Tudou Reports Second Quarter 2012 Financial Results

             Tudou Reports Second Quarter 2012 Financial Results

2Q 2012 Net Revenues of RMB171.9 Million, Up 47.3% Year-over-Year

PR Newswire

SHANGHAI, Aug. 5, 2012

SHANGHAI, Aug. 5, 2012 /PRNewswire-Asia/ --Tudou Holdings Limited (NASDAQ:
TUDO) ("Tudou" or the "Company"), a leading Internet video company in China,
today announced its unaudited financial results for the second quarter ended
June 30, 2012.

Second Quarter 2012 Revenue Highlights

  oNet revenues increased to RMB171.9 million (US$27.1 million), up 47.3%
    year-over-year.
  oOnline advertising service revenues increased to RMB150.7 million (US$23.7
    million), up 47.4% year-over-year.
  oMobile video service revenues increased to RMB16.7 million (US$2.6
    million), up 50.6% year-over-year.
  oOther (sub-licensing) revenues increased to RMB4.5 million (US$0.7
    million), up 34.2% year-over-year.

Second Quarter 2012 Financial Results

Revenues: Net revenues for the second quarter 2012 increased by 47.3% to
RMB171.9 million (US$27.1 million) from RMB116.7 million in the corresponding
period in 2011, driven by increases in online advertising service revenues,
mobile video service revenues and other (sub-licensing) revenues.[1] Online
advertising service revenues for the second quarter 2012 increased by 47.4% to
RMB150.7 million (US$23.7 million) from RMB102.2 million in the corresponding
period in 2011. Mobile video service revenues for the second quarter 2012
increased by 50.6% to RMB16.7 million (US$2.6 million) from RMB11.1 million in
the corresponding period in 2011. Other (sub-licensing) revenues increased by
34.2% to RMB4.5 million (US$0.7 million) from RMB3.4 million in the
corresponding period in 2011.

Cost of Revenues: Cost of revenues for the second quarter 2012 increased by
123.2% to RMB191.0 million (US$30.1 million) from RMB85.6 million in the
corresponding period in 2011, partially offset by a RMB12.7 million decrease
in share-based compensation expenses. The increase in cost of revenues was
primarily attributable to increased Internet bandwidth costs, content costs
and mobile video services costs. Internet bandwidth costs for the second
quarter 2012 totaled RMB65.1 million (US$10.2 million), compared to RMB34.5
million in the corresponding period in 2011. The increase in Internet
bandwidth costs was primarily due to increased traffic on the Company's
website and its continued focus on enhancing users' experience. Content costs
for the second quarter 2012 totaled RMB100.5 million (US$15.8 million),
compared to RMB35.7 million in the corresponding period in 2011. Content
costs consist of amortization of premium licensed content, salaries and
benefits for staff and production costs for content produced in-house. The
increase in content costs was primarily due to the increase in amortization of
premium licensed content and content produced in-house as a result of an
increase in the amount of content purchased and produced. Mobile video service
costs for the second quarter 2012 totaled RMB12.3 million (US$1.9 million),
compared to RMB5.8 million, in the corresponding period in 2011. The increase
in mobile video services costs was primarily attributable to the increase in
mobile video services revenues.

Gross Loss: For the second quarter 2012, gross loss totaled RMB19.2 million
(US$3.0 million), compared to gross profit of RMB31.1 million in the
corresponding period in 2011.

Operating Expenses: Operating expenses for the second quarter 2012 were
RMB135.8 million (US$21.4 million), compared to RMB86.7 million in the
corresponding period in 2011. The increase was primarily due to merger
related expenses of RMB23.7 million (US $3.7 million) resulting from the
Company's pending transaction with Youku, Inc. (NYSE: YOKU) ("Youku") and an
increase in sales and marketing expenses, mainly as a result of the Company's
hiring of additional sales professionals and enhanced promotion and marketing
efforts.

Net Loss: Net loss for the second quarter 2012 increased to RMB154.7 million
(US$24.4 million) from a net loss of RMB78.9 million in the corresponding
period in 2011.

Adjusted Net Loss: Adjusted net loss for the second quarter 2012, which
excluded share-based compensation expenses, was RMB144.8 million (US$22.8
million), compared to an adjusted net loss of RMB37.2 million in the
corresponding period in 2011, which excluded share-based compensation expenses
and fair value changes in warrant liabilities. See "Non-GAAP Financial
Measures" and "Adjusted Net Loss – Non-GAAP Reconciliation" below.

Recent Developments

In July 2012, Tudou announced it will hold its 2012 annual general meeting of
shareholders on the 18th Floor, One Exchange Square, 8 Connaught Place,
Central, Hong Kong on Monday, August 20, 2012 at 10:00 a.m. (Hong Kong time),
to consider and vote on, among other things, the proposal to approve the
pending merger with Youku announced on March 11, 2012. The notice of the
annual general meeting of shareholders and joint proxy statement can be
obtained from the Company's investor relations website (http://ir.tudou.com)
and the Company's filings with the Securities and Exchange Commission
(http://www.sec.gov).

In July 2012, Tudou announced that Ms. Evelyn Wang tendered resignation from
her position as Chief Operating Officer due to personal reasons. Ms. Wang will
continue to assist the Company throughout the ongoing merger process with
Youku, which remains on track to close during the third quarter of 2012,
subject to closing conditions including approvals by Youku's and Tudou's
shareholders.

In June 2012, Tudou held the awards ceremony for the 2012 Tudou Video Festival
in Chengde, China. This was Tudou's 5th annual video festival and was
co-hosted with the China Film Group Corporation, the largest film enterprise
in China. With the slogan Be Creative and Live, this year's festival
attracted over 15,000 video submissions, including submissions from a talented
group of 200 video finalists that competed for 15 grand prizes. Over 1,500
producers, directors, writers, studio representatives and advertisers attended
the event in anticipation of the opportunity to work with the creators of the
winning submissions.

Conference Call

Due to the pending merger with Youku, Tudou will not hold a conference call to
discuss its financial results.

About Tudou

Tudou Holdings Limited (NASDAQ: TUDO) is a leading Internet video company in
China providing premium licensed content, user generated content ("UGC") and
original in-house produced content. Founded in 2005, Tudou was the first UGC
video sharing website launched in China. The "Tudou" brand is one of the most
recognized Internet brands in China, and the annual Tudou Video Festival has
become a signature event in the online video industry. For more information,
please visit http://ir.tudou.com.

SOURCE: Tudou

Safe Harbor Statement

This press release contains forward-looking statements made under the "safe
harbor" provisions of Section 21E of the Securities Exchange Act of 1934, as
amended. These forward-looking statements can be identified by terminology
such as "may," "will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "aims," "estimates," "confident," "likely to" and similar
statements. Forward-looking statements involve inherent risks and
uncertainties. A number of factors could cause actual results to differ
materially from those contained in any forward-looking statement, including
but not limited to the following: the Company's ability to execute its
business strategies, plans and initiatives; the Company's future business
development, results of operations and financial condition; changes in the
Company's revenues and certain cost or expense items; the Company's
expectations with respect to increased revenue growth and its ability to
sustain profitability; the Company's ability to develop new services; the
Company's ability to attract users and advertisers and enhance its brand
recognition; the ability of the online video and advertising industry in
China to grow at rates projected by market data; and ability of the Company to
timely close its pending merger with Youku. Any of the foregoing risks may
have a material adverse effect on the Company's business and the market price
of its ADSs. Further information regarding these and other risks is included
in the Company's 20-F filed with the Securities and Exchange Commission on
March 30, 2012. All information provided in this press release is current as
of the date of the press release, and the Company undertakes no duty to update
such information, except as required under applicable law.

Non-GAAP Financial Measures

The Company defines adjusted net income (loss), a non-GAAP financial measure,
as net income (loss) excluding share-based compensation expenses and fair
value changes in warrant liabilities. The Company reviews adjusted net income
(loss) together with net income (loss) to obtain a better understanding of its
operating performance. The Company believes it is useful supplemental
information for investors and other interested persons to assess the Company's
operating performance without the effect of non-cash fair value changes in
warrant liabilities, which would not likely be a recurring factor in its
business in the future, and share-based compensation expenses, which have been
and continue to be a significant recurring factor in our business.

The Company presents its non-GAAP financial measure because management uses it
to evaluate the Company's operating performance. The Company believes that
non-GAAP financial measure provides useful information to investors and other
interested persons because by having access to such information they will have
the same data the Company uses to assess its operating performance. In
addition, this information allows investors and other interested persons to
understand and evaluate the Company's consolidated results of operations in
the same manner as management and to make period-over-period comparisons of
its financial results. However, the use of adjusted net income (loss) has
material limitations as an analytical tool. One of the limitations of using
non-GAAP adjusted net income (loss) is that it does not include all items that
impact the Company's net income (loss) for the period. In addition, because
companies may not calculate adjusted net income (loss) in the same manner, it
may not be comparable to similarly titled measures used by other companies. In
light of the foregoing limitations, you should not consider adjusted net
income (loss) in isolation from or as an alternative to net income (loss)
prepared in accordance with U.S. GAAP. The Company encourages investors and
other interested persons to review the Company's financial information in its
entirety and not rely on a single financial measure.

Exchange Rate

This press release contains translations of certain Renminbi amounts into US
dollars at specified rates solely for the convenience of readers. Unless
otherwise noted, all translations from Renminbi to US dollars for the quarter
ended June 30, 2012 were made at a rate of RMB6.3530 to US$1.00, the noon
buying rate in effect on June 29, 2012 as set forth in the weekly H.10
statistical release of the U.S. Federal Reserve Board. No representation is
made that any Renminbi or U.S. dollar amounts could have been, or could be,
converted into U.S. dollars or Renminbi, as the case may be, at such rate.

[1] The Company records revenues on a net basis and presents net revenues net
of third party advertising agency fees and sales tax as a reduction of
revenues. For the second quarter 2012, third party advertising agency fees
were RMB32.3 million (US$5.1 million) and sales tax was RMB7.4 million (US$1.2
million), compared to third party advertising agency fees of RMB23.6 million
and sales tax of RMB14.6 million in the corresponding period in 2011.



Tudou Holdings Limited
Consolidated Balance Sheet Information
(Amounts expressed in RMB, unless otherwise stated)
                 Jun 30, 2011    Mar 31, 2012    Jun 30, 2012    Jun 30, 2012
                 (unaudited)     (unaudited)     (unaudited)     (unaudited)
                 RMB             RMB             RMB             US$
Assets
Current assets:
Cash and cash    135,769,594     695,746,338     516,192,285     81,251,737
equivalents
Restricted cash  78,629,940      96,685,338      50,599,200      7,964,615
Accounts         259,354,944     256,602,540     316,334,475     49,792,929
receivable, net
Prepayments and
other current    34,481,051      15,347,958      12,694,496      1,998,189
assets
Premium content  18,720,530      47,551,257      40,316,868      6,346,115
licensed
Content produced                 695,922         176,761         27,823
Total current    526,956,059     1,112,629,353   936,314,085     147,381,408
assets
Equipment        66,825,250      93,393,641      94,764,562      14,916,506
Intangible       4,696,093       5,973,504       6,467,861       1,018,080
assets
Other assets     4,282,679       4,175,908       -               -
Other long-term                  10,000,000      10,000,000      1,574,059
receivables
Prepayment for
premium content                  166,091,005     181,731,422     28,605,607
licensed
Premium content  59,980,909      200,466,206     235,529,108     37,073,683
licensed
Total assets     662,740,990     1,592,729,617   1,464,807,038   230,569,343
Liabilities and
shareholders'
equity
Current
liabilities:
Accounts payable 76,297,318      163,179,211     188,110,362     29,609,690
Taxes payable    25,456,201      28,491,533      25,241,179      3,973,112
Accrued
liabilities and  170,319,316     225,563,977     243,956,753     38,400,245
other payables
Short-term loan  72,343,510      83,343,510      41,543,510      6,539,196
Share-based
compensation     263,420,394     -               -               -
liability
Total current    607,836,739     500,578,231     498,851,804     78,522,243
liabilities
Warrant          343,404,204     -               -               -
liabilities
Total            951,240,943     500,578,231     498,851,804     78,522,243
liabilities
Series A
redeemable       7,617,308       -               -               -
convertible
preferred shares
Series B
redeemable       55,008,503      -               -               -
convertible
preferred shares
Series C
redeemable       122,960,400     -               -               -
convertible
preferred shares
Series D
redeemable       367,586,880     -               -               -
convertible
preferred shares
Series E
redeemable       378,063,467     -               -               -
convertible
preferred shares
Shareholders'
equity
Ordinary shares  9,700           74,907          76,747          12,080
Additional       11,054,330      2,554,379,616   2,582,926,377   406,567,980
paid-in capital
Accumulated      (1,230,800,541) (1,462,303,137) (1,617,047,890) (254,532,960)
deficit
Total
shareholders'    (1,219,736,511) 1,092,151,386   965,955,234     152,047,100
equity
                                                                 -
Total
liabilities and  662,740,990     1,592,729,617   1,464,807,038   230,569,343
shareholders'
equity



Tudou Holdings Limited
Consolidated Statement of Operations Information
(Amounts expressed in RMB, unless otherwise stated)


               For the Three Months Ended                             For the Six Months Ended
               Jun 30,      Mar 31,      Jun 30,      Jun 30,       June 30,     June 30,     June 30,
               2011         2012         2012         2012          2011         2012         2012
               (unaudited) (unaudited) (unaudited) (unaudited)  (unaudited) (unaudited) (unaudited)
               RMB         RMB         RMB         US$          RMB         RMB         US$
Revenues       131,307,230   145,856,999   179,264,317   28,217,270     222,725,998   325,121,316   51,176,030
Less: Sales    (14,635,680)  (5,575,694)   (7,403,565)   (1,165,365)    (26,677,477)  (12,979,259)  (2,043,013)
taxes
Net revenues   116,671,550   140,281,305   171,860,752   27,051,905     196,048,521   312,142,057   49,133,017
Cost of        (85,577,861)  (179,632,865) (191,026,368) (30,068,687)   (166,573,691) (370,659,233) (58,343,969)
revenues
Gross profit / 31,093,689    (39,351,560)  (19,165,616)  (3,016,782)    29,474,830    (58,517,176)  (9,210,952)
(loss)
Operating
expenses:
Sales and
marketing      (55,679,672)  (68,808,006)  (84,959,552)  (13,373,139)   (132,063,602) (153,767,558) (24,203,928)
expenses
General and
administrative (31,029,507)  (24,527,517)  (50,870,494)  (8,007,318)    (114,917,061) (75,398,011)  (11,868,096)
expenses
Total
operating      (86,709,179)  (93,335,523)  (135,830,046) (21,380,457)   (246,980,663) (229,165,569) (36,072,024)
expenses
Loss from      (55,615,490)  (132,687,083) (154,995,662) (24,397,239)   (217,505,833) (287,682,745) (45,282,976)
operations
Finance income 76,330        639,483       563,307       88,668         152,987       1,202,790     189,326
Finance        (1,090,078)   (1,517,576)   (973,768)     (153,277)      (1,957,240)   (2,491,344)   (392,152)
expense
Other income / (119,253)     -             (168,525)     (26,527)       (119,253)     (168,525)     (26,527)
(expense), net
Foreign
exchange gain  (3,135,290)   (893,968)     829,895       130,630        (6,049,673)   (64,073)      (10,085)
/ (loss)
Fair value
change in      (18,979,502)  -                           -              (189,364,593) -             -
warrant
liabilities
Loss before    (78,863,283)  (134,459,144) (154,744,753) (24,357,745)   (414,843,605) (289,203,897) (45,522,414)
income taxes
Income taxes   -             -             -             -              -             -             -
Net loss       (78,863,283)  (134,459,144) (154,744,753) (24,357,745)   (414,843,605) (289,203,897) (45,522,414)
Accretion and
effect of
foreign
exchange       (105,067)     -             -             -              (236,052)     -             -
movement on
Series A
Preferred
Shares
Effect of
foreign
exchange
movement on    720,799       -             -             -              1,284,348     -             -
Series B
Preferred
Shares
Effect of
foreign
exchange
movement on    1,611,200     -             -             -              2,870,900     -             -
Series C
Preferred
Shares
Effect of
foreign
exchange
movement on    4,816,640     -             -             -              8,582,480     -             -
Series D
Preferred
Shares
Accretion and
effect of
foreign
exchange       (16,505,338)  -             -             -              (26,661,338)  -             -
movement on
Series E
Preferred
Shares
Net loss
attributable   (88,325,049)  (134,459,144) (154,744,753) (24,357,745)   (429,003,267) (289,203,897) (45,522,414)
to ordinary
shareholders
Loss per
ordinary share
- Basic and    (7.36)        (1.19)        (1.34)        (0.21)         (35.75)       (2.52)        (0.40)
diluted
Loss per ADS
- Basic and    (29.44)       (4.74)        (5.34)        (0.84)         (143.00)      (10.09)       (1.59)
diluted
Weighted
average number
of ordinary
shares used in
computing loss
per share
- Basic and    12,000,000    113,431,544   115,853,225   115,853,225    12,000,000    114,653,268   114,653,268
diluted
Share-based
compensation
was allocated
in operating
expenses as
follows:
Cost of        3,038,064     1,379,365     1,372,659     216,064        17,756,069    2,752,024     433,185
revenues
Sales and
marketing      9,803,139     5,404,764     4,744,666     746,839        44,851,797    10,149,430    1,597,581
expenses
General and
administrative 9,809,598     3,430,954     3,827,077     602,405        66,659,181    7,258,031     1,142,457
expenses





Tudou Holdings Limited
Adjusted Net Loss — Non-GAAP Reconciliation
(Amounts expressed in RMB, unless otherwise stated)
                      For the Three Months Ended                             For the Six Months Ended
                      Jun 30,      Mar 31,      Jun 30,      Jun 30,       June 30,     June 30,     June 30,
                      2011         2012         2012         2012          2011         2012         2012
                      (unaudited) (unaudited) (unaudited) (unaudited)  (unaudited) (unaudited) (unaudited)
                      RMB         RMB         RMB         US$          RMB         RMB         US$
Net loss              (78,863,283)  (134,459,144) (154,744,753) (24,357,745)   (414,843,605) (289,203,897) (45,522,414)
Add      Share-based
back:    compensation 22,650,801    10,215,083    9,944,402     1,565,308      129,267,047   20,159,485    3,173,223
         expenses
         Fair value
         changes in   18,979,502    -             -             -              189,364,593   -             -
         warrant
         liabilities
Adjusted              (37,232,980)  (124,244,061) (144,800,351) (22,792,437)   (96,211,965)  (269,044,412) (42,349,191)
net loss



Tudou Holdings Limited
Consolidated Statement of Cash Flows
(Amounts expressed in RMB, unless otherwise stated)


                    For the Three Months Ended                             For the Six Months Ended
                    Jun 30,      Mar 31,      Jun 30,      Jun 30,       June 30,     June 30,     June 30,
                    2011         2012         2012         2012          2011         2012         2012
                    (unaudited) (unaudited) (unaudited) (unaudited)  (unaudited) (unaudited) (unaudited)
                    RMB         RMB         RMB         US$          RMB         RMB         US$
Cash flows from
operating
activities:
Net loss            (78,863,283)  (134,459,144) (154,744,753) (24,357,745)   (414,843,605) (289,203,897) (45,522,414)
Adjustments to
reconcile net loss
to net cash         -             -             -             -              -             -             -
provided by (used
in) operating
activities:
Depreciation of     6,734,331     9,637,685     10,277,833    1,617,792      12,867,612    19,915,518    3,134,821
equipment
Amortization of     50,405        209,660       255,793       40,263         58,255        465,453       73,265
intangible assets
Amortization of     35,590        35,590        -             -              71,180        35,590        5,602
other assets
Provision for       4,085,033     2,643,383     2,807,208     441,871        16,368,108    5,450,591     857,955
doubtful accounts
Amortization of the
premium content     18,124,644    50,863,964    57,165,796    8,998,236      28,140,551    108,029,760   17,004,527
licensed
Amortization of the 3,497,227     12,728,947    2,790,348     439,217        6,562,500     15,519,295    2,442,829
content produced
Share-based         22,650,802    10,215,083    9,944,403     1,565,308      129,267,046   20,159,486    3,173,223
compensation
Fair value changes
in warrant          18,979,502    -             -             -              189,364,593   -             -
liabilities
Loss from disposal  -             -             181,908       28,633         -             181,908       28,633
of other assets
Foreign exchange    3,135,290     893,968       (829,895)     (130,630)      6,049,673     64,073        10,085
loss
Changes in
operating assets
and liabilities:
Accounts            (9,304,512)   (19,441,737)  (62,539,143)  (9,844,033)    (32,689,703)  (81,980,880)  (12,904,278)
receivables
Prepayments and
other current       (2,242,691)   4,835,969     4,289,096     675,129        2,900,427     9,125,065     1,436,340
assets
Content produced    -             (5,210,362)   (2,271,187)   (357,498)      -             (7,481,549)   (1,177,640)
Accounts payable    (2,172,159)   6,636,811     10,506,166    1,653,733      (1,343,849)   17,142,977    2,698,407
Tax payable         3,005,534     (9,149,133)   (3,250,354)   (511,625)      4,297,529     (12,399,487)  (1,951,753)
Other payables and  9,368,177     (5,200,531)   18,392,777    2,895,136      27,373,497    13,192,246    2,076,538
accruals
Net cash provided
by/(used in)        (2,916,110)   (74,759,847)  (107,024,004) (16,846,213)   (25,556,186)  (181,783,851) (28,613,860)
operating
activities
Cash flows from
investing
activities:
Purchase of         (18,344,013)  (12,263,333)  (14,456,328)  (2,275,512)    (21,723,420)  (26,719,661)  (4,205,834)
equipment
Purchase of         (463,656)     -             (750,150)     (118,078)      (1,300,756)   (750,150)     (118,078)
intangible assets
Cash received from
disposal of other   -             -             3,994,000     628,679        -             3,994,000     628,679
assets
Advance payment for
premium content     -             (23,340,704)  (15,640,417)  (2,461,895)    -             (38,981,121)  (6,135,860)
licensed
Cash paid for
premium content     (45,761,160)  (65,097,644)  (67,761,751)  (10,666,103)   (74,331,397)  (132,859,395) (20,912,859)
licensed
Cash received from
maturity of         -             -             -             -              5,837,246     -             -
short-term
investment
Cash paid for PRC   -             -             -             -              (1,527,178)   -             -
advertising license
Net
decrease/(increase) (13,065,940)  101,381       46,086,138    7,254,232      (12,402,940)  46,187,519    7,270,190
in restricted cash
Net cash used in
investing           (77,634,769)  (100,600,300) (48,528,508)  (7,638,677)    (105,448,445) (149,128,808) (23,473,762)
activities
Cash flows from
financing
activities:
Cash received from  11,100,000    -             -             -              11,100,000    -             -
short-term loan
Cash paid for the
repayment of        -             -             (41,800,000)  (6,579,569)    -             (41,800,000)  (6,579,569)
short-term loan
Cash received from
exercise of stock   -             -             16,968,564    2,670,953      -             16,968,564    2,670,953
options
Cash paid for
initial public      (613,685)     -             -             -              (1,426,877)   -             -
offering cost
Net cash used in
financing           10,486,315    -             (24,831,436)  (3,908,616)    9,673,123     (24,831,436)  (3,908,616)
activities
Net decrease in
cash and cash       (70,064,564)  (175,360,147) (180,383,948) (28,393,506)   (121,331,508) (355,744,095) (55,996,238)
equivalents
Cash and cash
equivalents at      208,969,448   872,000,453   695,746,338   109,514,613    263,150,775   872,000,453   137,258,060
beginning of period
Effect of foreign
exchange rate       (3,135,290)   (893,968)     829,895       130,630        (6,049,673)   (64,073)      (10,085)
change on cash
Cash and cash
equivalents at end  135,769,594   695,746,338   516,192,285   81,251,737     135,769,594   516,192,285   81,251,737
of period
Supplementary
Disclosure of Cash
Flow Information
Cash paid for       1,034,405     1,519,720     1,809,392     284,809        1,855,700     3,329,112     524,022
interest
Supplementary
Disclosure of
Non-cash Investing
and Financial
Activities
Unpaid deferred
expenses/Payables
related to the      17,477,601    -             -             -              17,477,601    -             -
initial public
offering
Payables related to
purchase of         19,702,648    13,723,390    10,915,816    1,718,214      19,702,648    24,639,206    3,878,358
equipment
Payables related to
premium content     9,895,500     54,296,015    71,528,574    11,259,023     9,895,500     125,824,589   19,805,539
licensed
Payables related to
purchase of PRC     300,124       -             -             -              300,124       -             -
advertising license
qualification right

SOURCE Tudou Holdings Limited

Website: http://ir.tudou.com
Contact: Michael S. Fu, Director, Investor Relations of Tudou Holdings
Limited, (+86) 21-5170-2355, mfu@tudou.com; Jeremy Peruski of ICR, Inc.,
+1-646-405-4884, IR@tudou.com
 
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