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[新闻] 盛大公布2007年第三季度财务报告

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1^# 大中小发表于 2007-11-28 09:05 只看该作者

盛大公布2007年第三季度财务报告

三季度业绩大幅超出公司预期
净营业收入创历史新高达8740万美元，环比增长16.3%，同比增长50.3%
每股（美国存托凭证）摊薄净收益44美分

（中国上海，2007年11月28日）中国领先的互动娱乐媒体公司盛大互动娱乐有限公司(Nasdaq: SNDA)（以下简称“盛大”）于美国东部时间11月27日晚公布了截至2007年9月30日的第三季度未经审计之合并财务报告。

2007年第三季度财务报告摘要（未审计）

·
本季度净营业收入创下历史新高，达到6.56亿元人民币（8740万美元），较去年同期增长50.3%，较上季度增长16.3%，大幅超出原先8%－11%季度增长的公司预期；
·
本季度网络游戏净营业收入（包括MMORPG收入和休闲游戏收入）达到6.34亿元人民币（8440万美元），较去年同期增长54.9%，较上季度增长16.6%；
·
本季度毛利为4.58亿元人民币（6100万美元），较去年同期增长86.6%，较上季度增长20.6%；
·
本季度运营利润为2.58亿元人民币（3430万美元），较去年同期增长128.9%，较上季度增长5.6%；本季度运营利润率为39.3%，公司原先预期为不低于35%。
·
本季度净利润为2.39亿元人民币（3180万美元），上季度调整后净利润（即不含出售新浪股份的1.78亿元人民币净收益）为2.38亿元人民币，去年同期净利润为1.44亿元人民币；
·
本季度每股（美国存托凭证）摊薄净收益为3.26元人民币（44美分），上季度调整后每股摊薄净收益（即不含出售新浪股份的每股摊薄净收益2.42元人民币）为3.28元人民币，去年同期每股摊薄净收益为1.98元人民币；
·
本季度盛大MMORPG的活跃付费用户数较上季度增长13.2%至308万；
·
本季度盛大MMORPG每个活跃付费用户平均每月贡献的收入（ARPU）较上季度增长3.0%至59.7元人民币。

“盛大在第三季度交出了一份出色的成绩单。在现有游戏健康成长的推动下，公司实现快速增长，收入再创历史新高，运营利润率超出预期，”
盛大董事长兼首席执行官陈天桥表示，“我们充分利用了盛大运营平台和CSP模式的优势，在第三季度继续推出游戏新版本和各种营销活动，有力促进了活跃付费用户数和ARPU的增长；此外还成功拓宽了内容渠道，为2008年打造了强劲的产品线，这一切都令我们对盛大的未来更具信心。”

2007年第三季度合并财务报告摘要（未审计）(1)：

2006年

2007年

年度

季度

第三季度

第二季度

第三季度

增长率

(人民币:千元)

(美金:千元)

%

净营业收入

436,769

564,449

656,316

87,383

50.3%

16.3%

毛利

245,452

379,544

457,916

60,968

86.6%

20.6%

运营利润

112,674

244,278

257,905

34,338

128.9%

5.6%

调整后净利润(2)

143,525

238,356

238,876

31,804

66.4%

0.2%

调整后每股摊薄

净收益（ADS）(2)

1.98 (人民币:元)

3.28 (人民币:元)

3.26(人民币:元)

0.44 (美金:元)

(1) 所有人民币对美元的兑换汇率以2007年9月28日中国人民银行公布的汇率中间价为准：人民币7.5108元兑换1美元。本报告中的百分比在人民币基础上计算得出。
(2) 本财务报告提供了经调整的净利润和每股ADS净收益，将出售新浪股份的净收益从美国通用会计准则数据中调整出。盛大2007年第二季度出售新浪股份所得净收益为1.78亿元人民币，即每股（美国存托凭证）摊薄净收益2.42元人民币，2006年第三季度和2007年第三季度为美国通用会计准则数据。

电话会议
盛大管理团队将于北京/香港时间11月28日早9点（美国东部时间11月27日晚8点）召开电话会议，汇报公司的财务和经营状况。盛大公司网站在线直播：http://www.snda.com
。

有关前瞻性陈述的警告声明

此公告包含前瞻性声明。这些前瞻性声明是依据《1995 年美国私人证券诉讼修正法案》中安全港条款而制定。此公告中除既往事实以外的所有声明均为前瞻性声明包含但不限于关于公司产品线的陈述，这些前瞻性声明仅代表公司目前的预期、假设、估计和预测。这些声明中包含各类风险和不确定因素。尽管盛大认为在这些前瞻性声明中所做的预期是合理的，但却无法保证该预期最终一定与事实相符，盛大的实际结果可能会与预期完全不同或比预期更差。可能导致盛大的实际效果与预期完全不同的重大风险和不确定因素包含但不限于公司推出的游戏不吸引中国玩家以及向美国证监会提交的有关文件（包括盛大根据20-F表格提交的年报）中所提到的风险。除适用的法律要求外，公司没有义务对前瞻性声明进行任何修订。

关于盛大

盛大互动娱乐有限公司（Nasdaq: SNDA）是中国领先的互动娱乐传媒公司。盛大不断发现与满足用户的普遍娱乐需求，为用户提供一系列现下最受欢迎的大型多人网络游戏、休闲益智游戏与在线竞技游戏，同时提供动漫、文学、音乐等丰富的相关娱乐内容。盛大的互动娱乐平台凝聚了庞大的家庭用户群体，各年龄层的玩家均可以借由盛大互动娱乐平台与其它成千上万的玩家互动，体验互动娱乐带来的乐趣。互动让生活更精彩，如欲了解有关盛大的更多信息，请访问：
www.snda.com
。

联系方式

诸葛辉
企业传播总监、新闻发言人
电话：8621-50504740
电子邮箱：
PR@shanda.com.cn

Shanda Reports Third Quarter 2007 Results

Third Quarter 2007 Net Revenues Increased 16.3% QoQ and 50.3% YoY to US$87.4 million,
EPS per ADS US$0.44, Results Top Guidance

Shanghai, China—November 28, 2007—Shanda Interactive Entertainment Limited (Nasdaq: SNDA), or Shanda,
a leading interactive entertainment media company in China, today announced its unaudited consolidated financial results for the third quarter ended
September 30, 2007.

Third Quarter 2007 Highlights:

·
Consolidated net revenues achieved a record high of RMB656.3 million (US$87.4 million), an increase of
16.3% QoQ and 50.3% YoY, exceeding the upper end of the Company’s guidance of QoQ growth between 8% and
11%.
·
Online game revenues, including MMORPGs and casual games, was RMB633.7 million (US$84.4million), an increase of 16.6% QoQ and 54.9% YoY.
·
Gross profit was RMB457.9 million (US$61.0 million), an increase of 20.6% QoQ and 86.6% YoY.
·
Operating income was RMB257.9 million (US$34.3 million), an increase of 5.6% QoQ and 128.9% YoY. Operating margin was 39.3% in the third quarter of 2007, compared to the Company’s guidance of no less than 35%.
·
Net income was RMB238.9 million (US$31.8 million), compared to
adjusted net income of RMB238.4 million in the second quarter of 2007 (excluding the net gain of RMB177.5 million from the disposal of SINA shares), and net income of RMB143.5 million in the third quarter of 2006.

·
Earnings per diluted ADS were RMB3.26 (US$0.44), compared to adjusted earnings per diluted ADS of RMB3.28 in the second quarter of 2007 (excluding the net gain of RMB2.42 per diluted ADS from the disposal of SINA shares) and earnings per diluted ADS of RMB1.98 in the third quarter of 2006.

·
Active paying accounts (APA) for MMORPGs increased 13.2% QoQ to 3.08 million.
·
Average monthly revenue per active paying account (ARPU) for MMORPGs increased
3.0% QoQ to RMB59.7.

“Our game revenues reached a record high in the third quarter due to the strong organic growth of our main titles,” said Tianqiao Chen, Chairman and Chief Executive Officer of Shanda. “Leveraging our CSP model and operating platform, we introduced new expansion packs and held special promotions during the summer holidays, which translated to growth in both our ARPU and APA.
We have also built a strong game pipeline for 2008 to include a series of exciting new MMORPGs, casual games and expansion packs. We believe the growth of our content will allow us to continue to expand our business going forward.”

Conference Call and Webcast Notice

Shanda will host a conference call on November 28, 2007 at 9:00 am Beijing/Hong Kong time, corresponding with November 27, 2007 at
8:00 pm Eastern Standard Time, to present an overview of the Company’s financial performance and business operations. A live webcast of the conference call will be available on the Company’s corporate website at http://www.snda.com.

Financial Results

Net Revenues. Shanda reported net revenues of RMB656.3 million (US$87.4 million) for the third quarter of 2007, representing a 16.3% increase compared to RMB564.4 million in the second quarter of 2007 and a 50.3% increase compared to RMB436.8 million in the third quarter of 2006.

Online game revenues in the third quarter of 2007 increased 16.6% quarter-over-quarter and
54.9% year-over-year to RMB633.7 million (US$84.4 million).

Revenues from MMORPGs in the third quarter of 2007 increased 16.6% quarter-over-quarter and 66.0%
year-over-year to RMB551.5 million (US$73.4 million), accounting for 84.0% of net revenues. The sequential growth in MMORPG revenues was primarily due to continued increase in revenues generated by the Company’s major titles, including Mir II, Woool and Latale, and an initial contribution from Feng Yun Online, which was acquired in conjunction with the Company’s acquisition of Aurora Technology Development Co. Ltd. (“Aurora”), in July 2007.

The number of
APA of MMORPGs increased 13.2% to 3.08 million in the third quarter of 2007 from 2.72 million in the second quarter of 2007.
ARPU for MMORPGs increased
3.0% to RMB59.7 in the third quarter of 2007 from RMB57.9 in the second quarter of 2007.
The quarter-over-quarter increase in APA is mainly due to the continued growth of users of existing titles and the initial contribution from Feng Yun Online. The quarter-over-quarter increase in ARPU was primarily due to an increased consumption of in-game premium features in connection with the launching of new expansion packs for the Company’s major titles and in-game promotions.

Revenues from casual games in the third quarter of 2007 increased 16.2% quarter-over-quarter and 6.9% year-over-year to RMB82.2 million (US$10.9 million). The sequential increase in revenues from casual games was due to the release of new expansion packs for Maple Story, GetAmped, Crazy Kart and Tales Runner, as well as the seasonal revenue improvement related to students’ summer holidays.

Gross Profit.
Gross profit for the third quarter of 2007 was RMB457.9 million (US$61.0 million), an increase of 20.6% from RMB379.5 million in the second quarter of 2007 and 86.6% from RMB245.5 million in the third quarter of 2006.
Gross margin was 69.8% in the third quarter of 2007, compared to 67.2% in the second quarter of 2007 and 56.2% in the third quarter of 2006.
The sequential improvement in gross margin was primarily due to the consolidation of Korean software developer Actoz Soft Co., Ltd. (“Actoz”) into Shanda’s financial statements from the third quarter of 2007, which reduced the Company’s licensing fees relating to Mir II.

Income from Operations.
Operating income for the third quarter of 2007 was RMB257.9 million (US$34.3 million), an
increase of 5.6% from RMB244.3 million in the second quarter of 2007 and 128.9% from RMB112.7 million in the third quarter of 2006.
Operating margin was 39.3% in the third quarter of 2007, compared to 43.3% in the second quarter of 2007 and 25.8% in the third quarter of 2006.
The quarter-over-quarter change in operating margin was primarily due to the increased operating expenses from the consolidation of Actoz, an increase in marketing expenses during the summer holidays, and the full-quarter increase in payroll costs as a result of employee salary raises commencing from June 2007.

Excluding the consolidation of Actoz and Aurora, gross margin and operating margin for the third quarter of 2007 would have been 65.9% and 40.4%, respectively.

Non-Operating Income.
Net non-operating income for the third quarter of 2007 was RMB29.0 million (US$3.9 million), compared to RMB209.7 million in the second quarter of 2007 and RMB46.7 million in the third quarter of 2006. The major difference is investment income of RMB177.5 million recorded from the disposal of SINA shares in the second quarter of 2007. Non-operating income contributed from government financial incentives amounted to RMB14.9 million (US$2.0 million) in the third quarter of 2007, compared to RMB14.0 million in the second quarter of 2007 and RMB29.1 million in the third quarter of 2006.

Net Income.
Net income for the third quarter of 2007 was RMB238.9 million (US$31.8 million), compared to
adjusted net income of RMB238.4 million in the second quarter of 2007 (excluding the net gain of RMB177.5 million from the disposal of SINA shares), and net income of RMB143.5 million in the third quarter of 2006. Earnings per diluted ADS for the third quarter of 2007 were RMB3.26 (US$0.44), compared to adjusted earnings per diluted ADS of RMB3.28 in the second quarter of 2007 (excluding the net gain of RMB2.42 per diluted ADS from the disposal of SINA shares) and earnings per diluted ADS of RMB1.98 in the third quarter of 2006.
Earnings per diluted ADS including the gain on the disposal of SINA shares were RMB5.70 per diluted ADS in the second quarter of 2007.

The conversion of Renminbi (RMB) into U.S. dollars in this release is based on RMB7.5108 to US$1.00 as published by the People's Bank of China on September 28, 2007. The percentages stated in this press release are calculated based on the RMB amounts.

Non-GAAP Financial Measures

To supplement the financial measures prepared in accordance with generally accepted accounting principals in the United States, or GAAP, this press release includes non-GAAP financial measures of adjusted net income and adjusted earning per ADS, each of which is adjusted to exclude the net gain from disposal of the Company’s stake in SINA. The Company believes these non-GAAP financial measures are important to help investors understand the Company’s current financial performance and future prospects, compare business trends among different reporting periods on a consistent basis and access the Company’s core operating results. These non-GAAP financial measures should be considered in addition to financial measures prepared in accordance with GAAP, but should not be considered a substitute for, or superior to, financial measures prepared in accordance with GAAP. For a reconciliation of each of these non-GAAP financial measures to the most directly comparable GAAP financial measure, please see the financial statements included with this press release.

Important Events & Announcements:

·
Shanda obtained an exclusive license to operate an online free-running game FreeJack in mainland China, Hong Kong and Macao. (2007/09/04)

·
Shanda announced the appointment of Donald Chan as Senior Vice President of Shanda's new in-game advertising ("IGA") business. (2007/10/23)

·
Shanda announced three new online games currently under development for 2008 pipeline: Gui Chui Deng Online, Creation of the Gods and World Hegemony. (2007/10/26)

·
Shanda and NCsoft announced a strategic alliance pursuant to which Shanda will become a strategic investor of NCsoft's Chinese subsidiary, NCsoft China. Shanda also obtained an exclusive license to operate AION: The Tower of Eternity, NCsoft’s highly-anticipated 3D MMORPG, in mainland China. (2007/11/06)

·
Shanda’s US$275 million Principal Amount of Zero Coupon Senior Convertible Notes due 2014 have been fully redeemed. (2007/11/15)

·
Shanda announced the appointment of Grace Wu as the Company’s Chief Financial Officer. (2007/11/28)

* Please visit Shanda's website (http://www.snda.com) for details about these and other announcements.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements in this announcement that are not historical facts, including but not limited to statements regarding the Company’s pipeline of games and expectations of future growth, represent only the Company's current expectations, assumptions, estimates and projections and are forward-looking statements. These forward-looking statements involve various risks and uncertainties. Important risks and uncertainties that could cause the Company's actual results to be materially different from expectations include but are not limited to that the newly added titles in our pipeline may not be well received by the users and the risks set forth in the Company's filings with the U.S. Securities and Exchange Commission, including the Company's annual report on Form 20-F. The Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

About Shanda Interactive Entertainment Limited

Shanda Interactive Entertainment Limited (Nasdaq: SNDA) is a leading interactive entertainment media company in China. Shanda offers a portfolio of diversified entertainment content including some of the most popular massively multi-player online role-playing games (MMORPGs) and casual online games in China, as well as online chess and board games, network PC games and a variety of cartoons, literature works and music. Shanda's interactive entertainment platform attracts a large and loyal user base, of which more and more is coming from homes. Each user can interact with thousands of other users and enjoy the interactive entertainment content that Shanda provides. Interaction enriches your life. For more information about Shanda, please visit http://www.snda.com.

Contact

Shanda Interactive Entertainment Ltd.

Maggie Yun Zhou
Investor Relations Manager
Shanda Interactive Entertainment Limited
Phone: +86-21-5050-4740 (Shanghai)
E-mail: IR@shanda.com.cn

Crocker Coulson (investors): crocker.coulson@ccgir.com
Elaine Ketchmere (media): elaine.ketchmere@ccgir.com
CCG Elite
Phone: +1-310-231-8600 (USA)

SHANDA INTERACTIVE ENTERTAINMENT LIMITED

CONSOLIDATED BALANCE SHEET

(in thousands)

As of
December 31,

As of September 30,

2006

2007

RMB

US$

(audited)

(unaudited)

ASSETS

Current assets:

Cash and cash equivalents

1,291,901

3,679,836

489,939

Short-term investment

407,399

437,836

58,294

Marketable securities

1,844,966

469,025

62,447

Accounts receivable

31,685

37,248

4,959

Inventories

8,972

2,873

383

Deferred licensing fees and related costs

27,433

52,804

7,030

Prepayments and other current assets

51,708

110,572

14,723

Deferred tax assets

17,421

66,909

8,908

Total current assets

3,681,485

4,857,103

646,683

Investments in affiliated companies

334,693

3,704

493

Property, equipment and software

349,153

332,223

44,233

Intangible assets

186,062

373,878

49,779

Goodwill

493,564

608,647

81,036

Long-term deposits

-

59,849

7,968

Long-term prepayments

100,160

124,148

16,529

Other long-term assets

-

187,641

24,983

Non-current deferred tax assets

72,578

9,663

Total assets

5,145,117

6,619,771

881,367

LIABILITIES

Current liabilities:

Accounts payable

91,184

44,234

5,890

Licensing fees payable

14,135

84,842

11,296

Taxes payable

80,253

164,914

21,957

Deferred revenue

201,650

417,452

55,580

Licensing fees payable to a related party

46,090

-

Due to related parties

3,044

405

Acquisition related obligation

3,047

2,955

393

Convertible debt due within one year

2,147,393

2,065,470

275,000

Other payables and accruals

138,017

207,497

27,627

Deferred tax liabilities

6,302

839

Total current liabilities

2,724,813

2,996,710

398,987

Other long term liabilities

-

7,528

1,002

Non-current deferred tax liabilities

37,197

4,952

Total liabilities

2,724,813

3,041,435

404,941

Minority interests

2,910

225,109

29,972

Shareholders’ equity

Ordinary shares

11,849

11,931

1,589

Additional paid-in capital

1,468,825

1,593,283

212,132

Statutory reserves

142,019

146,869

19,554

Deferred share-based compensation

-

Accumulated other comprehensive gain

205,082

21,372

2,845

Retained earnings

589,619

1,579,772

210,334

Total shareholders’ equity

2,417,394

3,353,227

446,454

Total liabilities and shareholders’ equity

5,145,117

6,619,771

881,367

SHANDA INTERACTIVE ENTERTAINMENT LIMITED

CONSOLIDATED STATEMENTS OF OPERATIONS

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

For the three month periods ended,

September 30,

June 30,

September 30,

2006

2007

RMB

US$

(unaudited)

Net revenues

MMORPG

332,292

472,869

551,483

73,425

Casual game

76,845

70,701

82,177

10,941

Others

27,632

20,879

22,656

3,017

Total net revenues

436,769

564,449

656,316

87,383

Cost of services

Ongoing licensing fees for online games

-82,242

-104,012

-86,154

-11,471

Amortization of upfront licensing fees

-13,310

-15,063

-31,649

-4,214

Server leasing and maintenance fees

-24,273

-19,931

-23,136

-3,080

Salary and benefits

-13,441

-14,028

-19,106

-2,544

Depreciation of property, equipment andsoftware

-13,310

-13,092

-13,845

-1,843

Others

-44,741

-18,779

-24,510

-3,263

Total cost of services

-191,317

-184,905

-198,400

-26,415

Gross profit

245,452

379,544

457,916

60,968

Operating expenses

Product development

-35,965

-30,678

-49,923

-6,647

Sales and marketing

-31,860

-38,011

-60,749

-8,088

General and administrative

-64,953

-66,577

-89,339

-11,895

Total operating expenses

-132,778

-135,266

-200,011

-26,630

Income from operations

112,674

244,278

257,905

34,338

Interest income

5,863

13,046

19,403

2,583

Amortization of convertible debt issuance cost

-4,402

-4,511

-4,138

-551

Investment income

141

189,765

14,864

1,979

Other income, net

47,832

11,152

5,695

759

Income before income tax expenses, equity in loss of affiliates and minority interests

162,108

453,730

293,729

39,108

Income tax expenses

-15,877

-38,141

-48,028

-6,394

Equity in (loss) gain of affiliates

-2,909

189

-510

-69

Minority interests

203

86

-6,315

-841

Net income

143,525

415,864

238,876

31,804

Earnings per share:

Basic

1.00

2.92

1.67

0.22

Diluted

0.99

2.85

1.63

0.22

Earnings per ADS:

Basic

2.00

5.84

3.34

0.44

Diluted

1.98

5.70

3.26

0.44

Weighted average ordinary shares outstanding:

Basic

142,903,595

142,397,374

143,358,691

Diluted

144,732,342

145,689,850

146,389,982

Weighted average ADS outstanding:

Basic

71,451,798

71,198,687

71,679,346

Diluted

72,366,171

72,844,925

73,194,991

Reconciliation from Non-GAAP measures to GAAP measures:

Non-GAAP income

143,525

238,356

238,876

31,804

Net gain from disposal of Sina’s Stake

-

177,508

-

Net income

143,525

415,864

238,876

31,804

Non-GAAP diluted
earnings per ADS

1.98

3.28

3,26

0.44

Net gain from disposal of Sina’s Stake per ADS

-

2.42

-

Diluted earnings per ADS

1.98

5.70

3.26

0.44

SNDA/G

###

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焚天

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2^# 大中小发表于 2007-11-28 09:06 只看该作者

天桥哥!

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为何不分手

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3^# 大中小发表于 2007-11-28 09:40 只看该作者

天桥哥的微笑激励着藕

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金碧辉煌

魔神至尊

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PS区 PS4主机首发纪念奖★ PS区大会员奖☆☆ TGFC 2015新年勋章☆☆☆☆ TGFC 2018新年勋章☆☆☆☆

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4^# 大中小发表于 2007-11-28 09:45 只看该作者

天桥哥一直是我的呕像

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chovosky

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5^# 大中小发表于 2007-11-28 09:48 只看该作者

支持天桥哥，打倒史玉柱:D

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cuberoot

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6^# 大中小发表于 2007-11-28 10:06 只看该作者

不知道盛大怎么缴税的
盛大净收入8千多万刀，毛利居然有6千多万刀。。。
这样的话，按理来说光企业所得税就要2千多万刀。。。

[ 本帖最后由 cuberoot 于 2007-11-28 10:08 编辑 ]

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silasong

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7^# 大中小发表于 2007-11-28 15:27 只看该作者

ls盛大因为是文化产业基地，是免税的。

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belmont_yang

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8^# 大中小发表于 2007-11-28 23:59 只看该作者

盛大真盛大

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