purposes.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18.7pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The launch of VAT Reform Pilot Program (i.e. converting from business tax to VAT) in the transportation industry and certain modern services industries in Shanghai was effective from January 1, 2012. Following the Pilot Program in Shanghai, the State Council approved expanding the Pilot Program to 8 other provinces and municipalities: Beijing, Tianjin, Jiangsu, Zhejiang (including Ningbo), Anhui, Fujian (including Xiamen), Hubei, Guangdong (including Shenzhen) in batches from September 1, 2012 to the end of 2012. The State Council approved expanding the Pilot Program to the whole country in August 2013. Under the Pilot Program, the entities which provide transportation services and certain modern services within the territory of PRC are subject to VAT instead of business tax. Vimicro China's transfer of technology, which was subject to business tax prior to the Pilot Program, falls within the VAT reform scope and is subject to the VAT at <font>6</font>% from September 1, 2012. In addition, the technology transfer services provided to foreign entities are eligible for VAT exemption under the Pilot Program. Vimicro China is entitled to the exemption on income arising from or related to technology transfers, provided relevant technology transfer agreements are registered with the relevant government agencies.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18.7pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In addition, where an entity or an individual outside of the territory of PRC and having no business presence in PRC provided VAT taxable services to a resident enterprise, the service recipient shall act as the withholding agent. Accordingly, Vimicro China is obliged to withhold <font>6</font>% VAT and surcharge on the payment to Viewtel in connection with the purchase of the research and development services starting from September 1, 2012.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div class="CursorPointer"> <table style="font: 10pt times new roman, times, serif; margin-top: 0; margin-bottom: 0;" cellpadding="0" cellspacing="0"> <tr style="vertical-align: top; text-align: justify;"> <td style="width: 0in;"></td> <td style="width: 0.30in; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>(d)</i></b></font></td> <td style="text-align: justify; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>PRC Business Tax (&#147;BT&#148;)</i></b></font></td> </tr> </table> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18.7pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">According to PRC business tax policy, service income generally is subject to BT at 5%. Vimicro Corporation is entitled to BT exemption on income arising from or related to technology transfers provided these technology transfer agreements are registered with the relevant government agencies. Vimicro Corporation also has incidental customer technology service income, which is subject to BT at 5%.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18.7pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In December 2008, the Ministry of Finance and State Administration of Taxation revised the Business Tax Detailed Implementation Rules, under which all entities or individuals that provide labor services within PRC are mandatory payers of BT and the &#147;provision of labor services in China&#148; is defined to mean where either the service provider or the service recipient is located in China. Accordingly the Company incurred additional business tax beginning January 1, 2009 primarily in connection with its PRC subsidiaries' procurement of overseas intellectual properties and the purchase of the research and development services from Viewtel by Vimicro China.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 18.7pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In accordance with the Implementation Rules&#160;for the PRC Tentative Regulations on Business Tax, promulgated on December 15, 2008 and effective as of January 1, 2009, service income excluding that derived from providing VAT taxable services is subject to PRC business tax when either the service provider or the service recipient is located in China. The tax rate on the transfer of technology and research and development services was <font>5</font>% prior to the VAT Pilot Program. However, the income arising from or related to the technology transfer was eligible to the exemption of business tax, provided relevant technology transfer agreements are registered with the relevant government agencies. Vimicro China was entitled to the business tax exemption on its income arising from the transfer of technology and relevant technology consulting services. With regard to the purchase of research and development services from Viewtel, as the withholding tax agent of business tax, Vimicro China withheld business tax and surcharge prior to September 1, 2012.</font></p> </div> <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div style="display: block;"> <div style="display: block;"> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;" width="100%"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="6" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>As of December 31</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2013</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2014</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; font-family: 'times new roman'; width: 74%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Beginning balance</font></td> <td style="font-family: 'times new roman'; width: 1%;"></td> <td style="text-align: left; font-family: 'times new roman'; width: 1%;"></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,688</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: justify; padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Additions based on tax position of the current year</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,688</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: justify; padding-bottom: 2.5pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Ending balance</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,688</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; white-space: nowrap; /* padding-right: 5px; */ padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>1,688</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> </table> </div> </div> </div> </div> -3029000 -2300000 335000 0.15 0.25 75000 5000 2000 8000 0.25 292000 694000 0.0495 0.0525 0.15 0.15 P3Y 0.15 0.50 P3Y 0 2019-12-31 0 0 0 2015-12-31 2016-12-31 0.0495 0 2018-12-31 2017-12-31 0.18 0.51 0.1203 10000000 5000000 0.001 2000 8000 333000 21308000 55962000 523000 828000 277000 3721000 1416000 5000000 77000 45000 450000 449000 33000 22000 885000 231000 19375000 100938000 204000 1000 6836000 6611000 42000 309000 285000 <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div style="display: block;"> <div style="display: block;"> <div style="display: block; ;display: block;"> <div class="CursorPointer"> <table style="font: 10pt times new roman, times, serif; margin-top: 0; margin-bottom: 0;" cellpadding="0" cellspacing="0"> <tr style="vertical-align: top; text-align: justify;"> <td style="width: 0.33in; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>17.</b></font></td> <td style="text-align: justify; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>RELATED PARTY TRANSACTIONS</b></font></td> </tr> </table> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="text-indent: 24pt;font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The principal related parties with which the Group had transactions during the years presented are as follows:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <div style="display: block;"> <table cellspacing="0" cellpadding="0" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; border-collapse: collapse; width: 100%;" width="100%"> <tr style="vertical-align: bottom;"> <td style="width: 38%; border-bottom: black 1pt solid; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>Name&#160;of&#160;related&#160;parties</b></font></td> <td style="width: 4%; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="width: 58%; border-bottom: black 1pt solid; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>Relationship&#160;with&#160;the&#160;Group</b></font></td> </tr> <tr> <td style="vertical-align: top; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Tianjin SAMC</font></td> <td style="vertical-align: bottom; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Non-controlling shareholder of Vimicro Tianjin</font></td> </tr> <tr> <td style="vertical-align: top; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Ningbo Sunny Opotech Co., Ltd</font></td> <td style="vertical-align: bottom; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Non-controlling shareholder of Visiondigi</font></td> </tr> <tr> <td style="vertical-align: top; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Vimicro Wuxi</font></td> <td style="vertical-align: bottom; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Owned by certain executives of the Company</font></td> </tr> <tr> <td style="vertical-align: top; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">VMF Consulting Company</font></td> <td style="vertical-align: bottom; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Owned by certain executives of the Company</font></td> </tr> <tr> <td style="vertical-align: top; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Vimicro Qingdao</font></td> <td style="vertical-align: bottom; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>18</font>% equity investee of the Company</font></td> </tr> <tr> <td style="vertical-align: top; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Zhongtianxin</font></td> <td style="vertical-align: bottom; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>51</font>% equity investee of the Company</font></td> </tr> <tr> <td style="vertical-align: top; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Visiondigi</font></td> <td style="vertical-align: bottom; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>12.03</font>% equity investee of the Company</font></td> </tr> <tr> <td style="vertical-align: top; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Vimicro Tianshi</font></td> <td style="vertical-align: bottom; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Owned by certain executives of the Company</font></td> </tr> </table> </div> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>(a)&#160;The Group had the following related party transactions:</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>&#160;</b></font></p> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%;"> <tr style="vertical-align: top;"> <td style="width: 14.3pt;"></td> <td style="width: 18pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>(1)</b></font></td> <td style="text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In April 2013, after the approval by the audit committee and the special independent committee, the Company disposed the equity interest in VMF Shenzhen to Vimicro Tianshi, which was majority owned by the senior executives of the Group, for a total consideration of $<font>10,000</font> based on a valuation performed by a third party appraiser. The transaction was considered an in-substance sales of real estate accounted for in accordance with ASC 360-20,<i> Property, Plant and Equipment &#151; Real Estate Sales</i>. Due to insufficient initial investment made by Vimicro Tianshi, a sale was not consummated as of December 31, 2013 and was accounted for using the cost recovery method. During the year ended December 31, 2013, the Group transferred the ownership of VMF Shenzhen and received $<font>5,000</font> of consideration. Accordingly, the Group deconsolidated VMF Shenzhen and the outstanding consideration of $<font>5,000</font> was recorded as an amount due from related party at December 31, 2013. The Company received $<font>3,800</font> and $<font>1,200</font> in January 2014 and April 2014, respectively, and the related disposal gain was recognized in the consolidated statements of comprehensive loss/income.</font></td> </tr> </table> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27.5pt; text-align: justify; text-indent: -13.2pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%;"> <tr style="vertical-align: top;"> <td style="width: 14.3pt;"></td> <td style="width: 18pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>(2)</b></font></td> <td style="text-align: justify; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Group held <font>0.1</font>% equity interest in Vimicro Wuxi with a carrying amount of $<font>2</font> as of December 31, 2012. The Group disposed 0.1% equity interest of Vimicro Wuxi in September 2013 for $<font>8</font> to VMF Consulting Company.</font></td> </tr> </table> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27.5pt; text-align: justify; text-indent: -13.2pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%;"> <tr style="vertical-align: top;"> <td style="width: 14.3pt;"></td> <td style="width: 18pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>(3)</b></font></td> <td style="text-align: justify; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">For the year ended December 31, 2013 and 2014, the Group sold inventories to Zhongtianxin totaling $21,308 and $55,962 to carry out its surveillance projects. The Group also purchased inventory from Zhongtianxin in the amount of $3,721 and $1,416, respectively. In addition, as of December 31, 2013 and 2014, the amount due to the Group from Zhongtianxin totaled $19,375 and $100,938. This outstanding amount primarily consisted of accounts receivable. As of December 31, 2013 and 2014, the Group had an amount due to Zhongtianxin of $6,836 and $6,611 which was related to prepayments made to vendors by Zhongtianxin on behalf of the Group.</font></td> </tr> </table> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%;"> <tr style="vertical-align: top;"> <td style="width: 14.3pt;"></td> <td style="width: 18pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>(4)</b></font></td> <td style="text-align: justify; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">In addition to the transactions disclosed elsewhere in these financial statements, the Group also had the following related party transactions for the years ended December 31, 2012, 2013 and 2014:</font></td> </tr> </table> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <div style="display: block;"> <div style="display: block;"> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="10" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Years Ended December 31</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2012</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2013</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2014</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Revenues</strong></font></td> <td style="font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman';"></td> <td style="text-align: right; font-family: 'times new roman';"></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; width: 61%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Vimicro Qingdao</font></td> <td style="font-family: 'times new roman'; width: 1%;"></td> <td style="text-align: left; font-family: 'times new roman'; width: 1%;"></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">333</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Zhongtianxin</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">21,308</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">55,962</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Tianjin SAMC</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">523</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">828</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">277</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Cost&#160;of&#160;revenues</strong></font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Zhongtianxin</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">3,721</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,416</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> </table> </div> </div> </div> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div class="CursorPointer"> <table style="font: 10pt times new roman, times, serif; margin-top: 0; margin-bottom: 0;" cellpadding="0" cellspacing="0"> <tr style="vertical-align: top; text-align: justify;"> <td style="width: 0in;"></td> <td style="width: 0.33in; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">(b)</font></td> <td style="text-align: justify; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Group had the following related party balances as of December 31, 2013 and 2014:</font></td> </tr> </table> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div class="CursorPointer"> <div> <div style="display: block;"> <div style="display: block;"> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="6" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>As of December 31</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2013</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2014</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Amounts due from related parties:</strong></font></td> <td style="font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman';"></td> <td style="text-align: right; font-family: 'times new roman';"></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; width: 74%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Vimicro Tianshi</font></td> <td style="font-family: 'times new roman'; width: 1%;"></td> <td style="text-align: left; font-family: 'times new roman'; width: 1%;"></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">5,000</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Vimicro Qingdao</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">77</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">45</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">VMF Consulting Company</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">450</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">449</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Vimicro Wuxi</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">33</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">22</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Tianjin SAMC</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">885</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">231</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="padding-bottom: 1pt; font-family: 'times new roman'; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Zhongtianxin</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman'; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">19,375</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">100,938</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="padding-bottom: 2.5pt; font-family: 'times new roman'; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Total</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman'; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; background-color: #ffffff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">25,820</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; background-color: #ffffff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">101,686</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Amounts due to related parties:</strong></font></td> <td style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Vimicro Wuxi</font></td> <td style="font-family: 'Times New Roman'; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; background-color: #ffffff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">204</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; background-color: #ffffff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="padding-bottom: 1pt; font-family: 'times new roman'; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Zhongtianxin</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman'; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">6,836</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">6,611</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="padding-bottom: 2.5pt; font-family: 'times new roman'; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Total</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman'; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; background-color: #ffffff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">7,040</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; background-color: #ffffff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">6,612</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> </table> </div> </div> </div> </div> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Outstanding balances at the balance sheet date were unsecured, interest-free, and had no specified repayment terms. There have been no guarantees provided or received for any related party receivables or payables.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The provision for doubtful accounts of amounts due from Visiondigi was charged by $<font>42</font> and <font>nil</font> for the years ended December 31, 2013 and 2014, respectively. The provision for doubtful accounts of amounts due from Vimicro Qingdao was reversed by $<font>309</font> and $<font>285</font> for the years ended December 31, 2013 and 2014, respectively.</font></p> </div> </div> </div> </div> <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div style="display: block;"> <table cellspacing="0" cellpadding="0" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; border-collapse: collapse; width: 100%;" width="100%"> <tr style="vertical-align: bottom;"> <td style="width: 38%; border-bottom: black 1pt solid; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>Name&#160;of&#160;related&#160;parties</b></font></td> <td style="width: 4%; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="width: 58%; border-bottom: black 1pt solid; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>Relationship&#160;with&#160;the&#160;Group</b></font></td> </tr> <tr> <td style="vertical-align: top; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Tianjin SAMC</font></td> <td style="vertical-align: bottom; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Non-controlling shareholder of Vimicro Tianjin</font></td> </tr> <tr> <td style="vertical-align: top; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Ningbo Sunny Opotech Co., Ltd</font></td> <td style="vertical-align: bottom; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Non-controlling shareholder of Visiondigi</font></td> </tr> <tr> <td style="vertical-align: top; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Vimicro Wuxi</font></td> <td style="vertical-align: bottom; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Owned by certain executives of the Company</font></td> </tr> <tr> <td style="vertical-align: top; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">VMF Consulting Company</font></td> <td style="vertical-align: bottom; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Owned by certain executives of the Company</font></td> </tr> <tr> <td style="vertical-align: top; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Vimicro Qingdao</font></td> <td style="vertical-align: bottom; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>18</font>% equity investee of the Company</font></td> </tr> <tr> <td style="vertical-align: top; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Zhongtianxin</font></td> <td style="vertical-align: bottom; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>51</font>% equity investee of the Company</font></td> </tr> <tr> <td style="vertical-align: top; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Visiondigi</font></td> <td style="vertical-align: bottom; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><font>12.03</font>% equity investee of the Company</font></td> </tr> <tr> <td style="vertical-align: top; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Vimicro Tianshi</font></td> <td style="vertical-align: bottom; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Owned by certain executives of the Company</font></td> </tr> </table> </div> </div> <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div style="display: block;"> <div style="display: block;"> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="10" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Years Ended December 31</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2012</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2013</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2014</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Revenues</strong></font></td> <td style="font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman';"></td> <td style="text-align: right; font-family: 'times new roman';"></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; width: 61%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Vimicro Qingdao</font></td> <td style="font-family: 'times new roman'; width: 1%;"></td> <td style="text-align: left; font-family: 'times new roman'; width: 1%;"></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">333</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Zhongtianxin</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">21,308</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">55,962</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Tianjin SAMC</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">523</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">828</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">277</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Cost&#160;of&#160;revenues</strong></font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Zhongtianxin</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">3,721</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,416</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> </table> </div> </div> </div> </div> <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div style="display: block;"> <div style="display: block;"> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="6" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>As of December 31</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2013</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2014</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Amounts due from related parties:</strong></font></td> <td style="font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman';"></td> <td style="text-align: right; font-family: 'times new roman';"></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; width: 74%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Vimicro Tianshi</font></td> <td style="font-family: 'times new roman'; width: 1%;"></td> <td style="text-align: left; font-family: 'times new roman'; width: 1%;"></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">5,000</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Vimicro Qingdao</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">77</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">45</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">VMF Consulting Company</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">450</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">449</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Vimicro Wuxi</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">33</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">22</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Tianjin SAMC</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">885</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">231</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="padding-bottom: 1pt; font-family: 'times new roman'; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Zhongtianxin</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman'; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">19,375</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">100,938</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="padding-bottom: 2.5pt; font-family: 'times new roman'; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Total</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman'; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; background-color: #ffffff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">25,820</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; background-color: #ffffff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">101,686</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Amounts due to related parties:</strong></font></td> <td style="font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Vimicro Wuxi</font></td> <td style="font-family: 'Times New Roman'; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; background-color: #ffffff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">204</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; background-color: #ffffff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="padding-bottom: 1pt; font-family: 'times new roman'; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Zhongtianxin</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman'; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">6,836</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">6,611</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="padding-bottom: 2.5pt; font-family: 'times new roman'; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Total</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman'; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; background-color: #ffffff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">7,040</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; background-color: #ffffff;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">6,612</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #ffffff;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> </table> </div> </div> </div> </div> 53435000 17760000 -8000 30603000 14551000 -8000 22832000 3209000 1856000 53435000 16896000 22078000 43791000 -1344000 14242000 29243000 -1344000 7836000 14548000 1445000 20735000 21654000 16905000 85084000 -1546000 7966000 54933000 -1546000 8939000 30151000 1894000 15359000 28845000 18186000 44115000 84978000 53001000 20410000 15465000 47300000 70350000 1058000 1864000 133000 115000 48491000 72329000 53011000 20401000 14719000 1670000 2186000 424000 7000 <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div style="display: block; ;display: block;"> <div style="display: block;"> <div class="CursorPointer"> <table style="font: 10pt times new roman, times, serif; margin-top: 0; margin-bottom: 0;" cellpadding="0" cellspacing="0"> <tr style="vertical-align: top; text-align: justify;"> <td style="width: 0.33in; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>18.</b></font></td> <td style="text-align: justify; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>SEGMENT REPORTING</b></font></td> </tr> </table> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Based on the criteria established by ASC 280,<i> Segment Reporting</i>, the Company has determined that the business segments that constitute its primary reporting segments are video processor and video surveillance solution by the chief operating decision maker, the Chief Operating Officer, in accordance with the Group's organization and internal financial reporting structure. As no measures of assets by segment are reported and used by the chief operating decision maker, the Group has not made disclosure of total assets by reportable segment.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="text-indent: 24pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Summarized information by business segments for the years ended December 31, 2012, 2013 and 2014 is as follows:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div style="display: block;"> <div> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="14" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Year&#160;Ended&#160;December&#160;31,&#160;2012</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Video <br/>processor <br/>business</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Video <br/>surveillance <br/>solution <br/>business</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Intersegment <br/>elimination*</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Consolidated</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="2"></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom;"> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="2"></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="/* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px; width: 48%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Revenue</font></td> <td style="font-family: 'times new roman'; padding: 0px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">53,435</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">17,760</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(8</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">71,187</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="/* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Cost of revenue</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(30,603</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(14,551</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">8</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(45,146</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; /* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Gross profit</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">22,832</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">3,209</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">26,041</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; /* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Unallocated operating expenses</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(31,747</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; /* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Unallocated non-operating income, net</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,856</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; /* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Loss before income taxes</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(3,850</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: middle; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> </table> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><br/></p> </div> <p style="text-indent: 24pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The revenue of Video processor business and Video surveillance solution business from external customers amounted to $<font>53,435</font> and $<font>16,896</font>, respectively, for the year ended December 31, 2012.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <div style="margin-left: 24pt;" class="CursorPointer"> <table width="100%" cellpadding="0" border="0" cellspacing="0"> <tr> <td style="vertical-align: top; width: 1.5%;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>*</b></font><br/></td> <td style="width: 98.5%;"> <div><font style="font-family: 'times new roman', times; font-size: 10pt;">The intersegment eliminations represented products sold between Vimicro Tianjin and Vimicro China in the year ended December 31, 2012. Video surveillance solution business segment revenues have been impacted by intersegment transactions that are eliminated in consolidation.</font></div> </td> </tr> </table> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="14" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Year&#160;Ended&#160;December&#160;31,&#160;2013</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Video <br/>processor <br/>business</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Video <br/>surveillance <br/>solution <br/>business</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Intersegment <br/>Elimination**</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Consolidated</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="2"></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="/* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px; width: 48%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Revenue</font></td> <td style="font-family: 'times new roman'; padding: 0px; width: 1%;"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 1%;"></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">22,078</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">43,791</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(1,344</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">64,525</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="/* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Cost of revenue</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(14,242</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(29,243</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,344</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(42,141</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; /* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Gross profit</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">7,836</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">14,548</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">22,384</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; /* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Unallocated operating expenses</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(33,258</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; /* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Unallocated non-operating income, net</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,445</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; /* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Loss before income taxes expense</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(9,429</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: middle; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> </table> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> </div> <p style="text-indent: 24pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The revenue of Video processor business and Video surveillance solution business from external customers amounted to $<font>20,735</font> and $<font>21,654</font>, respectively, for the year ended December 31, 2013.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <div style="margin-left: 24pt;" class="CursorPointer"> <table width="100%" cellpadding="0" border="0" cellspacing="0"> <tr> <td style="vertical-align: top; width: 1.5%;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>**</b></font><br/></td> <td style="width: 98.5%;"> <div><font style="font-family: 'times new roman', times; font-size: 10pt;">The intersegment eliminations represented products sold between Vimicro Tianjin and Vimicro China in the year ended December 31, 2013. Video processor business and video surveillance solution business segment revenues have been impacted by intersegment transactions that are eliminated in consolidation.</font></div> </td> </tr> </table> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="14" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Year&#160;Ended&#160;December&#160;31,&#160;2014</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Video <br/>processor <br/>business</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Video <br/>surveillance <br/>solution <br/>business</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Intersegment <br/>Elimination***</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Consolidated</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="2"></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="/* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px; width: 48%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Revenue</font></td> <td style="font-family: 'times new roman'; padding: 0px; width: 1%;"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 1%;"></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">16,905</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">85,084</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(1,546</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">100,443</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="/* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Cost of revenue</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(7,966</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(54,933</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,546</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(61,353</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; /* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Gross profit</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">8,939</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">30,151</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">39,090</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; /* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Unallocated operating expenses</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(33,862</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; /* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Unallocated non-operating income, net</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,894</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; /* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Loss before income taxes expense</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">7,122</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> </table> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> </div> <p style="text-indent: 24pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The revenue of Video processor business and Video surveillance solution business from external customers amounted to $<font>15,359</font> and $<font>28,845</font>, respectively, for the year ended December 31, 2014.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> </div> <div> <div style="display: block;"> <div class="CursorPointer" style=" margin-left: 24pt; "> <table width="100%" cellpadding="0" border="0" cellspacing="0"> <tr> <td style="vertical-align: top; width: 1.5%;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>***</b></font><br/></td> <td style="width: 98.5%;"> <div><font style="font-family: 'times new roman', times; font-size: 10pt;">The intersegment eliminations represented products sold between Vimicro Tianjin and Vimicro China in the year ended December 31, 2014. Video processor business and video surveillance solution business segment revenues have been impacted by intersegment transactions that are eliminated in consolidation.</font></div> </td> </tr> </table> </div> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><br/></p> </div> <p style="text-indent: 24pt; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The revenue presented below is attributed by country of domicile of the entity that recorded the revenue:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <div style="display: block;"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;" width="100%"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td nowrap="nowrap" style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="10" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Years Ended December 31</strong></font></td> <td nowrap="nowrap" style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2012</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2013</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2014</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; /* text-indent: 11pt; */ /* padding-left: 11pt; */ font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Revenue distribution</strong></font></td> <td style="font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman';"></td> <td style="text-align: right; font-family: 'times new roman';"></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; /* text-indent: 11pt; */ /* padding-left: 11pt; */ font-family: 'times new roman'; width: 61%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Mainland China</font></td> <td style="font-family: 'times new roman'; width: 1%;"></td> <td style="text-align: left; font-family: 'times new roman'; width: 1%;"></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">18,186</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">44,115</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">84,978</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; padding-bottom: 1pt; /* text-indent: 11pt; */ /* padding-left: 11pt; */ font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Hong Kong</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">53,001</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">20,410</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">15,465</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="padding-bottom: 2.5pt; text-indent: 11pt; padding-left: 11pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">71,187</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">64,525</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">100,443</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> </table> </div> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The following table summarizes information regarding the distribution of long-lived assets by geographic region:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <div style="display: block;"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;" width="100%"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td nowrap="nowrap" style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="6" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>As of December 31</strong></font></td> <td nowrap="nowrap" style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2013</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2014</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="/* text-indent: 11pt; */ /* padding-left: 11pt; */ font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Long-lived assets</strong></font></td> <td style="font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman';"></td> <td style="text-align: right; font-family: 'times new roman';"></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; /* text-indent: 11pt; */ /* padding-left: 11pt; */ font-family: 'times new roman'; width: 74%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Mainland China</font></td> <td style="font-family: 'times new roman'; width: 1%;"></td> <td style="text-align: left; font-family: 'times new roman'; width: 1%;"></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">47,300</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">70,350</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; /* text-indent: 11pt; */ /* padding-left: 11pt; */ font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Hong Kong</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,058</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,864</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="padding-bottom: 1pt; /* text-indent: 11pt; */ /* padding-left: 11pt; */ font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">U.S.A.</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">133</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">115</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="padding-bottom: 2.5pt; text-indent: 11pt; padding-left: 11pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">48,491</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">72,329</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> </table> </div> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The following table summarizes the Group's revenues for each product class for the years ended December 31, 2012, 2013 and 2014 respectively:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <div style="display: block;"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="10" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Years Ended December 31</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2012</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2013</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2014</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Video processor business segment:</strong></font></td> <td style="font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px;"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px; width: 61%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">PC camera processor</font></td> <td style="font-family: 'times new roman'; padding: 0px; width: 1%;"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 1%;"></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">53,011</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">20,401</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">14,719</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Surveillance processor</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,670</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">2,186</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Other products</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">424</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">7</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="/* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Sub-total</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">53,435</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">22,078</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">16,905</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Video surveillance solutions business segment:</strong></font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">17,760</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">43,791</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">85,084</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Intersegment elimination</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(8</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(1,344</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(1,546</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Total multimedia business</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">71,187</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">64,525</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">100,443</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> </table> </div> </div> </div> </div> </div> <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div style="display: block;"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;" width="100%"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td nowrap="nowrap" style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="10" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Years Ended December 31</strong></font></td> <td nowrap="nowrap" style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2012</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2013</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2014</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; /* text-indent: 11pt; */ /* padding-left: 11pt; */ font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Revenue distribution</strong></font></td> <td style="font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman';"></td> <td style="text-align: right; font-family: 'times new roman';"></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; /* text-indent: 11pt; */ /* padding-left: 11pt; */ font-family: 'times new roman'; width: 61%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Mainland China</font></td> <td style="font-family: 'times new roman'; width: 1%;"></td> <td style="text-align: left; font-family: 'times new roman'; width: 1%;"></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">18,186</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">44,115</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">84,978</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; padding-bottom: 1pt; /* text-indent: 11pt; */ /* padding-left: 11pt; */ font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Hong Kong</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">53,001</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">20,410</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">15,465</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="padding-bottom: 2.5pt; text-indent: 11pt; padding-left: 11pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">71,187</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">64,525</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">100,443</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> </table> </div> </div> <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div style="display: block;"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;" width="100%"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td nowrap="nowrap" style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="6" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>As of December 31</strong></font></td> <td nowrap="nowrap" style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2013</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2014</strong></font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="/* text-indent: 11pt; */ /* padding-left: 11pt; */ font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Long-lived assets</strong></font></td> <td style="font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman';"></td> <td style="text-align: right; font-family: 'times new roman';"></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; /* text-indent: 11pt; */ /* padding-left: 11pt; */ font-family: 'times new roman'; width: 74%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Mainland China</font></td> <td style="font-family: 'times new roman'; width: 1%;"></td> <td style="text-align: left; font-family: 'times new roman'; width: 1%;"></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">47,300</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">70,350</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; /* text-indent: 11pt; */ /* padding-left: 11pt; */ font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Hong Kong</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,058</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,864</font></font></td> <td style="text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="padding-bottom: 1pt; /* text-indent: 11pt; */ /* padding-left: 11pt; */ font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">U.S.A.</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">133</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 1pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">115</font></font></td> <td style="padding-bottom: 1pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="padding-bottom: 2.5pt; text-indent: 11pt; padding-left: 11pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">48,491</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2.5pt; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">72,329</font></font></td> <td style="padding-bottom: 2.5pt; text-align: left; font-family: 'times new roman'; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> </table> </div> </div> 10189000 13800000 34418 43000000 <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div style="display: block;"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="10" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Years Ended December 31</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2012</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2013</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2014</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Video processor business segment:</strong></font></td> <td style="font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px;"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px; width: 61%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">PC camera processor</font></td> <td style="font-family: 'times new roman'; padding: 0px; width: 1%;"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 1%;"></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">53,011</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">20,401</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">14,719</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Surveillance processor</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,670</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">2,186</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Other products</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">424</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">7</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="/* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Sub-total</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">53,435</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">22,078</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">16,905</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Video surveillance solutions business segment:</strong></font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">17,760</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">43,791</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">85,084</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Intersegment elimination</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(8</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(1,344</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(1,546</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Total multimedia business</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">71,187</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">64,525</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">100,443</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> </table> </div> </div> <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="14" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Year&#160;Ended&#160;December&#160;31,&#160;2012</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Video <br/>processor <br/>business</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Video <br/>surveillance <br/>solution <br/>business</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Intersegment <br/>elimination*</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Consolidated</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="2"></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom;"> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="2"></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="/* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px; width: 48%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Revenue</font></td> <td style="font-family: 'times new roman'; padding: 0px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">53,435</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">17,760</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(8</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">71,187</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="/* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Cost of revenue</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(30,603</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(14,551</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">8</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(45,146</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; /* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Gross profit</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">22,832</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">3,209</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">26,041</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; /* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Unallocated operating expenses</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(31,747</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; /* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Unallocated non-operating income, net</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,856</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; /* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Loss before income taxes</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(3,850</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: middle; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> </table> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><br/></p> <div style="margin-left: 24pt;" class="CursorPointer"> <table width="100%" cellpadding="0" border="0" cellspacing="0"> <tr> <td style="vertical-align: top; width: 1.5%;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>*</b></font><br/></td> <td style="width: 98.5%;"> <div><font style="font-family: 'times new roman', times; font-size: 10pt;">The intersegment eliminations represented products sold between Vimicro Tianjin and Vimicro China in the year ended December 31, 2012. Video surveillance solution business segment revenues have been impacted by intersegment transactions that are eliminated in consolidation.</font></div> </td> </tr> </table> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="14" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Year&#160;Ended&#160;December&#160;31,&#160;2013</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Video <br/>processor <br/>business</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Video <br/>surveillance <br/>solution <br/>business</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Intersegment <br/>Elimination**</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Consolidated</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="2"></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="/* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px; width: 48%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Revenue</font></td> <td style="font-family: 'times new roman'; padding: 0px; width: 1%;"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 1%;"></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">22,078</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">43,791</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(1,344</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">64,525</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="/* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Cost of revenue</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(14,242</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(29,243</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,344</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(42,141</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; /* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Gross profit</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">7,836</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">14,548</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">22,384</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; /* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Unallocated operating expenses</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(33,258</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; /* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Unallocated non-operating income, net</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,445</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; /* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Loss before income taxes expense</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(9,429</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: middle; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> </table> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div style="margin-left: 24pt;" class="CursorPointer"> <table width="100%" cellpadding="0" border="0" cellspacing="0"> <tr> <td style="vertical-align: top; width: 1.5%;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>**</b></font><br/></td> <td style="width: 98.5%;"> <div><font style="font-family: 'times new roman', times; font-size: 10pt;">The intersegment eliminations represented products sold between Vimicro Tianjin and Vimicro China in the year ended December 31, 2013. Video processor business and video surveillance solution business segment revenues have been impacted by intersegment transactions that are eliminated in consolidation.</font></div> </td> </tr> </table> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div class="CursorPointer"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="14" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Year&#160;Ended&#160;December&#160;31,&#160;2014</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Video <br/>processor <br/>business</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Video <br/>surveillance <br/>solution <br/>business</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Intersegment <br/>Elimination***</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Consolidated</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="2"></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="/* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px; width: 48%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Revenue</font></td> <td style="font-family: 'times new roman'; padding: 0px; width: 1%;"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 1%;"></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">16,905</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">85,084</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(1,546</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">100,443</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="/* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Cost of revenue</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(7,966</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(54,933</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,546</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(61,353</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; /* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Gross profit</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">8,939</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">30,151</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">&#151;</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">39,090</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; /* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Unallocated operating expenses</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(33,862</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; /* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Unallocated non-operating income, net</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,894</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; /* text-indent: 0.1in; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Loss before income taxes expense</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">7,122</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> </table> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div style="display: block;"> <div class="CursorPointer" style=" margin-left: 24pt; "> <table width="100%" cellpadding="0" border="0" cellspacing="0"> <tr> <td style="vertical-align: top; width: 1.5%;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>***</b></font><br/></td> <td style="width: 98.5%;"> <div><font style="font-family: 'times new roman', times; font-size: 10pt;">The intersegment eliminations represented products sold between Vimicro Tianjin and Vimicro China in the year ended December 31, 2014. Video processor business and video surveillance solution business segment revenues have been impacted by intersegment transactions that are eliminated in consolidation.</font></div> </td> </tr> </table> </div> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><br/></p> </div> 300000 284000 118000 466000 989000 237000 1218000 2193000 226000 3185000 153000 <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"><div style="display: block;"> <table style="font: 10pt times new roman, times, serif; margin-top: 0; margin-bottom: 0;" cellpadding="0" cellspacing="0"> <tr style="vertical-align: top; text-align: justify;"> <td style="width: 0.33in; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>19.</b></font></td> <td style="text-align: justify; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>PRODUCT WARRANTY</b></font></td> </tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Total</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Product&#160;warranty</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="/* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px; width: 87%;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Balance as of December 31, 2011</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px; width: 1%;"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 1%;"></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">300</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Warranty accrued</font></td> <td style="font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">284</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="/* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Utilized</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(118</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="/* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Balance as of December 31, 2012</strong></font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">466</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Warranty accrued</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">989</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="/* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Utilized</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(237</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="/* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Balance as of December 31, 2013</strong></font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,218</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Warranty accrued</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">2,193</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="/* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Utilized</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(226</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="/* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Balance as of December 31, 2014</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">3,185</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> </table> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The current portion of product warranty of $<font>153</font> and<font> nil</font> as of December 31, 2013 and 2014, respectively, is included in Other accrued expenses of &#147;Accrued expenses and other current liabilities&#148; in the consolidated balance sheets.</font></p> </div></div> <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Total</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Product&#160;warranty</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="/* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px; width: 87%;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Balance as of December 31, 2011</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px; width: 1%;"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 1%;"></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">300</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Warranty accrued</font></td> <td style="font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">284</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="/* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Utilized</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(118</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="/* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Balance as of December 31, 2012</strong></font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">466</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Warranty accrued</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">989</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="/* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Utilized</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(237</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="/* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Balance as of December 31, 2013</strong></font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,218</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; /* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Warranty accrued</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">2,193</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="/* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Utilized</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(226</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="/* text-indent: 11pt; */ font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Balance as of December 31, 2014</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">3,185</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> </table> </div> 12850000 11394000 11387000 12000 -7000 69000 1468000 1267000 <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div style="display: block;"> <table style="font: 10pt times new roman, times, serif; margin-top: 0; margin-bottom: 0;" cellpadding="0" cellspacing="0"> <tr style="vertical-align: top; text-align: justify;"> <td style="width: 0.33in; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>20.</b></font></td> <td style="text-align: justify; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>ACCUMULATED OTHER COMPREHENSIVE INCOME</b></font></td> </tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.3pt; text-align: justify; text-indent: -14.3pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The movement of accumulated other comprehensive income is as follows:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div><div style="display: block;"> <div style="display: block;"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="10" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>As of December 31</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2012</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2013</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2014</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 61%;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Beginning balance</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px; width: 1%;"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 1%;"></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">12,850</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">11,394</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">11,387</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Foreign currency translation adjustment</font></td> <td style="font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">12</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(7</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">69</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Reclassification&#160;of&#160;unrealized&#160;gain&#160;on&#160;marketable&#160;equity&#160;securities&#160;into&#160;earnings</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(1,468</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Deferred income received from disposal of a subsidiary</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(1,267</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Ending balance</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>11,394</strong></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>11,387</strong></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong><font>10,189</font></strong></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> </table> </div> </div></div> </div> </div> <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"><div style="display: block;"> <div style="display: block;"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="10" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>As of December 31</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2012</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2013</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2014</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 61%;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Beginning balance</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px; width: 1%;"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 1%;"></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">12,850</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">11,394</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">11,387</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Foreign currency translation adjustment</font></td> <td style="font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">12</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(7</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">69</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Reclassification&#160;of&#160;unrealized&#160;gain&#160;on&#160;marketable&#160;equity&#160;securities&#160;into&#160;earnings</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(1,468</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Deferred income received from disposal of a subsidiary</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(1,267</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Ending balance</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>11,394</strong></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>11,387</strong></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong><font>10,189</font></strong></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> </table> </div> </div></div> 22934000 -6637000 -74000 17156000 -331000 549000 17374000 5154000 -54000 22474000 19640000 <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"><div style="display: block;"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Total&#160;noncontrolling&#160;interests</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="font-family: 'times new roman'; padding: 0px; width: 87%;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Balance as of December 31, 2011</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px; width: 1%;"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">22,934</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Net loss</font></td> <td style="font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(6,637</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Foreign currency translation adjustment</font></td> <td style="font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(74</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Disposal of subsidiary</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">933</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Balance as of December 31, 2012</strong></font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">17,156</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Net loss</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(331</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Foreign currency translation adjustment</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">549</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Balance as of December 31, 2013</strong></font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">17,374</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Net income</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">5,154</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Foreign currency translation adjustment</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(54</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Balance as of December 31, 2014</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong><font>22,474</font></strong></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> </table> </div></div> <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div class="CursorPointer"> <table style="font: 10pt times new roman, times, serif; margin-top: 0; margin-bottom: 0;" cellpadding="0" cellspacing="0"> <tr style="vertical-align: top; text-align: justify;"> <td style="width: 0in;"></td> <td style="width: 0.33in; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>21.</b></font></td> <td style="text-align: justify; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>NONCONTROLLING INTERESTS</b></font></td> </tr> </table> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.3pt; text-align: justify; text-indent: -14.3pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The following table provides the movement of the equity attributable to the noncontrolling interests:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div><div style="display: block;"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';" nowrap="nowrap"></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Total&#160;noncontrolling&#160;interests</strong></font></td> <td nowrap="nowrap" style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="font-family: 'times new roman'; padding: 0px; width: 87%;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Balance as of December 31, 2011</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px; width: 1%;"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">22,934</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Net loss</font></td> <td style="font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(6,637</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Foreign currency translation adjustment</font></td> <td style="font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(74</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Disposal of subsidiary</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">933</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Balance as of December 31, 2012</strong></font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">17,156</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Net loss</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(331</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Foreign currency translation adjustment</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">549</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Balance as of December 31, 2013</strong></font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">17,374</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Net income</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">5,154</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Foreign currency translation adjustment</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(54</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Balance as of December 31, 2014</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong><font>22,474</font></strong></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> </table> </div></div> </div> 1494000 127000 94000 82000 82000 1122000 3001000 2224000 2794000 3001000 7796000 176000 0.35 21952000 4038000 P2Y 33800000 5539000 90800 56500000 1262000 24548000 29171000 P2Y 5047 39100000 5900000 255000 28000 70702000 67276000 -4516000 1285000 66186000 68561000 <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div class="CursorPointer"> <table style="font: 10pt times new roman, times, serif; margin-top: 0; margin-bottom: 0;" cellpadding="0" cellspacing="0"> <tr style="vertical-align: top; text-align: justify;"> <td style="width: 0in;"></td> <td style="width: 0.33in; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>22.</b></font></td> <td style="text-align: justify; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>COMMITMENTS AND CONTINGENCIES</b></font></td> </tr> </table> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.3pt; text-align: justify; text-indent: -14.3pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>(a)&#160;&#160;&#160;&#160;&#160;&#160;Operating lease commitments</i></b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Group entered into various operating lease arrangements with various expiration dates relating to office facilities, corporate apartments and software for research and development. Future minimum lease payments for non-cancelable operating leases as of December 31, 2014 are as follows:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <div style="display: block;"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"> <tr style="vertical-align: bottom;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td colspan="2" style="padding: 0px 10px 0px 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>$</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 87%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2015</font></td> <td style="font-family: 'times new roman'; padding: 0px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,494</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2016</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">127</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2017</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">94</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2018</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">82</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2019</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">82</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Thereafter</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,122</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">3,001</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> </table> </div> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Total rental expenses amounted to $<font>2,224</font>, $<font>2,794</font> and $<font>3,001</font> for the years ended December 31, 2012, 2013 and 2014, respectively.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>(b)&#160;&#160;&#160;&#160;&#160;&#160;Product purchase commitments</i></b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">As of December 31, 2014, the Group had commitments to purchase products from suppliers that had not been recognized in the financial statements in an amount of $<font>7,796</font>, all of which is to be fulfilled within the next year.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>(c)&#160;&#160;&#160;&#160;&#160;&#160;Capital commitments</i></b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">As of December 31, 2014, the Group had commitments to purchase fixed assets that had not been recognized in the financial statements amounting to $<font>176</font> within one year.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Vimicro China had executed an agreement in December 2006 with Beijing Haidian Xinhua Agricultural Industrial&#160;&amp; Commercial Co., or Xinhua Agricultural,&#160;providing that Vimicro China, upon completion of the construction of the office building, shall transfer <font>35</font>% of the total construction area of the same developed property to the original land users as compensation in kind for the expropriation of the land.&#160;<font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 32px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">The Company has been seeking possible alternative development plans such as co-developing with Xinhua Agricultural to reduce costs associated with such property transfer. All those related matters of the proposed project are under the approval process of relevant government. Should the governmental authorities request the Company to modify the project, the land and construction site areas, as well as the total cost for the project, may change. The Company expects to commence construction of the project upon receipt of the land use right certificates for the land.</font></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>(d)&#160;&#160;&#160;&#160;&#160;&#160;Construction in progress</i></b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b><i>&#160;</i></b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In May 2009, Vimicro Tianjin entered into a transfer agreement for land use rights with the Tianjin Municipal Bureau of Land Resources and Housing Management, pursuant to which, in consideration of RMB<font>13.8</font> million, Vimicro Tianjin acquired the land use right for <font>34,418</font> square meters of land in the Tianjin Economic Technology Development Area.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The land will be the site of Vimicro Tianjin's office building and production facilities.&#160;Governmental authorities require Vimicro Tianjin to obtain necessary governmental approvals for the proposed project.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Vimicro Tianjin has commenced the construction of a project for the research, development and production of digital high-definition security and surveillance products and solutions in 2009. The estimated aggregate capital expenditure in connection with the project amounts to $<font>43,000</font>, which the Company expects to finance through the credit facility obtained from the Tianjin Branch of China Construction Bank (note 11) and internal capital resources. As of December 31, 2013 and 2014, the amount&#160;of $<font>19,640</font> and $<font>21,952</font> was capitalized as construction in progress <font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 32px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">related to the construction</font>. And as of December 31, 2014, the Group had commitments to finance the construction of the project that had not been recognized in the financial statements amounting to $<font>4,038</font> within <font>two</font> years. Amounts of construction in progress will be transferred to property and equipment upon the completion of the construction.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In December 2007, Vimicro Jiangsu entered into an agreement with the Administrative Committee of Nanjing Xuzhuang Software Industry Base (&#147;Xuzhuang Committee&#148;) and Nanjing Xuanwu District Management and Investment of State-Owned Assets Holdings (Group) Co., Ltd (&#147;Xuanwu SAMC&#148;), pursuant to which, in consideration of RMB<font>33.8</font> million ($<font>5,539</font>), Vimicro Jiangsu acquired the land use right for <font>90,800</font> square meters of land in Nanjing Xuzhuang Scientific and Technological Headquarters Center.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Vimicro Jiangsu has commenced the construction of a project for the electronic research, development and test base in 2012. The estimated aggregate capital expenditure in connection with the project amounts to $<font>56,500</font>, which the Company expects to finance through internal capital resources. <font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 32px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">As of December&#160;31, 2013 and 2014, the amount</font>&#160;of $<font>1,262</font> and $<font>24,548</font> were capitalized as construction in progress <font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 32px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">related to the construction. And as</font>&#160;of December 31, 2014, the Group had commitments to finance the construction of the project that had not been recognized in the financial statements amounting to $<font>29,171</font> within <font>two</font> years. Amounts of construction in progress will be transferred to property and equipment upon the completion of the construction.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>(e)&#160;&#160;&#160;&#160;&#160;&#160;<i>Contingencies</i></b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><i>Land use rights held by Vimicro Jiangsu</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In December 2007, Vimicro Jiangsu entered into an agreement with Xuzhuang Committee and Xuanwu SAMC. According to the land use right agreements entered by Vimicro Jiangsu, the construction of the proposed research and development center should commence prior to December 31, 2009. In November 2013, Vimicro Jiangsu entered into a supplemental agreement with Nanjing Land Resource Bureau, which agreed the construction date will be no later than May 14, 2014. In June 2012, Vimicro Jiangsu entered into an agreement with the Xuzhuang Committee, whereby the Committee agreed to provide support for Vimicro Jiangsu to further develop the research and development property project on the said land. In December 2012, Vimicro Jiangsu entered into an agreement with Xuanwu SAMC which agreed to purchase an office building to be built on the land for a pre-agreed price upon construction completion. Vimicro Jiangsu had received the land use right certificate in June 2011 and has commenced&#160;<font style="color: #000000; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 32px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important; /* background-color: #fffff0;">construction as of December 31, 2013.</font></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">To fully carry out the plan set out in these agreements, Vimicro Jiangsu needs to reach agreements with, and obtain regulatory consent and approvals from, local regulators, including the conversion of the land-use rights to allow such development activities. The time and procedures for obtaining the above mentioned consents and approvals by the PRC regulatory authority may be subject to significant uncertainty and there is no assurance that Vimicro Jiangsu may receive the approvals, develop the project or otherwise complete the disposal using other options on a timely basis. Vimicro Jiangsu is in discussion with the relevant authorities on the extension of construction. However, the relevant government authorities might deny the request and impose penalties for the construction delay. The potential penalty, if any, cannot be reasonably estimated as of December 31, 2014.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><i>Other contingencies</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In February 2010, Vimicro China entered into an agreement with the Beijing Municipal Bureau of Land and Resources to acquire the land use right for <font>5,047</font> square meters of land from the Beijing local government.&#160; Upon acquisition of the land use rights, Vimicro China will be responsible for its own cost for the land ground work (including the relevant removal and relocation work) and infrastructure construction work (including the relevant construction of access to road, water, electricity, telecommunication, gas,&#160;etc.).&#160; The land will be the site of a new office building, which will become Vimicro China's new headquarters and accommodate a research and development center. The aggregate consideration for the acquisition of the land use rights is RMB<font>39.1</font> million ($<font>5,900</font>).&#160; Pursuant to an agreement entered into in December 2006 between Vimicro China and Xinhua Agricultural Industrial&#160;&amp; Commercial Co., (&#147;Xinhua Agricultural&#148;), the former holder of this land use right, Vimicro China shall transfer 35% of the total construction area of the same developed property to Xinhua Agricultural as compensation in kind for the expropriation of the land upon completion of the construction of the office building. Vimicro China submitted the application to land certificate and expected to obtain before the construction officially commences. The proposed project is subject to governmental approval. Should the governmental authorities request to modify the project, the land and construction site areas, as well as the total cost for the project, may change.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">According to the agreement, the land should have been developed before August 31, 2010. In the event of delay, an application of extension should be submitted. Vimicro China applied for an extension; however, the application remained subject to local government agency approval as of December 31, 2014. It is possible that Vimicro China may be subject to penalties should the local government agency deny the application. The potential penalty, if any, cannot be reasonably estimated as of December 31, 2014.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The construction plan of the office building of Vimicro China indicates that the building will block the sunlight of a kindergarten. It is reasonably possible that Vimicro China will be subject to a claim for compensation by the kindergarten before the government approves the building construction. The potential compensation, if any, cannot be reasonably estimated as of December 31, 2014.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>(f)&#160;&#160;&#160;&#160;&#160;&#160;<i>Litigations</i></b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Company is a party to other litigation matters and claims that are normal in the course of operations, and while the results of such litigation matters and claims cannot be predicted with certainty, management of the Company believes that the final outcome of such matters will not have a material adverse impact on the Company's financial position, results of operations or cash flows.</font></p> </div> <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div style="display: block;"> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;"> <tr style="vertical-align: bottom;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td colspan="2" style="padding: 0px 10px 0px 0px; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'Times New Roman', Times, serif; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; text-align: center;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>$</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 87%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2015</font></td> <td style="font-family: 'times new roman'; padding: 0px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,494</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2016</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">127</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2017</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">94</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2018</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">82</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">2019</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">82</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Thereafter</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,122</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">3,001</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> </table> </div> </div> 50000000 2.50 10.0 20000000 0.163 P1Y 1246000 964000 <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div class="CursorPointer"> <table style="font: 10pt times new roman, times, serif; margin-top: 0; margin-bottom: 0;" cellpadding="0" cellspacing="0"> <tr style="vertical-align: top; text-align: justify;"> <td style="width: 0in;"></td> <td style="width: 0.33in; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>23.</b></font></td> <td style="text-align: justify; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>SUBSEQUENT EVENTS</b></font></td> </tr> </table> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">On February 5, 2015, a stock purchase agreement entered into between the Company and Alpha Spring Limited (" Zongyi"). Zongyi agreed to make a $<font>50</font> million investment in the Company, with a purchase price of $<font>2.50</font> per ordinary share, the equivalent of $<font>10.0</font> per ADS. Immediately after the closing of the transaction, Zongyi would hold <font>20</font> million ordinary shares of Vimicro, approximately <font>16.3</font>% equity ownership of the Company. The ordinary shares would be subject to a <font>one</font>-year lock-up period. Upon closing and subject to the terms and conditions of the stock purchase agreement, the Company would grant customary registration rights to the Investor. The closing of the investment is subject to customary closing conditions.</font></p> </div> 0.10 2782000 4068000 29539000 22797000 29240000 22381000 1727000 32000 53140000 52978000 5519000 1495000 59928000 65753000 5000000 0.0001 500000000 155152737 104014754 155788653 103161018 15000 14000 158384000 154437000 41872088 34095849 15961000 12855000 11387000 10189000 -91667000 -88256000 2782000 4068000 64940000 67597000 66186000 68561000 1638000 1376000 745000 -1638000 -1376000 -745000 1000 1000 12000 1133000 159000 159000 168000 -357000 -1222000 -576000 41000 -398000 -1222000 -576000 -221000 -7196000 5273000 -619000 -8418000 4697000 -619000 -8418000 4697000 12000 -7000 69000 1267000 1468000 -1456000 -7000 -1198000 -2075000 -8425000 3499000 -1413000 -2976000 5825000 -162000 41000 -229000 -297000 440000 -284000 -253000 2153000 -6456000 10410000 5000000 5000000 10410000 5000000 5000000 7396000 6638000 5550000 64000 122000 2982000 -7332000 -6516000 -2568000 2825000 637000 -4024000 2057000 4882000 Yes Non-accelerated Filer 103161018 2014 FY <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <table style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;" cellpadding="0" cellspacing="0"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="6" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>As of December 31</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2013</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td style="text-align: center; font-family: 'times new roman'; padding: 0px; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2014</strong></font><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="text-align: center; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="text-align: center; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="text-align: center; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Assets</strong></font></td> <td style="font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px;"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Current assets:</font></td> <td style="font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px;"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; text-indent: 0px; font-family: 'times new roman'; padding: 0px; width: 74%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Cash and cash equivalents</font></td> <td style="font-family: 'times new roman'; padding: 0px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">5,519</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,495</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Amounts due from subsidiaries</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">59,928</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">65,753</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Amounts due from related party</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">5,000</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Prepayments and other current assets, net</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">255</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">28</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Total current assets</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">70,702</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">67,276</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Investment in subsidiaries</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(4,516</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,285</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Total assets</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">66,186</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">68,561</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Liabilities and shareholders' equity</strong></font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Current liabilities:</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Accrued expenses and other current liabilities</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,246</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">964</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Shareholders' equity:</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Ordinary shares, $<font>0.0001</font> par value, <font>500,000,000</font> shares authorized, <font>155,152,737</font> shares issued and <font>104,014,754</font> shares outstanding as of December 31, 2013 and <font>155,788,653</font> shares issued and <font>103,161,018</font> shares outstanding as of December 31, 2014</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">15</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">14</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Additional paid-in capital</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">158,384</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">154,437</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Treasury stock at cost, <font>41,872,088</font> shares as of December 31, 2013 and <font>34,095,849</font> shares as of December 31, 2014</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(15,961</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(12,855</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Accumulated other comprehensive Income</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">11,387</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">10,189</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Accumulated deficit</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(91,667</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(88,256</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Statutory reserve</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">2,782</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">4,068</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Total shareholders' equity</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">64,940</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">67,597</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Total liabilities and shareholders' equity</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">66,186</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">68,561</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> </div> <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"><div style="display: block;"> <table style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;" cellpadding="0" cellspacing="0"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="10" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Years ended December 31</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2012</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2013</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2014</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Operating expenses:</font></td> <td style="font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px;"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 61%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Research and development, net</font></td> <td style="font-family: 'Times New Roman'; width: 1%;"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 1%;"></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Selling and marketing</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">General and administrative</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(1,638</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(1,376</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(745</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Loss from operations</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(1,638</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(1,376</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(745</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Other income:</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Interest income</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><br/></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Interest expense</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(12</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><font>(5</font></font><font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>-</font><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Gain on disposal of subsidiary</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,133</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Others, net</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">159</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">159</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">168</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Loss before income taxes</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(357</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(1,222</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(576</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Income tax expense</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(41</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Loss before share of net loss of subsidiaries</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(398</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(1,222</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(576</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Share of net (loss)/income of subsidiaries</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(221</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(7,196</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">5,273</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Net (loss)/income</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(619</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(8,418</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">4,697</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Net (loss)/income attributable to ordinary shareholders</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(619</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(8,418</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">4,697</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Other comprehensive income/(loss):</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Foreign currency translation adjustment</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">12</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(7</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">69</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Deferred income received from disposal of a subsidiary</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(1,267</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Reclassification of foreign currency translation adjustment into earnings due to disposal of a subsidiary, net of taxes</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(1,468</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Total other comprehensive loss</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(1,456</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(7</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(1,198</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Total comprehensive (loss)/income</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(2,075</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(8,425</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">3,499</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> </div></div> <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div style="display: block;"> <div class="CursorPointer"> <table style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;" cellpadding="0" cellspacing="0"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="10" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Years ended as of December 31</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2012</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2013</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2014</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Cash flows from operating activities:</font></td> <td style="font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px;"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 61%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Net (loss)/income</font></td> <td style="font-family: 'times new roman'; padding: 0px; width: 1%;"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 1%;"></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(619</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(8,418</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">4,697</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Adjustments to reconcile net loss to net cash used in operating activities:</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Share of net loss/(income)&#160;of subsidiaries</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">221</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">7,196</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(5,273</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Gain on disposal of subsidiary</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(1,133</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Changes in assets and liabilities:</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Amounts due from subsidiaries</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,413</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">2,976</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(5,825</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Prepayments and other current assets</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">162</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(41</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">229</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Accrued expenses and other current liabilities</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(297</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">440</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(284</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Net cash (used in)/provided by operating activities</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(253</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">2,153</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(6,456</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Cash flows from investing activities:</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Proceeds from disposal of subsidiaries</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">10,410</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">5,000</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">5,000</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Net cash provided by investing activities</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">10,410</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">5,000</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">5,000</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Cash flows from financing activities:</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Repurchase of shares</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(7,396</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(6,638</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(5,550</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Proceeds from exercise of share options</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">64</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">122</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">2,982</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Net cash used in financing activities</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(7,332</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(6,516</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(2,568</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Net increase/(decrease) in cash and cash equivalents</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">2,825</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">637</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(4,024</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Cash and cash equivalents at beginning of year</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">2,057</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">4,882</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">5,519</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Cash and cash equivalents at end of year</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">4,882</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">5,519</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,495</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> </table> </div> </div> </div> <div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';"> <div class="CursorPointer"> <table style="font: 10pt times new roman, times, serif; margin-top: 0; margin-bottom: 0;" cellpadding="0" cellspacing="0"> <tr style="vertical-align: top; text-align: justify;"> <td style="width: 0in;"></td> <td style="width: 0.33in; text-align: left; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>24.</b></font></td> <td style="text-align: justify; font-family: 'times new roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>CONDENSED FINANCIAL INFORMATION OF THE COMPANY</b></font></td> </tr> </table> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">As of December 31, 2013 and 2014, the restricted net assets held by the Group's consolidated PRC subsidiaries and VIE exceeded 25% of the Group's consolidated net assets.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The separate condensed financial statements of the Company as presented below have been prepared in accordance with Securities and Exchange Commission Regulation S-X Rule 5-04 and Rule 12-04 and present the Company's investments in its subsidiaries under the equity method of accounting as prescribed in ASC 323,<i> The Equity Method of Accounting for Investments in Common Stock</i> &#160; (&#147;ASC 323&#148;). Such investment is presented as &#147;Investment in subsidiaries&#148; on the separate condensed balance sheets of the Company and share of its subsidiaries' losses as &#147;Share of net loss of subsidiaries&#148; on the separate condensed statements of comprehensive loss of the Company.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Certain information and footnote disclosures normally included in financial statements prepared in accordance with US&#160;GAAP have been condensed and omitted. The footnote disclosures contain supplemental information relating to the operations of the Company, as such, these statements should be read in conjunction with the notes to the consolidated financial statements of the Company.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Company did not have significant capital and other commitments, long-term obligations, or guarantees as of December 31, 2013 and 2014.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Regulations in the PRC permit payments of dividends by the Company's PRC subsidiaries only out of their retained earnings, if any, as determined in accordance with PRC accounting standards and regulations. Subject to certain cumulative limits, a statutory reserve fund requires annual appropriations of at least <font>10</font>% of after-tax profit, if any, of the relevant PRC subsidiary. The statutory reserve funds are not distributable as cash dividends. As a result of these PRC laws and regulations, the Company's PRC subsidiaries are restricted in their abilities to transfer a portion of their net assets to the Company. As of December 31, 2013 and 2014, the balance of the Company's PRC subsidiaries' statutory reserves was $<font>2,782</font> and $<font>4,068</font>, respectively.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Foreign exchange and other regulation in the PRC may further restrict the Company's PRC subsidiaries from transferring funds to the Company in the form of dividends, loans and advances. The Company has&#160;$<font>29,539</font> and $<font>22,797</font> of cash and bank deposits in the PRC as of December 31, 2013 and 2014, respectively, of which $<font>29,240</font> and $<font>22,381</font> are denominated in RMB as of December 31, 2013 and 2014 respectively. The Company's PRC subsidiaries had restricted cash of $<font>1,727</font> and $<font>32</font> as of December 31, 2013 and 2014, respectively, which was denominated in RMB.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">In addition, the registered capital of the Company's PRC subsidiaries is also restricted.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;">The Company had restricted net assets of&#160;$<font>53,140</font> and $<font>52,978</font> as of December 31, 2013 and 2014, respectively.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>BALANCE SHEETS</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><i>(Amounts expressed in thousands of U.S. dollars, except number of shares and per share data)</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <table style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;" cellpadding="0" cellspacing="0"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="6" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>As of December 31</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2013</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td style="text-align: center; font-family: 'times new roman'; padding: 0px; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" colspan="2"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2014</strong></font><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="text-align: center; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="text-align: center; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="text-align: center; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Assets</strong></font></td> <td style="font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px;"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Current assets:</font></td> <td style="font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px;"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; text-indent: 0px; font-family: 'times new roman'; padding: 0px; width: 74%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Cash and cash equivalents</font></td> <td style="font-family: 'times new roman'; padding: 0px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">5,519</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,495</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Amounts due from subsidiaries</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">59,928</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">65,753</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Amounts due from related party</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">5,000</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Prepayments and other current assets, net</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">255</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">28</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Total current assets</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">70,702</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">67,276</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Investment in subsidiaries</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(4,516</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,285</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Total assets</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">66,186</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">68,561</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Liabilities and shareholders' equity</strong></font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Current liabilities:</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Accrued expenses and other current liabilities</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,246</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">964</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Shareholders' equity:</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Ordinary shares, $<font>0.0001</font> par value, <font>500,000,000</font> shares authorized, <font>155,152,737</font> shares issued and <font>104,014,754</font> shares outstanding as of December 31, 2013 and <font>155,788,653</font> shares issued and <font>103,161,018</font> shares outstanding as of December 31, 2014</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">15</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">14</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Additional paid-in capital</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">158,384</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">154,437</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Treasury stock at cost, <font>41,872,088</font> shares as of December 31, 2013 and <font>34,095,849</font> shares as of December 31, 2014</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(15,961</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(12,855</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Accumulated other comprehensive Income</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">11,387</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">10,189</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Accumulated deficit</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(91,667</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(88,256</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Statutory reserve</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">2,782</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">4,068</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Total shareholders' equity</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">64,940</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">67,597</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; text-indent: 0px; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Total liabilities and shareholders' equity</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">66,186</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">68,561</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> </div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 9.9pt; text-align: justify; text-indent: 14.3pt;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>STATEMENTS OF COMPREHENSIVE&#160;INCOME/(LOSS)</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><i>(Amounts expressed in thousands of U.S. dollars, except number of shares and per share data)</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div><div style="display: block;"> <table style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;" cellpadding="0" cellspacing="0"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="10" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Years ended December 31</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2012</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2013</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2014</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Operating expenses:</font></td> <td style="font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px;"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 61%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Research and development, net</font></td> <td style="font-family: 'Times New Roman'; width: 1%;"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 1%;"></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Selling and marketing</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">General and administrative</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(1,638</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(1,376</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(745</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Loss from operations</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(1,638</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(1,376</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(745</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Other income:</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Interest income</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><br/></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Interest expense</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(12</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-size: 10pt; font-family: 'times new roman', times;"><font>(5</font></font><font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>-</font><font style="font-family: 'times new roman', times; font-size: 10pt;"></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Gain on disposal of subsidiary</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,133</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Others, net</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">159</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">159</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">168</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Loss before income taxes</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(357</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(1,222</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(576</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Income tax expense</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(41</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Loss before share of net loss of subsidiaries</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(398</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(1,222</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(576</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Share of net (loss)/income of subsidiaries</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(221</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(7,196</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">5,273</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Net (loss)/income</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(619</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(8,418</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">4,697</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Net (loss)/income attributable to ordinary shareholders</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(619</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(8,418</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">4,697</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Other comprehensive income/(loss):</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Foreign currency translation adjustment</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">12</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(7</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">69</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Deferred income received from disposal of a subsidiary</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(1,267</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Reclassification of foreign currency translation adjustment into earnings due to disposal of a subsidiary, net of taxes</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(1,468</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Total other comprehensive loss</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(1,456</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(7</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(1,198</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Total comprehensive (loss)/income</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(2,075</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(8,425</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">3,499</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> </div></div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><b>STATEMENTS OF CASH FLOWS</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><i>(Amounts expressed in thousands of U.S. dollars, except number of shares and per share data)</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></p> <div> <div style="display: block;"> <div class="CursorPointer"> <table style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;" cellpadding="0" cellspacing="0"> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="10" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;" nowrap="nowrap"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>Years ended as of December 31</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: 'Times New Roman';"></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2012</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong> </strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2013</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> <td colspan="2" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>2014</strong></font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;"><strong>&#160;</strong></font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Cash flows from operating activities:</font></td> <td style="font-family: 'Times New Roman';"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px;"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 61%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Net (loss)/income</font></td> <td style="font-family: 'times new roman'; padding: 0px; width: 1%;"></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 1%;"></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(619</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(8,418</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">4,697</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 1%;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Adjustments to reconcile net loss to net cash used in operating activities:</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Share of net loss/(income)&#160;of subsidiaries</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">221</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">7,196</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(5,273</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Gain on disposal of subsidiary</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(1,133</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">-</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Changes in assets and liabilities:</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Amounts due from subsidiaries</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,413</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">2,976</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(5,825</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Prepayments and other current assets</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">162</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(41</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">229</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Accrued expenses and other current liabilities</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(297</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">440</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(284</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Net cash (used in)/provided by operating activities</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(253</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">2,153</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(6,456</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Cash flows from investing activities:</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Proceeds from disposal of subsidiaries</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">10,410</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">5,000</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">5,000</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Net cash provided by investing activities</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">10,410</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">5,000</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">5,000</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Cash flows from financing activities:</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">Repurchase of shares</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(7,396</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(6,638</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(5,550</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Proceeds from exercise of share options</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">64</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">122</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">2,982</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Net cash used in financing activities</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(7,332</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(6,516</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(2,568</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Net increase/(decrease) in cash and cash equivalents</font></td> <td style="font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">2,825</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">637</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">(4,024</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">)</font></td> </tr> <tr style="vertical-align: bottom; background-color: #cceeff;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Cash and cash equivalents at beginning of year</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">2,057</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">4,882</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">5,519</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">Cash and cash equivalents at end of year</font></td> <td style="font-family: 'times new roman'; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">4,882</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">5,519</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> <td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-family: 'times new roman', times; font-size: 10pt;">1,495</font></font></td> <td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-family: 'times new roman', times; font-size: 10pt;">&#160;</font></td> </tr> </table> </div> </div> </div> </div> 0.0001 500000000 5000 Vimicro International CORP 0001341088 20-F 2014-12-31 false --12-31 No No The difference of revenue recognition point between the Company and Zhongtianxin, the Company eliminated its intra-entity of 51% interest in the voting common stock of Zhongtianxin. The risk-free interest rate is based on the United States Treasury Bill for a term of 1, 5 or 7 years which is consistent with the expected life of the awards. The Company calculates the expected life of share options based on its employees' historical experience. The Company currently has no history or expectation of paying dividends on its ordinary shares. The Company estimated volatility based on the historical volatilities of the Company. The risk-free interest rate is based on the United States Treasury Bill for a term of 5 years consistent with the expected life of the awards. The Company uses a vesting term of 5 years as the expected life of share options, except for performance based options which had an exercise price of $0.0001 and a 1 year vesting term period based on historical experience. The Company estimated volatility based on the historical volatilities of the Company. The intersegment eliminations represented products sold between Vimicro Tianjin and Vimicro China in the year ended December 31, 2012. Video surveillance solution business segment revenues have been impacted by intersegment transactions that are eliminated in consolidation. The intersegment eliminations represented products sold between Vimicro Tianjin and Vimicro China in the year ended December 31, 2013. Video processor business and video surveillance solution business segment revenues have been impacted by intersegment transactions that are eliminated in consolidation. The intersegment eliminations represented products sold between Vimicro Tianjin and Vimicro China in the year ended December 31, 2014. Video processor business and video surveillance solution business segment revenues have been impacted by intersegment transactions that are eliminated in consolidation.